August 7: The price of gold has set another benchmark on Friday with an increase of Rs 1000 per tola (11 grams approximately).…
August 7: The price of gold has set another benchmark on Friday with an increase of Rs 1000 per tola (11 grams approximately).…
August 6: The government has assigned the Ministry of Energy to resolve the dispute regarding the electricity tariff imposed on dedicated feeder and trunk line after the end of load-shedding in the…
August 7: There has been an increase in the number of customers opening online account during the lockdown period.…
August 7: Nepal Rastra Bank recently unveiled a report which stated that banks and financial institutions (BFIs) did not facilitate their customers in payment of loan installment and provide discount on interest rate during lockdown period as per its…
August 7: The Asian Development Bank (ADB) has projected Nepal’s remittance inflow to shrink by almost 29…
August 6: The government has not been able to effectively implement its policy to refund value added tax (VAT) for payments made through electronic…
August 6: The price of gold has increased by Rs 1100 per tola (11 grams approximately) to reach an all time high of Rs 102,500 on Thursday (August…
August 6: Tourism stakeholders have expressed discontent over the recently announced tourism bill by the…
August 6: The price of green vegetables in Kathmandu has skyrocketed since the last three weeks.…
August 6: A study conducted by Nepal Rastra Bank shows that most of the businesses and industries of Nepal were badly affected by the four-month long lockdown imposed by the government on March 24 to stem the spread of…
August 6: The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has formed a six-member committee to prepare a new modality for the upcoming election.…
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August 5: The Civil Aviation Authority of Nepal (CAAN) has reportedly approved 48 daily flights of various airlines for domestic flights from August 17.…
August 5: Traders and businessmen of Raxaul, which lies across the border in India, from Birgunj, are facing a hard time paying their rent and salary to the staffers.…
August 5: The price of gold has crossed the mark of Rs 100,000 per tola (11 grams approximately) for the first time in the…
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', '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 7: The price of gold has set another benchmark on Friday with an increase of Rs 1000 per tola (11 grams approximately). </span></span></span></span></p> <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 Federation of Nepal Gold and Silver Dealers Association, the precious yellow metal is being traded for Rs 103,500 per 11 grams on Friday (August 7), with an overnight increase of Rs 1000.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The price of silver has also increased by Rs 60 per 11 grams. Silver is being traded for Rs 1405 per tola on Friday. The price of silver is also an all-time high in the Nepali market. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The price of gold has been consistently rising since the last few weeks. The price of gold is also increasing in the international market.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:15.0pt"><span style="font-family:Arial">It is believed that the price of gold is rising due to the relief packages announced by various governments worldwide to cope with the coronavirus pandemic and the central banks of those countries lending at exceptionally low rate of interest.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:15.0pt"><span style="font-family:Arial">International investors are said to be heavily investing on gold to secure their investment amid uncertainty created by the pandemic. This has also contributed to the rise in price of gold.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-07', 'modified' => '2020-08-07', 'keywords' => '', 'description' => '', 'sortorder' => '12037', 'image' => '20200807031218_gold.jpg', 'article_date' => '2020-08-07 15:11:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '12289', 'article_category_id' => '1', 'title' => 'Cabinet Assigns Energy Ministry to Resolve Issue of Dedicated Feeder', 'sub_title' => '', 'summary' => 'August 6: The government has assigned the Ministry of Energy to resolve the dispute regarding the electricity tariff imposed on dedicated feeder and trunk line after the end of load-shedding in the country.', '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 6: The government has assigned the Ministry of Energy to resolve the dispute regarding the electricity tariff imposed on dedicated feeder and trunk line after the end of load-shedding in the country.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">A meeting of the council of ministers on Monday handed the responsibility to the energy ministry to resolve the dispute by implementing recommendations suggested in a report prepared by a probe committee.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Government spokesperson and Minister for Communication and Information Technology Yuba Raj Khatiwada informed about the decision during a press conference on Thursday (August 6).</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The government had earlier formed a committee headed by energy secretary Dinesh Ghimire to resolve the dispute regarding dedicated feeder and trunk line. The committee had submitted a report with necessary recommendations to the council of ministers three weeks ago. The cabinet has instructed the energy ministry to resolve the issue as per the recommendation of the report.</span></span></span></span></p> <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 report has recommended the government to allow the Electricity Regulatory Commission to decide on the electricity tariff after the end of load-shedding. </span></span></span></span></p> <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 Electricity Authority had supplied electricity to industries through dedicated feeder and trunk line at 65 percent additional charge between 2071 BS to 2075 BS amid load-shedding crisis.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Although the problem of load-shedding came to an end since early 2075, NEA has been charging the same rate to the industrialists till date. However, the industrialists have said they will not pay any additional charges after the load-shedding was ended.</span></span></span></span></p> ', 'published' => true, 'created' => '2020-08-07', 'modified' => '2020-08-07', 'keywords' => '', 'description' => '', 'sortorder' => '12036', 'image' => '20200807030044_1596750181.Clipboard01.jpg', 'article_date' => '2020-08-07 15:00:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '12288', 'article_category_id' => '1', 'title' => 'Lockdown Triggers a Surge in Online Accounts', 'sub_title' => '', 'summary' => 'August 7: There has been an increase in the number of customers opening online account during the lockdown period. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">August 7: There has been an increase in the number of customers opening online account during the lockdown period. Although the customers can deposit the money online, they have to go to the bank to withdraw it. This poses a challenge to promote digital transaction. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Due to Covid-19 infection and subsequent lockdown, majority of banks have insisted on opening online accounts. Banks have also been promoting online account. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Nabil Bank first started opening accounts online eight years ago. Bhuvan Kumar Dahal, president of Nepal Bankers’ Association says although the online account was initiated a long time ago, it has become more effective during the lockdown. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Bankers say that 945,350 new depositors have been added to the list of commercial banks’ customers after February and most of them have opened online accounts. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Banks including Nabil, NIC Asia, Citizens, and NMB have provided the facility to open an account via Facebook and Viber to make it effective. CEO of NMB bank Sunil KC informed that around 10,000 accounts have been opened during lockdown from such facilities. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">“We have received very good response to this new approach. At present, the emphasis should be given to online accounts and digital transactions,” he told New Business Age, adding, “Such transaction would maintain physical distance, is safe, reliable, saves time and is less expensive.” </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">NIC Asia Bank said that the initiative of opening free online account from home has become more effective. The bank says that they will continue the facility as opening online account has been increasing. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Bankers say that Nepalis residing abroad had benefitted more from such facilities in the past. They say that those who are not accustomed to online go to the bank. Therefore, there’s still a challenge to get used to digital transaction, says Anil Sharma, executive director of Nepal Bankers Association. “Now the already opened accounts need to be continuously activated in digital transactions,” he said. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-07', 'modified' => '2020-08-07', 'keywords' => '', 'description' => '', 'sortorder' => '12035', 'image' => '20200807014145_1596751231.Clipboard08.jpg', 'article_date' => '2020-08-07 13:41:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '12287', 'article_category_id' => '1', 'title' => 'BIFs Contradict Central Bank Report on Providing Discount on Interest Rate', 'sub_title' => '', 'summary' => 'August 7: Nepal Rastra Bank recently unveiled a report which stated that banks and financial institutions (BFIs) did not facilitate their customers in payment of loan installment and provide discount on interest rate during lockdown period as per its instruction.', '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 7: Nepal Rastra Bank recently unveiled a report which stated that banks and financial institutions (BFIs) did not facilitate their customers in payment of loan installment and provide discount on interest rate during lockdown period as per its instruction. However, BFIs claimed that they have followed the central bank’s instruction and provide such facilities to the customers.</span></span></span></span></p> <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 survey report unveiled by NRB on Wednesday (August 5) mentions that 71.6 percent of industries and business enterprises could not avail the discount from BFIs despite the central bank’s directive. Only 17.3 percent of businesses took advantage of such privilege.</span></span></span></span></p> <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 Bankers’ Association argues that the survey conducted from June 8 to 24 has not included the overall data.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“Nepal Rastra Bank directed us not to charge any interest to the customers on towards the end of April. However, BFIs could adjust the discounts only at the end of the fourth quarter (mid-July) of the last fiscal year in accordance to the banking system. Therefore, the survey excluded the discount we provided because the adjustment was made after the central bank’s study,” said Bhuvan Dahal, chairman of Nepal Bankers’ Association.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“All the details are available in the automated system. The discount might have been adjusted after the survey,” added Dahal.</span></span></span></span></p> <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 central bank had instructed BFIs to provide 10 percent discount on interest rate to customers who repay their loan between mid-March to mid-July. Likewise, the central bank had also ordered BFIs to provide 2 percent discount on interest rate to other customers till mid-July. However, the bankers had urged the central bank to review the decision and implement it only for the sectors affected by Covid-19. This is also another reason for the delay in implementation of the directive, says Dahal.</span></span></span></span></p> ', 'published' => true, 'created' => '2020-08-07', 'modified' => '2020-08-07', 'keywords' => '', 'description' => '', 'sortorder' => '12034', 'image' => '20200807011001_1596750599.Clipboard05.jpg', 'article_date' => '2020-08-07 13:09:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '12286', 'article_category_id' => '1', 'title' => 'Remittance Inflow to Nepal Expected to Shrink by almost 29 Percent', 'sub_title' => '', 'summary' => 'August 7: The Asian Development Bank (ADB) has projected Nepal’s remittance inflow to shrink by almost 29 percent.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">August 7: The Asian Development Bank (ADB) has projected Nepal’s remittance inflow to shrink by almost 29 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">According to the latest report of ADB, Nepal leads the group of five Asian economies where remittance inflow could fall sharply in 2020 due to the impact of coronavirus pandemic.</span></span></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">Migrant workers may be among the hardest hit groups, says the report entitled ‘COVID-19 Impact on International Migration, Remittances, and Recipient Households in Developing Asia’ which was published recently.</span></span></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">“Among developing Asian economies: the five worst-affected are Nepal, where remittances could fall by 28.7%; Tajikistan (27.9%), Bangladesh (27.8%), Pakistan (26.8%), and the Kyrgyz Republic (25.2%),” states the report posted on ADB’s website. </span></span></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 coronavirus pandemic risks devastating impact on economies around the world, including widespread unemployment and lower incomes. </span></span></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">According to the report, the economic recession from the COVID-19 pandemic threatens the job security and well-being of over 91 million international migrants from Asia and the Pacific.</span></span></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">Total remittances to Asia are expected to drop between $31.4 billion (baseline scenario) and $54.3 billion (worst-case scenario) in 2020, equivalent to 11.5% and 19.8% of baseline remittances, respectively. </span></span></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">With many households depending on international remittances in developing Asia a sudden stop in remittance flow to these regions could push people into poverty, the report warns.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Meanwhile, the report states that newly recruited migrants and those who were on vacation at home face the bleak prospect of losing their jobs. </span></span></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">“A new batch of Nepali migrant workers bound for the Republic of Korea and Qatar, for example, have been asked to put off their </span></span></span></span><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">departures until further notice”.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The report added that workplace closures applied to 77percent of country observations worldwide toward the end of June 2020.</span></span></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">Alongside the effects of the pandemic on international and domestic travel, trade, investment flows, and other productive activities, the Asian Development Bank (ADB) estimates employment in Asia and the Pacific to be lower by as much as 167 million person months should containment measures last 6 months from when the outbreak first intensified.</span></span></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">According to the report uploaded on ADB website, job cuts in the region are reducing wage income, with estimates of the decline projected to range from $359 billion to $550 billion. </span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-08-07', 'modified' => '2020-08-07', 'keywords' => '', 'description' => '', 'sortorder' => '12033', 'image' => '20200807114825_1596750678.1.jpg', 'article_date' => '2020-08-07 11:45:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '12285', 'article_category_id' => '1', 'title' => 'Government Fails to Implement VAT Rebate on Electronic Transaction ', 'sub_title' => '', 'summary' => 'August 6: The government has not been able to effectively implement its policy to refund value added tax (VAT) for payments made through electronic medium.', 'content' => '<p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">August 6: The government has not been able to effectively implement its policy to refund value added tax (VAT) for payments made through electronic medium.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">The Ministry of Finance had issued the work procedure for refunding VAT on electronic transaction about seven months ago. The refunding process was launched on February 10. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">As per the government policy, any customer making a minimum payment of Rs 1000 to a maximum of Rs 100,000 through electronic transaction would be entitled to get a 10 percent refund on VAT.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">However, the government has failed to implement this policy as the Inland Revenue Department has not been able to adjust the payment system with the payment service providers.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">The government needs to create a National Payment Gateway for effective implementation of payment and VAT rebate. However, the proposed payment gateway is not yet ready and therefore the policy has not been implemented, according to officials of the Inland Revenue Department.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">Deputy Director General of IRD Mukti Acharya informed New Business Age that the department has already corresponded with the Nepal Rastra Bank to prepare the required system. However, the central bank is yet to prepare a one-door payment and discount system, said Acharya. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">He further said that unless the inter-banking transactions are brought under one-door system, the problem of VAT rebate will persist.</span></span></span></p> ', 'published' => true, 'created' => '2020-08-06', 'modified' => '2020-08-06', 'keywords' => '', 'description' => '', 'sortorder' => '12032', 'image' => '20200806035121_finance_ministry.jpg', 'article_date' => '2020-08-06 15:50:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '12284', 'article_category_id' => '1', 'title' => 'Price of Gold Climbs to Rs 102,500 per 11 Grams', 'sub_title' => '', 'summary' => 'August 6: The price of gold has increased by Rs 1100 per tola (11 grams approximately) to reach an all time high of Rs 102,500 on Thursday (August 6).', 'content' => '<p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:20px">August 6: The price of gold has increased by Rs 1100 per tola (11 grams approximately) to reach an all time high of Rs 102,500 on Thursday (August 6).</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:20px">The precious yellow metal was being traded for Rs 101,400 on Wednesday. But according to the Federation of Nepal Gold and Silver Dealers Association, the price increased by Rs 1100 per 11 grams overnight.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:20px">Similarly, the price of silver has also increased by Rs 50 per 11 grams. The new price has been fixed at Rs 1345 per 11 grams.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:20px">The price of gold has been rising steadily since the last few weeks. The price of gold is also increasing in the international market.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:20px">It is believed that the price of gold is rising due to the relief packages announced by various governments worldwide to cope with the coronavirus pandemic and the central banks of those countries lending at exceptionally low rate of interest.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:20px">Due to the uncertainty created by the pandemic, there has been an increase in investors who are willing to invest in gold. Therefore, the price of gold has been steading rising, according to gold dealers of Nepal.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-08-06', 'modified' => '2020-08-06', 'keywords' => '', 'description' => '', 'sortorder' => '12031', 'image' => '20200806031633_gold.jpg', 'article_date' => '2020-08-06 15:15:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '12283', 'article_category_id' => '1', 'title' => 'Tourism Entrepreneurs Express Disappointment toward Tourism Bill', 'sub_title' => '', 'summary' => 'August 6: Tourism stakeholders have expressed discontent over the recently announced tourism bill by the government.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">August 6: Tourism stakeholders have expressed discontent over the recently announced tourism bill by the government.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">The stakeholders have expressed displeasure to the recently amended bill that replaces the previous Tourism Act 2035. Tourism entrepreneurs complained that the government announced the bill without prior consultation with the concerned stakeholders.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">Tourism entrepreneurs have accused the Ministry of Culture, Tourism and Civil Aviation of trying to implement the act in a hurry without any prior discussion. “However, the Act should have been brought only after adequate discussions with concerned stakeholders and with their cooperation,” say tourism entrepreneurs.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">The Ministry of Tourism has sent the draft of the Tourism Bill 2077 to the Ministry of Law for revision. However, the Ministry of Law is yet to return the bill even though it had received it two and a half months ago.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">Tourism Ministry after receiving the draft back from the Ministry of Law will present it to the cabinet and register it in the parliament for endorsement. The Ministry of Culture, Tourism and Civil Aviation said that it has drafted the new bill according to the provision of the federal system. The ministry claims that it has prepared the bill to replace and update the four-decade-old bill. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">However, tourism entrepreneur say that the updated bill has excluded the issue they have been raising.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">Meanwhile, Minister for Tourism Yogesh Bhattarai has assured the stakeholders that the ministry will include their issues and suggestions in the bill. Minister Bhattarai said that the ministry wants to make the bill business-friendly by including necessary advice and suggestions from entrepreneurs. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">"Ministry of Tourism cannot run solely, and the concerns of the private sector are vital for the development of tourism. We will focus more on addressing their concerns,” he informed.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri"><img alt="" src="/app/webroot/userfiles/images/20180513122353_tourism.jpg" style="height:311px; width:800px" /></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-06', 'modified' => '2020-08-06', 'keywords' => '', 'description' => '', 'sortorder' => '12030', 'image' => '20200806024615_20200506031951_120_1571271950.jpg', 'article_date' => '2020-08-06 14:43:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '12281', 'article_category_id' => '1', 'title' => 'Prices of Vegetables up by 250 Percent ', 'sub_title' => '', 'summary' => 'August 6: The price of green vegetables in Kathmandu has skyrocketed since the last three weeks. ', '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 6: The price of green vegetables in Kathmandu has skyrocketed since the last three weeks. According to the daily price list of Kalimati Fruits and Vegetable Development Board (KFVDB), the price of vegetables in the last three weeks has increased by 250 percent. </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"">Middlemen have taken advantage of ineffective monitoring by the government and increased the price on the pretext of rainy season.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">The price of small tomatoes, which was being sold at Rs 12 per kg on July 16, has now increased by 250 percent to Rs 42. Beans are now priced at Rs 115, which is an increase of 203 percent from Rs 38. </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"">Likewise, the price of potato has increased by 31 percent from Rs 51 to Rs 68 per kg. The price of bitter gourd is Rs 45, which is an increase of 80 percent from Rs 25. </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"">Madhav Timilsina, president of Consumer Rights Investigation Forum views that the price of vegetables has increased due to the inability of the Department of Commerce, Supplies and Consumer Protection Management (DoCSM) to effectively monitor the market. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">He said that the superficial monitoring would not stop the price hike. Timilsina added that all three levels of government should coordinate and take steps to reduce the unnecessary price hike by reducing the influence of middlemen. </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"">Consumers are forced to buy vegetables at double rate at retail stores compared to the wholesale rate at Kalimati. Consumers complain that despite the huge difference in wholesale and retail price, the authorized body has not done effective monitoring. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">The DoCSM claims to have been constantly monitoring the market. Director General of the department Netra Prasad Subedi said that they are monitoring the market and if the traders are found to have increased the price arbitrarily, then action will be taken against them.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">The KFVDB has not put the retail price in its daily price list which has allowed the retailers to set price arbitrarily. </span></span></span></p> ', 'published' => true, 'created' => '2020-08-06', 'modified' => '2020-08-06', 'keywords' => '', 'description' => '', 'sortorder' => '12029', 'image' => '20200806125217_1595453904.Clipboard03.jpg', 'article_date' => '2020-08-06 12:51:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '12280', 'article_category_id' => '1', 'title' => 'One Fourth of Workers Laid Off During Lockdown: NRB Report', 'sub_title' => '', 'summary' => 'August 6: A study conducted by Nepal Rastra Bank shows that most of the businesses and industries of Nepal were badly affected by the four-month long lockdown imposed by the government on March 24 to stem the spread of coronavirus.', 'content' => '<p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">August 6: A study conducted by Nepal Rastra Bank shows that most of the businesses and industries of Nepal were badly affected by the four-month long lockdown imposed by the government on March 24 to stem the spread of coronavirus.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">A survey report on impact of Covid-19 on economy unveiled by the central bank on Wednesday (August 5) states that the businesses houses and industries of Nepal laid off almost one fourth of their employees during the lockdown period. The employers were also held accountable for pay-cuts of 18.2 percent in average, according to the report.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">During the lockdown, only four percent of industries and businesses were fully operational while 35 percent remained partially open. According to the report, 61 percent of industries and businesses were completely shut during the lockdown period. Sectors ranging from education and hotel industry to real estate business and public transportation remained closed during lockdown.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">Agriculture, communication and health sectors remained fully operational during the lockdown while mining activities, production of food, distribution of cooking gas, drinking water and other related industries remained partially opened.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">The central bank had conducted the survey from June 8 to 24 in 52 districts involving 674 industries and businesses included in the National Economic Census except the banking and insurance sectors.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">The report states that an average of 22.5 percent of workers were laid off during the lockdown. Seventy percent of those workers were working on contract basis. Gas industries, wholesale and retail businesses, construction companies, and productive sector as well as media were responsible for most of the layoffs, the report states. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">Meanwhile, hotels and restaurants were the ones responsible for maximum pay-cuts. The hotel and hospitality industry had reduced the salary of their staffers by 36.4 percent followed by transportation sector (31.2 percent) and education sector (21.1 percent).</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-06', 'modified' => '2020-08-06', 'keywords' => '', 'description' => '', 'sortorder' => '12028', 'image' => '20200806115609_1595453970.Clipboard05.jpg', 'article_date' => '2020-08-06 11:54:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '12282', 'article_category_id' => '1', 'title' => 'FNCCI forms Committee to Decide on Election Modality ', 'sub_title' => '', 'summary' => 'August 6: The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has formed a six-member committee to prepare a new modality for the upcoming election. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">August 6: The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has formed a six-member committee to prepare a new modality for the upcoming election. A virtual meeting of the executive committee of FNCCI on Wednesday (August 5) decided to prepare a new modality within 15 days to hold the election amid risk of coronavirus pandemic.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">The committee includes executive members of FNCCI Ranjit Acharya, Bharat Acharya, Sunil Gopal Shrestha, Arun Sumargi, Binod Dhakal and DB Basnet. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">The committee has been mandated to prepare a modality to hold the election of FNCCI amid coronavirus pandemic. The committee will hold discussions with experts on whether to hold election through electronic means or to go ahead with regular election process by maintaining physical distance between the voters. FNCCI can either opt for electronic voting or get permission from the government to hold direct election, informed FNCCI executive committee member Krishna Prasad Dulal.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">FNCCI was supposed to hold its 45<sup>th</sup> general convention on April 10-11 and hand over the responsibility of the federation to Senior Vice President Shekhar Golchha. But that has been put on hold due to the coronavirus pandemic. FNCCI had decided to postpone the general convention in mid-March considering the risk of coronavirus. The government then imposed a lockdown on March 24, following which the election became uncertain. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">An executive committee meeting of FNCCI last month decided to hold the general convention on August 10-11. Although the government lifted the lockdown on July 23, it has not lifted ban on mass gathering.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-06', 'modified' => '2020-08-06', 'keywords' => '', 'description' => '', 'sortorder' => '12027', 'image' => '20200806015948_1596664450.Clipboard06.jpg', 'article_date' => '2020-08-06 13:58:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '12277', 'article_category_id' => '1', 'title' => 'Government Agencies Purchasing Logistics without Competitive Bids', 'sub_title' => '', 'summary' => '', 'content' => '<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">August 5: The trend of government agencies purchasing logistics by disregarding the public procurement laws and competitive bidding process is flourishing in the recent days.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The government’s audit reports clearly indicates that ministry of physical infrastructure, urban development ministry, energy ministry and ministry of water resource and their subordinate units have been flouting financial fair play during the procurement process. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Section 8 (2) of the Public Procurement Act 2063 mentions that government bodies cannot purchase logistics by limiting the number of competitors and dividing the deal into smaller parts. But the government bodies have been found making procurements by disregarding this legal provision. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The 57<sup>th</sup> annual report of the Office of the Auditor General states that the government made purchase of logistics and signed deals for infrastructure development worth Rs 72.13 billion without any competitive bidding process within one-year period. Altogether 35 government agencies were involved in such shady deals ranging from construction of government buildings, maintenance and repair, procurement of logistics among others. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">As per the Public Procurement Act, the government has to issue tender bids for any purchase above Rs 2 million. However, the government agencies were found making purchase of less than Rs 2 million multiple times, the report states.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Altogether 116 government agencies were found purchasing logistics worth Rs 2.5 billion without any competitive bids, the 56<sup>th</sup> annual report says. Such practice was limited to deals worth Rs 1.4 billion in the previous year, says the 55<sup>th</sup> annual report.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-05', 'modified' => '2020-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '12026', 'image' => '20200805012638_1596579646.mlp.jpg', 'article_date' => '2020-08-05 13:25:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '12279', 'article_category_id' => '1', 'title' => 'Preparations Underway for 48 Domestic Flights Per Day ', 'sub_title' => '', 'summary' => 'August 5: The Civil Aviation Authority of Nepal (CAAN) has reportedly approved 48 daily flights of various airlines for domestic flights from August 17. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">August 5: The Civil Aviation Authority of Nepal (CAAN) has reportedly approved 48 daily flights of various airlines for domestic flights from August 17. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">According to news reports, CAAN has approved 39 flights in urban areas (trunk routes) and 9 flights for remote areas (stall). As the operation of the flights has been finalised, big domestic airlines including Buddha Air, Yeti Airlines, and Shree Airlines have intensified their preparations for resuming operation by adopting safety measures. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Most of the airlines have already made flight schedules and obtained approval from CAAN. However, CAAN has not yet made public any official decision in this regard. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Yograj Kandel Sharma, spokesperson of Airline Operators Association of Nepal, an umbrella organization of domestic airlines companies said that for now, 48 flights on the trunk route have been approved by the authority. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Buddha Air has received approval for 18 flights. Rupesh Joshi, Marketing Director of Buddha Air, said that all the preparations have been made for resuming operation. He informed that Buddha Air has opened ticket booking as per their plan to fly to all destinations. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Another private sector airline, Yeti Airlines has received approval to operate 11 flights. Spokesperson of the airlines Sudarshan Bartaula informed that the staff are being prepared with all kinds of exercise and health caution in line with the government’s health protocols. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Yeti airlines will operate 11 flights initially. The company said that they will gradually add flights depending on the situation. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Similarly, Shree Airlines, which has received eight flight permit, is also preparing for safe flights. Anil Manandhar, institutional manager of the company, said that all preparations for resuming flights have been made. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Moreover, Sita and Sumit Airlines have received permission for three flights per day while Simrik Airline has received permission to operate two flights a day. The flight for Saurya Airline has not been confirmed as the aircraft of the company is grounded. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"> </span></span></p> ', 'published' => true, 'created' => '2020-08-05', 'modified' => '2020-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '12025', 'image' => '20200805015856_nepali_flights.jpg', 'article_date' => '2020-08-05 13:58:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '12278', 'article_category_id' => '1', 'title' => 'Businessmen in Raxaul Face Heavy Losses due to lack of Customers from Nepal', 'sub_title' => '', 'summary' => 'August 5: Traders and businessmen of Raxaul, which lies across the border in India, from Birgunj, are facing a hard time paying their rent and salary to the staffers. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Devanagari Sangam MN"">August 5: </span></span><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Traders and businessmen of Raxaul, which lies across the border in India, from Birgunj, are facing a hard time paying their rent and salary to the staffers. Their business have come to a complete halt after the Nepal-India border was closed to control 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:"Bangla MN"">India’s Bihar state has currently imposed a lockdown due to surge in Covid-19 cases. The border remained closed even when the state government had lifted the lockdown earlier. </span></span></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"">Operator of Jaya Nepal CD Showroom in Raxaul, Bimal Agrawal, informed New Business Age that they have not been able to do any business due to the closure of the international border.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">The market of Raxaul is mainly dependent on customers from Nepal. Almost two-thirds of the customers are from Nepal. The businessmen from Raxaul say that they have been bearing huge amount of losses due to the closure of border.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Generally,, customers from Birgunj of Parsa and the nearby rural areas as well as people from Bara, Simara, Jitpur, Makwanpur and Hetauda visit Raxaul for shopping.</span></span></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"">“There used to be hundreds of Nepali customers in Raxaul before the lockdown. But the measures to contain coronavirus has had a devastating effect on our business,” said Agrawal.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">“Clothes, food items, utensils and electrical goods are mostly purchased by Nepali customers,” said Agrawal.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">He added that the businessmen of Bank Road and Lohar Patti have closed their shops after the border was sealed. According to Agrawal, the businessmen were forced to give up their trade after failing to pay the rent and staffers.</span></span></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 cost of rent and monthly salary of staffers alone reaches anything between IRs 50,000 to IRs 200,000. But we have not been able to sell goods worth Rs 2000 to Rs 3000 per day,” said Agrawal.</span></span></span></span></p> ', 'published' => true, 'created' => '2020-08-05', 'modified' => '2020-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '12024', 'image' => '20200805014906_raxualbazar_filephoto.jpg', 'article_date' => '2020-08-05 13:48:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '12276', 'article_category_id' => '1', 'title' => 'Price of Gold Crosses Rs 100,000 Mark', 'sub_title' => '', 'summary' => 'August 5: The price of gold has crossed the mark of Rs 100,000 per tola (11 grams approximately) for the first time in the country.', '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 5: The price of gold has crossed the mark of Rs 100,000 per tola (11 grams approximately) for the first time in the country. Fine gold in being traded for a record high price of Rs 101,400 per 11 grams, according to the Federation of Nepal Gold and Silver Dealers Association.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The new price on Wednesday (August 5) is an overnight increase of Rs 1600 per 11 grams.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The price of gold in the domestic market on Tuesday was Rs 99,800 per tola. </span></span></span></span></p> <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, silver is being traded for Rs 1295 per 11 grams, Rs 65 up from Rs 1230 per a day 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"">Gold dealers say that the price of the precious yellow metal is steadily rising due to the high demand for gold in the international market.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">It is said that investors are interested in gold to secure their investment in the international market amid risks of coronavirus pandemic.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-08-05', 'modified' => '2020-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '12023', 'image' => '20200805125608_20200804052953_gold.jpg', 'article_date' => '2020-08-05 12:55:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, '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' => '12290', 'article_category_id' => '1', 'title' => 'Price of Gold Rising Consistently', 'sub_title' => '', 'summary' => 'August 7: The price of gold has set another benchmark on Friday with an increase of Rs 1000 per tola (11 grams approximately). ', '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 7: The price of gold has set another benchmark on Friday with an increase of Rs 1000 per tola (11 grams approximately). </span></span></span></span></p> <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 Federation of Nepal Gold and Silver Dealers Association, the precious yellow metal is being traded for Rs 103,500 per 11 grams on Friday (August 7), with an overnight increase of Rs 1000.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The price of silver has also increased by Rs 60 per 11 grams. Silver is being traded for Rs 1405 per tola on Friday. The price of silver is also an all-time high in the Nepali market. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The price of gold has been consistently rising since the last few weeks. The price of gold is also increasing in the international market.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:15.0pt"><span style="font-family:Arial">It is believed that the price of gold is rising due to the relief packages announced by various governments worldwide to cope with the coronavirus pandemic and the central banks of those countries lending at exceptionally low rate of interest.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:15.0pt"><span style="font-family:Arial">International investors are said to be heavily investing on gold to secure their investment amid uncertainty created by the pandemic. This has also contributed to the rise in price of gold.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-07', 'modified' => '2020-08-07', 'keywords' => '', 'description' => '', 'sortorder' => '12037', 'image' => '20200807031218_gold.jpg', 'article_date' => '2020-08-07 15:11:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '12289', 'article_category_id' => '1', 'title' => 'Cabinet Assigns Energy Ministry to Resolve Issue of Dedicated Feeder', 'sub_title' => '', 'summary' => 'August 6: The government has assigned the Ministry of Energy to resolve the dispute regarding the electricity tariff imposed on dedicated feeder and trunk line after the end of load-shedding in the country.', '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 6: The government has assigned the Ministry of Energy to resolve the dispute regarding the electricity tariff imposed on dedicated feeder and trunk line after the end of load-shedding in the country.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">A meeting of the council of ministers on Monday handed the responsibility to the energy ministry to resolve the dispute by implementing recommendations suggested in a report prepared by a probe committee.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Government spokesperson and Minister for Communication and Information Technology Yuba Raj Khatiwada informed about the decision during a press conference on Thursday (August 6).</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The government had earlier formed a committee headed by energy secretary Dinesh Ghimire to resolve the dispute regarding dedicated feeder and trunk line. The committee had submitted a report with necessary recommendations to the council of ministers three weeks ago. The cabinet has instructed the energy ministry to resolve the issue as per the recommendation of the report.</span></span></span></span></p> <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 report has recommended the government to allow the Electricity Regulatory Commission to decide on the electricity tariff after the end of load-shedding. </span></span></span></span></p> <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 Electricity Authority had supplied electricity to industries through dedicated feeder and trunk line at 65 percent additional charge between 2071 BS to 2075 BS amid load-shedding crisis.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Although the problem of load-shedding came to an end since early 2075, NEA has been charging the same rate to the industrialists till date. However, the industrialists have said they will not pay any additional charges after the load-shedding was ended.</span></span></span></span></p> ', 'published' => true, 'created' => '2020-08-07', 'modified' => '2020-08-07', 'keywords' => '', 'description' => '', 'sortorder' => '12036', 'image' => '20200807030044_1596750181.Clipboard01.jpg', 'article_date' => '2020-08-07 15:00:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '12288', 'article_category_id' => '1', 'title' => 'Lockdown Triggers a Surge in Online Accounts', 'sub_title' => '', 'summary' => 'August 7: There has been an increase in the number of customers opening online account during the lockdown period. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">August 7: There has been an increase in the number of customers opening online account during the lockdown period. Although the customers can deposit the money online, they have to go to the bank to withdraw it. This poses a challenge to promote digital transaction. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Due to Covid-19 infection and subsequent lockdown, majority of banks have insisted on opening online accounts. Banks have also been promoting online account. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Nabil Bank first started opening accounts online eight years ago. Bhuvan Kumar Dahal, president of Nepal Bankers’ Association says although the online account was initiated a long time ago, it has become more effective during the lockdown. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Bankers say that 945,350 new depositors have been added to the list of commercial banks’ customers after February and most of them have opened online accounts. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Banks including Nabil, NIC Asia, Citizens, and NMB have provided the facility to open an account via Facebook and Viber to make it effective. CEO of NMB bank Sunil KC informed that around 10,000 accounts have been opened during lockdown from such facilities. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">“We have received very good response to this new approach. At present, the emphasis should be given to online accounts and digital transactions,” he told New Business Age, adding, “Such transaction would maintain physical distance, is safe, reliable, saves time and is less expensive.” </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">NIC Asia Bank said that the initiative of opening free online account from home has become more effective. The bank says that they will continue the facility as opening online account has been increasing. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Bankers say that Nepalis residing abroad had benefitted more from such facilities in the past. They say that those who are not accustomed to online go to the bank. Therefore, there’s still a challenge to get used to digital transaction, says Anil Sharma, executive director of Nepal Bankers Association. “Now the already opened accounts need to be continuously activated in digital transactions,” he said. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-07', 'modified' => '2020-08-07', 'keywords' => '', 'description' => '', 'sortorder' => '12035', 'image' => '20200807014145_1596751231.Clipboard08.jpg', 'article_date' => '2020-08-07 13:41:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '12287', 'article_category_id' => '1', 'title' => 'BIFs Contradict Central Bank Report on Providing Discount on Interest Rate', 'sub_title' => '', 'summary' => 'August 7: Nepal Rastra Bank recently unveiled a report which stated that banks and financial institutions (BFIs) did not facilitate their customers in payment of loan installment and provide discount on interest rate during lockdown period as per its instruction.', '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 7: Nepal Rastra Bank recently unveiled a report which stated that banks and financial institutions (BFIs) did not facilitate their customers in payment of loan installment and provide discount on interest rate during lockdown period as per its instruction. However, BFIs claimed that they have followed the central bank’s instruction and provide such facilities to the customers.</span></span></span></span></p> <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 survey report unveiled by NRB on Wednesday (August 5) mentions that 71.6 percent of industries and business enterprises could not avail the discount from BFIs despite the central bank’s directive. Only 17.3 percent of businesses took advantage of such privilege.</span></span></span></span></p> <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 Bankers’ Association argues that the survey conducted from June 8 to 24 has not included the overall data.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“Nepal Rastra Bank directed us not to charge any interest to the customers on towards the end of April. However, BFIs could adjust the discounts only at the end of the fourth quarter (mid-July) of the last fiscal year in accordance to the banking system. Therefore, the survey excluded the discount we provided because the adjustment was made after the central bank’s study,” said Bhuvan Dahal, chairman of Nepal Bankers’ Association.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“All the details are available in the automated system. The discount might have been adjusted after the survey,” added Dahal.</span></span></span></span></p> <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 central bank had instructed BFIs to provide 10 percent discount on interest rate to customers who repay their loan between mid-March to mid-July. Likewise, the central bank had also ordered BFIs to provide 2 percent discount on interest rate to other customers till mid-July. However, the bankers had urged the central bank to review the decision and implement it only for the sectors affected by Covid-19. This is also another reason for the delay in implementation of the directive, says Dahal.</span></span></span></span></p> ', 'published' => true, 'created' => '2020-08-07', 'modified' => '2020-08-07', 'keywords' => '', 'description' => '', 'sortorder' => '12034', 'image' => '20200807011001_1596750599.Clipboard05.jpg', 'article_date' => '2020-08-07 13:09:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '12286', 'article_category_id' => '1', 'title' => 'Remittance Inflow to Nepal Expected to Shrink by almost 29 Percent', 'sub_title' => '', 'summary' => 'August 7: The Asian Development Bank (ADB) has projected Nepal’s remittance inflow to shrink by almost 29 percent.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">August 7: The Asian Development Bank (ADB) has projected Nepal’s remittance inflow to shrink by almost 29 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">According to the latest report of ADB, Nepal leads the group of five Asian economies where remittance inflow could fall sharply in 2020 due to the impact of coronavirus pandemic.</span></span></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">Migrant workers may be among the hardest hit groups, says the report entitled ‘COVID-19 Impact on International Migration, Remittances, and Recipient Households in Developing Asia’ which was published recently.</span></span></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">“Among developing Asian economies: the five worst-affected are Nepal, where remittances could fall by 28.7%; Tajikistan (27.9%), Bangladesh (27.8%), Pakistan (26.8%), and the Kyrgyz Republic (25.2%),” states the report posted on ADB’s website. </span></span></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 coronavirus pandemic risks devastating impact on economies around the world, including widespread unemployment and lower incomes. </span></span></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">According to the report, the economic recession from the COVID-19 pandemic threatens the job security and well-being of over 91 million international migrants from Asia and the Pacific.</span></span></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">Total remittances to Asia are expected to drop between $31.4 billion (baseline scenario) and $54.3 billion (worst-case scenario) in 2020, equivalent to 11.5% and 19.8% of baseline remittances, respectively. </span></span></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">With many households depending on international remittances in developing Asia a sudden stop in remittance flow to these regions could push people into poverty, the report warns.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Meanwhile, the report states that newly recruited migrants and those who were on vacation at home face the bleak prospect of losing their jobs. </span></span></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">“A new batch of Nepali migrant workers bound for the Republic of Korea and Qatar, for example, have been asked to put off their </span></span></span></span><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">departures until further notice”.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The report added that workplace closures applied to 77percent of country observations worldwide toward the end of June 2020.</span></span></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">Alongside the effects of the pandemic on international and domestic travel, trade, investment flows, and other productive activities, the Asian Development Bank (ADB) estimates employment in Asia and the Pacific to be lower by as much as 167 million person months should containment measures last 6 months from when the outbreak first intensified.</span></span></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">According to the report uploaded on ADB website, job cuts in the region are reducing wage income, with estimates of the decline projected to range from $359 billion to $550 billion. </span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-08-07', 'modified' => '2020-08-07', 'keywords' => '', 'description' => '', 'sortorder' => '12033', 'image' => '20200807114825_1596750678.1.jpg', 'article_date' => '2020-08-07 11:45:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '12285', 'article_category_id' => '1', 'title' => 'Government Fails to Implement VAT Rebate on Electronic Transaction ', 'sub_title' => '', 'summary' => 'August 6: The government has not been able to effectively implement its policy to refund value added tax (VAT) for payments made through electronic medium.', 'content' => '<p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">August 6: The government has not been able to effectively implement its policy to refund value added tax (VAT) for payments made through electronic medium.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">The Ministry of Finance had issued the work procedure for refunding VAT on electronic transaction about seven months ago. The refunding process was launched on February 10. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">As per the government policy, any customer making a minimum payment of Rs 1000 to a maximum of Rs 100,000 through electronic transaction would be entitled to get a 10 percent refund on VAT.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">However, the government has failed to implement this policy as the Inland Revenue Department has not been able to adjust the payment system with the payment service providers.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">The government needs to create a National Payment Gateway for effective implementation of payment and VAT rebate. However, the proposed payment gateway is not yet ready and therefore the policy has not been implemented, according to officials of the Inland Revenue Department.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">Deputy Director General of IRD Mukti Acharya informed New Business Age that the department has already corresponded with the Nepal Rastra Bank to prepare the required system. However, the central bank is yet to prepare a one-door payment and discount system, said Acharya. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">He further said that unless the inter-banking transactions are brought under one-door system, the problem of VAT rebate will persist.</span></span></span></p> ', 'published' => true, 'created' => '2020-08-06', 'modified' => '2020-08-06', 'keywords' => '', 'description' => '', 'sortorder' => '12032', 'image' => '20200806035121_finance_ministry.jpg', 'article_date' => '2020-08-06 15:50:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '12284', 'article_category_id' => '1', 'title' => 'Price of Gold Climbs to Rs 102,500 per 11 Grams', 'sub_title' => '', 'summary' => 'August 6: The price of gold has increased by Rs 1100 per tola (11 grams approximately) to reach an all time high of Rs 102,500 on Thursday (August 6).', 'content' => '<p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:20px">August 6: The price of gold has increased by Rs 1100 per tola (11 grams approximately) to reach an all time high of Rs 102,500 on Thursday (August 6).</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:20px">The precious yellow metal was being traded for Rs 101,400 on Wednesday. But according to the Federation of Nepal Gold and Silver Dealers Association, the price increased by Rs 1100 per 11 grams overnight.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:20px">Similarly, the price of silver has also increased by Rs 50 per 11 grams. The new price has been fixed at Rs 1345 per 11 grams.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:20px">The price of gold has been rising steadily since the last few weeks. The price of gold is also increasing in the international market.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:20px">It is believed that the price of gold is rising due to the relief packages announced by various governments worldwide to cope with the coronavirus pandemic and the central banks of those countries lending at exceptionally low rate of interest.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:20px">Due to the uncertainty created by the pandemic, there has been an increase in investors who are willing to invest in gold. Therefore, the price of gold has been steading rising, according to gold dealers of Nepal.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-08-06', 'modified' => '2020-08-06', 'keywords' => '', 'description' => '', 'sortorder' => '12031', 'image' => '20200806031633_gold.jpg', 'article_date' => '2020-08-06 15:15:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '12283', 'article_category_id' => '1', 'title' => 'Tourism Entrepreneurs Express Disappointment toward Tourism Bill', 'sub_title' => '', 'summary' => 'August 6: Tourism stakeholders have expressed discontent over the recently announced tourism bill by the government.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">August 6: Tourism stakeholders have expressed discontent over the recently announced tourism bill by the government.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">The stakeholders have expressed displeasure to the recently amended bill that replaces the previous Tourism Act 2035. Tourism entrepreneurs complained that the government announced the bill without prior consultation with the concerned stakeholders.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">Tourism entrepreneurs have accused the Ministry of Culture, Tourism and Civil Aviation of trying to implement the act in a hurry without any prior discussion. “However, the Act should have been brought only after adequate discussions with concerned stakeholders and with their cooperation,” say tourism entrepreneurs.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">The Ministry of Tourism has sent the draft of the Tourism Bill 2077 to the Ministry of Law for revision. However, the Ministry of Law is yet to return the bill even though it had received it two and a half months ago.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">Tourism Ministry after receiving the draft back from the Ministry of Law will present it to the cabinet and register it in the parliament for endorsement. The Ministry of Culture, Tourism and Civil Aviation said that it has drafted the new bill according to the provision of the federal system. The ministry claims that it has prepared the bill to replace and update the four-decade-old bill. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">However, tourism entrepreneur say that the updated bill has excluded the issue they have been raising.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">Meanwhile, Minister for Tourism Yogesh Bhattarai has assured the stakeholders that the ministry will include their issues and suggestions in the bill. Minister Bhattarai said that the ministry wants to make the bill business-friendly by including necessary advice and suggestions from entrepreneurs. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">"Ministry of Tourism cannot run solely, and the concerns of the private sector are vital for the development of tourism. We will focus more on addressing their concerns,” he informed.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri"><img alt="" src="/app/webroot/userfiles/images/20180513122353_tourism.jpg" style="height:311px; width:800px" /></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-06', 'modified' => '2020-08-06', 'keywords' => '', 'description' => '', 'sortorder' => '12030', 'image' => '20200806024615_20200506031951_120_1571271950.jpg', 'article_date' => '2020-08-06 14:43:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '12281', 'article_category_id' => '1', 'title' => 'Prices of Vegetables up by 250 Percent ', 'sub_title' => '', 'summary' => 'August 6: The price of green vegetables in Kathmandu has skyrocketed since the last three weeks. ', '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 6: The price of green vegetables in Kathmandu has skyrocketed since the last three weeks. According to the daily price list of Kalimati Fruits and Vegetable Development Board (KFVDB), the price of vegetables in the last three weeks has increased by 250 percent. </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"">Middlemen have taken advantage of ineffective monitoring by the government and increased the price on the pretext of rainy season.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">The price of small tomatoes, which was being sold at Rs 12 per kg on July 16, has now increased by 250 percent to Rs 42. Beans are now priced at Rs 115, which is an increase of 203 percent from Rs 38. </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"">Likewise, the price of potato has increased by 31 percent from Rs 51 to Rs 68 per kg. The price of bitter gourd is Rs 45, which is an increase of 80 percent from Rs 25. </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"">Madhav Timilsina, president of Consumer Rights Investigation Forum views that the price of vegetables has increased due to the inability of the Department of Commerce, Supplies and Consumer Protection Management (DoCSM) to effectively monitor the market. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">He said that the superficial monitoring would not stop the price hike. Timilsina added that all three levels of government should coordinate and take steps to reduce the unnecessary price hike by reducing the influence of middlemen. </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"">Consumers are forced to buy vegetables at double rate at retail stores compared to the wholesale rate at Kalimati. Consumers complain that despite the huge difference in wholesale and retail price, the authorized body has not done effective monitoring. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">The DoCSM claims to have been constantly monitoring the market. Director General of the department Netra Prasad Subedi said that they are monitoring the market and if the traders are found to have increased the price arbitrarily, then action will be taken against them.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">The KFVDB has not put the retail price in its daily price list which has allowed the retailers to set price arbitrarily. </span></span></span></p> ', 'published' => true, 'created' => '2020-08-06', 'modified' => '2020-08-06', 'keywords' => '', 'description' => '', 'sortorder' => '12029', 'image' => '20200806125217_1595453904.Clipboard03.jpg', 'article_date' => '2020-08-06 12:51:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '12280', 'article_category_id' => '1', 'title' => 'One Fourth of Workers Laid Off During Lockdown: NRB Report', 'sub_title' => '', 'summary' => 'August 6: A study conducted by Nepal Rastra Bank shows that most of the businesses and industries of Nepal were badly affected by the four-month long lockdown imposed by the government on March 24 to stem the spread of coronavirus.', 'content' => '<p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">August 6: A study conducted by Nepal Rastra Bank shows that most of the businesses and industries of Nepal were badly affected by the four-month long lockdown imposed by the government on March 24 to stem the spread of coronavirus.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">A survey report on impact of Covid-19 on economy unveiled by the central bank on Wednesday (August 5) states that the businesses houses and industries of Nepal laid off almost one fourth of their employees during the lockdown period. The employers were also held accountable for pay-cuts of 18.2 percent in average, according to the report.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">During the lockdown, only four percent of industries and businesses were fully operational while 35 percent remained partially open. According to the report, 61 percent of industries and businesses were completely shut during the lockdown period. Sectors ranging from education and hotel industry to real estate business and public transportation remained closed during lockdown.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">Agriculture, communication and health sectors remained fully operational during the lockdown while mining activities, production of food, distribution of cooking gas, drinking water and other related industries remained partially opened.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">The central bank had conducted the survey from June 8 to 24 in 52 districts involving 674 industries and businesses included in the National Economic Census except the banking and insurance sectors.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">The report states that an average of 22.5 percent of workers were laid off during the lockdown. Seventy percent of those workers were working on contract basis. Gas industries, wholesale and retail businesses, construction companies, and productive sector as well as media were responsible for most of the layoffs, the report states. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">Meanwhile, hotels and restaurants were the ones responsible for maximum pay-cuts. The hotel and hospitality industry had reduced the salary of their staffers by 36.4 percent followed by transportation sector (31.2 percent) and education sector (21.1 percent).</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-06', 'modified' => '2020-08-06', 'keywords' => '', 'description' => '', 'sortorder' => '12028', 'image' => '20200806115609_1595453970.Clipboard05.jpg', 'article_date' => '2020-08-06 11:54:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '12282', 'article_category_id' => '1', 'title' => 'FNCCI forms Committee to Decide on Election Modality ', 'sub_title' => '', 'summary' => 'August 6: The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has formed a six-member committee to prepare a new modality for the upcoming election. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">August 6: The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has formed a six-member committee to prepare a new modality for the upcoming election. A virtual meeting of the executive committee of FNCCI on Wednesday (August 5) decided to prepare a new modality within 15 days to hold the election amid risk of coronavirus pandemic.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">The committee includes executive members of FNCCI Ranjit Acharya, Bharat Acharya, Sunil Gopal Shrestha, Arun Sumargi, Binod Dhakal and DB Basnet. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">The committee has been mandated to prepare a modality to hold the election of FNCCI amid coronavirus pandemic. The committee will hold discussions with experts on whether to hold election through electronic means or to go ahead with regular election process by maintaining physical distance between the voters. FNCCI can either opt for electronic voting or get permission from the government to hold direct election, informed FNCCI executive committee member Krishna Prasad Dulal.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">FNCCI was supposed to hold its 45<sup>th</sup> general convention on April 10-11 and hand over the responsibility of the federation to Senior Vice President Shekhar Golchha. But that has been put on hold due to the coronavirus pandemic. FNCCI had decided to postpone the general convention in mid-March considering the risk of coronavirus. The government then imposed a lockdown on March 24, following which the election became uncertain. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">An executive committee meeting of FNCCI last month decided to hold the general convention on August 10-11. Although the government lifted the lockdown on July 23, it has not lifted ban on mass gathering.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-06', 'modified' => '2020-08-06', 'keywords' => '', 'description' => '', 'sortorder' => '12027', 'image' => '20200806015948_1596664450.Clipboard06.jpg', 'article_date' => '2020-08-06 13:58:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '12277', 'article_category_id' => '1', 'title' => 'Government Agencies Purchasing Logistics without Competitive Bids', 'sub_title' => '', 'summary' => '', 'content' => '<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">August 5: The trend of government agencies purchasing logistics by disregarding the public procurement laws and competitive bidding process is flourishing in the recent days.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The government’s audit reports clearly indicates that ministry of physical infrastructure, urban development ministry, energy ministry and ministry of water resource and their subordinate units have been flouting financial fair play during the procurement process. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Section 8 (2) of the Public Procurement Act 2063 mentions that government bodies cannot purchase logistics by limiting the number of competitors and dividing the deal into smaller parts. But the government bodies have been found making procurements by disregarding this legal provision. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The 57<sup>th</sup> annual report of the Office of the Auditor General states that the government made purchase of logistics and signed deals for infrastructure development worth Rs 72.13 billion without any competitive bidding process within one-year period. Altogether 35 government agencies were involved in such shady deals ranging from construction of government buildings, maintenance and repair, procurement of logistics among others. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">As per the Public Procurement Act, the government has to issue tender bids for any purchase above Rs 2 million. However, the government agencies were found making purchase of less than Rs 2 million multiple times, the report states.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Altogether 116 government agencies were found purchasing logistics worth Rs 2.5 billion without any competitive bids, the 56<sup>th</sup> annual report says. Such practice was limited to deals worth Rs 1.4 billion in the previous year, says the 55<sup>th</sup> annual report.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-05', 'modified' => '2020-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '12026', 'image' => '20200805012638_1596579646.mlp.jpg', 'article_date' => '2020-08-05 13:25:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '12279', 'article_category_id' => '1', 'title' => 'Preparations Underway for 48 Domestic Flights Per Day ', 'sub_title' => '', 'summary' => 'August 5: The Civil Aviation Authority of Nepal (CAAN) has reportedly approved 48 daily flights of various airlines for domestic flights from August 17. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">August 5: The Civil Aviation Authority of Nepal (CAAN) has reportedly approved 48 daily flights of various airlines for domestic flights from August 17. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">According to news reports, CAAN has approved 39 flights in urban areas (trunk routes) and 9 flights for remote areas (stall). As the operation of the flights has been finalised, big domestic airlines including Buddha Air, Yeti Airlines, and Shree Airlines have intensified their preparations for resuming operation by adopting safety measures. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Most of the airlines have already made flight schedules and obtained approval from CAAN. However, CAAN has not yet made public any official decision in this regard. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Yograj Kandel Sharma, spokesperson of Airline Operators Association of Nepal, an umbrella organization of domestic airlines companies said that for now, 48 flights on the trunk route have been approved by the authority. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Buddha Air has received approval for 18 flights. Rupesh Joshi, Marketing Director of Buddha Air, said that all the preparations have been made for resuming operation. He informed that Buddha Air has opened ticket booking as per their plan to fly to all destinations. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Another private sector airline, Yeti Airlines has received approval to operate 11 flights. Spokesperson of the airlines Sudarshan Bartaula informed that the staff are being prepared with all kinds of exercise and health caution in line with the government’s health protocols. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Yeti airlines will operate 11 flights initially. The company said that they will gradually add flights depending on the situation. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Similarly, Shree Airlines, which has received eight flight permit, is also preparing for safe flights. Anil Manandhar, institutional manager of the company, said that all preparations for resuming flights have been made. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Moreover, Sita and Sumit Airlines have received permission for three flights per day while Simrik Airline has received permission to operate two flights a day. The flight for Saurya Airline has not been confirmed as the aircraft of the company is grounded. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"> </span></span></p> ', 'published' => true, 'created' => '2020-08-05', 'modified' => '2020-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '12025', 'image' => '20200805015856_nepali_flights.jpg', 'article_date' => '2020-08-05 13:58:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '12278', 'article_category_id' => '1', 'title' => 'Businessmen in Raxaul Face Heavy Losses due to lack of Customers from Nepal', 'sub_title' => '', 'summary' => 'August 5: Traders and businessmen of Raxaul, which lies across the border in India, from Birgunj, are facing a hard time paying their rent and salary to the staffers. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Devanagari Sangam MN"">August 5: </span></span><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Traders and businessmen of Raxaul, which lies across the border in India, from Birgunj, are facing a hard time paying their rent and salary to the staffers. Their business have come to a complete halt after the Nepal-India border was closed to control 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:"Bangla MN"">India’s Bihar state has currently imposed a lockdown due to surge in Covid-19 cases. The border remained closed even when the state government had lifted the lockdown earlier. </span></span></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"">Operator of Jaya Nepal CD Showroom in Raxaul, Bimal Agrawal, informed New Business Age that they have not been able to do any business due to the closure of the international border.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">The market of Raxaul is mainly dependent on customers from Nepal. Almost two-thirds of the customers are from Nepal. The businessmen from Raxaul say that they have been bearing huge amount of losses due to the closure of border.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Generally,, customers from Birgunj of Parsa and the nearby rural areas as well as people from Bara, Simara, Jitpur, Makwanpur and Hetauda visit Raxaul for shopping.</span></span></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"">“There used to be hundreds of Nepali customers in Raxaul before the lockdown. But the measures to contain coronavirus has had a devastating effect on our business,” said Agrawal.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">“Clothes, food items, utensils and electrical goods are mostly purchased by Nepali customers,” said Agrawal.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">He added that the businessmen of Bank Road and Lohar Patti have closed their shops after the border was sealed. According to Agrawal, the businessmen were forced to give up their trade after failing to pay the rent and staffers.</span></span></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 cost of rent and monthly salary of staffers alone reaches anything between IRs 50,000 to IRs 200,000. But we have not been able to sell goods worth Rs 2000 to Rs 3000 per day,” said Agrawal.</span></span></span></span></p> ', 'published' => true, 'created' => '2020-08-05', 'modified' => '2020-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '12024', 'image' => '20200805014906_raxualbazar_filephoto.jpg', 'article_date' => '2020-08-05 13:48:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '12276', 'article_category_id' => '1', 'title' => 'Price of Gold Crosses Rs 100,000 Mark', 'sub_title' => '', 'summary' => 'August 5: The price of gold has crossed the mark of Rs 100,000 per tola (11 grams approximately) for the first time in the country.', '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 5: The price of gold has crossed the mark of Rs 100,000 per tola (11 grams approximately) for the first time in the country. Fine gold in being traded for a record high price of Rs 101,400 per 11 grams, according to the Federation of Nepal Gold and Silver Dealers Association.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The new price on Wednesday (August 5) is an overnight increase of Rs 1600 per 11 grams.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The price of gold in the domestic market on Tuesday was Rs 99,800 per tola. </span></span></span></span></p> <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, silver is being traded for Rs 1295 per 11 grams, Rs 65 up from Rs 1230 per a day 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"">Gold dealers say that the price of the precious yellow metal is steadily rising due to the high demand for gold in the international market.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">It is said that investors are interested in gold to secure their investment in the international market amid risks of coronavirus pandemic.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-08-05', 'modified' => '2020-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '12023', 'image' => '20200805125608_20200804052953_gold.jpg', 'article_date' => '2020-08-05 12:55:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, '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' => '12290', 'article_category_id' => '1', 'title' => 'Price of Gold Rising Consistently', 'sub_title' => '', 'summary' => 'August 7: The price of gold has set another benchmark on Friday with an increase of Rs 1000 per tola (11 grams approximately). ', '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 7: The price of gold has set another benchmark on Friday with an increase of Rs 1000 per tola (11 grams approximately). </span></span></span></span></p> <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 Federation of Nepal Gold and Silver Dealers Association, the precious yellow metal is being traded for Rs 103,500 per 11 grams on Friday (August 7), with an overnight increase of Rs 1000.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The price of silver has also increased by Rs 60 per 11 grams. Silver is being traded for Rs 1405 per tola on Friday. The price of silver is also an all-time high in the Nepali market. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The price of gold has been consistently rising since the last few weeks. The price of gold is also increasing in the international market.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:15.0pt"><span style="font-family:Arial">It is believed that the price of gold is rising due to the relief packages announced by various governments worldwide to cope with the coronavirus pandemic and the central banks of those countries lending at exceptionally low rate of interest.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:15.0pt"><span style="font-family:Arial">International investors are said to be heavily investing on gold to secure their investment amid uncertainty created by the pandemic. This has also contributed to the rise in price of gold.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-07', 'modified' => '2020-08-07', 'keywords' => '', 'description' => '', 'sortorder' => '12037', 'image' => '20200807031218_gold.jpg', 'article_date' => '2020-08-07 15:11:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '12289', 'article_category_id' => '1', 'title' => 'Cabinet Assigns Energy Ministry to Resolve Issue of Dedicated Feeder', 'sub_title' => '', 'summary' => 'August 6: The government has assigned the Ministry of Energy to resolve the dispute regarding the electricity tariff imposed on dedicated feeder and trunk line after the end of load-shedding in the country.', '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 6: The government has assigned the Ministry of Energy to resolve the dispute regarding the electricity tariff imposed on dedicated feeder and trunk line after the end of load-shedding in the country.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">A meeting of the council of ministers on Monday handed the responsibility to the energy ministry to resolve the dispute by implementing recommendations suggested in a report prepared by a probe committee.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Government spokesperson and Minister for Communication and Information Technology Yuba Raj Khatiwada informed about the decision during a press conference on Thursday (August 6).</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The government had earlier formed a committee headed by energy secretary Dinesh Ghimire to resolve the dispute regarding dedicated feeder and trunk line. The committee had submitted a report with necessary recommendations to the council of ministers three weeks ago. The cabinet has instructed the energy ministry to resolve the issue as per the recommendation of the report.</span></span></span></span></p> <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 report has recommended the government to allow the Electricity Regulatory Commission to decide on the electricity tariff after the end of load-shedding. </span></span></span></span></p> <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 Electricity Authority had supplied electricity to industries through dedicated feeder and trunk line at 65 percent additional charge between 2071 BS to 2075 BS amid load-shedding crisis.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Although the problem of load-shedding came to an end since early 2075, NEA has been charging the same rate to the industrialists till date. However, the industrialists have said they will not pay any additional charges after the load-shedding was ended.</span></span></span></span></p> ', 'published' => true, 'created' => '2020-08-07', 'modified' => '2020-08-07', 'keywords' => '', 'description' => '', 'sortorder' => '12036', 'image' => '20200807030044_1596750181.Clipboard01.jpg', 'article_date' => '2020-08-07 15:00:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '12288', 'article_category_id' => '1', 'title' => 'Lockdown Triggers a Surge in Online Accounts', 'sub_title' => '', 'summary' => 'August 7: There has been an increase in the number of customers opening online account during the lockdown period. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">August 7: There has been an increase in the number of customers opening online account during the lockdown period. Although the customers can deposit the money online, they have to go to the bank to withdraw it. This poses a challenge to promote digital transaction. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Due to Covid-19 infection and subsequent lockdown, majority of banks have insisted on opening online accounts. Banks have also been promoting online account. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Nabil Bank first started opening accounts online eight years ago. Bhuvan Kumar Dahal, president of Nepal Bankers’ Association says although the online account was initiated a long time ago, it has become more effective during the lockdown. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Bankers say that 945,350 new depositors have been added to the list of commercial banks’ customers after February and most of them have opened online accounts. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Banks including Nabil, NIC Asia, Citizens, and NMB have provided the facility to open an account via Facebook and Viber to make it effective. CEO of NMB bank Sunil KC informed that around 10,000 accounts have been opened during lockdown from such facilities. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">“We have received very good response to this new approach. At present, the emphasis should be given to online accounts and digital transactions,” he told New Business Age, adding, “Such transaction would maintain physical distance, is safe, reliable, saves time and is less expensive.” </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">NIC Asia Bank said that the initiative of opening free online account from home has become more effective. The bank says that they will continue the facility as opening online account has been increasing. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Bankers say that Nepalis residing abroad had benefitted more from such facilities in the past. They say that those who are not accustomed to online go to the bank. Therefore, there’s still a challenge to get used to digital transaction, says Anil Sharma, executive director of Nepal Bankers Association. “Now the already opened accounts need to be continuously activated in digital transactions,” he said. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-07', 'modified' => '2020-08-07', 'keywords' => '', 'description' => '', 'sortorder' => '12035', 'image' => '20200807014145_1596751231.Clipboard08.jpg', 'article_date' => '2020-08-07 13:41:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '12287', 'article_category_id' => '1', 'title' => 'BIFs Contradict Central Bank Report on Providing Discount on Interest Rate', 'sub_title' => '', 'summary' => 'August 7: Nepal Rastra Bank recently unveiled a report which stated that banks and financial institutions (BFIs) did not facilitate their customers in payment of loan installment and provide discount on interest rate during lockdown period as per its instruction.', '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 7: Nepal Rastra Bank recently unveiled a report which stated that banks and financial institutions (BFIs) did not facilitate their customers in payment of loan installment and provide discount on interest rate during lockdown period as per its instruction. However, BFIs claimed that they have followed the central bank’s instruction and provide such facilities to the customers.</span></span></span></span></p> <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 survey report unveiled by NRB on Wednesday (August 5) mentions that 71.6 percent of industries and business enterprises could not avail the discount from BFIs despite the central bank’s directive. Only 17.3 percent of businesses took advantage of such privilege.</span></span></span></span></p> <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 Bankers’ Association argues that the survey conducted from June 8 to 24 has not included the overall data.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“Nepal Rastra Bank directed us not to charge any interest to the customers on towards the end of April. However, BFIs could adjust the discounts only at the end of the fourth quarter (mid-July) of the last fiscal year in accordance to the banking system. Therefore, the survey excluded the discount we provided because the adjustment was made after the central bank’s study,” said Bhuvan Dahal, chairman of Nepal Bankers’ Association.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“All the details are available in the automated system. The discount might have been adjusted after the survey,” added Dahal.</span></span></span></span></p> <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 central bank had instructed BFIs to provide 10 percent discount on interest rate to customers who repay their loan between mid-March to mid-July. Likewise, the central bank had also ordered BFIs to provide 2 percent discount on interest rate to other customers till mid-July. However, the bankers had urged the central bank to review the decision and implement it only for the sectors affected by Covid-19. This is also another reason for the delay in implementation of the directive, says Dahal.</span></span></span></span></p> ', 'published' => true, 'created' => '2020-08-07', 'modified' => '2020-08-07', 'keywords' => '', 'description' => '', 'sortorder' => '12034', 'image' => '20200807011001_1596750599.Clipboard05.jpg', 'article_date' => '2020-08-07 13:09:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '12286', 'article_category_id' => '1', 'title' => 'Remittance Inflow to Nepal Expected to Shrink by almost 29 Percent', 'sub_title' => '', 'summary' => 'August 7: The Asian Development Bank (ADB) has projected Nepal’s remittance inflow to shrink by almost 29 percent.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">August 7: The Asian Development Bank (ADB) has projected Nepal’s remittance inflow to shrink by almost 29 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">According to the latest report of ADB, Nepal leads the group of five Asian economies where remittance inflow could fall sharply in 2020 due to the impact of coronavirus pandemic.</span></span></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">Migrant workers may be among the hardest hit groups, says the report entitled ‘COVID-19 Impact on International Migration, Remittances, and Recipient Households in Developing Asia’ which was published recently.</span></span></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">“Among developing Asian economies: the five worst-affected are Nepal, where remittances could fall by 28.7%; Tajikistan (27.9%), Bangladesh (27.8%), Pakistan (26.8%), and the Kyrgyz Republic (25.2%),” states the report posted on ADB’s website. </span></span></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 coronavirus pandemic risks devastating impact on economies around the world, including widespread unemployment and lower incomes. </span></span></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">According to the report, the economic recession from the COVID-19 pandemic threatens the job security and well-being of over 91 million international migrants from Asia and the Pacific.</span></span></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">Total remittances to Asia are expected to drop between $31.4 billion (baseline scenario) and $54.3 billion (worst-case scenario) in 2020, equivalent to 11.5% and 19.8% of baseline remittances, respectively. </span></span></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">With many households depending on international remittances in developing Asia a sudden stop in remittance flow to these regions could push people into poverty, the report warns.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Meanwhile, the report states that newly recruited migrants and those who were on vacation at home face the bleak prospect of losing their jobs. </span></span></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">“A new batch of Nepali migrant workers bound for the Republic of Korea and Qatar, for example, have been asked to put off their </span></span></span></span><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">departures until further notice”.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The report added that workplace closures applied to 77percent of country observations worldwide toward the end of June 2020.</span></span></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">Alongside the effects of the pandemic on international and domestic travel, trade, investment flows, and other productive activities, the Asian Development Bank (ADB) estimates employment in Asia and the Pacific to be lower by as much as 167 million person months should containment measures last 6 months from when the outbreak first intensified.</span></span></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">According to the report uploaded on ADB website, job cuts in the region are reducing wage income, with estimates of the decline projected to range from $359 billion to $550 billion. </span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-08-07', 'modified' => '2020-08-07', 'keywords' => '', 'description' => '', 'sortorder' => '12033', 'image' => '20200807114825_1596750678.1.jpg', 'article_date' => '2020-08-07 11:45:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '12285', 'article_category_id' => '1', 'title' => 'Government Fails to Implement VAT Rebate on Electronic Transaction ', 'sub_title' => '', 'summary' => 'August 6: The government has not been able to effectively implement its policy to refund value added tax (VAT) for payments made through electronic medium.', 'content' => '<p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">August 6: The government has not been able to effectively implement its policy to refund value added tax (VAT) for payments made through electronic medium.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">The Ministry of Finance had issued the work procedure for refunding VAT on electronic transaction about seven months ago. The refunding process was launched on February 10. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">As per the government policy, any customer making a minimum payment of Rs 1000 to a maximum of Rs 100,000 through electronic transaction would be entitled to get a 10 percent refund on VAT.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">However, the government has failed to implement this policy as the Inland Revenue Department has not been able to adjust the payment system with the payment service providers.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">The government needs to create a National Payment Gateway for effective implementation of payment and VAT rebate. However, the proposed payment gateway is not yet ready and therefore the policy has not been implemented, according to officials of the Inland Revenue Department.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">Deputy Director General of IRD Mukti Acharya informed New Business Age that the department has already corresponded with the Nepal Rastra Bank to prepare the required system. However, the central bank is yet to prepare a one-door payment and discount system, said Acharya. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">He further said that unless the inter-banking transactions are brought under one-door system, the problem of VAT rebate will persist.</span></span></span></p> ', 'published' => true, 'created' => '2020-08-06', 'modified' => '2020-08-06', 'keywords' => '', 'description' => '', 'sortorder' => '12032', 'image' => '20200806035121_finance_ministry.jpg', 'article_date' => '2020-08-06 15:50:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '12284', 'article_category_id' => '1', 'title' => 'Price of Gold Climbs to Rs 102,500 per 11 Grams', 'sub_title' => '', 'summary' => 'August 6: The price of gold has increased by Rs 1100 per tola (11 grams approximately) to reach an all time high of Rs 102,500 on Thursday (August 6).', 'content' => '<p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:20px">August 6: The price of gold has increased by Rs 1100 per tola (11 grams approximately) to reach an all time high of Rs 102,500 on Thursday (August 6).</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:20px">The precious yellow metal was being traded for Rs 101,400 on Wednesday. But according to the Federation of Nepal Gold and Silver Dealers Association, the price increased by Rs 1100 per 11 grams overnight.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:20px">Similarly, the price of silver has also increased by Rs 50 per 11 grams. The new price has been fixed at Rs 1345 per 11 grams.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:20px">The price of gold has been rising steadily since the last few weeks. The price of gold is also increasing in the international market.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:20px">It is believed that the price of gold is rising due to the relief packages announced by various governments worldwide to cope with the coronavirus pandemic and the central banks of those countries lending at exceptionally low rate of interest.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:20px">Due to the uncertainty created by the pandemic, there has been an increase in investors who are willing to invest in gold. Therefore, the price of gold has been steading rising, according to gold dealers of Nepal.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-08-06', 'modified' => '2020-08-06', 'keywords' => '', 'description' => '', 'sortorder' => '12031', 'image' => '20200806031633_gold.jpg', 'article_date' => '2020-08-06 15:15:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '12283', 'article_category_id' => '1', 'title' => 'Tourism Entrepreneurs Express Disappointment toward Tourism Bill', 'sub_title' => '', 'summary' => 'August 6: Tourism stakeholders have expressed discontent over the recently announced tourism bill by the government.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">August 6: Tourism stakeholders have expressed discontent over the recently announced tourism bill by the government.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">The stakeholders have expressed displeasure to the recently amended bill that replaces the previous Tourism Act 2035. Tourism entrepreneurs complained that the government announced the bill without prior consultation with the concerned stakeholders.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">Tourism entrepreneurs have accused the Ministry of Culture, Tourism and Civil Aviation of trying to implement the act in a hurry without any prior discussion. “However, the Act should have been brought only after adequate discussions with concerned stakeholders and with their cooperation,” say tourism entrepreneurs.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">The Ministry of Tourism has sent the draft of the Tourism Bill 2077 to the Ministry of Law for revision. However, the Ministry of Law is yet to return the bill even though it had received it two and a half months ago.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">Tourism Ministry after receiving the draft back from the Ministry of Law will present it to the cabinet and register it in the parliament for endorsement. The Ministry of Culture, Tourism and Civil Aviation said that it has drafted the new bill according to the provision of the federal system. The ministry claims that it has prepared the bill to replace and update the four-decade-old bill. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">However, tourism entrepreneur say that the updated bill has excluded the issue they have been raising.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">Meanwhile, Minister for Tourism Yogesh Bhattarai has assured the stakeholders that the ministry will include their issues and suggestions in the bill. Minister Bhattarai said that the ministry wants to make the bill business-friendly by including necessary advice and suggestions from entrepreneurs. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">"Ministry of Tourism cannot run solely, and the concerns of the private sector are vital for the development of tourism. We will focus more on addressing their concerns,” he informed.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri"><img alt="" src="/app/webroot/userfiles/images/20180513122353_tourism.jpg" style="height:311px; width:800px" /></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-06', 'modified' => '2020-08-06', 'keywords' => '', 'description' => '', 'sortorder' => '12030', 'image' => '20200806024615_20200506031951_120_1571271950.jpg', 'article_date' => '2020-08-06 14:43:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '12281', 'article_category_id' => '1', 'title' => 'Prices of Vegetables up by 250 Percent ', 'sub_title' => '', 'summary' => 'August 6: The price of green vegetables in Kathmandu has skyrocketed since the last three weeks. ', '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 6: The price of green vegetables in Kathmandu has skyrocketed since the last three weeks. According to the daily price list of Kalimati Fruits and Vegetable Development Board (KFVDB), the price of vegetables in the last three weeks has increased by 250 percent. </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"">Middlemen have taken advantage of ineffective monitoring by the government and increased the price on the pretext of rainy season.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">The price of small tomatoes, which was being sold at Rs 12 per kg on July 16, has now increased by 250 percent to Rs 42. Beans are now priced at Rs 115, which is an increase of 203 percent from Rs 38. </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"">Likewise, the price of potato has increased by 31 percent from Rs 51 to Rs 68 per kg. The price of bitter gourd is Rs 45, which is an increase of 80 percent from Rs 25. </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"">Madhav Timilsina, president of Consumer Rights Investigation Forum views that the price of vegetables has increased due to the inability of the Department of Commerce, Supplies and Consumer Protection Management (DoCSM) to effectively monitor the market. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">He said that the superficial monitoring would not stop the price hike. Timilsina added that all three levels of government should coordinate and take steps to reduce the unnecessary price hike by reducing the influence of middlemen. </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"">Consumers are forced to buy vegetables at double rate at retail stores compared to the wholesale rate at Kalimati. Consumers complain that despite the huge difference in wholesale and retail price, the authorized body has not done effective monitoring. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">The DoCSM claims to have been constantly monitoring the market. Director General of the department Netra Prasad Subedi said that they are monitoring the market and if the traders are found to have increased the price arbitrarily, then action will be taken against them.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">The KFVDB has not put the retail price in its daily price list which has allowed the retailers to set price arbitrarily. </span></span></span></p> ', 'published' => true, 'created' => '2020-08-06', 'modified' => '2020-08-06', 'keywords' => '', 'description' => '', 'sortorder' => '12029', 'image' => '20200806125217_1595453904.Clipboard03.jpg', 'article_date' => '2020-08-06 12:51:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '12280', 'article_category_id' => '1', 'title' => 'One Fourth of Workers Laid Off During Lockdown: NRB Report', 'sub_title' => '', 'summary' => 'August 6: A study conducted by Nepal Rastra Bank shows that most of the businesses and industries of Nepal were badly affected by the four-month long lockdown imposed by the government on March 24 to stem the spread of coronavirus.', 'content' => '<p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">August 6: A study conducted by Nepal Rastra Bank shows that most of the businesses and industries of Nepal were badly affected by the four-month long lockdown imposed by the government on March 24 to stem the spread of coronavirus.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">A survey report on impact of Covid-19 on economy unveiled by the central bank on Wednesday (August 5) states that the businesses houses and industries of Nepal laid off almost one fourth of their employees during the lockdown period. The employers were also held accountable for pay-cuts of 18.2 percent in average, according to the report.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">During the lockdown, only four percent of industries and businesses were fully operational while 35 percent remained partially open. According to the report, 61 percent of industries and businesses were completely shut during the lockdown period. Sectors ranging from education and hotel industry to real estate business and public transportation remained closed during lockdown.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">Agriculture, communication and health sectors remained fully operational during the lockdown while mining activities, production of food, distribution of cooking gas, drinking water and other related industries remained partially opened.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">The central bank had conducted the survey from June 8 to 24 in 52 districts involving 674 industries and businesses included in the National Economic Census except the banking and insurance sectors.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">The report states that an average of 22.5 percent of workers were laid off during the lockdown. Seventy percent of those workers were working on contract basis. Gas industries, wholesale and retail businesses, construction companies, and productive sector as well as media were responsible for most of the layoffs, the report states. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">Meanwhile, hotels and restaurants were the ones responsible for maximum pay-cuts. The hotel and hospitality industry had reduced the salary of their staffers by 36.4 percent followed by transportation sector (31.2 percent) and education sector (21.1 percent).</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-06', 'modified' => '2020-08-06', 'keywords' => '', 'description' => '', 'sortorder' => '12028', 'image' => '20200806115609_1595453970.Clipboard05.jpg', 'article_date' => '2020-08-06 11:54:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '12282', 'article_category_id' => '1', 'title' => 'FNCCI forms Committee to Decide on Election Modality ', 'sub_title' => '', 'summary' => 'August 6: The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has formed a six-member committee to prepare a new modality for the upcoming election. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">August 6: The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has formed a six-member committee to prepare a new modality for the upcoming election. A virtual meeting of the executive committee of FNCCI on Wednesday (August 5) decided to prepare a new modality within 15 days to hold the election amid risk of coronavirus pandemic.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">The committee includes executive members of FNCCI Ranjit Acharya, Bharat Acharya, Sunil Gopal Shrestha, Arun Sumargi, Binod Dhakal and DB Basnet. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">The committee has been mandated to prepare a modality to hold the election of FNCCI amid coronavirus pandemic. The committee will hold discussions with experts on whether to hold election through electronic means or to go ahead with regular election process by maintaining physical distance between the voters. FNCCI can either opt for electronic voting or get permission from the government to hold direct election, informed FNCCI executive committee member Krishna Prasad Dulal.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">FNCCI was supposed to hold its 45<sup>th</sup> general convention on April 10-11 and hand over the responsibility of the federation to Senior Vice President Shekhar Golchha. But that has been put on hold due to the coronavirus pandemic. FNCCI had decided to postpone the general convention in mid-March considering the risk of coronavirus. The government then imposed a lockdown on March 24, following which the election became uncertain. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">An executive committee meeting of FNCCI last month decided to hold the general convention on August 10-11. Although the government lifted the lockdown on July 23, it has not lifted ban on mass gathering.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-06', 'modified' => '2020-08-06', 'keywords' => '', 'description' => '', 'sortorder' => '12027', 'image' => '20200806015948_1596664450.Clipboard06.jpg', 'article_date' => '2020-08-06 13:58:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '12277', 'article_category_id' => '1', 'title' => 'Government Agencies Purchasing Logistics without Competitive Bids', 'sub_title' => '', 'summary' => '', 'content' => '<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">August 5: The trend of government agencies purchasing logistics by disregarding the public procurement laws and competitive bidding process is flourishing in the recent days.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The government’s audit reports clearly indicates that ministry of physical infrastructure, urban development ministry, energy ministry and ministry of water resource and their subordinate units have been flouting financial fair play during the procurement process. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Section 8 (2) of the Public Procurement Act 2063 mentions that government bodies cannot purchase logistics by limiting the number of competitors and dividing the deal into smaller parts. But the government bodies have been found making procurements by disregarding this legal provision. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The 57<sup>th</sup> annual report of the Office of the Auditor General states that the government made purchase of logistics and signed deals for infrastructure development worth Rs 72.13 billion without any competitive bidding process within one-year period. Altogether 35 government agencies were involved in such shady deals ranging from construction of government buildings, maintenance and repair, procurement of logistics among others. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">As per the Public Procurement Act, the government has to issue tender bids for any purchase above Rs 2 million. However, the government agencies were found making purchase of less than Rs 2 million multiple times, the report states.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Altogether 116 government agencies were found purchasing logistics worth Rs 2.5 billion without any competitive bids, the 56<sup>th</sup> annual report says. Such practice was limited to deals worth Rs 1.4 billion in the previous year, says the 55<sup>th</sup> annual report.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-05', 'modified' => '2020-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '12026', 'image' => '20200805012638_1596579646.mlp.jpg', 'article_date' => '2020-08-05 13:25:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '12279', 'article_category_id' => '1', 'title' => 'Preparations Underway for 48 Domestic Flights Per Day ', 'sub_title' => '', 'summary' => 'August 5: The Civil Aviation Authority of Nepal (CAAN) has reportedly approved 48 daily flights of various airlines for domestic flights from August 17. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">August 5: The Civil Aviation Authority of Nepal (CAAN) has reportedly approved 48 daily flights of various airlines for domestic flights from August 17. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">According to news reports, CAAN has approved 39 flights in urban areas (trunk routes) and 9 flights for remote areas (stall). As the operation of the flights has been finalised, big domestic airlines including Buddha Air, Yeti Airlines, and Shree Airlines have intensified their preparations for resuming operation by adopting safety measures. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Most of the airlines have already made flight schedules and obtained approval from CAAN. However, CAAN has not yet made public any official decision in this regard. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Yograj Kandel Sharma, spokesperson of Airline Operators Association of Nepal, an umbrella organization of domestic airlines companies said that for now, 48 flights on the trunk route have been approved by the authority. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Buddha Air has received approval for 18 flights. Rupesh Joshi, Marketing Director of Buddha Air, said that all the preparations have been made for resuming operation. He informed that Buddha Air has opened ticket booking as per their plan to fly to all destinations. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Another private sector airline, Yeti Airlines has received approval to operate 11 flights. Spokesperson of the airlines Sudarshan Bartaula informed that the staff are being prepared with all kinds of exercise and health caution in line with the government’s health protocols. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Yeti airlines will operate 11 flights initially. The company said that they will gradually add flights depending on the situation. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Similarly, Shree Airlines, which has received eight flight permit, is also preparing for safe flights. Anil Manandhar, institutional manager of the company, said that all preparations for resuming flights have been made. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Moreover, Sita and Sumit Airlines have received permission for three flights per day while Simrik Airline has received permission to operate two flights a day. The flight for Saurya Airline has not been confirmed as the aircraft of the company is grounded. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"> </span></span></p> ', 'published' => true, 'created' => '2020-08-05', 'modified' => '2020-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '12025', 'image' => '20200805015856_nepali_flights.jpg', 'article_date' => '2020-08-05 13:58:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '12278', 'article_category_id' => '1', 'title' => 'Businessmen in Raxaul Face Heavy Losses due to lack of Customers from Nepal', 'sub_title' => '', 'summary' => 'August 5: Traders and businessmen of Raxaul, which lies across the border in India, from Birgunj, are facing a hard time paying their rent and salary to the staffers. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Devanagari Sangam MN"">August 5: </span></span><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Traders and businessmen of Raxaul, which lies across the border in India, from Birgunj, are facing a hard time paying their rent and salary to the staffers. Their business have come to a complete halt after the Nepal-India border was closed to control 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:"Bangla MN"">India’s Bihar state has currently imposed a lockdown due to surge in Covid-19 cases. The border remained closed even when the state government had lifted the lockdown earlier. </span></span></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"">Operator of Jaya Nepal CD Showroom in Raxaul, Bimal Agrawal, informed New Business Age that they have not been able to do any business due to the closure of the international border.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">The market of Raxaul is mainly dependent on customers from Nepal. Almost two-thirds of the customers are from Nepal. The businessmen from Raxaul say that they have been bearing huge amount of losses due to the closure of border.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Generally,, customers from Birgunj of Parsa and the nearby rural areas as well as people from Bara, Simara, Jitpur, Makwanpur and Hetauda visit Raxaul for shopping.</span></span></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"">“There used to be hundreds of Nepali customers in Raxaul before the lockdown. But the measures to contain coronavirus has had a devastating effect on our business,” said Agrawal.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">“Clothes, food items, utensils and electrical goods are mostly purchased by Nepali customers,” said Agrawal.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">He added that the businessmen of Bank Road and Lohar Patti have closed their shops after the border was sealed. According to Agrawal, the businessmen were forced to give up their trade after failing to pay the rent and staffers.</span></span></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 cost of rent and monthly salary of staffers alone reaches anything between IRs 50,000 to IRs 200,000. But we have not been able to sell goods worth Rs 2000 to Rs 3000 per day,” said Agrawal.</span></span></span></span></p> ', 'published' => true, 'created' => '2020-08-05', 'modified' => '2020-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '12024', 'image' => '20200805014906_raxualbazar_filephoto.jpg', 'article_date' => '2020-08-05 13:48:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '12276', 'article_category_id' => '1', 'title' => 'Price of Gold Crosses Rs 100,000 Mark', 'sub_title' => '', 'summary' => 'August 5: The price of gold has crossed the mark of Rs 100,000 per tola (11 grams approximately) for the first time in the country.', '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 5: The price of gold has crossed the mark of Rs 100,000 per tola (11 grams approximately) for the first time in the country. Fine gold in being traded for a record high price of Rs 101,400 per 11 grams, according to the Federation of Nepal Gold and Silver Dealers Association.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The new price on Wednesday (August 5) is an overnight increase of Rs 1600 per 11 grams.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The price of gold in the domestic market on Tuesday was Rs 99,800 per tola. </span></span></span></span></p> <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, silver is being traded for Rs 1295 per 11 grams, Rs 65 up from Rs 1230 per a day 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"">Gold dealers say that the price of the precious yellow metal is steadily rising due to the high demand for gold in the international market.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">It is said that investors are interested in gold to secure their investment in the international market amid risks of coronavirus pandemic.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-08-05', 'modified' => '2020-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '12023', 'image' => '20200805125608_20200804052953_gold.jpg', 'article_date' => '2020-08-05 12:55:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, '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
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 133]file not found!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' => '12290', 'article_category_id' => '1', 'title' => 'Price of Gold Rising Consistently', 'sub_title' => '', 'summary' => 'August 7: The price of gold has set another benchmark on Friday with an increase of Rs 1000 per tola (11 grams approximately). ', '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 7: The price of gold has set another benchmark on Friday with an increase of Rs 1000 per tola (11 grams approximately). </span></span></span></span></p> <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 Federation of Nepal Gold and Silver Dealers Association, the precious yellow metal is being traded for Rs 103,500 per 11 grams on Friday (August 7), with an overnight increase of Rs 1000.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The price of silver has also increased by Rs 60 per 11 grams. Silver is being traded for Rs 1405 per tola on Friday. The price of silver is also an all-time high in the Nepali market. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The price of gold has been consistently rising since the last few weeks. The price of gold is also increasing in the international market.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:15.0pt"><span style="font-family:Arial">It is believed that the price of gold is rising due to the relief packages announced by various governments worldwide to cope with the coronavirus pandemic and the central banks of those countries lending at exceptionally low rate of interest.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:15.0pt"><span style="font-family:Arial">International investors are said to be heavily investing on gold to secure their investment amid uncertainty created by the pandemic. This has also contributed to the rise in price of gold.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-07', 'modified' => '2020-08-07', 'keywords' => '', 'description' => '', 'sortorder' => '12037', 'image' => '20200807031218_gold.jpg', 'article_date' => '2020-08-07 15:11:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '12289', 'article_category_id' => '1', 'title' => 'Cabinet Assigns Energy Ministry to Resolve Issue of Dedicated Feeder', 'sub_title' => '', 'summary' => 'August 6: The government has assigned the Ministry of Energy to resolve the dispute regarding the electricity tariff imposed on dedicated feeder and trunk line after the end of load-shedding in the country.', '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 6: The government has assigned the Ministry of Energy to resolve the dispute regarding the electricity tariff imposed on dedicated feeder and trunk line after the end of load-shedding in the country.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">A meeting of the council of ministers on Monday handed the responsibility to the energy ministry to resolve the dispute by implementing recommendations suggested in a report prepared by a probe committee.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Government spokesperson and Minister for Communication and Information Technology Yuba Raj Khatiwada informed about the decision during a press conference on Thursday (August 6).</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The government had earlier formed a committee headed by energy secretary Dinesh Ghimire to resolve the dispute regarding dedicated feeder and trunk line. The committee had submitted a report with necessary recommendations to the council of ministers three weeks ago. The cabinet has instructed the energy ministry to resolve the issue as per the recommendation of the report.</span></span></span></span></p> <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 report has recommended the government to allow the Electricity Regulatory Commission to decide on the electricity tariff after the end of load-shedding. </span></span></span></span></p> <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 Electricity Authority had supplied electricity to industries through dedicated feeder and trunk line at 65 percent additional charge between 2071 BS to 2075 BS amid load-shedding crisis.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Although the problem of load-shedding came to an end since early 2075, NEA has been charging the same rate to the industrialists till date. However, the industrialists have said they will not pay any additional charges after the load-shedding was ended.</span></span></span></span></p> ', 'published' => true, 'created' => '2020-08-07', 'modified' => '2020-08-07', 'keywords' => '', 'description' => '', 'sortorder' => '12036', 'image' => '20200807030044_1596750181.Clipboard01.jpg', 'article_date' => '2020-08-07 15:00:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '12288', 'article_category_id' => '1', 'title' => 'Lockdown Triggers a Surge in Online Accounts', 'sub_title' => '', 'summary' => 'August 7: There has been an increase in the number of customers opening online account during the lockdown period. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">August 7: There has been an increase in the number of customers opening online account during the lockdown period. Although the customers can deposit the money online, they have to go to the bank to withdraw it. This poses a challenge to promote digital transaction. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Due to Covid-19 infection and subsequent lockdown, majority of banks have insisted on opening online accounts. Banks have also been promoting online account. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Nabil Bank first started opening accounts online eight years ago. Bhuvan Kumar Dahal, president of Nepal Bankers’ Association says although the online account was initiated a long time ago, it has become more effective during the lockdown. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Bankers say that 945,350 new depositors have been added to the list of commercial banks’ customers after February and most of them have opened online accounts. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Banks including Nabil, NIC Asia, Citizens, and NMB have provided the facility to open an account via Facebook and Viber to make it effective. CEO of NMB bank Sunil KC informed that around 10,000 accounts have been opened during lockdown from such facilities. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">“We have received very good response to this new approach. At present, the emphasis should be given to online accounts and digital transactions,” he told New Business Age, adding, “Such transaction would maintain physical distance, is safe, reliable, saves time and is less expensive.” </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">NIC Asia Bank said that the initiative of opening free online account from home has become more effective. The bank says that they will continue the facility as opening online account has been increasing. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Bankers say that Nepalis residing abroad had benefitted more from such facilities in the past. They say that those who are not accustomed to online go to the bank. Therefore, there’s still a challenge to get used to digital transaction, says Anil Sharma, executive director of Nepal Bankers Association. “Now the already opened accounts need to be continuously activated in digital transactions,” he said. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-07', 'modified' => '2020-08-07', 'keywords' => '', 'description' => '', 'sortorder' => '12035', 'image' => '20200807014145_1596751231.Clipboard08.jpg', 'article_date' => '2020-08-07 13:41:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '12287', 'article_category_id' => '1', 'title' => 'BIFs Contradict Central Bank Report on Providing Discount on Interest Rate', 'sub_title' => '', 'summary' => 'August 7: Nepal Rastra Bank recently unveiled a report which stated that banks and financial institutions (BFIs) did not facilitate their customers in payment of loan installment and provide discount on interest rate during lockdown period as per its instruction.', '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 7: Nepal Rastra Bank recently unveiled a report which stated that banks and financial institutions (BFIs) did not facilitate their customers in payment of loan installment and provide discount on interest rate during lockdown period as per its instruction. However, BFIs claimed that they have followed the central bank’s instruction and provide such facilities to the customers.</span></span></span></span></p> <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 survey report unveiled by NRB on Wednesday (August 5) mentions that 71.6 percent of industries and business enterprises could not avail the discount from BFIs despite the central bank’s directive. Only 17.3 percent of businesses took advantage of such privilege.</span></span></span></span></p> <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 Bankers’ Association argues that the survey conducted from June 8 to 24 has not included the overall data.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“Nepal Rastra Bank directed us not to charge any interest to the customers on towards the end of April. However, BFIs could adjust the discounts only at the end of the fourth quarter (mid-July) of the last fiscal year in accordance to the banking system. Therefore, the survey excluded the discount we provided because the adjustment was made after the central bank’s study,” said Bhuvan Dahal, chairman of Nepal Bankers’ Association.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“All the details are available in the automated system. The discount might have been adjusted after the survey,” added Dahal.</span></span></span></span></p> <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 central bank had instructed BFIs to provide 10 percent discount on interest rate to customers who repay their loan between mid-March to mid-July. Likewise, the central bank had also ordered BFIs to provide 2 percent discount on interest rate to other customers till mid-July. However, the bankers had urged the central bank to review the decision and implement it only for the sectors affected by Covid-19. This is also another reason for the delay in implementation of the directive, says Dahal.</span></span></span></span></p> ', 'published' => true, 'created' => '2020-08-07', 'modified' => '2020-08-07', 'keywords' => '', 'description' => '', 'sortorder' => '12034', 'image' => '20200807011001_1596750599.Clipboard05.jpg', 'article_date' => '2020-08-07 13:09:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '12286', 'article_category_id' => '1', 'title' => 'Remittance Inflow to Nepal Expected to Shrink by almost 29 Percent', 'sub_title' => '', 'summary' => 'August 7: The Asian Development Bank (ADB) has projected Nepal’s remittance inflow to shrink by almost 29 percent.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">August 7: The Asian Development Bank (ADB) has projected Nepal’s remittance inflow to shrink by almost 29 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">According to the latest report of ADB, Nepal leads the group of five Asian economies where remittance inflow could fall sharply in 2020 due to the impact of coronavirus pandemic.</span></span></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">Migrant workers may be among the hardest hit groups, says the report entitled ‘COVID-19 Impact on International Migration, Remittances, and Recipient Households in Developing Asia’ which was published recently.</span></span></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">“Among developing Asian economies: the five worst-affected are Nepal, where remittances could fall by 28.7%; Tajikistan (27.9%), Bangladesh (27.8%), Pakistan (26.8%), and the Kyrgyz Republic (25.2%),” states the report posted on ADB’s website. </span></span></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 coronavirus pandemic risks devastating impact on economies around the world, including widespread unemployment and lower incomes. </span></span></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">According to the report, the economic recession from the COVID-19 pandemic threatens the job security and well-being of over 91 million international migrants from Asia and the Pacific.</span></span></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">Total remittances to Asia are expected to drop between $31.4 billion (baseline scenario) and $54.3 billion (worst-case scenario) in 2020, equivalent to 11.5% and 19.8% of baseline remittances, respectively. </span></span></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">With many households depending on international remittances in developing Asia a sudden stop in remittance flow to these regions could push people into poverty, the report warns.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Meanwhile, the report states that newly recruited migrants and those who were on vacation at home face the bleak prospect of losing their jobs. </span></span></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">“A new batch of Nepali migrant workers bound for the Republic of Korea and Qatar, for example, have been asked to put off their </span></span></span></span><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">departures until further notice”.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The report added that workplace closures applied to 77percent of country observations worldwide toward the end of June 2020.</span></span></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">Alongside the effects of the pandemic on international and domestic travel, trade, investment flows, and other productive activities, the Asian Development Bank (ADB) estimates employment in Asia and the Pacific to be lower by as much as 167 million person months should containment measures last 6 months from when the outbreak first intensified.</span></span></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">According to the report uploaded on ADB website, job cuts in the region are reducing wage income, with estimates of the decline projected to range from $359 billion to $550 billion. </span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-08-07', 'modified' => '2020-08-07', 'keywords' => '', 'description' => '', 'sortorder' => '12033', 'image' => '20200807114825_1596750678.1.jpg', 'article_date' => '2020-08-07 11:45:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '12285', 'article_category_id' => '1', 'title' => 'Government Fails to Implement VAT Rebate on Electronic Transaction ', 'sub_title' => '', 'summary' => 'August 6: The government has not been able to effectively implement its policy to refund value added tax (VAT) for payments made through electronic medium.', 'content' => '<p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">August 6: The government has not been able to effectively implement its policy to refund value added tax (VAT) for payments made through electronic medium.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">The Ministry of Finance had issued the work procedure for refunding VAT on electronic transaction about seven months ago. The refunding process was launched on February 10. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">As per the government policy, any customer making a minimum payment of Rs 1000 to a maximum of Rs 100,000 through electronic transaction would be entitled to get a 10 percent refund on VAT.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">However, the government has failed to implement this policy as the Inland Revenue Department has not been able to adjust the payment system with the payment service providers.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">The government needs to create a National Payment Gateway for effective implementation of payment and VAT rebate. However, the proposed payment gateway is not yet ready and therefore the policy has not been implemented, according to officials of the Inland Revenue Department.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">Deputy Director General of IRD Mukti Acharya informed New Business Age that the department has already corresponded with the Nepal Rastra Bank to prepare the required system. However, the central bank is yet to prepare a one-door payment and discount system, said Acharya. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">He further said that unless the inter-banking transactions are brought under one-door system, the problem of VAT rebate will persist.</span></span></span></p> ', 'published' => true, 'created' => '2020-08-06', 'modified' => '2020-08-06', 'keywords' => '', 'description' => '', 'sortorder' => '12032', 'image' => '20200806035121_finance_ministry.jpg', 'article_date' => '2020-08-06 15:50:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '12284', 'article_category_id' => '1', 'title' => 'Price of Gold Climbs to Rs 102,500 per 11 Grams', 'sub_title' => '', 'summary' => 'August 6: The price of gold has increased by Rs 1100 per tola (11 grams approximately) to reach an all time high of Rs 102,500 on Thursday (August 6).', 'content' => '<p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:20px">August 6: The price of gold has increased by Rs 1100 per tola (11 grams approximately) to reach an all time high of Rs 102,500 on Thursday (August 6).</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:20px">The precious yellow metal was being traded for Rs 101,400 on Wednesday. But according to the Federation of Nepal Gold and Silver Dealers Association, the price increased by Rs 1100 per 11 grams overnight.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:20px">Similarly, the price of silver has also increased by Rs 50 per 11 grams. The new price has been fixed at Rs 1345 per 11 grams.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:20px">The price of gold has been rising steadily since the last few weeks. The price of gold is also increasing in the international market.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:20px">It is believed that the price of gold is rising due to the relief packages announced by various governments worldwide to cope with the coronavirus pandemic and the central banks of those countries lending at exceptionally low rate of interest.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:20px">Due to the uncertainty created by the pandemic, there has been an increase in investors who are willing to invest in gold. Therefore, the price of gold has been steading rising, according to gold dealers of Nepal.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-08-06', 'modified' => '2020-08-06', 'keywords' => '', 'description' => '', 'sortorder' => '12031', 'image' => '20200806031633_gold.jpg', 'article_date' => '2020-08-06 15:15:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '12283', 'article_category_id' => '1', 'title' => 'Tourism Entrepreneurs Express Disappointment toward Tourism Bill', 'sub_title' => '', 'summary' => 'August 6: Tourism stakeholders have expressed discontent over the recently announced tourism bill by the government.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">August 6: Tourism stakeholders have expressed discontent over the recently announced tourism bill by the government.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">The stakeholders have expressed displeasure to the recently amended bill that replaces the previous Tourism Act 2035. Tourism entrepreneurs complained that the government announced the bill without prior consultation with the concerned stakeholders.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">Tourism entrepreneurs have accused the Ministry of Culture, Tourism and Civil Aviation of trying to implement the act in a hurry without any prior discussion. “However, the Act should have been brought only after adequate discussions with concerned stakeholders and with their cooperation,” say tourism entrepreneurs.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">The Ministry of Tourism has sent the draft of the Tourism Bill 2077 to the Ministry of Law for revision. However, the Ministry of Law is yet to return the bill even though it had received it two and a half months ago.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">Tourism Ministry after receiving the draft back from the Ministry of Law will present it to the cabinet and register it in the parliament for endorsement. The Ministry of Culture, Tourism and Civil Aviation said that it has drafted the new bill according to the provision of the federal system. The ministry claims that it has prepared the bill to replace and update the four-decade-old bill. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">However, tourism entrepreneur say that the updated bill has excluded the issue they have been raising.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">Meanwhile, Minister for Tourism Yogesh Bhattarai has assured the stakeholders that the ministry will include their issues and suggestions in the bill. Minister Bhattarai said that the ministry wants to make the bill business-friendly by including necessary advice and suggestions from entrepreneurs. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">"Ministry of Tourism cannot run solely, and the concerns of the private sector are vital for the development of tourism. We will focus more on addressing their concerns,” he informed.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri"><img alt="" src="/app/webroot/userfiles/images/20180513122353_tourism.jpg" style="height:311px; width:800px" /></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-06', 'modified' => '2020-08-06', 'keywords' => '', 'description' => '', 'sortorder' => '12030', 'image' => '20200806024615_20200506031951_120_1571271950.jpg', 'article_date' => '2020-08-06 14:43:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '12281', 'article_category_id' => '1', 'title' => 'Prices of Vegetables up by 250 Percent ', 'sub_title' => '', 'summary' => 'August 6: The price of green vegetables in Kathmandu has skyrocketed since the last three weeks. ', '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 6: The price of green vegetables in Kathmandu has skyrocketed since the last three weeks. According to the daily price list of Kalimati Fruits and Vegetable Development Board (KFVDB), the price of vegetables in the last three weeks has increased by 250 percent. </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"">Middlemen have taken advantage of ineffective monitoring by the government and increased the price on the pretext of rainy season.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">The price of small tomatoes, which was being sold at Rs 12 per kg on July 16, has now increased by 250 percent to Rs 42. Beans are now priced at Rs 115, which is an increase of 203 percent from Rs 38. </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"">Likewise, the price of potato has increased by 31 percent from Rs 51 to Rs 68 per kg. The price of bitter gourd is Rs 45, which is an increase of 80 percent from Rs 25. </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"">Madhav Timilsina, president of Consumer Rights Investigation Forum views that the price of vegetables has increased due to the inability of the Department of Commerce, Supplies and Consumer Protection Management (DoCSM) to effectively monitor the market. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">He said that the superficial monitoring would not stop the price hike. Timilsina added that all three levels of government should coordinate and take steps to reduce the unnecessary price hike by reducing the influence of middlemen. </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"">Consumers are forced to buy vegetables at double rate at retail stores compared to the wholesale rate at Kalimati. Consumers complain that despite the huge difference in wholesale and retail price, the authorized body has not done effective monitoring. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">The DoCSM claims to have been constantly monitoring the market. Director General of the department Netra Prasad Subedi said that they are monitoring the market and if the traders are found to have increased the price arbitrarily, then action will be taken against them.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">The KFVDB has not put the retail price in its daily price list which has allowed the retailers to set price arbitrarily. </span></span></span></p> ', 'published' => true, 'created' => '2020-08-06', 'modified' => '2020-08-06', 'keywords' => '', 'description' => '', 'sortorder' => '12029', 'image' => '20200806125217_1595453904.Clipboard03.jpg', 'article_date' => '2020-08-06 12:51:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '12280', 'article_category_id' => '1', 'title' => 'One Fourth of Workers Laid Off During Lockdown: NRB Report', 'sub_title' => '', 'summary' => 'August 6: A study conducted by Nepal Rastra Bank shows that most of the businesses and industries of Nepal were badly affected by the four-month long lockdown imposed by the government on March 24 to stem the spread of coronavirus.', 'content' => '<p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">August 6: A study conducted by Nepal Rastra Bank shows that most of the businesses and industries of Nepal were badly affected by the four-month long lockdown imposed by the government on March 24 to stem the spread of coronavirus.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">A survey report on impact of Covid-19 on economy unveiled by the central bank on Wednesday (August 5) states that the businesses houses and industries of Nepal laid off almost one fourth of their employees during the lockdown period. The employers were also held accountable for pay-cuts of 18.2 percent in average, according to the report.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">During the lockdown, only four percent of industries and businesses were fully operational while 35 percent remained partially open. According to the report, 61 percent of industries and businesses were completely shut during the lockdown period. Sectors ranging from education and hotel industry to real estate business and public transportation remained closed during lockdown.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">Agriculture, communication and health sectors remained fully operational during the lockdown while mining activities, production of food, distribution of cooking gas, drinking water and other related industries remained partially opened.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">The central bank had conducted the survey from June 8 to 24 in 52 districts involving 674 industries and businesses included in the National Economic Census except the banking and insurance sectors.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">The report states that an average of 22.5 percent of workers were laid off during the lockdown. Seventy percent of those workers were working on contract basis. Gas industries, wholesale and retail businesses, construction companies, and productive sector as well as media were responsible for most of the layoffs, the report states. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">Meanwhile, hotels and restaurants were the ones responsible for maximum pay-cuts. The hotel and hospitality industry had reduced the salary of their staffers by 36.4 percent followed by transportation sector (31.2 percent) and education sector (21.1 percent).</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-06', 'modified' => '2020-08-06', 'keywords' => '', 'description' => '', 'sortorder' => '12028', 'image' => '20200806115609_1595453970.Clipboard05.jpg', 'article_date' => '2020-08-06 11:54:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '12282', 'article_category_id' => '1', 'title' => 'FNCCI forms Committee to Decide on Election Modality ', 'sub_title' => '', 'summary' => 'August 6: The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has formed a six-member committee to prepare a new modality for the upcoming election. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">August 6: The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has formed a six-member committee to prepare a new modality for the upcoming election. A virtual meeting of the executive committee of FNCCI on Wednesday (August 5) decided to prepare a new modality within 15 days to hold the election amid risk of coronavirus pandemic.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">The committee includes executive members of FNCCI Ranjit Acharya, Bharat Acharya, Sunil Gopal Shrestha, Arun Sumargi, Binod Dhakal and DB Basnet. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">The committee has been mandated to prepare a modality to hold the election of FNCCI amid coronavirus pandemic. The committee will hold discussions with experts on whether to hold election through electronic means or to go ahead with regular election process by maintaining physical distance between the voters. FNCCI can either opt for electronic voting or get permission from the government to hold direct election, informed FNCCI executive committee member Krishna Prasad Dulal.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">FNCCI was supposed to hold its 45<sup>th</sup> general convention on April 10-11 and hand over the responsibility of the federation to Senior Vice President Shekhar Golchha. But that has been put on hold due to the coronavirus pandemic. FNCCI had decided to postpone the general convention in mid-March considering the risk of coronavirus. The government then imposed a lockdown on March 24, following which the election became uncertain. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">An executive committee meeting of FNCCI last month decided to hold the general convention on August 10-11. Although the government lifted the lockdown on July 23, it has not lifted ban on mass gathering.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-06', 'modified' => '2020-08-06', 'keywords' => '', 'description' => '', 'sortorder' => '12027', 'image' => '20200806015948_1596664450.Clipboard06.jpg', 'article_date' => '2020-08-06 13:58:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '12277', 'article_category_id' => '1', 'title' => 'Government Agencies Purchasing Logistics without Competitive Bids', 'sub_title' => '', 'summary' => '', 'content' => '<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">August 5: The trend of government agencies purchasing logistics by disregarding the public procurement laws and competitive bidding process is flourishing in the recent days.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The government’s audit reports clearly indicates that ministry of physical infrastructure, urban development ministry, energy ministry and ministry of water resource and their subordinate units have been flouting financial fair play during the procurement process. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Section 8 (2) of the Public Procurement Act 2063 mentions that government bodies cannot purchase logistics by limiting the number of competitors and dividing the deal into smaller parts. But the government bodies have been found making procurements by disregarding this legal provision. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The 57<sup>th</sup> annual report of the Office of the Auditor General states that the government made purchase of logistics and signed deals for infrastructure development worth Rs 72.13 billion without any competitive bidding process within one-year period. Altogether 35 government agencies were involved in such shady deals ranging from construction of government buildings, maintenance and repair, procurement of logistics among others. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">As per the Public Procurement Act, the government has to issue tender bids for any purchase above Rs 2 million. However, the government agencies were found making purchase of less than Rs 2 million multiple times, the report states.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Altogether 116 government agencies were found purchasing logistics worth Rs 2.5 billion without any competitive bids, the 56<sup>th</sup> annual report says. Such practice was limited to deals worth Rs 1.4 billion in the previous year, says the 55<sup>th</sup> annual report.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-05', 'modified' => '2020-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '12026', 'image' => '20200805012638_1596579646.mlp.jpg', 'article_date' => '2020-08-05 13:25:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '12279', 'article_category_id' => '1', 'title' => 'Preparations Underway for 48 Domestic Flights Per Day ', 'sub_title' => '', 'summary' => 'August 5: The Civil Aviation Authority of Nepal (CAAN) has reportedly approved 48 daily flights of various airlines for domestic flights from August 17. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">August 5: The Civil Aviation Authority of Nepal (CAAN) has reportedly approved 48 daily flights of various airlines for domestic flights from August 17. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">According to news reports, CAAN has approved 39 flights in urban areas (trunk routes) and 9 flights for remote areas (stall). As the operation of the flights has been finalised, big domestic airlines including Buddha Air, Yeti Airlines, and Shree Airlines have intensified their preparations for resuming operation by adopting safety measures. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Most of the airlines have already made flight schedules and obtained approval from CAAN. However, CAAN has not yet made public any official decision in this regard. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Yograj Kandel Sharma, spokesperson of Airline Operators Association of Nepal, an umbrella organization of domestic airlines companies said that for now, 48 flights on the trunk route have been approved by the authority. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Buddha Air has received approval for 18 flights. Rupesh Joshi, Marketing Director of Buddha Air, said that all the preparations have been made for resuming operation. He informed that Buddha Air has opened ticket booking as per their plan to fly to all destinations. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Another private sector airline, Yeti Airlines has received approval to operate 11 flights. Spokesperson of the airlines Sudarshan Bartaula informed that the staff are being prepared with all kinds of exercise and health caution in line with the government’s health protocols. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Yeti airlines will operate 11 flights initially. The company said that they will gradually add flights depending on the situation. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Similarly, Shree Airlines, which has received eight flight permit, is also preparing for safe flights. Anil Manandhar, institutional manager of the company, said that all preparations for resuming flights have been made. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Moreover, Sita and Sumit Airlines have received permission for three flights per day while Simrik Airline has received permission to operate two flights a day. The flight for Saurya Airline has not been confirmed as the aircraft of the company is grounded. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"> </span></span></p> ', 'published' => true, 'created' => '2020-08-05', 'modified' => '2020-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '12025', 'image' => '20200805015856_nepali_flights.jpg', 'article_date' => '2020-08-05 13:58:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '12278', 'article_category_id' => '1', 'title' => 'Businessmen in Raxaul Face Heavy Losses due to lack of Customers from Nepal', 'sub_title' => '', 'summary' => 'August 5: Traders and businessmen of Raxaul, which lies across the border in India, from Birgunj, are facing a hard time paying their rent and salary to the staffers. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Devanagari Sangam MN"">August 5: </span></span><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Traders and businessmen of Raxaul, which lies across the border in India, from Birgunj, are facing a hard time paying their rent and salary to the staffers. Their business have come to a complete halt after the Nepal-India border was closed to control 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:"Bangla MN"">India’s Bihar state has currently imposed a lockdown due to surge in Covid-19 cases. The border remained closed even when the state government had lifted the lockdown earlier. </span></span></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"">Operator of Jaya Nepal CD Showroom in Raxaul, Bimal Agrawal, informed New Business Age that they have not been able to do any business due to the closure of the international border.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">The market of Raxaul is mainly dependent on customers from Nepal. Almost two-thirds of the customers are from Nepal. The businessmen from Raxaul say that they have been bearing huge amount of losses due to the closure of border.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Generally,, customers from Birgunj of Parsa and the nearby rural areas as well as people from Bara, Simara, Jitpur, Makwanpur and Hetauda visit Raxaul for shopping.</span></span></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"">“There used to be hundreds of Nepali customers in Raxaul before the lockdown. But the measures to contain coronavirus has had a devastating effect on our business,” said Agrawal.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">“Clothes, food items, utensils and electrical goods are mostly purchased by Nepali customers,” said Agrawal.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">He added that the businessmen of Bank Road and Lohar Patti have closed their shops after the border was sealed. According to Agrawal, the businessmen were forced to give up their trade after failing to pay the rent and staffers.</span></span></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 cost of rent and monthly salary of staffers alone reaches anything between IRs 50,000 to IRs 200,000. But we have not been able to sell goods worth Rs 2000 to Rs 3000 per day,” said Agrawal.</span></span></span></span></p> ', 'published' => true, 'created' => '2020-08-05', 'modified' => '2020-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '12024', 'image' => '20200805014906_raxualbazar_filephoto.jpg', 'article_date' => '2020-08-05 13:48:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '12276', 'article_category_id' => '1', 'title' => 'Price of Gold Crosses Rs 100,000 Mark', 'sub_title' => '', 'summary' => 'August 5: The price of gold has crossed the mark of Rs 100,000 per tola (11 grams approximately) for the first time in the country.', '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 5: The price of gold has crossed the mark of Rs 100,000 per tola (11 grams approximately) for the first time in the country. Fine gold in being traded for a record high price of Rs 101,400 per 11 grams, according to the Federation of Nepal Gold and Silver Dealers Association.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The new price on Wednesday (August 5) is an overnight increase of Rs 1600 per 11 grams.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The price of gold in the domestic market on Tuesday was Rs 99,800 per tola. </span></span></span></span></p> <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, silver is being traded for Rs 1295 per 11 grams, Rs 65 up from Rs 1230 per a day 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"">Gold dealers say that the price of the precious yellow metal is steadily rising due to the high demand for gold in the international market.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">It is said that investors are interested in gold to secure their investment in the international market amid risks of coronavirus pandemic.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-08-05', 'modified' => '2020-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '12023', 'image' => '20200805125608_20200804052953_gold.jpg', 'article_date' => '2020-08-05 12:55:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, '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
