August 5: Work progress of P1 projects, which fall under the first priority of the Department of Roads (DoR), remained dismal in the last fiscal year.…
August 5: Work progress of P1 projects, which fall under the first priority of the Department of Roads (DoR), remained dismal in the last fiscal year.…
August 5: Health experts have suggested the government to take the issue of coronavirus seriously as the infection has been spreading rapidly after the government lifted the…
August 5: The Department of Transportation Management (DoTM) has suspended distribution of driving license from all four offices within the Kathmandu Valley.…
August 4: Nepal Oil Corporation has given permission to 23 tankers to transport aviation fuel by ignoring its own bylaws.…
August 4: The price of gold has reached Rs 99,800 per tola (11 grams approximately).…
August 4: It has been two weeks since the government lifted lockdown, but the flow of loan from banks has not seen any significant improvement.…
August 4: International and domestic airline companies have started gearing up to resume their service after the government decided to lift the ban of air service from August 17.…
August 4: The government has appointed engineer Sushil Bhatta as the CEO of Investment Board…
August 2: Life insurance companies recorded significant increase in their business during the last fiscal year amid threat of coronavirus…
August 2: Birgunj Customs Office has once again maintained its reputation as the main customs point of the country with maximum export during the last fiscal…
August 2: Transport entrepreneurs have not been following the criteria set by the government for operating the public vehicles within the districts after the government lifted an ban on vehicular movement which was in effect during the four months long lockdown.…
Aug 2: Around 700 persons have filed application for the seed capital announced by the government for start-up…
August 2: Nepal Oil Corporation has increased the price of petroleum products effective from Saturday midnight (August 1).…
July 31: Nepal Rastra Bank (NRB) has been repeatedly mopping excess liquidity from banks and financial institutions (BFIs) since the last three…
July 31: Small hotels and restaurants have opened from Thursday (July 30) after the government lifted a ban on hospitality industry after ending the months-long lockdown…
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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 5: Work progress of P1 projects, which fall under the first priority of the Department of Roads (DoR), remained dismal in the last fiscal year. Out of 42 P1 projects under the department, only 6 achieved more than 80 percent work progress during fiscal year 2019/20.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">According to the department, 19 such projects have achieved work progress of 50 to 80 percent while the progress of 17 projects is less than 50 percent. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Similarly, the national pride projects have also failed to impress if the work progress in taken into consideration.</span></span></span></span></p> <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 DoR has failed to achieve its target set for national pride projects and other priority projects. The department has blamed coronavirus pandemic and the subsequent lockdown as well as half a dozen other reasons for the failure to meet its target.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The government had allocated Rs 127 billion to the department. However, it was able to spend only Rs 69.48 billion, which is 67.29 percent of the total budget.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">In the past, the department used to spend over 80 percent of the allocated budget.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Spokesperson at the department Shiva Hari Sapkota told New Business Age that they could not meet their target due to the coronavirus pandemic.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">In the past one year, the department was able to blacktop 729 kilometers of road in the national road network. The department had set a target of blacktopping 1200 kilometers of road during the last fiscal year but was able to achieve only 60.75 percent of the target.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Bureaucratic red tape and other hurdles in release of foreign grant and assistance is another major reason for the delay in work completion. Other factors include delay in approval of Environment Impact Assessment, compensation distribution and land acquisition, obstruction by locals demanding more compensation, human resource management for projects handed over to the provincial governments among others.</span></span></span></span></p> ', 'published' => true, 'created' => '2020-08-05', 'modified' => '2020-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '12022', 'image' => '20200805115301_1596580326.Clipboard13a.jpg', 'article_date' => '2020-08-05 11:52:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '12273', 'article_category_id' => '1', 'title' => 'Health Experts Urge Government to Impose Lockdown and Curfew if Required', 'sub_title' => '', 'summary' => 'August 5: Health experts have suggested the government to take the issue of coronavirus seriously as the infection has been spreading rapidly after the government lifted the lockdown.', '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: Health experts have suggested the government to take the issue of coronavirus seriously as the infection has been spreading rapidly after the government lifted the lockdown.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The experts warned the government during a meeting with stakeholders at the Prime Minister’s Official Residence in Baluwatar Tuesday (August 4) that the pandemic is likely to inflict heavy losses if adequate measures are not taken promptly. They urged the government to impose strict measures in places with high rate of infection.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">They recommended the government to either adopt strict measures in high-risk areas or to impose lockdown for another two weeks to stem the spread of the deadly disease. They suggested the government to impose curfew if necessary and seal the affected areas completely. They also urged the government not to allow entry of any foreign nationals into 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"">The government had lifted the four-month long lockdown imposed on March 24 about two weeks ago. Cases of coronavirus have been increasing rapidly after the government lifted the lockdown. Stating that the coronavirus pandemic would take a dangerous form if the current situation persists, the health experts urged the government to take strict and effective measures to curb the disease. </span></span></span></span></p> <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 experts concluded that the public has not been adopting necessary precautionary measures while the government’s decision to downplay the seriousness of the issue has further heightened the risk of disease transmission.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Public health expert Dr Sameer Mani Dixit informed that they suggested the government to adopt strict measures in areas with high rate of infection and to ease the restrictions where the situation is normal.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“We have urged the government to impose or lift the restriction considering the situation and the extent of infection in any particular area,” said Dr Dixit, adding that majority of health experts recommended the government to increase the number of tests.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“Lockdown is the best measure to curb the spread of infection,” he added.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Another health expert Dr Rabindra Pandey suggested the government to control the flow of people from infected areas. He also urged the government to ensure that precautionary measures and health standards are met at the formal sector and physical distance maintained at workplace.</span></span></span></span></p> <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 Dr Pandey, the prime minister has pledged to discuss the suggestions of the experts at the Covid-19 Crisis Management Centre (CCMC) meeting and the cabinet and then take action accordingly.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-05', 'modified' => '2020-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '12021', 'image' => '20200805095116_1596581375.PS_Ktmjpg2.jpg', 'article_date' => '2020-08-05 09:50:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '12274', 'article_category_id' => '1', 'title' => 'DoTM Suspends Distributing Driving License ', 'sub_title' => '', 'summary' => 'August 5: The Department of Transportation Management (DoTM) has suspended distribution of driving license from all four offices within the Kathmandu Valley. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">August 5: The Department of Transportation Management (DoTM) has suspended distribution of driving license from all four offices within the Kathmandu Valley. </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:"Nirmala UI","sans-serif"">DoTM has cited overcrowding for putting on hold the distribution of driving licenses.</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:"Nirmala UI","sans-serif"">The department said it was not able to manage the crowd despite government’s directive to maintain physical distance among the service seekers.</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:"Nirmala UI","sans-serif"">DoTM had started issuing license since mid-June after the government eased the lockdown restriction.</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:"Nirmala UI","sans-serif""> An official at the DoTM said that they decided to suspend all activities until the Covid-19 situation improves in the capital. According to the official, such measure was taken due to rise in number of coronavirus cases in Kathmandu Valley after the government lifted the lockdown two weeks ago.</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:"Nirmala UI","sans-serif"">With this decision, DoTM offices at Jagati, Ekantakuna, Sukedhara and Thulobharyanag have suspended their services until further notice. </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:"Nirmala UI","sans-serif"">DoTM has also suspended renewal of license. The department has not taken any tests after the government imposed lockdown on March 24.</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:"Nirmala UI","sans-serif"">The department has urged drivers to show the receipt from the office instead of license for the time being.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-08-05', 'modified' => '2020-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '12020', 'image' => '20200805102819_Smart-Driving-License.jpg', 'article_date' => '2020-08-05 10:26:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '12271', 'article_category_id' => '1', 'title' => 'NOC Gives Permission for Fuel Transport taking Advantage of Lockdown', 'sub_title' => '', 'summary' => 'August 4: Nepal Oil Corporation has given permission to 23 tankers to transport aviation fuel by ignoring its own bylaws. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">August 4: Nepal Oil Corporation has given permission to 23 tankers to transport aviation fuel by ignoring its own bylaws. It has been learnt that NOC secretly issued permission for the transportation of fuel from Raxaul to Sinamangal by violating the provision of the Petroleum Transportation Regulation 2073. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">With the approval, the state-owned oil monopoly has violated its bylaws. Some entrepreneurs have approached the Commission for the Investigation of Abuse of Authority (CIAA) against this decision. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">There is a provision in clause 3 of the bylaw that the corporation has to publish a 30-day notice in a national daily regarding an invitation for bid to acquire service from interested individual or company. Last June, the corporation gave permission to the same tankers that were earlier denied permission for not completing the due process. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">In 2017, the corporation had given permission to 32 tankers for fuel transport without any notice. However, the corporation itself revoked the permission after Nepal Petroleum Transport Entrepreneurs warned about agitation. The entrepreneurs had approached CIAA at that time as well. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">The entrepreneurs say that the tankers were given permission taking the advantage of lockdown. The corporation has again given the permit without issuing any public notice. A complaint has been filed at the CIAA alleging that the high level officials of the corporation have given approval by taking bribe. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Spokesperson of NOC, Binit Mani Upadhayay said that the temporary permission was given by the Board of Directors. He claimed that the right of way out is in the hands of BOD if there is any difficulty in making and implementing the laws. “The BOD has the right to eliminate obstacles in the formulation and implementation of the bylaws. The approval has been given as per the decision of the board,” he told New Business Age. </span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-08-04', 'modified' => '2020-08-04', 'keywords' => '', 'description' => '', 'sortorder' => '12019', 'image' => '20200804040802_1596492171.Clipboard01.jpg', 'article_date' => '2020-08-04 16:07:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '12272', 'article_category_id' => '1', 'title' => 'Price of Gold Reaches Rs 99,800 per Tola', 'sub_title' => '', 'summary' => 'August 4: The price of gold has reached Rs 99,800 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 4: The price of gold has reached Rs 99,800 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"">Although the price of gold remained stable on Monday, it increased by Rs 300 per 11 grams to reach an all-time high of Rs 99,800.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Federation of Nepalese Gold and Silver Dealers Association on Tuesday (August 4) confirmed the increase in price of gold. According to the federation, fine gold is being traded for Rs 99,800 in the Nepalese 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"">Meanwhile, silver is being traded for Rs 1230 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"">Gold dealers said 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> ', 'published' => true, 'created' => '2020-08-04', 'modified' => '2020-08-04', 'keywords' => '', 'description' => '', 'sortorder' => '12018', 'image' => '20200804052953_gold.jpg', 'article_date' => '2020-08-04 17:29:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '12270', 'article_category_id' => '1', 'title' => 'Banks Struggle to Lend Despite Adequate Capital', 'sub_title' => '', 'summary' => 'August 4: It has been two weeks since the government lifted lockdown, but the flow of loan from banks has not seen any significant improvement. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">August 4: It has been two weeks since the government lifted lockdown, but the flow of loan from banks has not seen any significant improvement. Although the banks have lowered the rate of interest, very few customers have visited the banks seeking new loans.</span></span></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 Unicode MS"">Commercial banks had availed loan of Rs 86 billion between mid-June to mid-July. But they have been able to lend only Rs 36.95 billion as of July end during the last 15 days of the month. </span></span></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 Unicode MS"">All 27 commercial banks of the country are yet to recover a total loan of Rs 2903 billion as of mid-July 2020. The outstanding loan has dropped to Rs 2866.05 billion as of July end.</span></span></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 Unicode MS"">Although the flow of loan from banks has dropped significantly, there has been an increase in deposits of late. During mid-June to mid-July, commercial banks collected deposits worth Rs 129 billion. The collection of deposits dropped to Rs 490 million in the last 15 days of July. </span></span></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 Unicode MS"">The total deposits of all the commercial banks was Rs 3219 billion as of mid-May 2020, which increased to Rs 3294 billion within a month.</span></span></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 Unicode MS"">Of late, banks have been lowering the rate of interest to attract more customers. Since mid-June, banks have been charging interest in single digit after lowering the rate of interest by 2 percentage points. They have also announced a scheme to provide relief to the Covid-19 affected individuals and institutions. Despite such steps, there hasn’t been any encouraging development in flow of loans.</span></span></span></span></p> ', 'published' => true, 'created' => '2020-08-04', 'modified' => '2020-08-04', 'keywords' => '', 'description' => '', 'sortorder' => '12017', 'image' => '20200804031329_1596492776.Clipboard03.jpg', 'article_date' => '2020-08-04 15:12:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '12268', 'article_category_id' => '1', 'title' => '12 Companies Express Interest to Resume Air Service', 'sub_title' => '', 'summary' => 'August 4: International and domestic airline companies have started gearing up to resume their service after the government decided to lift the ban of air service from August 17. ', '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 4: International and domestic airline companies have started gearing up to resume their service after the government decided to lift the ban of air service from August 17. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">As of Monday (August 3), 12 airline companies including two from Nepal have presented their proposals to the Civil Aviation Authority of Nepal (CAAN) for international flights. Similarly, all domestic airline companies have also presented their proposals to the aviation regulatory body of Nepal to resume their business.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Commercial flights have been halted since the last five months due to coronavirus pandemic. The government has allowed only emergency flights for rescue operations and medical cargo since imposing lockdown on March 24. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Nepal Airlines Corporation – the flag carrier of Nepal - and Himalaya Airlines have showed their interest to resume international flights after the government lifts the restriction from August 17. Other companies willing to restart commercial flights include Indigo Air of India, Air China and China Southern of China, Salam Air of Oman, Jazeera Air of Kuwait, Fly Dubai of the UAE, Malaysian Airlines and Malindo Air of Malaysia, Air Arabia of Saudi Arabia, and Turkish Airlines.</span></span></span></span></p> <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 CAAN, these companies have proposed holding 158 flights per week.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“This figure is expected to rise,” said the source.</span></span></span></span></p> <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 state-owned NAC has proposed conducting 57 flights per week while Turkish Airlines, Air China and China Southern have proposed organising only 1 flight each.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">CAAN informed New Business Age that it is yet to decide how much flights will the interested airlines companies will be allowed to conduct. Informed sources said that CAAN is preparing to allow only 25 to 30 percent of flights compared to the pre-lockdown period.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The airline operators must adhere to the protocols set by the World Health Organisation and the ICA0. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“We are yet to decide on the frequency of flights and the destinations due to a surge in number of coronavirus cases again,” said CAAN Spokesperson Raj Kumar Chhetri.</span></span></span></span></p> ', 'published' => true, 'created' => '2020-08-04', 'modified' => '2020-08-04', 'keywords' => '', 'description' => '', 'sortorder' => '12016', 'image' => '20200804122127_1596492326.1.jpg', 'article_date' => '2020-08-04 12:20:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '12269', 'article_category_id' => '1', 'title' => 'Sushil Bhatta Appointed CEO of Investment Board', 'sub_title' => '', 'summary' => 'August 4: The government has appointed engineer Sushil Bhatta as the CEO of Investment Board Nepal.', 'content' => '<p><img alt="" src="/app/webroot/userfiles/images/Clipboard10%2810%29%281%29.jpg" style="height:284px; width:300px" /></p> <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 4: The government has appointed engineer Sushil Bhatta as the CEO of Investment Board Nepal. A meeting of the Council of Ministers on Monday (August 3) decided to appoint Bhatta, who is a member of the National Planning Commission, as CEO of the board,</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The post of CEO at the board was lying vacant after the then CEO Maha Prasad Adhikari was appointed as governor of Nepal Rastra Bank. Besides Bhatta, the names of former member of the Electricity Regulatory Commission Ram Krishna Khatiwada and CEO of Province 1 Investment Authority were also recommended for the post of IBN’s CEO. </span></span></span></span></p> <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 three-member committee headed by Finance Minister Yuba Raj Khatiwada was formed to recommend the names for the post of IBN’s CEO. Out of 12 individuals who had filed application to lead the board, the government had shortlisted the applicants after a study conducted by NRB Governor Adhikari.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">CEO of National Reconstruction Authority Sushil Gyawali, former secretary Laxmi Bilas Koirala, former CEO of Nepal Tourism Board Deepak Raj Joshi, former administrator at Citizens Investment Trust Krishna Acharya, former executive director of Special Economic Zones Chandika Bhatta, IBN’s consultant Ashish Gajurel , former CEO of Machhapuchhre Bank Suman Sharma and associate professor at TU Ramesh Chandra Poudel were the other aspirants.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Bhatta has more than 15 years of experience in project management and infrastructure development.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-04', 'modified' => '2020-08-04', 'keywords' => '', 'description' => '', 'sortorder' => '12015', 'image' => '20200804124452_20200604020901_IBN.jpg', 'article_date' => '2020-08-04 12:43:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '12267', 'article_category_id' => '1', 'title' => 'Life Insurance Companies in Brisk Business Toward End of FY', 'sub_title' => '', 'summary' => 'August 2: Life insurance companies recorded significant increase in their business during the last fiscal year amid threat of coronavirus pandemic.', '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 2: Life insurance companies recorded significant increase in their business during the last fiscal year amid threat of coronavirus pandemic.</span></span></span></span></p> <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 collection of insurance premium had initially declined for three months after the government imposed lockdown on March 24. However, toward the end of the last fiscal year, collection of insurance premium saw a remarkable increase, according to preliminary report of the Insurance Board Nepal.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The collection of insurance premium between mid-March to mid-May was around Rs 2 billion per month. It rose to Rs 4.74 billion between mid-May to mid-June. The collection of insurance premium skyrocketed to Rs 24.55 billion in mid-June to mid-July, according to IBN.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Insurance companies say that their business gained momentum after the government lifted the lockdown. Their business was back on track toward the end of the last fiscal year.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">According to the data prepared by IBN, collection of insurance premium of life insurance companies during the last fiscal year 2019/20 was Rs 94.38 billion, which is 34 percent more than the amount in the previous fiscal year 2018/19. In FY 2018/19, collection of insurance premium was Rs 70 billion. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Stakeholders were expecting an increase in collection of insurance premium by only 15 percent.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-02', 'modified' => '2020-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '12014', 'image' => '20200802063220_1596318212.Clipboard08.jpg', 'article_date' => '2020-08-02 18:31:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '12266', 'article_category_id' => '1', 'title' => 'Birgunj Customs Office Tops Import and Export of Goods', 'sub_title' => '', 'summary' => 'August 2: Birgunj Customs Office has once again maintained its reputation as the main customs point of the country with maximum export during the last fiscal year.', '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 2: Birgunj Customs Office has once again maintained its reputation as the main customs point of the country with maximum export during the last fiscal year.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">In FY 2019/20, export from this customs point was 32 percent of the total export of 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"">Birgunj Customs Office informed that goods worth Rs 32.27 billion were exported from this customs point during the review period. The export from this point was worth Rs 24.53 billion in the previous year.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The total export of Nepal during the last fiscal year was Rs 97.70 billion.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Information Officer at the customs office, Bimal Sah, told New Business Age that the major export product from this customs point during the review period was refined palm oil. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“During the last fiscal year, 107,535 metric tons of refined palm oil worth Rs 11.72 billion was exported from here,” said Sah.</span></span></span></span></p> <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 export of palm oil during last fiscal year was almost double the amount of the previous year. In Fiscal Year 2018/19, a total of 57,576 metric tons of refined palm oil was exported from the same customs point. Altogether 14 oil refinery industries had been exporting palm oil from Birgunj. However, the export of palm oil has come to a halt since the last three months due to a ban imposed by India.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Other products exported from here is significant quantity includes juice, jam, soybean oil, synthetic yarn, sports shoes, toothpaste among others.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The Department of Customs informed that Birgunj Customs Office is responsible for overall 33 percent of export from the country. Biratnagar comes second at 29 percent followed by Tribhuvan International Airport (20 percent).</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Birgunj is also ahead of other customs points in import. Out of imports worth Rs 1196.79 billion, Birgunj Customs Points is alone responsible for import of Rs 413.39 billion, which is 34 percent of the total import. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-02', 'modified' => '2020-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '12013', 'image' => '20200802054428_1596317997.Clipboard04.jpg', 'article_date' => '2020-08-02 17:43:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '12265', 'article_category_id' => '1', 'title' => 'Public Transportation not following Criteria of Vehicle Operation ', 'sub_title' => '', 'summary' => 'August 2: Transport entrepreneurs have not been following the criteria set by the government for operating the public vehicles within the districts after the government lifted an ban on vehicular movement which was in effect during the four months long lockdown. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">August 2: Transport entrepreneurs have not been following the criteria set by the government for operating the public vehicles within the districts after the government lifted an ban on vehicular movement which was in effect during the four months long lockdown. In mid-July, the government of Nepal decided to allow operation of public vehicles by adopting safety measures and carrying passengers up to half the seat capacity. The government had also agreed to let the transport entrepreneurs charge up to 50% more fare than usual. However, the public vehicles are found carrying more passengers than that allowed by the government disregarding the increasing number of coronavirus infection. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Ramesh Dhakal of Koteshwor shares his experience that the vehicle keeps stopping to let passengers in the bus even after more than half of the seat capacity is already occupied. “Although they fill only half the seat capacity when they cannot find many passengers, they keep as many passengers as possible when they can ,” he says. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Hemant Acharya of Kirtipur also shares the same experience like that of Dhakal. He says although there are only half passengers in the microbus up to Balkhu, they let in passengers to the full capacity in areas where there aren’t any traffic police check posts. “They charge double fare but do not maintain physical distancing measures. The helpers do not wear mask as well,” he says. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">The transport entrepreneurs and government had recently reached an agreement to operate vehicles. As per the agreement, it is mandatory for the drivers/helpers to wear mask, gloves and keep a sanitizer in the vehicle. However, many vehicles do not have sanitizer in the vehicle and helpers do not wear mask and gloves, says Ram Thapa, a transport activist. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">“I have travelled in some public vehicles myself. Some have followed the safety measures while some have neglected them. In such cases, they can be a means of spreading the infection,” he says. He also alleges the Department of Transport Management and traffic police for not monitoring it the vehicles. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">The Metropolitan Traffic Police Division says that they have taken action against more than 50 vehicles carrying more passenger than half the seat capacity. Chief of the Division, SSP Bhim Prasad Dhakal said, "We are monitoring the situation by stopping vehicles at various places and warning those vehicles which have not adopted safety measures.” </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-02', 'modified' => '2020-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '12012', 'image' => '20200802014320_1596319054.Clipboard06.jpg', 'article_date' => '2020-08-02 13:42:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '12264', 'article_category_id' => '1', 'title' => '700 Applications for Seed Capital of Start-up Business', 'sub_title' => '', 'summary' => 'Aug 2: Around 700 persons have filed application for the seed capital announced by the government for start-up business.', '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"">Aug 2: Around 700 persons have filed application for the seed capital announced by the government for start-up business.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Initially, the government had said it would provide the capital as grant but later decided to provide it as concessional loan. </span></span></span></span></p> <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 National Planning Commission (NPC) has issued a notice in early May seeking application for the government support.</span></span></span></span></p> <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 NPC, start-up businesses in the fields of information technology, agriculture, health, tourism, education and industry have filed the application.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">NPC informed that the applicants will receive 50 percent amount needed for establishing the start-up business as concessional loan from the government. The rate of interest for such loan has been fixed at 2 percent per annum.</span></span></span></span></p> <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 applicant has to clearly mention in the proposal the status of self investment, the amount it seeks from the government and its investment partners. </span></span></span></span></p> <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 applicant must also mention the permanent account number (PAN) of the individual or the organisation seeking government support.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Officials at the NPC expect more applications as the deadline for submission has been extended due to the lockdown. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The government had envisioned a Challenge Fund to promote start-up businesses during the budget of last fiscal year. Later, a committee headed by NPC member decided to convert the fund into Start-up Business Seed Capital Grant. The government recently decided to provide the amount as concessional loan instead of grant because of the fragile economy caused by coronavirus pandemic.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-02', 'modified' => '2020-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '12011', 'image' => '20200802121212_1596318983.Clipboard15.jpg', 'article_date' => '2020-08-02 12:11:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '12263', 'article_category_id' => '1', 'title' => 'NOC Hikes Price of Petroleum Products ', 'sub_title' => '', 'summary' => 'August 2: Nepal Oil Corporation has increased the price of petroleum products effective from Saturday midnight (August 1). ', '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 2: Nepal Oil Corporation has increased the price of petroleum products effective from Saturday midnight (August 1). </span></span></span></span></p> <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 state-owned oil monopoly, it has increased the price of diesel, petrol and kerosene by Rs 2 per litre each. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">With the new price adjustment, kerosene and diesel will now cost Rs 90 per litre while petrol will cost Rs 104 per litre. Meanwhile, NOC has not changed the price of cooking gas and aviation turbine fuel.</span></span></span></span></p> <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 a statement issued by NOC, it decided to adjust the prices of petroleum products as per the revised list provided by the Indian Oil Corporation. NOC clarified that the price was hiked in accordance to the automatic pricing mechanism adopted by the state-owned oil company.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">NOC stated that the price of petrol has increased in the international market and therefore the price was adjusted in Nepal accordingly.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">NOC had earlier reviewed the price of petroleum products on July 10.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-02', 'modified' => '2020-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '12010', 'image' => '20200802105911_petrolpump.jpg', 'article_date' => '2020-08-02 10:58:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '12262', 'article_category_id' => '1', 'title' => 'Central Bank Issues Reverse Repo Again ', 'sub_title' => '', 'summary' => 'July 31: Nepal Rastra Bank (NRB) has been repeatedly mopping excess liquidity from banks and financial institutions (BFIs) since the last three months.', '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"">July 31: Nepal Rastra Bank (NRB) has been repeatedly mopping excess liquidity from banks and financial institutions (BFIs) since the last three months.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">In this regard, NRB on Thursday (July 30) issued reverse repo of Rs 20 billion with maturity period of one week. The reverse repo will mature on 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 central bank had also issued reverse repo of the same amount recently on July 23.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Of late, BFIs have reported more deposits while the flow of loan has not been proportionate, thereby causing excess liquidity. According to NRB, banks have excess liquidity of Rs 200 billion at present.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-07-31', 'modified' => '2020-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '12009', 'image' => '20200731035410_nrb.jpg', 'article_date' => '2020-07-31 15:53:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '12260', 'article_category_id' => '1', 'title' => 'Small Hotels Resume Operation, Big Ones in ‘Wait and Watch’ Situation', 'sub_title' => '', 'summary' => 'July 31: Small hotels and restaurants have opened from Thursday (July 30) after the government lifted a ban on hospitality industry after ending the months-long lockdown recently.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">July 31: Small hotels and restaurants have opened from Thursday (July 30) after the government lifted a ban on hospitality industry after ending the months-long lockdown recently.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">According to the Hotel Association of Nepal (HAN) hotels ranging from one star to three stars have resumed their service in Kathmandu Valley, Pokhara, Chitwan and other major tourist destinations across the country.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Besides hotels, trekking and mountaineering companies as well as tour and travel agencies have also started their business after four months of closure. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">However, very few big hotels have resumed their business so far. Although five-star hotels like Soaltee Crowne Plaza, Kathmandu Aloft and Marriot Hotel have reopened, other five-star hotels are yet to resume their service. It is said that the big hotels are not in a mood to resume full-fledged service anticipating lack of customers during the current 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">These hotels are making preparations to restart their business but are waiting for international flights to resume first. The government has decided to allow domestic and international flights from August 17.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Hotel entrepreneurs say that they are not in a hurry to reopen their hotels due to lack of internal and foreign tourists as the government is yet to lift the ban on air service. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">“Although there is no booking at the moment, we have given the message that the hotel industry has resumed service in Nepal,” said General Secretary of HAN Sajan Shakya, adding, “The government will allow operation of air service from August 17 so we are in a wait and watch situation.”</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Although the government has allowed hotel industry to resume their business, hotel entrepreneurs complain that the health protocols issued by the government is not clear. There is confusion regarding unclear policy on arrival of foreign tourists. The government has not stated clearly whether foreign tourists will have to stay in quarantine for 14 days or not and if PCR test alone is enough to let them in, said Shakya.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">HAN estimates a sharp decline in arrival of tourists this season. During last year, around 250,000 tourists had visited Nepal during this time. However, stakeholders believe it will take at least three to four years before the situation normalizes.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-07-31', 'modified' => '2020-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '12008', 'image' => '20200731031908_1596059366.Clipboard07.jpg', 'article_date' => '2020-07-31 15:18:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '12275', 'article_category_id' => '1', 'title' => 'Dismal Progress of Road Projects in Last FY', 'sub_title' => '', 'summary' => 'August 5: Work progress of P1 projects, which fall under the first priority of the Department of Roads (DoR), remained dismal in the last fiscal year. ', '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: Work progress of P1 projects, which fall under the first priority of the Department of Roads (DoR), remained dismal in the last fiscal year. Out of 42 P1 projects under the department, only 6 achieved more than 80 percent work progress during fiscal year 2019/20.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">According to the department, 19 such projects have achieved work progress of 50 to 80 percent while the progress of 17 projects is less than 50 percent. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Similarly, the national pride projects have also failed to impress if the work progress in taken into consideration.</span></span></span></span></p> <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 DoR has failed to achieve its target set for national pride projects and other priority projects. The department has blamed coronavirus pandemic and the subsequent lockdown as well as half a dozen other reasons for the failure to meet its target.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The government had allocated Rs 127 billion to the department. However, it was able to spend only Rs 69.48 billion, which is 67.29 percent of the total budget.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">In the past, the department used to spend over 80 percent of the allocated budget.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Spokesperson at the department Shiva Hari Sapkota told New Business Age that they could not meet their target due to the coronavirus pandemic.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">In the past one year, the department was able to blacktop 729 kilometers of road in the national road network. The department had set a target of blacktopping 1200 kilometers of road during the last fiscal year but was able to achieve only 60.75 percent of the target.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Bureaucratic red tape and other hurdles in release of foreign grant and assistance is another major reason for the delay in work completion. Other factors include delay in approval of Environment Impact Assessment, compensation distribution and land acquisition, obstruction by locals demanding more compensation, human resource management for projects handed over to the provincial governments among others.</span></span></span></span></p> ', 'published' => true, 'created' => '2020-08-05', 'modified' => '2020-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '12022', 'image' => '20200805115301_1596580326.Clipboard13a.jpg', 'article_date' => '2020-08-05 11:52:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '12273', 'article_category_id' => '1', 'title' => 'Health Experts Urge Government to Impose Lockdown and Curfew if Required', 'sub_title' => '', 'summary' => 'August 5: Health experts have suggested the government to take the issue of coronavirus seriously as the infection has been spreading rapidly after the government lifted the lockdown.', '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: Health experts have suggested the government to take the issue of coronavirus seriously as the infection has been spreading rapidly after the government lifted the lockdown.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The experts warned the government during a meeting with stakeholders at the Prime Minister’s Official Residence in Baluwatar Tuesday (August 4) that the pandemic is likely to inflict heavy losses if adequate measures are not taken promptly. They urged the government to impose strict measures in places with high rate of infection.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">They recommended the government to either adopt strict measures in high-risk areas or to impose lockdown for another two weeks to stem the spread of the deadly disease. They suggested the government to impose curfew if necessary and seal the affected areas completely. They also urged the government not to allow entry of any foreign nationals into 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"">The government had lifted the four-month long lockdown imposed on March 24 about two weeks ago. Cases of coronavirus have been increasing rapidly after the government lifted the lockdown. Stating that the coronavirus pandemic would take a dangerous form if the current situation persists, the health experts urged the government to take strict and effective measures to curb the disease. </span></span></span></span></p> <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 experts concluded that the public has not been adopting necessary precautionary measures while the government’s decision to downplay the seriousness of the issue has further heightened the risk of disease transmission.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Public health expert Dr Sameer Mani Dixit informed that they suggested the government to adopt strict measures in areas with high rate of infection and to ease the restrictions where the situation is normal.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“We have urged the government to impose or lift the restriction considering the situation and the extent of infection in any particular area,” said Dr Dixit, adding that majority of health experts recommended the government to increase the number of tests.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“Lockdown is the best measure to curb the spread of infection,” he added.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Another health expert Dr Rabindra Pandey suggested the government to control the flow of people from infected areas. He also urged the government to ensure that precautionary measures and health standards are met at the formal sector and physical distance maintained at workplace.</span></span></span></span></p> <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 Dr Pandey, the prime minister has pledged to discuss the suggestions of the experts at the Covid-19 Crisis Management Centre (CCMC) meeting and the cabinet and then take action accordingly.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-05', 'modified' => '2020-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '12021', 'image' => '20200805095116_1596581375.PS_Ktmjpg2.jpg', 'article_date' => '2020-08-05 09:50:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '12274', 'article_category_id' => '1', 'title' => 'DoTM Suspends Distributing Driving License ', 'sub_title' => '', 'summary' => 'August 5: The Department of Transportation Management (DoTM) has suspended distribution of driving license from all four offices within the Kathmandu Valley. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">August 5: The Department of Transportation Management (DoTM) has suspended distribution of driving license from all four offices within the Kathmandu Valley. </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:"Nirmala UI","sans-serif"">DoTM has cited overcrowding for putting on hold the distribution of driving licenses.</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:"Nirmala UI","sans-serif"">The department said it was not able to manage the crowd despite government’s directive to maintain physical distance among the service seekers.</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:"Nirmala UI","sans-serif"">DoTM had started issuing license since mid-June after the government eased the lockdown restriction.</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:"Nirmala UI","sans-serif""> An official at the DoTM said that they decided to suspend all activities until the Covid-19 situation improves in the capital. According to the official, such measure was taken due to rise in number of coronavirus cases in Kathmandu Valley after the government lifted the lockdown two weeks ago.</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:"Nirmala UI","sans-serif"">With this decision, DoTM offices at Jagati, Ekantakuna, Sukedhara and Thulobharyanag have suspended their services until further notice. </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:"Nirmala UI","sans-serif"">DoTM has also suspended renewal of license. The department has not taken any tests after the government imposed lockdown on March 24.</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:"Nirmala UI","sans-serif"">The department has urged drivers to show the receipt from the office instead of license for the time being.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-08-05', 'modified' => '2020-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '12020', 'image' => '20200805102819_Smart-Driving-License.jpg', 'article_date' => '2020-08-05 10:26:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '12271', 'article_category_id' => '1', 'title' => 'NOC Gives Permission for Fuel Transport taking Advantage of Lockdown', 'sub_title' => '', 'summary' => 'August 4: Nepal Oil Corporation has given permission to 23 tankers to transport aviation fuel by ignoring its own bylaws. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">August 4: Nepal Oil Corporation has given permission to 23 tankers to transport aviation fuel by ignoring its own bylaws. It has been learnt that NOC secretly issued permission for the transportation of fuel from Raxaul to Sinamangal by violating the provision of the Petroleum Transportation Regulation 2073. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">With the approval, the state-owned oil monopoly has violated its bylaws. Some entrepreneurs have approached the Commission for the Investigation of Abuse of Authority (CIAA) against this decision. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">There is a provision in clause 3 of the bylaw that the corporation has to publish a 30-day notice in a national daily regarding an invitation for bid to acquire service from interested individual or company. Last June, the corporation gave permission to the same tankers that were earlier denied permission for not completing the due process. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">In 2017, the corporation had given permission to 32 tankers for fuel transport without any notice. However, the corporation itself revoked the permission after Nepal Petroleum Transport Entrepreneurs warned about agitation. The entrepreneurs had approached CIAA at that time as well. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">The entrepreneurs say that the tankers were given permission taking the advantage of lockdown. The corporation has again given the permit without issuing any public notice. A complaint has been filed at the CIAA alleging that the high level officials of the corporation have given approval by taking bribe. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Spokesperson of NOC, Binit Mani Upadhayay said that the temporary permission was given by the Board of Directors. He claimed that the right of way out is in the hands of BOD if there is any difficulty in making and implementing the laws. “The BOD has the right to eliminate obstacles in the formulation and implementation of the bylaws. The approval has been given as per the decision of the board,” he told New Business Age. </span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-08-04', 'modified' => '2020-08-04', 'keywords' => '', 'description' => '', 'sortorder' => '12019', 'image' => '20200804040802_1596492171.Clipboard01.jpg', 'article_date' => '2020-08-04 16:07:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '12272', 'article_category_id' => '1', 'title' => 'Price of Gold Reaches Rs 99,800 per Tola', 'sub_title' => '', 'summary' => 'August 4: The price of gold has reached Rs 99,800 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 4: The price of gold has reached Rs 99,800 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"">Although the price of gold remained stable on Monday, it increased by Rs 300 per 11 grams to reach an all-time high of Rs 99,800.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Federation of Nepalese Gold and Silver Dealers Association on Tuesday (August 4) confirmed the increase in price of gold. According to the federation, fine gold is being traded for Rs 99,800 in the Nepalese 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"">Meanwhile, silver is being traded for Rs 1230 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"">Gold dealers said 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> ', 'published' => true, 'created' => '2020-08-04', 'modified' => '2020-08-04', 'keywords' => '', 'description' => '', 'sortorder' => '12018', 'image' => '20200804052953_gold.jpg', 'article_date' => '2020-08-04 17:29:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '12270', 'article_category_id' => '1', 'title' => 'Banks Struggle to Lend Despite Adequate Capital', 'sub_title' => '', 'summary' => 'August 4: It has been two weeks since the government lifted lockdown, but the flow of loan from banks has not seen any significant improvement. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">August 4: It has been two weeks since the government lifted lockdown, but the flow of loan from banks has not seen any significant improvement. Although the banks have lowered the rate of interest, very few customers have visited the banks seeking new loans.</span></span></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 Unicode MS"">Commercial banks had availed loan of Rs 86 billion between mid-June to mid-July. But they have been able to lend only Rs 36.95 billion as of July end during the last 15 days of the month. </span></span></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 Unicode MS"">All 27 commercial banks of the country are yet to recover a total loan of Rs 2903 billion as of mid-July 2020. The outstanding loan has dropped to Rs 2866.05 billion as of July end.</span></span></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 Unicode MS"">Although the flow of loan from banks has dropped significantly, there has been an increase in deposits of late. During mid-June to mid-July, commercial banks collected deposits worth Rs 129 billion. The collection of deposits dropped to Rs 490 million in the last 15 days of July. </span></span></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 Unicode MS"">The total deposits of all the commercial banks was Rs 3219 billion as of mid-May 2020, which increased to Rs 3294 billion within a month.</span></span></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 Unicode MS"">Of late, banks have been lowering the rate of interest to attract more customers. Since mid-June, banks have been charging interest in single digit after lowering the rate of interest by 2 percentage points. They have also announced a scheme to provide relief to the Covid-19 affected individuals and institutions. Despite such steps, there hasn’t been any encouraging development in flow of loans.</span></span></span></span></p> ', 'published' => true, 'created' => '2020-08-04', 'modified' => '2020-08-04', 'keywords' => '', 'description' => '', 'sortorder' => '12017', 'image' => '20200804031329_1596492776.Clipboard03.jpg', 'article_date' => '2020-08-04 15:12:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '12268', 'article_category_id' => '1', 'title' => '12 Companies Express Interest to Resume Air Service', 'sub_title' => '', 'summary' => 'August 4: International and domestic airline companies have started gearing up to resume their service after the government decided to lift the ban of air service from August 17. ', '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 4: International and domestic airline companies have started gearing up to resume their service after the government decided to lift the ban of air service from August 17. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">As of Monday (August 3), 12 airline companies including two from Nepal have presented their proposals to the Civil Aviation Authority of Nepal (CAAN) for international flights. Similarly, all domestic airline companies have also presented their proposals to the aviation regulatory body of Nepal to resume their business.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Commercial flights have been halted since the last five months due to coronavirus pandemic. The government has allowed only emergency flights for rescue operations and medical cargo since imposing lockdown on March 24. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Nepal Airlines Corporation – the flag carrier of Nepal - and Himalaya Airlines have showed their interest to resume international flights after the government lifts the restriction from August 17. Other companies willing to restart commercial flights include Indigo Air of India, Air China and China Southern of China, Salam Air of Oman, Jazeera Air of Kuwait, Fly Dubai of the UAE, Malaysian Airlines and Malindo Air of Malaysia, Air Arabia of Saudi Arabia, and Turkish Airlines.</span></span></span></span></p> <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 CAAN, these companies have proposed holding 158 flights per week.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“This figure is expected to rise,” said the source.</span></span></span></span></p> <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 state-owned NAC has proposed conducting 57 flights per week while Turkish Airlines, Air China and China Southern have proposed organising only 1 flight each.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">CAAN informed New Business Age that it is yet to decide how much flights will the interested airlines companies will be allowed to conduct. Informed sources said that CAAN is preparing to allow only 25 to 30 percent of flights compared to the pre-lockdown period.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The airline operators must adhere to the protocols set by the World Health Organisation and the ICA0. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“We are yet to decide on the frequency of flights and the destinations due to a surge in number of coronavirus cases again,” said CAAN Spokesperson Raj Kumar Chhetri.</span></span></span></span></p> ', 'published' => true, 'created' => '2020-08-04', 'modified' => '2020-08-04', 'keywords' => '', 'description' => '', 'sortorder' => '12016', 'image' => '20200804122127_1596492326.1.jpg', 'article_date' => '2020-08-04 12:20:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '12269', 'article_category_id' => '1', 'title' => 'Sushil Bhatta Appointed CEO of Investment Board', 'sub_title' => '', 'summary' => 'August 4: The government has appointed engineer Sushil Bhatta as the CEO of Investment Board Nepal.', 'content' => '<p><img alt="" src="/app/webroot/userfiles/images/Clipboard10%2810%29%281%29.jpg" style="height:284px; width:300px" /></p> <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 4: The government has appointed engineer Sushil Bhatta as the CEO of Investment Board Nepal. A meeting of the Council of Ministers on Monday (August 3) decided to appoint Bhatta, who is a member of the National Planning Commission, as CEO of the board,</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The post of CEO at the board was lying vacant after the then CEO Maha Prasad Adhikari was appointed as governor of Nepal Rastra Bank. Besides Bhatta, the names of former member of the Electricity Regulatory Commission Ram Krishna Khatiwada and CEO of Province 1 Investment Authority were also recommended for the post of IBN’s CEO. </span></span></span></span></p> <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 three-member committee headed by Finance Minister Yuba Raj Khatiwada was formed to recommend the names for the post of IBN’s CEO. Out of 12 individuals who had filed application to lead the board, the government had shortlisted the applicants after a study conducted by NRB Governor Adhikari.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">CEO of National Reconstruction Authority Sushil Gyawali, former secretary Laxmi Bilas Koirala, former CEO of Nepal Tourism Board Deepak Raj Joshi, former administrator at Citizens Investment Trust Krishna Acharya, former executive director of Special Economic Zones Chandika Bhatta, IBN’s consultant Ashish Gajurel , former CEO of Machhapuchhre Bank Suman Sharma and associate professor at TU Ramesh Chandra Poudel were the other aspirants.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Bhatta has more than 15 years of experience in project management and infrastructure development.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-04', 'modified' => '2020-08-04', 'keywords' => '', 'description' => '', 'sortorder' => '12015', 'image' => '20200804124452_20200604020901_IBN.jpg', 'article_date' => '2020-08-04 12:43:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '12267', 'article_category_id' => '1', 'title' => 'Life Insurance Companies in Brisk Business Toward End of FY', 'sub_title' => '', 'summary' => 'August 2: Life insurance companies recorded significant increase in their business during the last fiscal year amid threat of coronavirus pandemic.', '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 2: Life insurance companies recorded significant increase in their business during the last fiscal year amid threat of coronavirus pandemic.</span></span></span></span></p> <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 collection of insurance premium had initially declined for three months after the government imposed lockdown on March 24. However, toward the end of the last fiscal year, collection of insurance premium saw a remarkable increase, according to preliminary report of the Insurance Board Nepal.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The collection of insurance premium between mid-March to mid-May was around Rs 2 billion per month. It rose to Rs 4.74 billion between mid-May to mid-June. The collection of insurance premium skyrocketed to Rs 24.55 billion in mid-June to mid-July, according to IBN.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Insurance companies say that their business gained momentum after the government lifted the lockdown. Their business was back on track toward the end of the last fiscal year.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">According to the data prepared by IBN, collection of insurance premium of life insurance companies during the last fiscal year 2019/20 was Rs 94.38 billion, which is 34 percent more than the amount in the previous fiscal year 2018/19. In FY 2018/19, collection of insurance premium was Rs 70 billion. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Stakeholders were expecting an increase in collection of insurance premium by only 15 percent.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-02', 'modified' => '2020-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '12014', 'image' => '20200802063220_1596318212.Clipboard08.jpg', 'article_date' => '2020-08-02 18:31:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '12266', 'article_category_id' => '1', 'title' => 'Birgunj Customs Office Tops Import and Export of Goods', 'sub_title' => '', 'summary' => 'August 2: Birgunj Customs Office has once again maintained its reputation as the main customs point of the country with maximum export during the last fiscal year.', '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 2: Birgunj Customs Office has once again maintained its reputation as the main customs point of the country with maximum export during the last fiscal year.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">In FY 2019/20, export from this customs point was 32 percent of the total export of 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"">Birgunj Customs Office informed that goods worth Rs 32.27 billion were exported from this customs point during the review period. The export from this point was worth Rs 24.53 billion in the previous year.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The total export of Nepal during the last fiscal year was Rs 97.70 billion.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Information Officer at the customs office, Bimal Sah, told New Business Age that the major export product from this customs point during the review period was refined palm oil. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“During the last fiscal year, 107,535 metric tons of refined palm oil worth Rs 11.72 billion was exported from here,” said Sah.</span></span></span></span></p> <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 export of palm oil during last fiscal year was almost double the amount of the previous year. In Fiscal Year 2018/19, a total of 57,576 metric tons of refined palm oil was exported from the same customs point. Altogether 14 oil refinery industries had been exporting palm oil from Birgunj. However, the export of palm oil has come to a halt since the last three months due to a ban imposed by India.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Other products exported from here is significant quantity includes juice, jam, soybean oil, synthetic yarn, sports shoes, toothpaste among others.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The Department of Customs informed that Birgunj Customs Office is responsible for overall 33 percent of export from the country. Biratnagar comes second at 29 percent followed by Tribhuvan International Airport (20 percent).</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Birgunj is also ahead of other customs points in import. Out of imports worth Rs 1196.79 billion, Birgunj Customs Points is alone responsible for import of Rs 413.39 billion, which is 34 percent of the total import. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-02', 'modified' => '2020-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '12013', 'image' => '20200802054428_1596317997.Clipboard04.jpg', 'article_date' => '2020-08-02 17:43:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '12265', 'article_category_id' => '1', 'title' => 'Public Transportation not following Criteria of Vehicle Operation ', 'sub_title' => '', 'summary' => 'August 2: Transport entrepreneurs have not been following the criteria set by the government for operating the public vehicles within the districts after the government lifted an ban on vehicular movement which was in effect during the four months long lockdown. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">August 2: Transport entrepreneurs have not been following the criteria set by the government for operating the public vehicles within the districts after the government lifted an ban on vehicular movement which was in effect during the four months long lockdown. In mid-July, the government of Nepal decided to allow operation of public vehicles by adopting safety measures and carrying passengers up to half the seat capacity. The government had also agreed to let the transport entrepreneurs charge up to 50% more fare than usual. However, the public vehicles are found carrying more passengers than that allowed by the government disregarding the increasing number of coronavirus infection. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Ramesh Dhakal of Koteshwor shares his experience that the vehicle keeps stopping to let passengers in the bus even after more than half of the seat capacity is already occupied. “Although they fill only half the seat capacity when they cannot find many passengers, they keep as many passengers as possible when they can ,” he says. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Hemant Acharya of Kirtipur also shares the same experience like that of Dhakal. He says although there are only half passengers in the microbus up to Balkhu, they let in passengers to the full capacity in areas where there aren’t any traffic police check posts. “They charge double fare but do not maintain physical distancing measures. The helpers do not wear mask as well,” he says. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">The transport entrepreneurs and government had recently reached an agreement to operate vehicles. As per the agreement, it is mandatory for the drivers/helpers to wear mask, gloves and keep a sanitizer in the vehicle. However, many vehicles do not have sanitizer in the vehicle and helpers do not wear mask and gloves, says Ram Thapa, a transport activist. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">“I have travelled in some public vehicles myself. Some have followed the safety measures while some have neglected them. In such cases, they can be a means of spreading the infection,” he says. He also alleges the Department of Transport Management and traffic police for not monitoring it the vehicles. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">The Metropolitan Traffic Police Division says that they have taken action against more than 50 vehicles carrying more passenger than half the seat capacity. Chief of the Division, SSP Bhim Prasad Dhakal said, "We are monitoring the situation by stopping vehicles at various places and warning those vehicles which have not adopted safety measures.” </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-02', 'modified' => '2020-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '12012', 'image' => '20200802014320_1596319054.Clipboard06.jpg', 'article_date' => '2020-08-02 13:42:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '12264', 'article_category_id' => '1', 'title' => '700 Applications for Seed Capital of Start-up Business', 'sub_title' => '', 'summary' => 'Aug 2: Around 700 persons have filed application for the seed capital announced by the government for start-up business.', '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"">Aug 2: Around 700 persons have filed application for the seed capital announced by the government for start-up business.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Initially, the government had said it would provide the capital as grant but later decided to provide it as concessional loan. </span></span></span></span></p> <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 National Planning Commission (NPC) has issued a notice in early May seeking application for the government support.</span></span></span></span></p> <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 NPC, start-up businesses in the fields of information technology, agriculture, health, tourism, education and industry have filed the application.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">NPC informed that the applicants will receive 50 percent amount needed for establishing the start-up business as concessional loan from the government. The rate of interest for such loan has been fixed at 2 percent per annum.</span></span></span></span></p> <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 applicant has to clearly mention in the proposal the status of self investment, the amount it seeks from the government and its investment partners. </span></span></span></span></p> <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 applicant must also mention the permanent account number (PAN) of the individual or the organisation seeking government support.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Officials at the NPC expect more applications as the deadline for submission has been extended due to the lockdown. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The government had envisioned a Challenge Fund to promote start-up businesses during the budget of last fiscal year. Later, a committee headed by NPC member decided to convert the fund into Start-up Business Seed Capital Grant. The government recently decided to provide the amount as concessional loan instead of grant because of the fragile economy caused by coronavirus pandemic.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-02', 'modified' => '2020-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '12011', 'image' => '20200802121212_1596318983.Clipboard15.jpg', 'article_date' => '2020-08-02 12:11:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '12263', 'article_category_id' => '1', 'title' => 'NOC Hikes Price of Petroleum Products ', 'sub_title' => '', 'summary' => 'August 2: Nepal Oil Corporation has increased the price of petroleum products effective from Saturday midnight (August 1). ', '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 2: Nepal Oil Corporation has increased the price of petroleum products effective from Saturday midnight (August 1). </span></span></span></span></p> <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 state-owned oil monopoly, it has increased the price of diesel, petrol and kerosene by Rs 2 per litre each. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">With the new price adjustment, kerosene and diesel will now cost Rs 90 per litre while petrol will cost Rs 104 per litre. Meanwhile, NOC has not changed the price of cooking gas and aviation turbine fuel.</span></span></span></span></p> <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 a statement issued by NOC, it decided to adjust the prices of petroleum products as per the revised list provided by the Indian Oil Corporation. NOC clarified that the price was hiked in accordance to the automatic pricing mechanism adopted by the state-owned oil company.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">NOC stated that the price of petrol has increased in the international market and therefore the price was adjusted in Nepal accordingly.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">NOC had earlier reviewed the price of petroleum products on July 10.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-02', 'modified' => '2020-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '12010', 'image' => '20200802105911_petrolpump.jpg', 'article_date' => '2020-08-02 10:58:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '12262', 'article_category_id' => '1', 'title' => 'Central Bank Issues Reverse Repo Again ', 'sub_title' => '', 'summary' => 'July 31: Nepal Rastra Bank (NRB) has been repeatedly mopping excess liquidity from banks and financial institutions (BFIs) since the last three months.', '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"">July 31: Nepal Rastra Bank (NRB) has been repeatedly mopping excess liquidity from banks and financial institutions (BFIs) since the last three months.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">In this regard, NRB on Thursday (July 30) issued reverse repo of Rs 20 billion with maturity period of one week. The reverse repo will mature on 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 central bank had also issued reverse repo of the same amount recently on July 23.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Of late, BFIs have reported more deposits while the flow of loan has not been proportionate, thereby causing excess liquidity. According to NRB, banks have excess liquidity of Rs 200 billion at present.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-07-31', 'modified' => '2020-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '12009', 'image' => '20200731035410_nrb.jpg', 'article_date' => '2020-07-31 15:53:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '12260', 'article_category_id' => '1', 'title' => 'Small Hotels Resume Operation, Big Ones in ‘Wait and Watch’ Situation', 'sub_title' => '', 'summary' => 'July 31: Small hotels and restaurants have opened from Thursday (July 30) after the government lifted a ban on hospitality industry after ending the months-long lockdown recently.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">July 31: Small hotels and restaurants have opened from Thursday (July 30) after the government lifted a ban on hospitality industry after ending the months-long lockdown recently.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">According to the Hotel Association of Nepal (HAN) hotels ranging from one star to three stars have resumed their service in Kathmandu Valley, Pokhara, Chitwan and other major tourist destinations across the country.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Besides hotels, trekking and mountaineering companies as well as tour and travel agencies have also started their business after four months of closure. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">However, very few big hotels have resumed their business so far. Although five-star hotels like Soaltee Crowne Plaza, Kathmandu Aloft and Marriot Hotel have reopened, other five-star hotels are yet to resume their service. It is said that the big hotels are not in a mood to resume full-fledged service anticipating lack of customers during the current 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">These hotels are making preparations to restart their business but are waiting for international flights to resume first. The government has decided to allow domestic and international flights from August 17.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Hotel entrepreneurs say that they are not in a hurry to reopen their hotels due to lack of internal and foreign tourists as the government is yet to lift the ban on air service. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">“Although there is no booking at the moment, we have given the message that the hotel industry has resumed service in Nepal,” said General Secretary of HAN Sajan Shakya, adding, “The government will allow operation of air service from August 17 so we are in a wait and watch situation.”</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Although the government has allowed hotel industry to resume their business, hotel entrepreneurs complain that the health protocols issued by the government is not clear. There is confusion regarding unclear policy on arrival of foreign tourists. The government has not stated clearly whether foreign tourists will have to stay in quarantine for 14 days or not and if PCR test alone is enough to let them in, said Shakya.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">HAN estimates a sharp decline in arrival of tourists this season. During last year, around 250,000 tourists had visited Nepal during this time. However, stakeholders believe it will take at least three to four years before the situation normalizes.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-07-31', 'modified' => '2020-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '12008', 'image' => '20200731031908_1596059366.Clipboard07.jpg', 'article_date' => '2020-07-31 15:18:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '12275', 'article_category_id' => '1', 'title' => 'Dismal Progress of Road Projects in Last FY', 'sub_title' => '', 'summary' => 'August 5: Work progress of P1 projects, which fall under the first priority of the Department of Roads (DoR), remained dismal in the last fiscal year. ', '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: Work progress of P1 projects, which fall under the first priority of the Department of Roads (DoR), remained dismal in the last fiscal year. Out of 42 P1 projects under the department, only 6 achieved more than 80 percent work progress during fiscal year 2019/20.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">According to the department, 19 such projects have achieved work progress of 50 to 80 percent while the progress of 17 projects is less than 50 percent. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Similarly, the national pride projects have also failed to impress if the work progress in taken into consideration.</span></span></span></span></p> <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 DoR has failed to achieve its target set for national pride projects and other priority projects. The department has blamed coronavirus pandemic and the subsequent lockdown as well as half a dozen other reasons for the failure to meet its target.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The government had allocated Rs 127 billion to the department. However, it was able to spend only Rs 69.48 billion, which is 67.29 percent of the total budget.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">In the past, the department used to spend over 80 percent of the allocated budget.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Spokesperson at the department Shiva Hari Sapkota told New Business Age that they could not meet their target due to the coronavirus pandemic.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">In the past one year, the department was able to blacktop 729 kilometers of road in the national road network. The department had set a target of blacktopping 1200 kilometers of road during the last fiscal year but was able to achieve only 60.75 percent of the target.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Bureaucratic red tape and other hurdles in release of foreign grant and assistance is another major reason for the delay in work completion. Other factors include delay in approval of Environment Impact Assessment, compensation distribution and land acquisition, obstruction by locals demanding more compensation, human resource management for projects handed over to the provincial governments among others.</span></span></span></span></p> ', 'published' => true, 'created' => '2020-08-05', 'modified' => '2020-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '12022', 'image' => '20200805115301_1596580326.Clipboard13a.jpg', 'article_date' => '2020-08-05 11:52:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '12273', 'article_category_id' => '1', 'title' => 'Health Experts Urge Government to Impose Lockdown and Curfew if Required', 'sub_title' => '', 'summary' => 'August 5: Health experts have suggested the government to take the issue of coronavirus seriously as the infection has been spreading rapidly after the government lifted the lockdown.', '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: Health experts have suggested the government to take the issue of coronavirus seriously as the infection has been spreading rapidly after the government lifted the lockdown.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The experts warned the government during a meeting with stakeholders at the Prime Minister’s Official Residence in Baluwatar Tuesday (August 4) that the pandemic is likely to inflict heavy losses if adequate measures are not taken promptly. They urged the government to impose strict measures in places with high rate of infection.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">They recommended the government to either adopt strict measures in high-risk areas or to impose lockdown for another two weeks to stem the spread of the deadly disease. They suggested the government to impose curfew if necessary and seal the affected areas completely. They also urged the government not to allow entry of any foreign nationals into 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"">The government had lifted the four-month long lockdown imposed on March 24 about two weeks ago. Cases of coronavirus have been increasing rapidly after the government lifted the lockdown. Stating that the coronavirus pandemic would take a dangerous form if the current situation persists, the health experts urged the government to take strict and effective measures to curb the disease. </span></span></span></span></p> <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 experts concluded that the public has not been adopting necessary precautionary measures while the government’s decision to downplay the seriousness of the issue has further heightened the risk of disease transmission.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Public health expert Dr Sameer Mani Dixit informed that they suggested the government to adopt strict measures in areas with high rate of infection and to ease the restrictions where the situation is normal.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“We have urged the government to impose or lift the restriction considering the situation and the extent of infection in any particular area,” said Dr Dixit, adding that majority of health experts recommended the government to increase the number of tests.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“Lockdown is the best measure to curb the spread of infection,” he added.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Another health expert Dr Rabindra Pandey suggested the government to control the flow of people from infected areas. He also urged the government to ensure that precautionary measures and health standards are met at the formal sector and physical distance maintained at workplace.</span></span></span></span></p> <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 Dr Pandey, the prime minister has pledged to discuss the suggestions of the experts at the Covid-19 Crisis Management Centre (CCMC) meeting and the cabinet and then take action accordingly.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-05', 'modified' => '2020-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '12021', 'image' => '20200805095116_1596581375.PS_Ktmjpg2.jpg', 'article_date' => '2020-08-05 09:50:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '12274', 'article_category_id' => '1', 'title' => 'DoTM Suspends Distributing Driving License ', 'sub_title' => '', 'summary' => 'August 5: The Department of Transportation Management (DoTM) has suspended distribution of driving license from all four offices within the Kathmandu Valley. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">August 5: The Department of Transportation Management (DoTM) has suspended distribution of driving license from all four offices within the Kathmandu Valley. </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:"Nirmala UI","sans-serif"">DoTM has cited overcrowding for putting on hold the distribution of driving licenses.</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:"Nirmala UI","sans-serif"">The department said it was not able to manage the crowd despite government’s directive to maintain physical distance among the service seekers.</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:"Nirmala UI","sans-serif"">DoTM had started issuing license since mid-June after the government eased the lockdown restriction.</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:"Nirmala UI","sans-serif""> An official at the DoTM said that they decided to suspend all activities until the Covid-19 situation improves in the capital. According to the official, such measure was taken due to rise in number of coronavirus cases in Kathmandu Valley after the government lifted the lockdown two weeks ago.</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:"Nirmala UI","sans-serif"">With this decision, DoTM offices at Jagati, Ekantakuna, Sukedhara and Thulobharyanag have suspended their services until further notice. </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:"Nirmala UI","sans-serif"">DoTM has also suspended renewal of license. The department has not taken any tests after the government imposed lockdown on March 24.</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:"Nirmala UI","sans-serif"">The department has urged drivers to show the receipt from the office instead of license for the time being.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-08-05', 'modified' => '2020-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '12020', 'image' => '20200805102819_Smart-Driving-License.jpg', 'article_date' => '2020-08-05 10:26:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '12271', 'article_category_id' => '1', 'title' => 'NOC Gives Permission for Fuel Transport taking Advantage of Lockdown', 'sub_title' => '', 'summary' => 'August 4: Nepal Oil Corporation has given permission to 23 tankers to transport aviation fuel by ignoring its own bylaws. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">August 4: Nepal Oil Corporation has given permission to 23 tankers to transport aviation fuel by ignoring its own bylaws. It has been learnt that NOC secretly issued permission for the transportation of fuel from Raxaul to Sinamangal by violating the provision of the Petroleum Transportation Regulation 2073. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">With the approval, the state-owned oil monopoly has violated its bylaws. Some entrepreneurs have approached the Commission for the Investigation of Abuse of Authority (CIAA) against this decision. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">There is a provision in clause 3 of the bylaw that the corporation has to publish a 30-day notice in a national daily regarding an invitation for bid to acquire service from interested individual or company. Last June, the corporation gave permission to the same tankers that were earlier denied permission for not completing the due process. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">In 2017, the corporation had given permission to 32 tankers for fuel transport without any notice. However, the corporation itself revoked the permission after Nepal Petroleum Transport Entrepreneurs warned about agitation. The entrepreneurs had approached CIAA at that time as well. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">The entrepreneurs say that the tankers were given permission taking the advantage of lockdown. The corporation has again given the permit without issuing any public notice. A complaint has been filed at the CIAA alleging that the high level officials of the corporation have given approval by taking bribe. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Spokesperson of NOC, Binit Mani Upadhayay said that the temporary permission was given by the Board of Directors. He claimed that the right of way out is in the hands of BOD if there is any difficulty in making and implementing the laws. “The BOD has the right to eliminate obstacles in the formulation and implementation of the bylaws. The approval has been given as per the decision of the board,” he told New Business Age. </span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-08-04', 'modified' => '2020-08-04', 'keywords' => '', 'description' => '', 'sortorder' => '12019', 'image' => '20200804040802_1596492171.Clipboard01.jpg', 'article_date' => '2020-08-04 16:07:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '12272', 'article_category_id' => '1', 'title' => 'Price of Gold Reaches Rs 99,800 per Tola', 'sub_title' => '', 'summary' => 'August 4: The price of gold has reached Rs 99,800 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 4: The price of gold has reached Rs 99,800 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"">Although the price of gold remained stable on Monday, it increased by Rs 300 per 11 grams to reach an all-time high of Rs 99,800.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Federation of Nepalese Gold and Silver Dealers Association on Tuesday (August 4) confirmed the increase in price of gold. According to the federation, fine gold is being traded for Rs 99,800 in the Nepalese 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"">Meanwhile, silver is being traded for Rs 1230 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"">Gold dealers said 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> ', 'published' => true, 'created' => '2020-08-04', 'modified' => '2020-08-04', 'keywords' => '', 'description' => '', 'sortorder' => '12018', 'image' => '20200804052953_gold.jpg', 'article_date' => '2020-08-04 17:29:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '12270', 'article_category_id' => '1', 'title' => 'Banks Struggle to Lend Despite Adequate Capital', 'sub_title' => '', 'summary' => 'August 4: It has been two weeks since the government lifted lockdown, but the flow of loan from banks has not seen any significant improvement. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">August 4: It has been two weeks since the government lifted lockdown, but the flow of loan from banks has not seen any significant improvement. Although the banks have lowered the rate of interest, very few customers have visited the banks seeking new loans.</span></span></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 Unicode MS"">Commercial banks had availed loan of Rs 86 billion between mid-June to mid-July. But they have been able to lend only Rs 36.95 billion as of July end during the last 15 days of the month. </span></span></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 Unicode MS"">All 27 commercial banks of the country are yet to recover a total loan of Rs 2903 billion as of mid-July 2020. The outstanding loan has dropped to Rs 2866.05 billion as of July end.</span></span></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 Unicode MS"">Although the flow of loan from banks has dropped significantly, there has been an increase in deposits of late. During mid-June to mid-July, commercial banks collected deposits worth Rs 129 billion. The collection of deposits dropped to Rs 490 million in the last 15 days of July. </span></span></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 Unicode MS"">The total deposits of all the commercial banks was Rs 3219 billion as of mid-May 2020, which increased to Rs 3294 billion within a month.</span></span></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 Unicode MS"">Of late, banks have been lowering the rate of interest to attract more customers. Since mid-June, banks have been charging interest in single digit after lowering the rate of interest by 2 percentage points. They have also announced a scheme to provide relief to the Covid-19 affected individuals and institutions. Despite such steps, there hasn’t been any encouraging development in flow of loans.</span></span></span></span></p> ', 'published' => true, 'created' => '2020-08-04', 'modified' => '2020-08-04', 'keywords' => '', 'description' => '', 'sortorder' => '12017', 'image' => '20200804031329_1596492776.Clipboard03.jpg', 'article_date' => '2020-08-04 15:12:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '12268', 'article_category_id' => '1', 'title' => '12 Companies Express Interest to Resume Air Service', 'sub_title' => '', 'summary' => 'August 4: International and domestic airline companies have started gearing up to resume their service after the government decided to lift the ban of air service from August 17. ', '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 4: International and domestic airline companies have started gearing up to resume their service after the government decided to lift the ban of air service from August 17. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">As of Monday (August 3), 12 airline companies including two from Nepal have presented their proposals to the Civil Aviation Authority of Nepal (CAAN) for international flights. Similarly, all domestic airline companies have also presented their proposals to the aviation regulatory body of Nepal to resume their business.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Commercial flights have been halted since the last five months due to coronavirus pandemic. The government has allowed only emergency flights for rescue operations and medical cargo since imposing lockdown on March 24. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Nepal Airlines Corporation – the flag carrier of Nepal - and Himalaya Airlines have showed their interest to resume international flights after the government lifts the restriction from August 17. Other companies willing to restart commercial flights include Indigo Air of India, Air China and China Southern of China, Salam Air of Oman, Jazeera Air of Kuwait, Fly Dubai of the UAE, Malaysian Airlines and Malindo Air of Malaysia, Air Arabia of Saudi Arabia, and Turkish Airlines.</span></span></span></span></p> <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 CAAN, these companies have proposed holding 158 flights per week.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“This figure is expected to rise,” said the source.</span></span></span></span></p> <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 state-owned NAC has proposed conducting 57 flights per week while Turkish Airlines, Air China and China Southern have proposed organising only 1 flight each.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">CAAN informed New Business Age that it is yet to decide how much flights will the interested airlines companies will be allowed to conduct. Informed sources said that CAAN is preparing to allow only 25 to 30 percent of flights compared to the pre-lockdown period.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The airline operators must adhere to the protocols set by the World Health Organisation and the ICA0. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“We are yet to decide on the frequency of flights and the destinations due to a surge in number of coronavirus cases again,” said CAAN Spokesperson Raj Kumar Chhetri.</span></span></span></span></p> ', 'published' => true, 'created' => '2020-08-04', 'modified' => '2020-08-04', 'keywords' => '', 'description' => '', 'sortorder' => '12016', 'image' => '20200804122127_1596492326.1.jpg', 'article_date' => '2020-08-04 12:20:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '12269', 'article_category_id' => '1', 'title' => 'Sushil Bhatta Appointed CEO of Investment Board', 'sub_title' => '', 'summary' => 'August 4: The government has appointed engineer Sushil Bhatta as the CEO of Investment Board Nepal.', 'content' => '<p><img alt="" src="/app/webroot/userfiles/images/Clipboard10%2810%29%281%29.jpg" style="height:284px; width:300px" /></p> <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 4: The government has appointed engineer Sushil Bhatta as the CEO of Investment Board Nepal. A meeting of the Council of Ministers on Monday (August 3) decided to appoint Bhatta, who is a member of the National Planning Commission, as CEO of the board,</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The post of CEO at the board was lying vacant after the then CEO Maha Prasad Adhikari was appointed as governor of Nepal Rastra Bank. Besides Bhatta, the names of former member of the Electricity Regulatory Commission Ram Krishna Khatiwada and CEO of Province 1 Investment Authority were also recommended for the post of IBN’s CEO. </span></span></span></span></p> <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 three-member committee headed by Finance Minister Yuba Raj Khatiwada was formed to recommend the names for the post of IBN’s CEO. Out of 12 individuals who had filed application to lead the board, the government had shortlisted the applicants after a study conducted by NRB Governor Adhikari.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">CEO of National Reconstruction Authority Sushil Gyawali, former secretary Laxmi Bilas Koirala, former CEO of Nepal Tourism Board Deepak Raj Joshi, former administrator at Citizens Investment Trust Krishna Acharya, former executive director of Special Economic Zones Chandika Bhatta, IBN’s consultant Ashish Gajurel , former CEO of Machhapuchhre Bank Suman Sharma and associate professor at TU Ramesh Chandra Poudel were the other aspirants.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Bhatta has more than 15 years of experience in project management and infrastructure development.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-04', 'modified' => '2020-08-04', 'keywords' => '', 'description' => '', 'sortorder' => '12015', 'image' => '20200804124452_20200604020901_IBN.jpg', 'article_date' => '2020-08-04 12:43:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '12267', 'article_category_id' => '1', 'title' => 'Life Insurance Companies in Brisk Business Toward End of FY', 'sub_title' => '', 'summary' => 'August 2: Life insurance companies recorded significant increase in their business during the last fiscal year amid threat of coronavirus pandemic.', '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 2: Life insurance companies recorded significant increase in their business during the last fiscal year amid threat of coronavirus pandemic.</span></span></span></span></p> <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 collection of insurance premium had initially declined for three months after the government imposed lockdown on March 24. However, toward the end of the last fiscal year, collection of insurance premium saw a remarkable increase, according to preliminary report of the Insurance Board Nepal.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The collection of insurance premium between mid-March to mid-May was around Rs 2 billion per month. It rose to Rs 4.74 billion between mid-May to mid-June. The collection of insurance premium skyrocketed to Rs 24.55 billion in mid-June to mid-July, according to IBN.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Insurance companies say that their business gained momentum after the government lifted the lockdown. Their business was back on track toward the end of the last fiscal year.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">According to the data prepared by IBN, collection of insurance premium of life insurance companies during the last fiscal year 2019/20 was Rs 94.38 billion, which is 34 percent more than the amount in the previous fiscal year 2018/19. In FY 2018/19, collection of insurance premium was Rs 70 billion. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Stakeholders were expecting an increase in collection of insurance premium by only 15 percent.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-02', 'modified' => '2020-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '12014', 'image' => '20200802063220_1596318212.Clipboard08.jpg', 'article_date' => '2020-08-02 18:31:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '12266', 'article_category_id' => '1', 'title' => 'Birgunj Customs Office Tops Import and Export of Goods', 'sub_title' => '', 'summary' => 'August 2: Birgunj Customs Office has once again maintained its reputation as the main customs point of the country with maximum export during the last fiscal year.', '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 2: Birgunj Customs Office has once again maintained its reputation as the main customs point of the country with maximum export during the last fiscal year.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">In FY 2019/20, export from this customs point was 32 percent of the total export of 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"">Birgunj Customs Office informed that goods worth Rs 32.27 billion were exported from this customs point during the review period. The export from this point was worth Rs 24.53 billion in the previous year.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The total export of Nepal during the last fiscal year was Rs 97.70 billion.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Information Officer at the customs office, Bimal Sah, told New Business Age that the major export product from this customs point during the review period was refined palm oil. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“During the last fiscal year, 107,535 metric tons of refined palm oil worth Rs 11.72 billion was exported from here,” said Sah.</span></span></span></span></p> <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 export of palm oil during last fiscal year was almost double the amount of the previous year. In Fiscal Year 2018/19, a total of 57,576 metric tons of refined palm oil was exported from the same customs point. Altogether 14 oil refinery industries had been exporting palm oil from Birgunj. However, the export of palm oil has come to a halt since the last three months due to a ban imposed by India.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Other products exported from here is significant quantity includes juice, jam, soybean oil, synthetic yarn, sports shoes, toothpaste among others.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The Department of Customs informed that Birgunj Customs Office is responsible for overall 33 percent of export from the country. Biratnagar comes second at 29 percent followed by Tribhuvan International Airport (20 percent).</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Birgunj is also ahead of other customs points in import. Out of imports worth Rs 1196.79 billion, Birgunj Customs Points is alone responsible for import of Rs 413.39 billion, which is 34 percent of the total import. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-02', 'modified' => '2020-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '12013', 'image' => '20200802054428_1596317997.Clipboard04.jpg', 'article_date' => '2020-08-02 17:43:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '12265', 'article_category_id' => '1', 'title' => 'Public Transportation not following Criteria of Vehicle Operation ', 'sub_title' => '', 'summary' => 'August 2: Transport entrepreneurs have not been following the criteria set by the government for operating the public vehicles within the districts after the government lifted an ban on vehicular movement which was in effect during the four months long lockdown. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">August 2: Transport entrepreneurs have not been following the criteria set by the government for operating the public vehicles within the districts after the government lifted an ban on vehicular movement which was in effect during the four months long lockdown. In mid-July, the government of Nepal decided to allow operation of public vehicles by adopting safety measures and carrying passengers up to half the seat capacity. The government had also agreed to let the transport entrepreneurs charge up to 50% more fare than usual. However, the public vehicles are found carrying more passengers than that allowed by the government disregarding the increasing number of coronavirus infection. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Ramesh Dhakal of Koteshwor shares his experience that the vehicle keeps stopping to let passengers in the bus even after more than half of the seat capacity is already occupied. “Although they fill only half the seat capacity when they cannot find many passengers, they keep as many passengers as possible when they can ,” he says. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Hemant Acharya of Kirtipur also shares the same experience like that of Dhakal. He says although there are only half passengers in the microbus up to Balkhu, they let in passengers to the full capacity in areas where there aren’t any traffic police check posts. “They charge double fare but do not maintain physical distancing measures. The helpers do not wear mask as well,” he says. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">The transport entrepreneurs and government had recently reached an agreement to operate vehicles. As per the agreement, it is mandatory for the drivers/helpers to wear mask, gloves and keep a sanitizer in the vehicle. However, many vehicles do not have sanitizer in the vehicle and helpers do not wear mask and gloves, says Ram Thapa, a transport activist. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">“I have travelled in some public vehicles myself. Some have followed the safety measures while some have neglected them. In such cases, they can be a means of spreading the infection,” he says. He also alleges the Department of Transport Management and traffic police for not monitoring it the vehicles. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">The Metropolitan Traffic Police Division says that they have taken action against more than 50 vehicles carrying more passenger than half the seat capacity. Chief of the Division, SSP Bhim Prasad Dhakal said, "We are monitoring the situation by stopping vehicles at various places and warning those vehicles which have not adopted safety measures.” </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-02', 'modified' => '2020-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '12012', 'image' => '20200802014320_1596319054.Clipboard06.jpg', 'article_date' => '2020-08-02 13:42:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '12264', 'article_category_id' => '1', 'title' => '700 Applications for Seed Capital of Start-up Business', 'sub_title' => '', 'summary' => 'Aug 2: Around 700 persons have filed application for the seed capital announced by the government for start-up business.', '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"">Aug 2: Around 700 persons have filed application for the seed capital announced by the government for start-up business.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Initially, the government had said it would provide the capital as grant but later decided to provide it as concessional loan. </span></span></span></span></p> <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 National Planning Commission (NPC) has issued a notice in early May seeking application for the government support.</span></span></span></span></p> <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 NPC, start-up businesses in the fields of information technology, agriculture, health, tourism, education and industry have filed the application.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">NPC informed that the applicants will receive 50 percent amount needed for establishing the start-up business as concessional loan from the government. The rate of interest for such loan has been fixed at 2 percent per annum.</span></span></span></span></p> <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 applicant has to clearly mention in the proposal the status of self investment, the amount it seeks from the government and its investment partners. </span></span></span></span></p> <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 applicant must also mention the permanent account number (PAN) of the individual or the organisation seeking government support.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Officials at the NPC expect more applications as the deadline for submission has been extended due to the lockdown. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The government had envisioned a Challenge Fund to promote start-up businesses during the budget of last fiscal year. Later, a committee headed by NPC member decided to convert the fund into Start-up Business Seed Capital Grant. The government recently decided to provide the amount as concessional loan instead of grant because of the fragile economy caused by coronavirus pandemic.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-02', 'modified' => '2020-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '12011', 'image' => '20200802121212_1596318983.Clipboard15.jpg', 'article_date' => '2020-08-02 12:11:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '12263', 'article_category_id' => '1', 'title' => 'NOC Hikes Price of Petroleum Products ', 'sub_title' => '', 'summary' => 'August 2: Nepal Oil Corporation has increased the price of petroleum products effective from Saturday midnight (August 1). ', '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 2: Nepal Oil Corporation has increased the price of petroleum products effective from Saturday midnight (August 1). </span></span></span></span></p> <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 state-owned oil monopoly, it has increased the price of diesel, petrol and kerosene by Rs 2 per litre each. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">With the new price adjustment, kerosene and diesel will now cost Rs 90 per litre while petrol will cost Rs 104 per litre. Meanwhile, NOC has not changed the price of cooking gas and aviation turbine fuel.</span></span></span></span></p> <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 a statement issued by NOC, it decided to adjust the prices of petroleum products as per the revised list provided by the Indian Oil Corporation. NOC clarified that the price was hiked in accordance to the automatic pricing mechanism adopted by the state-owned oil company.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">NOC stated that the price of petrol has increased in the international market and therefore the price was adjusted in Nepal accordingly.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">NOC had earlier reviewed the price of petroleum products on July 10.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-02', 'modified' => '2020-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '12010', 'image' => '20200802105911_petrolpump.jpg', 'article_date' => '2020-08-02 10:58:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '12262', 'article_category_id' => '1', 'title' => 'Central Bank Issues Reverse Repo Again ', 'sub_title' => '', 'summary' => 'July 31: Nepal Rastra Bank (NRB) has been repeatedly mopping excess liquidity from banks and financial institutions (BFIs) since the last three months.', '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"">July 31: Nepal Rastra Bank (NRB) has been repeatedly mopping excess liquidity from banks and financial institutions (BFIs) since the last three months.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">In this regard, NRB on Thursday (July 30) issued reverse repo of Rs 20 billion with maturity period of one week. The reverse repo will mature on 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 central bank had also issued reverse repo of the same amount recently on July 23.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Of late, BFIs have reported more deposits while the flow of loan has not been proportionate, thereby causing excess liquidity. According to NRB, banks have excess liquidity of Rs 200 billion at present.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-07-31', 'modified' => '2020-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '12009', 'image' => '20200731035410_nrb.jpg', 'article_date' => '2020-07-31 15:53:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '12260', 'article_category_id' => '1', 'title' => 'Small Hotels Resume Operation, Big Ones in ‘Wait and Watch’ Situation', 'sub_title' => '', 'summary' => 'July 31: Small hotels and restaurants have opened from Thursday (July 30) after the government lifted a ban on hospitality industry after ending the months-long lockdown recently.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">July 31: Small hotels and restaurants have opened from Thursday (July 30) after the government lifted a ban on hospitality industry after ending the months-long lockdown recently.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">According to the Hotel Association of Nepal (HAN) hotels ranging from one star to three stars have resumed their service in Kathmandu Valley, Pokhara, Chitwan and other major tourist destinations across the country.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Besides hotels, trekking and mountaineering companies as well as tour and travel agencies have also started their business after four months of closure. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">However, very few big hotels have resumed their business so far. Although five-star hotels like Soaltee Crowne Plaza, Kathmandu Aloft and Marriot Hotel have reopened, other five-star hotels are yet to resume their service. It is said that the big hotels are not in a mood to resume full-fledged service anticipating lack of customers during the current 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">These hotels are making preparations to restart their business but are waiting for international flights to resume first. The government has decided to allow domestic and international flights from August 17.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Hotel entrepreneurs say that they are not in a hurry to reopen their hotels due to lack of internal and foreign tourists as the government is yet to lift the ban on air service. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">“Although there is no booking at the moment, we have given the message that the hotel industry has resumed service in Nepal,” said General Secretary of HAN Sajan Shakya, adding, “The government will allow operation of air service from August 17 so we are in a wait and watch situation.”</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Although the government has allowed hotel industry to resume their business, hotel entrepreneurs complain that the health protocols issued by the government is not clear. There is confusion regarding unclear policy on arrival of foreign tourists. The government has not stated clearly whether foreign tourists will have to stay in quarantine for 14 days or not and if PCR test alone is enough to let them in, said Shakya.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">HAN estimates a sharp decline in arrival of tourists this season. During last year, around 250,000 tourists had visited Nepal during this time. However, stakeholders believe it will take at least three to four years before the situation normalizes.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-07-31', 'modified' => '2020-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '12008', 'image' => '20200731031908_1596059366.Clipboard07.jpg', 'article_date' => '2020-07-31 15:18:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', '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: Work progress of P1 projects, which fall under the first priority of the Department of Roads (DoR), remained dismal in the last fiscal year. Out of 42 P1 projects under the department, only 6 achieved more than 80 percent work progress during fiscal year 2019/20.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">According to the department, 19 such projects have achieved work progress of 50 to 80 percent while the progress of 17 projects is less than 50 percent. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Similarly, the national pride projects have also failed to impress if the work progress in taken into consideration.</span></span></span></span></p> <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 DoR has failed to achieve its target set for national pride projects and other priority projects. The department has blamed coronavirus pandemic and the subsequent lockdown as well as half a dozen other reasons for the failure to meet its target.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The government had allocated Rs 127 billion to the department. However, it was able to spend only Rs 69.48 billion, which is 67.29 percent of the total budget.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">In the past, the department used to spend over 80 percent of the allocated budget.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Spokesperson at the department Shiva Hari Sapkota told New Business Age that they could not meet their target due to the coronavirus pandemic.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">In the past one year, the department was able to blacktop 729 kilometers of road in the national road network. The department had set a target of blacktopping 1200 kilometers of road during the last fiscal year but was able to achieve only 60.75 percent of the target.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Bureaucratic red tape and other hurdles in release of foreign grant and assistance is another major reason for the delay in work completion. Other factors include delay in approval of Environment Impact Assessment, compensation distribution and land acquisition, obstruction by locals demanding more compensation, human resource management for projects handed over to the provincial governments among others.</span></span></span></span></p> ', 'published' => true, 'created' => '2020-08-05', 'modified' => '2020-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '12022', 'image' => '20200805115301_1596580326.Clipboard13a.jpg', 'article_date' => '2020-08-05 11:52:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '12273', 'article_category_id' => '1', 'title' => 'Health Experts Urge Government to Impose Lockdown and Curfew if Required', 'sub_title' => '', 'summary' => 'August 5: Health experts have suggested the government to take the issue of coronavirus seriously as the infection has been spreading rapidly after the government lifted the lockdown.', '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: Health experts have suggested the government to take the issue of coronavirus seriously as the infection has been spreading rapidly after the government lifted the lockdown.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The experts warned the government during a meeting with stakeholders at the Prime Minister’s Official Residence in Baluwatar Tuesday (August 4) that the pandemic is likely to inflict heavy losses if adequate measures are not taken promptly. They urged the government to impose strict measures in places with high rate of infection.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">They recommended the government to either adopt strict measures in high-risk areas or to impose lockdown for another two weeks to stem the spread of the deadly disease. They suggested the government to impose curfew if necessary and seal the affected areas completely. They also urged the government not to allow entry of any foreign nationals into 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"">The government had lifted the four-month long lockdown imposed on March 24 about two weeks ago. Cases of coronavirus have been increasing rapidly after the government lifted the lockdown. Stating that the coronavirus pandemic would take a dangerous form if the current situation persists, the health experts urged the government to take strict and effective measures to curb the disease. </span></span></span></span></p> <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 experts concluded that the public has not been adopting necessary precautionary measures while the government’s decision to downplay the seriousness of the issue has further heightened the risk of disease transmission.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Public health expert Dr Sameer Mani Dixit informed that they suggested the government to adopt strict measures in areas with high rate of infection and to ease the restrictions where the situation is normal.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“We have urged the government to impose or lift the restriction considering the situation and the extent of infection in any particular area,” said Dr Dixit, adding that majority of health experts recommended the government to increase the number of tests.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“Lockdown is the best measure to curb the spread of infection,” he added.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Another health expert Dr Rabindra Pandey suggested the government to control the flow of people from infected areas. He also urged the government to ensure that precautionary measures and health standards are met at the formal sector and physical distance maintained at workplace.</span></span></span></span></p> <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 Dr Pandey, the prime minister has pledged to discuss the suggestions of the experts at the Covid-19 Crisis Management Centre (CCMC) meeting and the cabinet and then take action accordingly.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-05', 'modified' => '2020-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '12021', 'image' => '20200805095116_1596581375.PS_Ktmjpg2.jpg', 'article_date' => '2020-08-05 09:50:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '12274', 'article_category_id' => '1', 'title' => 'DoTM Suspends Distributing Driving License ', 'sub_title' => '', 'summary' => 'August 5: The Department of Transportation Management (DoTM) has suspended distribution of driving license from all four offices within the Kathmandu Valley. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">August 5: The Department of Transportation Management (DoTM) has suspended distribution of driving license from all four offices within the Kathmandu Valley. </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:"Nirmala UI","sans-serif"">DoTM has cited overcrowding for putting on hold the distribution of driving licenses.</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:"Nirmala UI","sans-serif"">The department said it was not able to manage the crowd despite government’s directive to maintain physical distance among the service seekers.</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:"Nirmala UI","sans-serif"">DoTM had started issuing license since mid-June after the government eased the lockdown restriction.</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:"Nirmala UI","sans-serif""> An official at the DoTM said that they decided to suspend all activities until the Covid-19 situation improves in the capital. According to the official, such measure was taken due to rise in number of coronavirus cases in Kathmandu Valley after the government lifted the lockdown two weeks ago.</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:"Nirmala UI","sans-serif"">With this decision, DoTM offices at Jagati, Ekantakuna, Sukedhara and Thulobharyanag have suspended their services until further notice. </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:"Nirmala UI","sans-serif"">DoTM has also suspended renewal of license. The department has not taken any tests after the government imposed lockdown on March 24.</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:"Nirmala UI","sans-serif"">The department has urged drivers to show the receipt from the office instead of license for the time being.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-08-05', 'modified' => '2020-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '12020', 'image' => '20200805102819_Smart-Driving-License.jpg', 'article_date' => '2020-08-05 10:26:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '12271', 'article_category_id' => '1', 'title' => 'NOC Gives Permission for Fuel Transport taking Advantage of Lockdown', 'sub_title' => '', 'summary' => 'August 4: Nepal Oil Corporation has given permission to 23 tankers to transport aviation fuel by ignoring its own bylaws. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">August 4: Nepal Oil Corporation has given permission to 23 tankers to transport aviation fuel by ignoring its own bylaws. It has been learnt that NOC secretly issued permission for the transportation of fuel from Raxaul to Sinamangal by violating the provision of the Petroleum Transportation Regulation 2073. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">With the approval, the state-owned oil monopoly has violated its bylaws. Some entrepreneurs have approached the Commission for the Investigation of Abuse of Authority (CIAA) against this decision. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">There is a provision in clause 3 of the bylaw that the corporation has to publish a 30-day notice in a national daily regarding an invitation for bid to acquire service from interested individual or company. Last June, the corporation gave permission to the same tankers that were earlier denied permission for not completing the due process. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">In 2017, the corporation had given permission to 32 tankers for fuel transport without any notice. However, the corporation itself revoked the permission after Nepal Petroleum Transport Entrepreneurs warned about agitation. The entrepreneurs had approached CIAA at that time as well. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">The entrepreneurs say that the tankers were given permission taking the advantage of lockdown. The corporation has again given the permit without issuing any public notice. A complaint has been filed at the CIAA alleging that the high level officials of the corporation have given approval by taking bribe. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Spokesperson of NOC, Binit Mani Upadhayay said that the temporary permission was given by the Board of Directors. He claimed that the right of way out is in the hands of BOD if there is any difficulty in making and implementing the laws. “The BOD has the right to eliminate obstacles in the formulation and implementation of the bylaws. The approval has been given as per the decision of the board,” he told New Business Age. </span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-08-04', 'modified' => '2020-08-04', 'keywords' => '', 'description' => '', 'sortorder' => '12019', 'image' => '20200804040802_1596492171.Clipboard01.jpg', 'article_date' => '2020-08-04 16:07:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '12272', 'article_category_id' => '1', 'title' => 'Price of Gold Reaches Rs 99,800 per Tola', 'sub_title' => '', 'summary' => 'August 4: The price of gold has reached Rs 99,800 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 4: The price of gold has reached Rs 99,800 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"">Although the price of gold remained stable on Monday, it increased by Rs 300 per 11 grams to reach an all-time high of Rs 99,800.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Federation of Nepalese Gold and Silver Dealers Association on Tuesday (August 4) confirmed the increase in price of gold. According to the federation, fine gold is being traded for Rs 99,800 in the Nepalese 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"">Meanwhile, silver is being traded for Rs 1230 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"">Gold dealers said 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> ', 'published' => true, 'created' => '2020-08-04', 'modified' => '2020-08-04', 'keywords' => '', 'description' => '', 'sortorder' => '12018', 'image' => '20200804052953_gold.jpg', 'article_date' => '2020-08-04 17:29:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '12270', 'article_category_id' => '1', 'title' => 'Banks Struggle to Lend Despite Adequate Capital', 'sub_title' => '', 'summary' => 'August 4: It has been two weeks since the government lifted lockdown, but the flow of loan from banks has not seen any significant improvement. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">August 4: It has been two weeks since the government lifted lockdown, but the flow of loan from banks has not seen any significant improvement. Although the banks have lowered the rate of interest, very few customers have visited the banks seeking new loans.</span></span></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 Unicode MS"">Commercial banks had availed loan of Rs 86 billion between mid-June to mid-July. But they have been able to lend only Rs 36.95 billion as of July end during the last 15 days of the month. </span></span></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 Unicode MS"">All 27 commercial banks of the country are yet to recover a total loan of Rs 2903 billion as of mid-July 2020. The outstanding loan has dropped to Rs 2866.05 billion as of July end.</span></span></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 Unicode MS"">Although the flow of loan from banks has dropped significantly, there has been an increase in deposits of late. During mid-June to mid-July, commercial banks collected deposits worth Rs 129 billion. The collection of deposits dropped to Rs 490 million in the last 15 days of July. </span></span></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 Unicode MS"">The total deposits of all the commercial banks was Rs 3219 billion as of mid-May 2020, which increased to Rs 3294 billion within a month.</span></span></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 Unicode MS"">Of late, banks have been lowering the rate of interest to attract more customers. Since mid-June, banks have been charging interest in single digit after lowering the rate of interest by 2 percentage points. They have also announced a scheme to provide relief to the Covid-19 affected individuals and institutions. Despite such steps, there hasn’t been any encouraging development in flow of loans.</span></span></span></span></p> ', 'published' => true, 'created' => '2020-08-04', 'modified' => '2020-08-04', 'keywords' => '', 'description' => '', 'sortorder' => '12017', 'image' => '20200804031329_1596492776.Clipboard03.jpg', 'article_date' => '2020-08-04 15:12:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '12268', 'article_category_id' => '1', 'title' => '12 Companies Express Interest to Resume Air Service', 'sub_title' => '', 'summary' => 'August 4: International and domestic airline companies have started gearing up to resume their service after the government decided to lift the ban of air service from August 17. ', '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 4: International and domestic airline companies have started gearing up to resume their service after the government decided to lift the ban of air service from August 17. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">As of Monday (August 3), 12 airline companies including two from Nepal have presented their proposals to the Civil Aviation Authority of Nepal (CAAN) for international flights. Similarly, all domestic airline companies have also presented their proposals to the aviation regulatory body of Nepal to resume their business.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Commercial flights have been halted since the last five months due to coronavirus pandemic. The government has allowed only emergency flights for rescue operations and medical cargo since imposing lockdown on March 24. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Nepal Airlines Corporation – the flag carrier of Nepal - and Himalaya Airlines have showed their interest to resume international flights after the government lifts the restriction from August 17. Other companies willing to restart commercial flights include Indigo Air of India, Air China and China Southern of China, Salam Air of Oman, Jazeera Air of Kuwait, Fly Dubai of the UAE, Malaysian Airlines and Malindo Air of Malaysia, Air Arabia of Saudi Arabia, and Turkish Airlines.</span></span></span></span></p> <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 CAAN, these companies have proposed holding 158 flights per week.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“This figure is expected to rise,” said the source.</span></span></span></span></p> <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 state-owned NAC has proposed conducting 57 flights per week while Turkish Airlines, Air China and China Southern have proposed organising only 1 flight each.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">CAAN informed New Business Age that it is yet to decide how much flights will the interested airlines companies will be allowed to conduct. Informed sources said that CAAN is preparing to allow only 25 to 30 percent of flights compared to the pre-lockdown period.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The airline operators must adhere to the protocols set by the World Health Organisation and the ICA0. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“We are yet to decide on the frequency of flights and the destinations due to a surge in number of coronavirus cases again,” said CAAN Spokesperson Raj Kumar Chhetri.</span></span></span></span></p> ', 'published' => true, 'created' => '2020-08-04', 'modified' => '2020-08-04', 'keywords' => '', 'description' => '', 'sortorder' => '12016', 'image' => '20200804122127_1596492326.1.jpg', 'article_date' => '2020-08-04 12:20:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '12269', 'article_category_id' => '1', 'title' => 'Sushil Bhatta Appointed CEO of Investment Board', 'sub_title' => '', 'summary' => 'August 4: The government has appointed engineer Sushil Bhatta as the CEO of Investment Board Nepal.', 'content' => '<p><img alt="" src="/app/webroot/userfiles/images/Clipboard10%2810%29%281%29.jpg" style="height:284px; width:300px" /></p> <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 4: The government has appointed engineer Sushil Bhatta as the CEO of Investment Board Nepal. A meeting of the Council of Ministers on Monday (August 3) decided to appoint Bhatta, who is a member of the National Planning Commission, as CEO of the board,</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The post of CEO at the board was lying vacant after the then CEO Maha Prasad Adhikari was appointed as governor of Nepal Rastra Bank. Besides Bhatta, the names of former member of the Electricity Regulatory Commission Ram Krishna Khatiwada and CEO of Province 1 Investment Authority were also recommended for the post of IBN’s CEO. </span></span></span></span></p> <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 three-member committee headed by Finance Minister Yuba Raj Khatiwada was formed to recommend the names for the post of IBN’s CEO. Out of 12 individuals who had filed application to lead the board, the government had shortlisted the applicants after a study conducted by NRB Governor Adhikari.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">CEO of National Reconstruction Authority Sushil Gyawali, former secretary Laxmi Bilas Koirala, former CEO of Nepal Tourism Board Deepak Raj Joshi, former administrator at Citizens Investment Trust Krishna Acharya, former executive director of Special Economic Zones Chandika Bhatta, IBN’s consultant Ashish Gajurel , former CEO of Machhapuchhre Bank Suman Sharma and associate professor at TU Ramesh Chandra Poudel were the other aspirants.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Bhatta has more than 15 years of experience in project management and infrastructure development.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-04', 'modified' => '2020-08-04', 'keywords' => '', 'description' => '', 'sortorder' => '12015', 'image' => '20200804124452_20200604020901_IBN.jpg', 'article_date' => '2020-08-04 12:43:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '12267', 'article_category_id' => '1', 'title' => 'Life Insurance Companies in Brisk Business Toward End of FY', 'sub_title' => '', 'summary' => 'August 2: Life insurance companies recorded significant increase in their business during the last fiscal year amid threat of coronavirus pandemic.', '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 2: Life insurance companies recorded significant increase in their business during the last fiscal year amid threat of coronavirus pandemic.</span></span></span></span></p> <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 collection of insurance premium had initially declined for three months after the government imposed lockdown on March 24. However, toward the end of the last fiscal year, collection of insurance premium saw a remarkable increase, according to preliminary report of the Insurance Board Nepal.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The collection of insurance premium between mid-March to mid-May was around Rs 2 billion per month. It rose to Rs 4.74 billion between mid-May to mid-June. The collection of insurance premium skyrocketed to Rs 24.55 billion in mid-June to mid-July, according to IBN.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Insurance companies say that their business gained momentum after the government lifted the lockdown. Their business was back on track toward the end of the last fiscal year.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">According to the data prepared by IBN, collection of insurance premium of life insurance companies during the last fiscal year 2019/20 was Rs 94.38 billion, which is 34 percent more than the amount in the previous fiscal year 2018/19. In FY 2018/19, collection of insurance premium was Rs 70 billion. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Stakeholders were expecting an increase in collection of insurance premium by only 15 percent.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-02', 'modified' => '2020-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '12014', 'image' => '20200802063220_1596318212.Clipboard08.jpg', 'article_date' => '2020-08-02 18:31:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '12266', 'article_category_id' => '1', 'title' => 'Birgunj Customs Office Tops Import and Export of Goods', 'sub_title' => '', 'summary' => 'August 2: Birgunj Customs Office has once again maintained its reputation as the main customs point of the country with maximum export during the last fiscal year.', '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 2: Birgunj Customs Office has once again maintained its reputation as the main customs point of the country with maximum export during the last fiscal year.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">In FY 2019/20, export from this customs point was 32 percent of the total export of 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"">Birgunj Customs Office informed that goods worth Rs 32.27 billion were exported from this customs point during the review period. The export from this point was worth Rs 24.53 billion in the previous year.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The total export of Nepal during the last fiscal year was Rs 97.70 billion.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Information Officer at the customs office, Bimal Sah, told New Business Age that the major export product from this customs point during the review period was refined palm oil. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“During the last fiscal year, 107,535 metric tons of refined palm oil worth Rs 11.72 billion was exported from here,” said Sah.</span></span></span></span></p> <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 export of palm oil during last fiscal year was almost double the amount of the previous year. In Fiscal Year 2018/19, a total of 57,576 metric tons of refined palm oil was exported from the same customs point. Altogether 14 oil refinery industries had been exporting palm oil from Birgunj. However, the export of palm oil has come to a halt since the last three months due to a ban imposed by India.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Other products exported from here is significant quantity includes juice, jam, soybean oil, synthetic yarn, sports shoes, toothpaste among others.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The Department of Customs informed that Birgunj Customs Office is responsible for overall 33 percent of export from the country. Biratnagar comes second at 29 percent followed by Tribhuvan International Airport (20 percent).</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Birgunj is also ahead of other customs points in import. Out of imports worth Rs 1196.79 billion, Birgunj Customs Points is alone responsible for import of Rs 413.39 billion, which is 34 percent of the total import. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-02', 'modified' => '2020-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '12013', 'image' => '20200802054428_1596317997.Clipboard04.jpg', 'article_date' => '2020-08-02 17:43:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '12265', 'article_category_id' => '1', 'title' => 'Public Transportation not following Criteria of Vehicle Operation ', 'sub_title' => '', 'summary' => 'August 2: Transport entrepreneurs have not been following the criteria set by the government for operating the public vehicles within the districts after the government lifted an ban on vehicular movement which was in effect during the four months long lockdown. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">August 2: Transport entrepreneurs have not been following the criteria set by the government for operating the public vehicles within the districts after the government lifted an ban on vehicular movement which was in effect during the four months long lockdown. In mid-July, the government of Nepal decided to allow operation of public vehicles by adopting safety measures and carrying passengers up to half the seat capacity. The government had also agreed to let the transport entrepreneurs charge up to 50% more fare than usual. However, the public vehicles are found carrying more passengers than that allowed by the government disregarding the increasing number of coronavirus infection. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Ramesh Dhakal of Koteshwor shares his experience that the vehicle keeps stopping to let passengers in the bus even after more than half of the seat capacity is already occupied. “Although they fill only half the seat capacity when they cannot find many passengers, they keep as many passengers as possible when they can ,” he says. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Hemant Acharya of Kirtipur also shares the same experience like that of Dhakal. He says although there are only half passengers in the microbus up to Balkhu, they let in passengers to the full capacity in areas where there aren’t any traffic police check posts. “They charge double fare but do not maintain physical distancing measures. The helpers do not wear mask as well,” he says. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">The transport entrepreneurs and government had recently reached an agreement to operate vehicles. As per the agreement, it is mandatory for the drivers/helpers to wear mask, gloves and keep a sanitizer in the vehicle. However, many vehicles do not have sanitizer in the vehicle and helpers do not wear mask and gloves, says Ram Thapa, a transport activist. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">“I have travelled in some public vehicles myself. Some have followed the safety measures while some have neglected them. In such cases, they can be a means of spreading the infection,” he says. He also alleges the Department of Transport Management and traffic police for not monitoring it the vehicles. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">The Metropolitan Traffic Police Division says that they have taken action against more than 50 vehicles carrying more passenger than half the seat capacity. Chief of the Division, SSP Bhim Prasad Dhakal said, "We are monitoring the situation by stopping vehicles at various places and warning those vehicles which have not adopted safety measures.” </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-02', 'modified' => '2020-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '12012', 'image' => '20200802014320_1596319054.Clipboard06.jpg', 'article_date' => '2020-08-02 13:42:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '12264', 'article_category_id' => '1', 'title' => '700 Applications for Seed Capital of Start-up Business', 'sub_title' => '', 'summary' => 'Aug 2: Around 700 persons have filed application for the seed capital announced by the government for start-up business.', '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"">Aug 2: Around 700 persons have filed application for the seed capital announced by the government for start-up business.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Initially, the government had said it would provide the capital as grant but later decided to provide it as concessional loan. </span></span></span></span></p> <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 National Planning Commission (NPC) has issued a notice in early May seeking application for the government support.</span></span></span></span></p> <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 NPC, start-up businesses in the fields of information technology, agriculture, health, tourism, education and industry have filed the application.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">NPC informed that the applicants will receive 50 percent amount needed for establishing the start-up business as concessional loan from the government. The rate of interest for such loan has been fixed at 2 percent per annum.</span></span></span></span></p> <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 applicant has to clearly mention in the proposal the status of self investment, the amount it seeks from the government and its investment partners. </span></span></span></span></p> <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 applicant must also mention the permanent account number (PAN) of the individual or the organisation seeking government support.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Officials at the NPC expect more applications as the deadline for submission has been extended due to the lockdown. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The government had envisioned a Challenge Fund to promote start-up businesses during the budget of last fiscal year. Later, a committee headed by NPC member decided to convert the fund into Start-up Business Seed Capital Grant. The government recently decided to provide the amount as concessional loan instead of grant because of the fragile economy caused by coronavirus pandemic.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-02', 'modified' => '2020-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '12011', 'image' => '20200802121212_1596318983.Clipboard15.jpg', 'article_date' => '2020-08-02 12:11:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '12263', 'article_category_id' => '1', 'title' => 'NOC Hikes Price of Petroleum Products ', 'sub_title' => '', 'summary' => 'August 2: Nepal Oil Corporation has increased the price of petroleum products effective from Saturday midnight (August 1). ', '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 2: Nepal Oil Corporation has increased the price of petroleum products effective from Saturday midnight (August 1). </span></span></span></span></p> <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 state-owned oil monopoly, it has increased the price of diesel, petrol and kerosene by Rs 2 per litre each. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">With the new price adjustment, kerosene and diesel will now cost Rs 90 per litre while petrol will cost Rs 104 per litre. Meanwhile, NOC has not changed the price of cooking gas and aviation turbine fuel.</span></span></span></span></p> <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 a statement issued by NOC, it decided to adjust the prices of petroleum products as per the revised list provided by the Indian Oil Corporation. NOC clarified that the price was hiked in accordance to the automatic pricing mechanism adopted by the state-owned oil company.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">NOC stated that the price of petrol has increased in the international market and therefore the price was adjusted in Nepal accordingly.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">NOC had earlier reviewed the price of petroleum products on July 10.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-02', 'modified' => '2020-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '12010', 'image' => '20200802105911_petrolpump.jpg', 'article_date' => '2020-08-02 10:58:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '12262', 'article_category_id' => '1', 'title' => 'Central Bank Issues Reverse Repo Again ', 'sub_title' => '', 'summary' => 'July 31: Nepal Rastra Bank (NRB) has been repeatedly mopping excess liquidity from banks and financial institutions (BFIs) since the last three months.', '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"">July 31: Nepal Rastra Bank (NRB) has been repeatedly mopping excess liquidity from banks and financial institutions (BFIs) since the last three months.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">In this regard, NRB on Thursday (July 30) issued reverse repo of Rs 20 billion with maturity period of one week. The reverse repo will mature on 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 central bank had also issued reverse repo of the same amount recently on July 23.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Of late, BFIs have reported more deposits while the flow of loan has not been proportionate, thereby causing excess liquidity. According to NRB, banks have excess liquidity of Rs 200 billion at present.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-07-31', 'modified' => '2020-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '12009', 'image' => '20200731035410_nrb.jpg', 'article_date' => '2020-07-31 15:53:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '12260', 'article_category_id' => '1', 'title' => 'Small Hotels Resume Operation, Big Ones in ‘Wait and Watch’ Situation', 'sub_title' => '', 'summary' => 'July 31: Small hotels and restaurants have opened from Thursday (July 30) after the government lifted a ban on hospitality industry after ending the months-long lockdown recently.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">July 31: Small hotels and restaurants have opened from Thursday (July 30) after the government lifted a ban on hospitality industry after ending the months-long lockdown recently.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">According to the Hotel Association of Nepal (HAN) hotels ranging from one star to three stars have resumed their service in Kathmandu Valley, Pokhara, Chitwan and other major tourist destinations across the country.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Besides hotels, trekking and mountaineering companies as well as tour and travel agencies have also started their business after four months of closure. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">However, very few big hotels have resumed their business so far. Although five-star hotels like Soaltee Crowne Plaza, Kathmandu Aloft and Marriot Hotel have reopened, other five-star hotels are yet to resume their service. It is said that the big hotels are not in a mood to resume full-fledged service anticipating lack of customers during the current 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">These hotels are making preparations to restart their business but are waiting for international flights to resume first. The government has decided to allow domestic and international flights from August 17.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Hotel entrepreneurs say that they are not in a hurry to reopen their hotels due to lack of internal and foreign tourists as the government is yet to lift the ban on air service. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">“Although there is no booking at the moment, we have given the message that the hotel industry has resumed service in Nepal,” said General Secretary of HAN Sajan Shakya, adding, “The government will allow operation of air service from August 17 so we are in a wait and watch situation.”</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Although the government has allowed hotel industry to resume their business, hotel entrepreneurs complain that the health protocols issued by the government is not clear. There is confusion regarding unclear policy on arrival of foreign tourists. The government has not stated clearly whether foreign tourists will have to stay in quarantine for 14 days or not and if PCR test alone is enough to let them in, said Shakya.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">HAN estimates a sharp decline in arrival of tourists this season. During last year, around 250,000 tourists had visited Nepal during this time. However, stakeholders believe it will take at least three to four years before the situation normalizes.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-07-31', 'modified' => '2020-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '12008', 'image' => '20200731031908_1596059366.Clipboard07.jpg', 'article_date' => '2020-07-31 15:18:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
