April 4: The coronavirus (COVID-19) pandemic-induced crisis is expected to decelerate Nepal’s economic growth to 5.3 percent (at market prices) in the fiscal year 2020, down from 7.1 percent a year earlier, according to the latest report published by the Asian Development Bank (ADB).…
April 3: Commercial and development banks have started donating money to the fund set up by the government in an effort to minimize the impact of the coronavirus pandemic.…
April 3: The British multinational banking and financial services company Standard Chartered Group has launched a USD 50 million global fund to provide assistance to those affected by the coronavirus (COVID-19) pandemic.…
April 3: Global equities mostly rebounded Thursday from recent coronavirus-fuelled losses, as oil rallied on hopes of an end to a Saudi-Russia price…
April 3: In a move to ease the crippling lockdown imposed on March 24 to stop the possible outbreak of coronavirus (COVID-19), the government has decided to allow industries producing essential goods to resume operation provided that they meet certain health…
April 3: Five entrepreneurs and a golfer from Nepal have made it to the Forbes list of 30 under 30, 2020 in…
April 3: Consumers have complained of difficulties in getting daily essentials due to the shortage in the market following the lockdown imposed by the government to prevent the spread of coronavirus.…
April 3: The lockdown to contain corona pandemic has hit the gold and silver trade in the country…
April 2: The government is facing mounting challenge for resource management with the coronavirus taking heavy toll on the country’s economy.…
April 2: The government has cancelled the agreement with a private company to supply medical kits from China for the prevention and control of COVID-19 pandemic.…
April 1: The Nepal Oil Corporation has slashed the price of diesel, petrol and kerosene by Rs 10 per litre each effectively from Wednesday…
April 2: Production in almost all the industries in the Bara-Parsa industrial corridor have been shut down because of the absence of workers and halt in transportation due to the lockdown to prevent the coronavirus infection.…
April 1: UN Secretary-General Antonio Guterres warned Tuesday that the world faces the most challenging crisis since World War…
April 1: The Nepal Gas Industry (NGI) is preparing to distribute liquefied petroleum gas (LPG) from Wednesday at six various…
April 2: Surkhet Chamber of Commerce and Industries has distributed food supplies to deprived families of Ward no 4 and 6 of Birendranagar.…
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', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Segoe UI","sans-serif"">April 4: The coronavirus (COVID-19) pandemic-induced crisis is expected to decelerate Nepal’s economic growth to 5.3 percent (at market prices) in the fiscal year 2020, down from 7.1 percent a year earlier, according to the latest report published by the Asian Development Bank (ADB). The Manila-based lender in its annual flagship publication the Asian Development Outlook (ADO) 2020 projects Nepal’s GDP to recover at 6.4 percent for FY2021, assuming a quick end to the COVID-19 pandemic, a return to pre-COVID economic activities, and a normal monsoon. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Segoe UI","sans-serif"">“The government of Nepal expects a couple of large infrastructure projects, namely the 456-megawatt Upper Tamakoshi Hydroelectric Plant and Gautam Buddha International Airport, to be commercially operational by FY2021. Expectation of higher subnational level spending will also stimulate growth,” ADB said in a press statement. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Segoe UI","sans-serif"">“The global outbreak of the COVID-19 pandemic and subsequent nationwide lockdown that is necessary to contain the contagion will adversely affect the country’s economy,” the statement quoted ADB Country Director for Nepal Mukhtor Khamudkhanov as saying. According to him, industry and services face supply disruptions, and remittances will likely decline during the last quarter of this fiscal year, dampening domestic demand. “Growth will also be slower as a result of lower rice production. If the situation due to the COVID-19 pandemic further worsens, growth in FY2020 could be lower than currently anticipated growth,” he said. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Segoe UI","sans-serif"">Similarly, in its Nepal Macroeconomic Update, which was released on the same day ADO 2020 was published (April 3), ADB has stated that average annual inflation will inch up to 6 percent in FY2020, up from 4.6 percent a year earlier, reflecting lower production and supply chain disruptions due to the COVID-19 pandemic. According to the report, headline inflation has averaged 6.5 percent in the first seven months of FY2020, significantly higher than 4.2 percent a year earlier. “Food inflation increased by 9.8 percent as of mid-February 2020 compared to a year earlier, with significant increase in the prices of vegetables, spices, and alcoholic beverages. The temporary closure of international borders over COVID-19 concern has nudged up food prices. The average annual inflation for FY2020 could be higher than anticipated if the situation further worsens due to the COVID-19 pandemic,” says the report.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Segoe UI","sans-serif"">According to ADB, merchandise trade deficit narrowed by 4.9 percent year-on-year in the first seven months of FY2020 after widening by 15 percent in the year-earlier period. The deficit contracted on higher export growth, particularly of palm oil and cardamom to India and reduced import of construction materials, vehicles, and petroleum products. The improved trade balance has helped contain current account deficit to USD1 billion in the fiscal year through mid-February 2020 from USD 1.5 billion in the corresponding period a year earlier. The deficit is forecast to narrow from 7.7 percent of GDP in FY2019 to 5.4 percent on shrinking imports of petroleum products, capital, and consumer goods. However, ADB has expected it could be higher if remittances fall substantially in the last quarter of FY2020 </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Segoe UI","sans-serif"">According to the Nepal Macroeconomic Update, average annual inflation will stay moderate at 5.5 percent in FY2021, assuming a reversal to normal activities after the COVID-19 disruption, better harvest, subdued oil prices, and a modest uptick of inflation in India. “The current account deficit is expected to widen from 5 percent of GDP in FY2020 to 5.6 percent as imports of capital goods increase. The deficit will, however, be largely contained by lower oil prices, a gradual reduction in the import of fossil fuel with better electricity supply, and higher hydroelectricity exports to India, according to the report,” reads the report. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Segoe UI","sans-serif"">ADB said that downside risks to the outlook in FY2021 are the pervasiveness of the COVID-19 pandemic that could paralyze the economy if the outbreak persists. It warned against natural hazards like erratic monsoons and flood could depress farm output and damage infrastructure. “Persistent capacity deficiencies regarding project and program execution at the provincial and local levels will weaken subnational spending. Exogenous shocks such as the COVID-19 pandemic will weaken global demand, affecting out-migration for foreign employment and putting pressure on Nepal’s external stability,” reads the statement. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-04-04', 'modified' => '2020-04-04', 'keywords' => '', 'description' => '', 'sortorder' => '11624', 'image' => '20200404094739_82fecd1.jpeg', 'article_date' => '2020-04-04 09:46:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 1 => array( 'Article' => array( 'id' => '11873', 'article_category_id' => '1', 'title' => 'Banks Contribute Rs 254 Million for Fight Against COVID-19', 'sub_title' => '', 'summary' => 'April 3: Commercial and development banks have started donating money to the fund set up by the government in an effort to minimize the impact of the coronavirus pandemic. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">April 3: Commercial and development banks have started donating money to the fund set up by the government in an effort to minimize the impact of the coronavirus pandemic .</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">The banks have started voluntarily contributing to the cause after the government imposed a nationwide lockdown on March 24 to contain the spread of the pandemic. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">As of Thursday (April 2), around Rs 2 billion has been collected in the fund. The contribution of 27 A-class commercial banks alone stands at Rs 254 million, according to Nepal Bankers’ Association.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">Meanwhile, Rastriya Banijya Bank has contributed Rs 18.5 million while Nepal Bank Limited has contributed Rs 13.5 million. Agriculture Development Bank has deposited Rs 16 million in the fund.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">Other banks who have contributed to the fund include NMB Bank (Rs 15.1 million), Global IME Bank (Rs11.5 million), Bank of Kathmandu (Rs10.5 million), Citizens Bank (Rs 5 million), Century Bank (Rs 8.5 million), Civil Bank (Rs 7.8 million), Himalayan Bank (Rs 12.5 million), Kumari Bank (Rs 7 million), Laxmi Bank (Rs 10 million), Machhapuchhre Bank (Rs 10.06 million), Mega Bank (Rs 13.5 million), NCC Bank (Rs 10 million), Nepal Bangladesh Bank (Rs 14.5 million), Nepal SBI Bank (Rs 10 million), Nepal Investment Bank (Rs 10 million), Prabhu Bank (Rs 10.1 million), Prime Bank (Rs 17.5 million), Sanima Bank (Rs 16.8 million) and Siddhartha Bank (Rs 8.5 million). </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">Meanwhile, Standard Chartered Bank, Sunrise Bank, NIC Asia Bank, Nabil Bank and Everest Bank are said to be holding internal discussion about contributing to the fund. All of these banks have pledged to support the government initiative.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">The fund collected around Rs 1 billion on Thursday alone. According to the Office of the Prime Minister and Council of Ministers (OPMCM), the fund has received around Rs 2 billion from generous contributors.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">The government had set up the fund on March 24 with an initial contribution of Rs 500 million to provide relief to the sectors affected by coronavirus. Spokesperson at the OPMCM Rajendra Kumar Poudel informed that the fund is receiving more contributions day by day.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">Finance Minister Yuba Raj Khatiwada informed that the transactions of the fund will be transparent as the government has already formed a work procedure to mobilise the fund.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">It has been learnt that the fund will be basically used to procure medicines and equipment for coronavirus and for free treatment of the patients.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-04-03', 'modified' => '2020-04-03', 'keywords' => '', 'description' => '', 'sortorder' => '11623', 'image' => '20200403045712_20200205110120_nw.jpg', 'article_date' => '2020-04-03 16:56:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 2 => array( 'Article' => array( 'id' => '11872', 'article_category_id' => '1', 'title' => 'StanChart Announces USD 50m COVID-19 Assistance Fund', 'sub_title' => '', 'summary' => 'April 3: The British multinational banking and financial services company Standard Chartered Group has launched a USD 50 million global fund to provide assistance to those affected by the coronavirus (COVID-19) pandemic. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:Arial">April 3: The British multinational banking and financial services company Standard Chartered Group has launched a USD 50 million global fund to provide assistance to those affected by the coronavirus (COVID-19) pandemic. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:Arial">Issuing a press statement, Standard Chartered said that the Group will immediately donate USD 25 million to support emergency relief in the most affected markets. “The additional USD 25 million will help communities over the medium term to recover from the economic impact of the virus. It will also match contributions made by its employees and other donors to meet the USD 50 million target,” reads the statement. According to the bank, all the Group’s board and management team members will be making personal contributions to the fund.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:Arial">Through individual country and regional efforts, Standard Chartered has already donated USD 1.85 million to COVID-19 relief efforts to date.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:Arial">The Group has also launched initiatives to provide economic support and protect the wellbeing of customers, clients and the Group’s 84,000 employees around the world. “On 30 March, the Group announced that it is committing up to USD 1 billion </span><span style="font-family:Arial">of loans, import/export financing and working capital, at preferential rates, for companies providing goods and services to help in the fight against COVID-19, and support those re-deploying production resources to help fight the pandemic,” said the bank. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:Arial">According to the statement, companies in scope include manufacturers and distributors in the pharmaceutical industry and healthcare providers, as well as non-medical companies that have volunteered to add this capability to their manufacturing output. “Goods in scope include ventilators, face masks, protective equipment and sanitisers,” reads the statement. </span></span></span></p> <p> </p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""> </span></span></p> ', 'published' => true, 'created' => '2020-04-03', 'modified' => '2020-04-03', 'keywords' => '', 'description' => '', 'sortorder' => '11622', 'image' => '20200403035917_Standard-Chartered.jpg', 'article_date' => '2020-04-03 15:57:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 3 => array( 'Article' => array( 'id' => '11871', 'article_category_id' => '1', 'title' => 'Global Equities Attempt Rebound from Virus-fuelled Losses', 'sub_title' => '', 'summary' => 'April 3: Global equities mostly rebounded Thursday from recent coronavirus-fuelled losses, as oil rallied on hopes of an end to a Saudi-Russia price war.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Verdana">April 3: Global equities mostly rebounded Thursday from recent coronavirus-fuelled losses, as oil rallied on hopes of an end to a Saudi-Russia price war, and resurgent Chinese energy demand, AFP reported citing the dealers.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Verdana">According to the French news agency, traders were on tenterhooks before US jobless claims data, which will again lay bare the impact of COVID-19 on the world's biggest economy after dire figures last week.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Verdana">“In midday deals, the London stock market advanced 0.3 percent with energy majors BP and Shell winning almost ten percent on the back of soaring crude futures that lift profits. In the eurozone, Frankfurt added 0.4 percent, Milan won 0.8 percent and Paris gained 0.7 percent,” AFP reported.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Verdana">Oil soared more than ten percent on hopes for a US intervention to end a Saudi-Russia price war, with US President Donald Trump saying he expected the two to resolve the row, while dealers were also cheered by China's decision to snap up bargain crude.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Verdana">The European single currency meanwhile dipped versus the dollar.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Verdana">"We do appear to be seeing some gains ... on a couple of headlines that China will start topping up its state reserves, and that Saudi Arabia is supporting co-operation amongst oil producers to stabilise oil markets," AFP quoted CMC Markets analyst Michael Hewson as saying.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Verdana">"These gains are helping support rebounds in Royal Dutch Shell and BP's share price, as well as a modest stabilisation in early trading for European markets."</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Verdana">On the downside, Madrid stocks dived 1.1 percent on news that the coronavirus death toll in Spain has surged past 10,000.</span></span></span></p> <p> </p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Verdana">After two weeks of much-needed gains fuelled by trillions of dollars in stimulus and widespread monetary easing, focus has returned to the devastation wrought on populations and the long-term impact of the pandemic.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Verdana">According to AFP, US President Trump's COVID-19 task force has warned America could see almost a quarter of a million deaths and the president warned of a "horrific" couple of weeks ahead.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Verdana">His comments came as a number of countries said they would extend lockdowns, which have already gouged economies around the world, the news agency further reported.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-04-03', 'modified' => '2020-04-03', 'keywords' => '', 'description' => '', 'sortorder' => '11621', 'image' => '20200403011201_Global equities.jpg', 'article_date' => '2020-04-03 13:11:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 4 => array( 'Article' => array( 'id' => '11868', 'article_category_id' => '1', 'title' => 'Govt Allows Industries Producing Daily Essentials to Resume Operation', 'sub_title' => '', 'summary' => 'April 3: In a move to ease the crippling lockdown imposed on March 24 to stop the possible outbreak of coronavirus (COVID-19), the government has decided to allow industries producing essential goods to resume operation provided that they meet certain health criteria.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">April 3: In a move to ease the crippling lockdown imposed on March 24 to stop the possible outbreak of coronavirus (COVID-19), the government has decided to allow industries producing essential goods to resume operation provided that they meet certain health criteria.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Industries producing food stuffs and other daily essentials will be allowed to resume operation on condition that they manage all the works with residential staff. The High-Level Coordination Committee for Prevention and Control of COVID-19 took a decision to this effect on Thursday (April 2).</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Finance Minister Dr Yuba Raj Khatiwada informed that the industries will be allowed to function if they can manage residential for production and fullfill all health and safety requirements.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Dr Khatiwada, who is also the government spokesperson, said that the industries can be operated in coordination with the local units. However, such industries cannot use workers from outside. According to Dr Khatiwada, the industries will have to mobilise the local labourers. “Industries can be operated in coordination with the local levels,” he said. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Likewise, the committee also decided to resume the construction works of large development projects like Upper Tamakoshi Hydropower Project and Melamchi Water Supply Project. For this, the projects will have to assign staff who are already stationed at the project sites. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">“The local bodies will oversee to ensure that no worker from outside enter and those working inside leave the sites,” said Khatiwada. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The committee has also decided to allow harvesting of winter crop and planting of paddy seeds without bringing workers from outside and using local and family workers. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Meanwhile, the government has decided to procure medical kits and equipment from China on its own after an earlier decision to bring those materials through a private firm courted controversy.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Minister Khatiwada said that the matters related to the procurement of medical appliances and kits are under investigation. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">He further said that the process of procurement of medical supplies through tender has been scrapped after complaint of financial irregularities and now the government has began a fresh bid through G-2-G (government to government) process. </span></span></span></p> <p><br /> </p> <p> </p> ', 'published' => true, 'created' => '2020-04-03', 'modified' => '2020-04-03', 'keywords' => '', 'description' => '', 'sortorder' => '11620', 'image' => '20200403123551_unnamed.jpg', 'article_date' => '2020-04-03 12:34:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 5 => array( 'Article' => array( 'id' => '11867', 'article_category_id' => '1', 'title' => 'Six Nepalis in Forbes 30 under 30 List', 'sub_title' => '', 'summary' => 'April 3: Five entrepreneurs and a golfer from Nepal have made it to the Forbes list of 30 under 30, 2020 in Asia.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri">April 3: Five entrepreneurs and a golfer from Nepal have made it to the Forbes list of 30 under 30, 2020 in Asia. Forbes released the list on Thursday. The list includes various youths from entrepreneurship, social work and the ones who have been influencing the society. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri">The six Nepalis on this list are Golfer Pratima Sherpa, Nikita Acharya and Kiran Timsina, co-founders, Urban Girls. Shubhangi Rana and Jeselina Rana, Pad2Go. and Rohit Tiwari, co-founder, Foodmario. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri">Nikita Acharya and Kiran Timsina had established Urban Girls in 2012. The company, which started with online selling of ladies accessories, has now expanded to bakery products and accessories for men. “There were many challenges in these seven years. This news has given a lot of motivation to move forward,” says Acharya. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri">Similarly, Shubhangi Rana and Jeselina Rana started Pad2Go in 2018. Pad2Go has been creating awareness of menstrual health. The venture has installed 80 sanitary napkin vending machines in hospitals, schools, banks and cinema halls of all seven provinces. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri">Likewise, Rohit Tiwari who has been operating Foodmario has been working as a bridge between homemakers and the customers who order food through online means. Tiwari, on the one hand, has been giving a platform to the homemakers to show their skill, and on the other has been serving office goers and others with hygienic homemade food. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri">“Being listed under 30 under 30 was my dream. This has further motivated me to push myself,” said Tiwari. “We have been prioritising hygiene from the beginning and will continue to do that. We are further planning to work on the efficiency in the kitchen so that we can deliver the food faster, he said. Foodmario is also about to start its own cloud kitchen. “We will be able to work more efficiently after we start cloud kitchen,” he said. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><img alt="" src="/app/webroot/userfiles/images/new4835.jpg" style="height:173px; width:792px" /></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"> </span></span></p> ', 'published' => true, 'created' => '2020-04-03', 'modified' => '2020-04-03', 'keywords' => '', 'description' => '', 'sortorder' => '11619', 'image' => '20200403120659_593846784_o.jpg', 'article_date' => '2020-04-03 12:06:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 6 => array( 'Article' => array( 'id' => '11869', 'article_category_id' => '1', 'title' => 'Consumers Facing Difficulty to get Daily Essentials', 'sub_title' => '', 'summary' => 'April 3: Consumers have complained of difficulties in getting daily essentials due to the shortage in the market following the lockdown imposed by the government to prevent the spread of coronavirus. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">April 3: Consumers have complained of difficulties in getting daily essentials due to the shortage in the market following the lockdown imposed by the government to prevent the spread of coronavirus. </span><br /> <span style="font-family:"Arial Unicode MS"">Doma Sherpa of Mahankal in Kathmandu Metropolitan City said that they have been facing difficulty to get daily essentials including sugar, salt, rice and vegetables in the market despite looking for it in the market. Sherpa added even shopkeepers operating during morning and evening are also running out the stock of daily essentials. </span><br /> <span style="font-family:"Arial Unicode MS"">A shopkeeper Madan Shrestha said that it was challenging to bring goods from wholesale. He added it would not be a problem for him to sell goods to consumers if he gets goods for his shop. </span><br /> <span style="font-family:"Arial Unicode MS"">Though the government had announced to ask the department stores to deliver goods to the customers’ doorsteps, it has not been effective. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2020-04-03', 'modified' => '2020-04-03', 'keywords' => '', 'description' => '', 'sortorder' => '11618', 'image' => '20200403123817_Buying Yam at Ason Chock, Photo By Prakash K (1)(1).JPG', 'article_date' => '2020-04-03 12:37:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 7 => array( 'Article' => array( 'id' => '11870', 'article_category_id' => '1', 'title' => 'Coronavirus Pandemic Hits Gold and Silver Trade', 'sub_title' => '', 'summary' => 'April 3: The lockdown to contain corona pandemic has hit the gold and silver trade in the country adversely.', 'content' => '<h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">April 3: The lockdown to contain corona pandemic has hit the gold and silver trade in the country adversely. Gold and silver trade was already declining since the beginning of the current fiscal year due sharp hike in price because of the US-China trade war. However, the lockdown has completely ruined the gold and silver business, at least for the time being. </span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">Some months ago, the trade war between China and the US and the tensions between Iran and the US, led to sharp rise in the price of gold in the international market.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">Since the price of gold in Nepal is determined on the basis of the price in global market, the price of gold has been on the rise in the domestic market since last July.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">The price of one tola (approx. 11 grams) of gold which was Rs 60,000 until the first week of July rose to Rs 82,500 by mid-July last year. Currently, the price of 11 grams of gold in the domestic market is Rs 77,000. The trade of gold is declining due to rising price. </span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">The businessmen involve in gold and silver trade are worried as coronavirus pandemic has brought their business to a grinding halt.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">According to the Federation of Nepali Gold and Silver Dealers Association, there are 22,000 jewelry shops in Nepal which are currently closed. Most of these jewelry shops are operated in rented areas and the lockdown has led to loss of income of the traders and added cost burden. </span></span></h1> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">In such a situation, the gold and silver dealers are now worried about their expenses, mainly the rent and salaries of their staff members. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Tej Ratna Shakya, former president of the Federation of Nepali Gold and Silver Dealers Association, informed that the biggest concern for all the gold and silver dealers is rent and salary of their staff. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">“At present, the whole nation is under lockdown and in such a situation traders and entrepreneurs involved in gold and silvers business won’t be able to pay the rents,” he said.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">We are also worried about paying salary to the staff, he added. </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-04-03', 'modified' => '2020-04-03', 'keywords' => '', 'description' => '', 'sortorder' => '11617', 'image' => '20200403010205_jewellry (Copy).jpg', 'article_date' => '2020-04-03 13:01:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 8 => array( 'Article' => array( 'id' => '11866', 'article_category_id' => '1', 'title' => 'Government Mulls Budget Transfer and Mobilizing Foreign Aid to Cope with COVID-19 Crisis', 'sub_title' => '', 'summary' => 'April 2: The government is facing mounting challenge for resource management with the coronavirus taking heavy toll on the country’s economy. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Times">April 2: The government is facing mounting challenge for resource management with the coronavirus taking heavy toll on the country’s economy. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">On one hand, the economic activities have come to a complete halt due to the lockdown while on the other hand the government faces an uphill battle to mange resources to control the spread of the disease. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">In order to manage funds to ward off the crisis, the Ministry of Finance has resorted to budget transfer and mobilization of foreign aid.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The finance ministry has transferred Rs 850 million from one budget head to another as per the request of the Ministry of Health and Population. A highly-placed source at the finance ministry told New Business Age that the budget has been transferred from various other programmes under the health ministry.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">According to the finance ministry, it has also transferred Rs 500 million to the fund for preventing the spread of COVID-19 from other heads.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">Joint Secretary at the ministry Uttar Kumar Khatri informed that the Office of the Prime Minister and Council of Ministers has almost finalized the work procedure to utilize the fund. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">“The government will utilize the fund in accordance to the work procedure. If the budget is insufficient, the fund will be managed by transferring amount from the annual budget of the concerned ministries,” said Khatri. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">Spokesperson of Nepal Rastra Bank Gunakar Bhatta says resource management will not be a problem for the government as revenue collection, inflow of remittance and budget expenditure are taking place as expected till last month. He said that the government will start facing problems if the current problem persists for more than a month.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">“As most of the countries around the world are under lockdown, the inflow of remittance is expected to decrease and the foreign exchange reserve will also decline. The government will face problems in such a situation,” said Bhatta.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The government has already made it clear that it is ready to mobilize foreign assistance for resource management to cope with the current crisis. A meeting of the Council of Ministers held last week has given the authority to the finance ministry to hold discussions with the donor agencies to mobilize the funds for the government’s fight against coronavirus.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The finance ministry has said that the government has initiated the process to receive concessional loan of Rs 3.43 billion from the World Bank to deal with the coronavirus crisis. It has also accepted credit facility of Rs 13.09 billion from the International Monetary Fund. The finance ministry is also doing its homework to acquire US$ 60 million from the Asian Development Bank.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">Joint Secretary at the finance ministry Khatri also informed that the government is discussing about taking concessional loan from other development partners to deal with the current crisis.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The finance ministry has formed a committee to study the impact of coronavirus on Nepal’s economy but the government has not released the findings of the report yet.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">Former Finance Secretary Shanta Raj Subedi is of the view that the government should transfer the budget allocated for development works to the sectors affected by coronavirus as there is no possibility of capital expenditure at the moment.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-04-02', 'modified' => '2020-04-02', 'keywords' => '', 'description' => '', 'sortorder' => '11616', 'image' => '20200402121158_1585779198.jpg', 'article_date' => '2020-04-02 12:11:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 9 => array( 'Article' => array( 'id' => '11863', 'article_category_id' => '1', 'title' => ' Government Terminates Contract for Medical Supplies from China', 'sub_title' => '', 'summary' => 'April 2: The government has cancelled the agreement with a private company to supply medical kits from China for the prevention and control of COVID-19 pandemic. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">April 2: The government has cancelled the agreement with a private company to supply medical kits from China for the prevention and control of COVID-19 pandemic. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">Director-General of the Department of Health, Mahendra Prasad Shrestha shared at a press conference organized by the Ministry of Health and Population on Wednesday (April 1) that the agreement with Omni Business Corporate International Pvt Ltd has been terminated due to the company's inability to supply the required medical kits. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">"The company has expressed its inability to deliver the medical supplies including rapid diagnostic kits in the stipulated time," he said, claiming the agreement signed with the supplier, therefore, was nullified. </span><br /> <span style="font-family:"Arial Unicode MS"">Shrestha further shared that the contractor, as per the agreement, had only supplied 10 per cent of the required kits and drugs at an expense of 18 per cent amount. He added the government would confiscate the surety amount deposited by the contractor and also request the authority concerned to blacklist the company for not being able to supply medical drugs and appliances as agreed. </span><br /> <span style="font-family:"Arial Unicode MS"">The Director-General also admitted that the materials imported through the company during the time of crisis cost 20 percent more than normal price. It may be noted that the government on Sunday had signed the agreement with the Omni Group to purchase medical supplies used for testing and treating coronavirus. </span><br /> <span style="font-family:"Arial Unicode MS"">Shrestha shared that a new process would be initiated for the procurement of medical appliances from Thursday (April 2) again after scrapping the agreement with Omni Business Group.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS""> The ministry is preparing to import medical appliances within five days after soliciting a bid with a three-day deadline. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">"For now, we have adequate stocks," he said, adding, "We can provide sufficient medical equipment to the doctors and health workers involved in the treatment of patients". -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2020-04-02', 'modified' => '2020-04-02', 'keywords' => '', 'description' => '', 'sortorder' => '11615', 'image' => '20200402094346_singha durbar gate.JPG', 'article_date' => '2020-04-02 09:43:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 10 => array( 'Article' => array( 'id' => '11862', 'article_category_id' => '1', 'title' => ' NOC Slashes Price of Petroleum Products by 10 Percent ', 'sub_title' => '', 'summary' => 'April 1: The Nepal Oil Corporation has slashed the price of diesel, petrol and kerosene by Rs 10 per litre each effectively from Wednesday midnight.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">April 1: The Nepal Oil Corporation has slashed the price of diesel, petrol and kerosene by Rs 10 per litre each effectively from Wednesday midnight, the state-run national news agency RSS reported. </span><br /> <span style="font-family:"Arial Unicode MS"">However, the price of cooking gas remains unchanged, said NOC's spokesperson Binit Mani Upadhyaya. The price decrement follows price fall of petroleum products in the international market, RSS reported citing NOC officials. </span><br /> <span style="font-family:"Arial Unicode MS"">As per the new price adjustment, diesel and kerosene will be sold for Rs 85 per litre and petrol for Rs 96. Likewise, the price of aviation turbine fuel for domestic flights has been decreased by Rs 15 per litre to Rs 75. </span><br /> <span style="font-family:"Arial Unicode MS"">The price of aviation turbine fuel for international flights is adjusted to USD 0.95 per litre, said Upadhyaya. </span></span></span></p> ', 'published' => true, 'created' => '2020-04-01', 'modified' => '2020-04-01', 'keywords' => '', 'description' => '', 'sortorder' => '11614', 'image' => '20200401103058_petrol-2-1539134824.jpg', 'article_date' => '2020-04-01 22:30:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 11 => array( 'Article' => array( 'id' => '11864', 'article_category_id' => '1', 'title' => 'Production Comes to a Halt in Bara-Parsa Industrial Corridor', 'sub_title' => '', 'summary' => 'April 2: Production in almost all the industries in the Bara-Parsa industrial corridor have been shut down because of the absence of workers and halt in transportation due to the lockdown to prevent the coronavirus infection. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">April 2: Production in almost all the industries in the Bara-Parsa industrial corridor have been shut down because of the absence of workers and halt in transportation due to the lockdown to prevent the coronavirus infection. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Many industries could not bring the raw materials stuck at the border. Even industries that have stored raw materials could not continue production due to the absence of workers and halt in transportation. The pharmaceutical industries are open. However, other industries for emergency supplies are producing minimum quantities. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">According to Subodh Kumar Gupta, president, Association of Nepalese Rice, Oil and Pulses Industry, the lockdown has affected the production of staple food as well. “We cannot transport even 20 percent of the production,” Gupta said. He estimated that around 3,000 food industries have been affected nationwide. Among them, 2,000 are rice industries. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">“The production of construction materials has also been halted because of lack of workers and transportation. Due to lack of transportation, we cannot send the orders to our customers,” said industrialist Rajesh Kyal. The corridor has around 1,000 factories producing food supplies, animal feeds, medicines and packaging. </span> </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">The local administration has said that passes will be provided to the emergency industries. For this, a particular time has been set. According to Lalit Kumar Basnet, assistant district officer of Parsa, the workers need to reach the factory before 9 am and can leave the factory only after 6 pm. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Local security entity and industrialists had agreed to allow movement at the specific time. While motorcycles are allowed for commuting, other vehicles are not allowed. However, many workers have not been going to work due to the fear of coronavirus. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Because of limitation on timing, it is difficult to bring raw materials from the border, said Ashok Kumar Vaid, vice-president of Nepal Chamber of Commerce and Industry of Province 2. “Vehicles entering the factory at 9 am have to wait till 6 pm to leave the place,” said Vaid. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Gupta said that not only has the transportation been affected, but the materials which need to be sent outside Birgunj are also stuck at the border. As the supplies are stuck at the border, Birgunj customs office had issued a notice requesting the importer to do the custom clearance. Now, the frequency of trucks have increased comparatively. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">However, the lockdown in India has decreased the import from roadways, said Dhundi Prashad Niraula. Previously, on an average day, around 600-700 vehicles used to enter the border, but only 37 vehicles entered on Monday. Meanwhile, cargo transportation via train has increased. Currently, 2,200 containers filled with supply and 400 empty containers are stockpiled at Birgunj dry port. </span></span></span></p> <p><br /> </p> <p> </p> ', 'published' => true, 'created' => '2020-04-02', 'modified' => '2020-04-02', 'keywords' => '', 'description' => '', 'sortorder' => '11613', 'image' => '20200402100050_1585693075 copy.jpg', 'article_date' => '2020-04-02 09:57:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 12 => array( 'Article' => array( 'id' => '11858', 'article_category_id' => '1', 'title' => 'COVID-19 is Worst Crisis since World War II: UN chief ', 'sub_title' => '', 'summary' => 'April 1: UN Secretary-General Antonio Guterres warned Tuesday that the world faces the most challenging crisis since World War II.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Times">April 1: UN Secretary-General Antonio Guterres warned Tuesday that the world faces the most challenging crisis since World War II, confronting a pandemic threatening people in every country, one that will bring a recession “that probably has no parallel in the recent past”, the Associated Press reported.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">According to the news agency, the UN chief said at the launch of a report on the socioeconomic impacts of COVID-19 that there is also a risk that the combination of the disease and its economic impact will contribute to “enhanced instability, enhanced unrest, and enhanced conflict”.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">Guterres reportedly called for a much stronger and more effective global response to the coronavirus pandemic and to the social and economic devastation that COVID-19 is causing. He stressed that this will only be possible “if everybody comes together and if we forget political games and understand that it is humankind that is at stake.”</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">“We are facing a global health crisis unlike any in the 75-year history of the United Nations — one that is killing people, spreading human suffering, and upending people’s lives,” the report said. “But this is much more than a health crisis. It is a human crisis. The coronavirus disease (COVID-19) is attacking societies at their core.”</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">According to AP, the secretary-general told reporters that the magnitude of the response must match the scale of the crisis — large-scale, coordinated and comprehensive, with country and international responses being guided by the World Health Organization.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">He further said that many countries were not respecting WHO guidelines, with each tending to go its own way in dealing with the pandemic.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">“Let us remember that we are only as strong as the weakest health system in our interconnected world,” he said. “It is essential that developed countries immediately assist those less developed to bolster their health systems and their response capacity to stop transmission,” AP quoted him as saying.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">According to the UN Secretary-General, while $5 trillion has been mobilized, most of that money was by the developed world — including $2 trillion in the United States — to support their own economies from the consequences of the pandemic.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">“We are far from having a global package to help the developing world to create the conditions both to suppress the disease and to address the dramatic consequences in their populations, in the people that lost their jobs, the small companies that are operating and risk to disappear, those that live with the informal economy that now have no chance to survive,” he said. “Massive support to the developing world is still required.”</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">According to AP, the report also cites International Labor Organization estimates for 2020 that between 5 million and 25 million jobs will be lost, with a corresponding loss of between $860 million and $3.4 trillion in labor income. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">It also cited an estimate by the U.N. trade and development organization UNCTAD of a 30-40 percent “downward pressure" on global foreign direct investment flows this year.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">Guterres announced the establishment of a COVID-19 Response and Recovery Fund to support efforts in low- and middle-income countries, with the aim of swiftly enabling governments to tackle the crisis and promote recovery.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-04-01', 'modified' => '2020-04-01', 'keywords' => '', 'description' => '', 'sortorder' => '11612', 'image' => '20200401114957_NICA-768874-Guterres.jpg', 'article_date' => '2020-04-01 11:48:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 13 => array( 'Article' => array( 'id' => '11861', 'article_category_id' => '1', 'title' => 'Nepal Gas Industry Distributing LPGs ', 'sub_title' => '', 'summary' => 'April 1: The Nepal Gas Industry (NGI) is preparing to distribute liquefied petroleum gas (LPG) from Wednesday at six various locations.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Arial">April 1: The Nepal Gas Industry (NGI) is preparing to distribute liquefied petroleum gas (LPG) from Wednesday at six various locations.</span><br /> <span style="font-family:Arial">The company said in a statement that it will distribute the LPG from six new locations instead from Balaju Industrial Estate. The company said it decided to decentralize its distribution centres to address the problems of the consumers, who have been complaining of difficulty in refilling their cylinders due to the lockdown imposed by the government.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Arial">Gokul Bhandari, executive director of Nepal Gas Industry, informed that the company will distribute LPGs for three consecutive days from six different location in Kathmandu.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Arial">“Considering the current crisis caused by coronavirus, consumers are not able to collect the LPGs from our main distribution center. That’s why we are distributing it from six various locations,” he informed. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Arial">He said that the company will distribute 560 LPG cylinders from two locations every day.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Arial">The company will distribute the LPGs under the supervision of Nepal Police. The LPGs were distributed at Chabahil and Bafal on Wednesday, and the company plans to distribute them at Baniyatar and Koteshwar on Thursday and Bhanimandal and Maharajgunj on Friday. -- RSS</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-04-01', 'modified' => '2020-04-01', 'keywords' => '', 'description' => '', 'sortorder' => '11611', 'image' => '20200401060730_1585670358.jpg', 'article_date' => '2020-04-01 18:06:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 14 => array( 'Article' => array( 'id' => '11865', 'article_category_id' => '1', 'title' => 'Food Supplies Distributed to Deprived Families ', 'sub_title' => '', 'summary' => 'April 2: Surkhet Chamber of Commerce and Industries has distributed food supplies to deprived families of Ward no 4 and 6 of Birendranagar. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Mangal","serif"">April 2: Surkhet Chamber of Commerce and Industries has distributed food supplies to deprived families of Ward no 4 and 6 of Birendranagar. Laxman Kadel, general secretary of Surkhet Chamber of Commerce and Industries said that the food supply was distributed to the family members of local labors who were hard hit by the lockdown imposed by the government to prevent the spread of coronavirus.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Mangal","serif"">Food supplies worth Rs 80,000, and total of Rs 50,500 cash were distributed among the family members of the labourers. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-04-02', 'modified' => '2020-04-02', 'keywords' => '', 'description' => '', 'sortorder' => '11610', 'image' => '20200402113737_1585713561.jpg', 'article_date' => '2020-04-02 11:36:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ) ) $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' => '11874', 'article_category_id' => '1', 'title' => 'ADB Forecasts 5.3% Economic Growth for Nepal in 2020', 'sub_title' => '', 'summary' => 'April 4: The coronavirus (COVID-19) pandemic-induced crisis is expected to decelerate Nepal’s economic growth to 5.3 percent (at market prices) in the fiscal year 2020, down from 7.1 percent a year earlier, according to the latest report published by the Asian Development Bank (ADB). ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Segoe UI","sans-serif"">April 4: The coronavirus (COVID-19) pandemic-induced crisis is expected to decelerate Nepal’s economic growth to 5.3 percent (at market prices) in the fiscal year 2020, down from 7.1 percent a year earlier, according to the latest report published by the Asian Development Bank (ADB). The Manila-based lender in its annual flagship publication the Asian Development Outlook (ADO) 2020 projects Nepal’s GDP to recover at 6.4 percent for FY2021, assuming a quick end to the COVID-19 pandemic, a return to pre-COVID economic activities, and a normal monsoon. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Segoe UI","sans-serif"">“The government of Nepal expects a couple of large infrastructure projects, namely the 456-megawatt Upper Tamakoshi Hydroelectric Plant and Gautam Buddha International Airport, to be commercially operational by FY2021. Expectation of higher subnational level spending will also stimulate growth,” ADB said in a press statement. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Segoe UI","sans-serif"">“The global outbreak of the COVID-19 pandemic and subsequent nationwide lockdown that is necessary to contain the contagion will adversely affect the country’s economy,” the statement quoted ADB Country Director for Nepal Mukhtor Khamudkhanov as saying. According to him, industry and services face supply disruptions, and remittances will likely decline during the last quarter of this fiscal year, dampening domestic demand. “Growth will also be slower as a result of lower rice production. If the situation due to the COVID-19 pandemic further worsens, growth in FY2020 could be lower than currently anticipated growth,” he said. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Segoe UI","sans-serif"">Similarly, in its Nepal Macroeconomic Update, which was released on the same day ADO 2020 was published (April 3), ADB has stated that average annual inflation will inch up to 6 percent in FY2020, up from 4.6 percent a year earlier, reflecting lower production and supply chain disruptions due to the COVID-19 pandemic. According to the report, headline inflation has averaged 6.5 percent in the first seven months of FY2020, significantly higher than 4.2 percent a year earlier. “Food inflation increased by 9.8 percent as of mid-February 2020 compared to a year earlier, with significant increase in the prices of vegetables, spices, and alcoholic beverages. The temporary closure of international borders over COVID-19 concern has nudged up food prices. The average annual inflation for FY2020 could be higher than anticipated if the situation further worsens due to the COVID-19 pandemic,” says the report.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Segoe UI","sans-serif"">According to ADB, merchandise trade deficit narrowed by 4.9 percent year-on-year in the first seven months of FY2020 after widening by 15 percent in the year-earlier period. The deficit contracted on higher export growth, particularly of palm oil and cardamom to India and reduced import of construction materials, vehicles, and petroleum products. The improved trade balance has helped contain current account deficit to USD1 billion in the fiscal year through mid-February 2020 from USD 1.5 billion in the corresponding period a year earlier. The deficit is forecast to narrow from 7.7 percent of GDP in FY2019 to 5.4 percent on shrinking imports of petroleum products, capital, and consumer goods. However, ADB has expected it could be higher if remittances fall substantially in the last quarter of FY2020 </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Segoe UI","sans-serif"">According to the Nepal Macroeconomic Update, average annual inflation will stay moderate at 5.5 percent in FY2021, assuming a reversal to normal activities after the COVID-19 disruption, better harvest, subdued oil prices, and a modest uptick of inflation in India. “The current account deficit is expected to widen from 5 percent of GDP in FY2020 to 5.6 percent as imports of capital goods increase. The deficit will, however, be largely contained by lower oil prices, a gradual reduction in the import of fossil fuel with better electricity supply, and higher hydroelectricity exports to India, according to the report,” reads the report. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Segoe UI","sans-serif"">ADB said that downside risks to the outlook in FY2021 are the pervasiveness of the COVID-19 pandemic that could paralyze the economy if the outbreak persists. It warned against natural hazards like erratic monsoons and flood could depress farm output and damage infrastructure. “Persistent capacity deficiencies regarding project and program execution at the provincial and local levels will weaken subnational spending. Exogenous shocks such as the COVID-19 pandemic will weaken global demand, affecting out-migration for foreign employment and putting pressure on Nepal’s external stability,” reads the statement. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-04-04', 'modified' => '2020-04-04', 'keywords' => '', 'description' => '', 'sortorder' => '11624', 'image' => '20200404094739_82fecd1.jpeg', 'article_date' => '2020-04-04 09:46:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 1 => array( 'Article' => array( 'id' => '11873', 'article_category_id' => '1', 'title' => 'Banks Contribute Rs 254 Million for Fight Against COVID-19', 'sub_title' => '', 'summary' => 'April 3: Commercial and development banks have started donating money to the fund set up by the government in an effort to minimize the impact of the coronavirus pandemic. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">April 3: Commercial and development banks have started donating money to the fund set up by the government in an effort to minimize the impact of the coronavirus pandemic .</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">The banks have started voluntarily contributing to the cause after the government imposed a nationwide lockdown on March 24 to contain the spread of the pandemic. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">As of Thursday (April 2), around Rs 2 billion has been collected in the fund. The contribution of 27 A-class commercial banks alone stands at Rs 254 million, according to Nepal Bankers’ Association.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">Meanwhile, Rastriya Banijya Bank has contributed Rs 18.5 million while Nepal Bank Limited has contributed Rs 13.5 million. Agriculture Development Bank has deposited Rs 16 million in the fund.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">Other banks who have contributed to the fund include NMB Bank (Rs 15.1 million), Global IME Bank (Rs11.5 million), Bank of Kathmandu (Rs10.5 million), Citizens Bank (Rs 5 million), Century Bank (Rs 8.5 million), Civil Bank (Rs 7.8 million), Himalayan Bank (Rs 12.5 million), Kumari Bank (Rs 7 million), Laxmi Bank (Rs 10 million), Machhapuchhre Bank (Rs 10.06 million), Mega Bank (Rs 13.5 million), NCC Bank (Rs 10 million), Nepal Bangladesh Bank (Rs 14.5 million), Nepal SBI Bank (Rs 10 million), Nepal Investment Bank (Rs 10 million), Prabhu Bank (Rs 10.1 million), Prime Bank (Rs 17.5 million), Sanima Bank (Rs 16.8 million) and Siddhartha Bank (Rs 8.5 million). </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">Meanwhile, Standard Chartered Bank, Sunrise Bank, NIC Asia Bank, Nabil Bank and Everest Bank are said to be holding internal discussion about contributing to the fund. All of these banks have pledged to support the government initiative.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">The fund collected around Rs 1 billion on Thursday alone. According to the Office of the Prime Minister and Council of Ministers (OPMCM), the fund has received around Rs 2 billion from generous contributors.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">The government had set up the fund on March 24 with an initial contribution of Rs 500 million to provide relief to the sectors affected by coronavirus. Spokesperson at the OPMCM Rajendra Kumar Poudel informed that the fund is receiving more contributions day by day.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">Finance Minister Yuba Raj Khatiwada informed that the transactions of the fund will be transparent as the government has already formed a work procedure to mobilise the fund.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">It has been learnt that the fund will be basically used to procure medicines and equipment for coronavirus and for free treatment of the patients.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-04-03', 'modified' => '2020-04-03', 'keywords' => '', 'description' => '', 'sortorder' => '11623', 'image' => '20200403045712_20200205110120_nw.jpg', 'article_date' => '2020-04-03 16:56:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 2 => array( 'Article' => array( 'id' => '11872', 'article_category_id' => '1', 'title' => 'StanChart Announces USD 50m COVID-19 Assistance Fund', 'sub_title' => '', 'summary' => 'April 3: The British multinational banking and financial services company Standard Chartered Group has launched a USD 50 million global fund to provide assistance to those affected by the coronavirus (COVID-19) pandemic. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:Arial">April 3: The British multinational banking and financial services company Standard Chartered Group has launched a USD 50 million global fund to provide assistance to those affected by the coronavirus (COVID-19) pandemic. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:Arial">Issuing a press statement, Standard Chartered said that the Group will immediately donate USD 25 million to support emergency relief in the most affected markets. “The additional USD 25 million will help communities over the medium term to recover from the economic impact of the virus. It will also match contributions made by its employees and other donors to meet the USD 50 million target,” reads the statement. According to the bank, all the Group’s board and management team members will be making personal contributions to the fund.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:Arial">Through individual country and regional efforts, Standard Chartered has already donated USD 1.85 million to COVID-19 relief efforts to date.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:Arial">The Group has also launched initiatives to provide economic support and protect the wellbeing of customers, clients and the Group’s 84,000 employees around the world. “On 30 March, the Group announced that it is committing up to USD 1 billion </span><span style="font-family:Arial">of loans, import/export financing and working capital, at preferential rates, for companies providing goods and services to help in the fight against COVID-19, and support those re-deploying production resources to help fight the pandemic,” said the bank. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:Arial">According to the statement, companies in scope include manufacturers and distributors in the pharmaceutical industry and healthcare providers, as well as non-medical companies that have volunteered to add this capability to their manufacturing output. “Goods in scope include ventilators, face masks, protective equipment and sanitisers,” reads the statement. </span></span></span></p> <p> </p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""> </span></span></p> ', 'published' => true, 'created' => '2020-04-03', 'modified' => '2020-04-03', 'keywords' => '', 'description' => '', 'sortorder' => '11622', 'image' => '20200403035917_Standard-Chartered.jpg', 'article_date' => '2020-04-03 15:57:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 3 => array( 'Article' => array( 'id' => '11871', 'article_category_id' => '1', 'title' => 'Global Equities Attempt Rebound from Virus-fuelled Losses', 'sub_title' => '', 'summary' => 'April 3: Global equities mostly rebounded Thursday from recent coronavirus-fuelled losses, as oil rallied on hopes of an end to a Saudi-Russia price war.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Verdana">April 3: Global equities mostly rebounded Thursday from recent coronavirus-fuelled losses, as oil rallied on hopes of an end to a Saudi-Russia price war, and resurgent Chinese energy demand, AFP reported citing the dealers.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Verdana">According to the French news agency, traders were on tenterhooks before US jobless claims data, which will again lay bare the impact of COVID-19 on the world's biggest economy after dire figures last week.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Verdana">“In midday deals, the London stock market advanced 0.3 percent with energy majors BP and Shell winning almost ten percent on the back of soaring crude futures that lift profits. In the eurozone, Frankfurt added 0.4 percent, Milan won 0.8 percent and Paris gained 0.7 percent,” AFP reported.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Verdana">Oil soared more than ten percent on hopes for a US intervention to end a Saudi-Russia price war, with US President Donald Trump saying he expected the two to resolve the row, while dealers were also cheered by China's decision to snap up bargain crude.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Verdana">The European single currency meanwhile dipped versus the dollar.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Verdana">"We do appear to be seeing some gains ... on a couple of headlines that China will start topping up its state reserves, and that Saudi Arabia is supporting co-operation amongst oil producers to stabilise oil markets," AFP quoted CMC Markets analyst Michael Hewson as saying.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Verdana">"These gains are helping support rebounds in Royal Dutch Shell and BP's share price, as well as a modest stabilisation in early trading for European markets."</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Verdana">On the downside, Madrid stocks dived 1.1 percent on news that the coronavirus death toll in Spain has surged past 10,000.</span></span></span></p> <p> </p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Verdana">After two weeks of much-needed gains fuelled by trillions of dollars in stimulus and widespread monetary easing, focus has returned to the devastation wrought on populations and the long-term impact of the pandemic.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Verdana">According to AFP, US President Trump's COVID-19 task force has warned America could see almost a quarter of a million deaths and the president warned of a "horrific" couple of weeks ahead.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Verdana">His comments came as a number of countries said they would extend lockdowns, which have already gouged economies around the world, the news agency further reported.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-04-03', 'modified' => '2020-04-03', 'keywords' => '', 'description' => '', 'sortorder' => '11621', 'image' => '20200403011201_Global equities.jpg', 'article_date' => '2020-04-03 13:11:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 4 => array( 'Article' => array( 'id' => '11868', 'article_category_id' => '1', 'title' => 'Govt Allows Industries Producing Daily Essentials to Resume Operation', 'sub_title' => '', 'summary' => 'April 3: In a move to ease the crippling lockdown imposed on March 24 to stop the possible outbreak of coronavirus (COVID-19), the government has decided to allow industries producing essential goods to resume operation provided that they meet certain health criteria.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">April 3: In a move to ease the crippling lockdown imposed on March 24 to stop the possible outbreak of coronavirus (COVID-19), the government has decided to allow industries producing essential goods to resume operation provided that they meet certain health criteria.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Industries producing food stuffs and other daily essentials will be allowed to resume operation on condition that they manage all the works with residential staff. The High-Level Coordination Committee for Prevention and Control of COVID-19 took a decision to this effect on Thursday (April 2).</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Finance Minister Dr Yuba Raj Khatiwada informed that the industries will be allowed to function if they can manage residential for production and fullfill all health and safety requirements.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Dr Khatiwada, who is also the government spokesperson, said that the industries can be operated in coordination with the local units. However, such industries cannot use workers from outside. According to Dr Khatiwada, the industries will have to mobilise the local labourers. “Industries can be operated in coordination with the local levels,” he said. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Likewise, the committee also decided to resume the construction works of large development projects like Upper Tamakoshi Hydropower Project and Melamchi Water Supply Project. For this, the projects will have to assign staff who are already stationed at the project sites. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">“The local bodies will oversee to ensure that no worker from outside enter and those working inside leave the sites,” said Khatiwada. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The committee has also decided to allow harvesting of winter crop and planting of paddy seeds without bringing workers from outside and using local and family workers. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Meanwhile, the government has decided to procure medical kits and equipment from China on its own after an earlier decision to bring those materials through a private firm courted controversy.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Minister Khatiwada said that the matters related to the procurement of medical appliances and kits are under investigation. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">He further said that the process of procurement of medical supplies through tender has been scrapped after complaint of financial irregularities and now the government has began a fresh bid through G-2-G (government to government) process. </span></span></span></p> <p><br /> </p> <p> </p> ', 'published' => true, 'created' => '2020-04-03', 'modified' => '2020-04-03', 'keywords' => '', 'description' => '', 'sortorder' => '11620', 'image' => '20200403123551_unnamed.jpg', 'article_date' => '2020-04-03 12:34:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 5 => array( 'Article' => array( 'id' => '11867', 'article_category_id' => '1', 'title' => 'Six Nepalis in Forbes 30 under 30 List', 'sub_title' => '', 'summary' => 'April 3: Five entrepreneurs and a golfer from Nepal have made it to the Forbes list of 30 under 30, 2020 in Asia.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri">April 3: Five entrepreneurs and a golfer from Nepal have made it to the Forbes list of 30 under 30, 2020 in Asia. Forbes released the list on Thursday. The list includes various youths from entrepreneurship, social work and the ones who have been influencing the society. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri">The six Nepalis on this list are Golfer Pratima Sherpa, Nikita Acharya and Kiran Timsina, co-founders, Urban Girls. Shubhangi Rana and Jeselina Rana, Pad2Go. and Rohit Tiwari, co-founder, Foodmario. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri">Nikita Acharya and Kiran Timsina had established Urban Girls in 2012. The company, which started with online selling of ladies accessories, has now expanded to bakery products and accessories for men. “There were many challenges in these seven years. This news has given a lot of motivation to move forward,” says Acharya. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri">Similarly, Shubhangi Rana and Jeselina Rana started Pad2Go in 2018. Pad2Go has been creating awareness of menstrual health. The venture has installed 80 sanitary napkin vending machines in hospitals, schools, banks and cinema halls of all seven provinces. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri">Likewise, Rohit Tiwari who has been operating Foodmario has been working as a bridge between homemakers and the customers who order food through online means. Tiwari, on the one hand, has been giving a platform to the homemakers to show their skill, and on the other has been serving office goers and others with hygienic homemade food. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri">“Being listed under 30 under 30 was my dream. This has further motivated me to push myself,” said Tiwari. “We have been prioritising hygiene from the beginning and will continue to do that. We are further planning to work on the efficiency in the kitchen so that we can deliver the food faster, he said. Foodmario is also about to start its own cloud kitchen. “We will be able to work more efficiently after we start cloud kitchen,” he said. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><img alt="" src="/app/webroot/userfiles/images/new4835.jpg" style="height:173px; width:792px" /></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"> </span></span></p> ', 'published' => true, 'created' => '2020-04-03', 'modified' => '2020-04-03', 'keywords' => '', 'description' => '', 'sortorder' => '11619', 'image' => '20200403120659_593846784_o.jpg', 'article_date' => '2020-04-03 12:06:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 6 => array( 'Article' => array( 'id' => '11869', 'article_category_id' => '1', 'title' => 'Consumers Facing Difficulty to get Daily Essentials', 'sub_title' => '', 'summary' => 'April 3: Consumers have complained of difficulties in getting daily essentials due to the shortage in the market following the lockdown imposed by the government to prevent the spread of coronavirus. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">April 3: Consumers have complained of difficulties in getting daily essentials due to the shortage in the market following the lockdown imposed by the government to prevent the spread of coronavirus. </span><br /> <span style="font-family:"Arial Unicode MS"">Doma Sherpa of Mahankal in Kathmandu Metropolitan City said that they have been facing difficulty to get daily essentials including sugar, salt, rice and vegetables in the market despite looking for it in the market. Sherpa added even shopkeepers operating during morning and evening are also running out the stock of daily essentials. </span><br /> <span style="font-family:"Arial Unicode MS"">A shopkeeper Madan Shrestha said that it was challenging to bring goods from wholesale. He added it would not be a problem for him to sell goods to consumers if he gets goods for his shop. </span><br /> <span style="font-family:"Arial Unicode MS"">Though the government had announced to ask the department stores to deliver goods to the customers’ doorsteps, it has not been effective. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2020-04-03', 'modified' => '2020-04-03', 'keywords' => '', 'description' => '', 'sortorder' => '11618', 'image' => '20200403123817_Buying Yam at Ason Chock, Photo By Prakash K (1)(1).JPG', 'article_date' => '2020-04-03 12:37:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 7 => array( 'Article' => array( 'id' => '11870', 'article_category_id' => '1', 'title' => 'Coronavirus Pandemic Hits Gold and Silver Trade', 'sub_title' => '', 'summary' => 'April 3: The lockdown to contain corona pandemic has hit the gold and silver trade in the country adversely.', 'content' => '<h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">April 3: The lockdown to contain corona pandemic has hit the gold and silver trade in the country adversely. Gold and silver trade was already declining since the beginning of the current fiscal year due sharp hike in price because of the US-China trade war. However, the lockdown has completely ruined the gold and silver business, at least for the time being. </span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">Some months ago, the trade war between China and the US and the tensions between Iran and the US, led to sharp rise in the price of gold in the international market.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">Since the price of gold in Nepal is determined on the basis of the price in global market, the price of gold has been on the rise in the domestic market since last July.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">The price of one tola (approx. 11 grams) of gold which was Rs 60,000 until the first week of July rose to Rs 82,500 by mid-July last year. Currently, the price of 11 grams of gold in the domestic market is Rs 77,000. The trade of gold is declining due to rising price. </span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">The businessmen involve in gold and silver trade are worried as coronavirus pandemic has brought their business to a grinding halt.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">According to the Federation of Nepali Gold and Silver Dealers Association, there are 22,000 jewelry shops in Nepal which are currently closed. Most of these jewelry shops are operated in rented areas and the lockdown has led to loss of income of the traders and added cost burden. </span></span></h1> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">In such a situation, the gold and silver dealers are now worried about their expenses, mainly the rent and salaries of their staff members. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Tej Ratna Shakya, former president of the Federation of Nepali Gold and Silver Dealers Association, informed that the biggest concern for all the gold and silver dealers is rent and salary of their staff. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">“At present, the whole nation is under lockdown and in such a situation traders and entrepreneurs involved in gold and silvers business won’t be able to pay the rents,” he said.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">We are also worried about paying salary to the staff, he added. </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-04-03', 'modified' => '2020-04-03', 'keywords' => '', 'description' => '', 'sortorder' => '11617', 'image' => '20200403010205_jewellry (Copy).jpg', 'article_date' => '2020-04-03 13:01:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 8 => array( 'Article' => array( 'id' => '11866', 'article_category_id' => '1', 'title' => 'Government Mulls Budget Transfer and Mobilizing Foreign Aid to Cope with COVID-19 Crisis', 'sub_title' => '', 'summary' => 'April 2: The government is facing mounting challenge for resource management with the coronavirus taking heavy toll on the country’s economy. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Times">April 2: The government is facing mounting challenge for resource management with the coronavirus taking heavy toll on the country’s economy. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">On one hand, the economic activities have come to a complete halt due to the lockdown while on the other hand the government faces an uphill battle to mange resources to control the spread of the disease. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">In order to manage funds to ward off the crisis, the Ministry of Finance has resorted to budget transfer and mobilization of foreign aid.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The finance ministry has transferred Rs 850 million from one budget head to another as per the request of the Ministry of Health and Population. A highly-placed source at the finance ministry told New Business Age that the budget has been transferred from various other programmes under the health ministry.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">According to the finance ministry, it has also transferred Rs 500 million to the fund for preventing the spread of COVID-19 from other heads.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">Joint Secretary at the ministry Uttar Kumar Khatri informed that the Office of the Prime Minister and Council of Ministers has almost finalized the work procedure to utilize the fund. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">“The government will utilize the fund in accordance to the work procedure. If the budget is insufficient, the fund will be managed by transferring amount from the annual budget of the concerned ministries,” said Khatri. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">Spokesperson of Nepal Rastra Bank Gunakar Bhatta says resource management will not be a problem for the government as revenue collection, inflow of remittance and budget expenditure are taking place as expected till last month. He said that the government will start facing problems if the current problem persists for more than a month.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">“As most of the countries around the world are under lockdown, the inflow of remittance is expected to decrease and the foreign exchange reserve will also decline. The government will face problems in such a situation,” said Bhatta.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The government has already made it clear that it is ready to mobilize foreign assistance for resource management to cope with the current crisis. A meeting of the Council of Ministers held last week has given the authority to the finance ministry to hold discussions with the donor agencies to mobilize the funds for the government’s fight against coronavirus.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The finance ministry has said that the government has initiated the process to receive concessional loan of Rs 3.43 billion from the World Bank to deal with the coronavirus crisis. It has also accepted credit facility of Rs 13.09 billion from the International Monetary Fund. The finance ministry is also doing its homework to acquire US$ 60 million from the Asian Development Bank.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">Joint Secretary at the finance ministry Khatri also informed that the government is discussing about taking concessional loan from other development partners to deal with the current crisis.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The finance ministry has formed a committee to study the impact of coronavirus on Nepal’s economy but the government has not released the findings of the report yet.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">Former Finance Secretary Shanta Raj Subedi is of the view that the government should transfer the budget allocated for development works to the sectors affected by coronavirus as there is no possibility of capital expenditure at the moment.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-04-02', 'modified' => '2020-04-02', 'keywords' => '', 'description' => '', 'sortorder' => '11616', 'image' => '20200402121158_1585779198.jpg', 'article_date' => '2020-04-02 12:11:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 9 => array( 'Article' => array( 'id' => '11863', 'article_category_id' => '1', 'title' => ' Government Terminates Contract for Medical Supplies from China', 'sub_title' => '', 'summary' => 'April 2: The government has cancelled the agreement with a private company to supply medical kits from China for the prevention and control of COVID-19 pandemic. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">April 2: The government has cancelled the agreement with a private company to supply medical kits from China for the prevention and control of COVID-19 pandemic. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">Director-General of the Department of Health, Mahendra Prasad Shrestha shared at a press conference organized by the Ministry of Health and Population on Wednesday (April 1) that the agreement with Omni Business Corporate International Pvt Ltd has been terminated due to the company's inability to supply the required medical kits. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">"The company has expressed its inability to deliver the medical supplies including rapid diagnostic kits in the stipulated time," he said, claiming the agreement signed with the supplier, therefore, was nullified. </span><br /> <span style="font-family:"Arial Unicode MS"">Shrestha further shared that the contractor, as per the agreement, had only supplied 10 per cent of the required kits and drugs at an expense of 18 per cent amount. He added the government would confiscate the surety amount deposited by the contractor and also request the authority concerned to blacklist the company for not being able to supply medical drugs and appliances as agreed. </span><br /> <span style="font-family:"Arial Unicode MS"">The Director-General also admitted that the materials imported through the company during the time of crisis cost 20 percent more than normal price. It may be noted that the government on Sunday had signed the agreement with the Omni Group to purchase medical supplies used for testing and treating coronavirus. </span><br /> <span style="font-family:"Arial Unicode MS"">Shrestha shared that a new process would be initiated for the procurement of medical appliances from Thursday (April 2) again after scrapping the agreement with Omni Business Group.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS""> The ministry is preparing to import medical appliances within five days after soliciting a bid with a three-day deadline. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">"For now, we have adequate stocks," he said, adding, "We can provide sufficient medical equipment to the doctors and health workers involved in the treatment of patients". -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2020-04-02', 'modified' => '2020-04-02', 'keywords' => '', 'description' => '', 'sortorder' => '11615', 'image' => '20200402094346_singha durbar gate.JPG', 'article_date' => '2020-04-02 09:43:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 10 => array( 'Article' => array( 'id' => '11862', 'article_category_id' => '1', 'title' => ' NOC Slashes Price of Petroleum Products by 10 Percent ', 'sub_title' => '', 'summary' => 'April 1: The Nepal Oil Corporation has slashed the price of diesel, petrol and kerosene by Rs 10 per litre each effectively from Wednesday midnight.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">April 1: The Nepal Oil Corporation has slashed the price of diesel, petrol and kerosene by Rs 10 per litre each effectively from Wednesday midnight, the state-run national news agency RSS reported. </span><br /> <span style="font-family:"Arial Unicode MS"">However, the price of cooking gas remains unchanged, said NOC's spokesperson Binit Mani Upadhyaya. The price decrement follows price fall of petroleum products in the international market, RSS reported citing NOC officials. </span><br /> <span style="font-family:"Arial Unicode MS"">As per the new price adjustment, diesel and kerosene will be sold for Rs 85 per litre and petrol for Rs 96. Likewise, the price of aviation turbine fuel for domestic flights has been decreased by Rs 15 per litre to Rs 75. </span><br /> <span style="font-family:"Arial Unicode MS"">The price of aviation turbine fuel for international flights is adjusted to USD 0.95 per litre, said Upadhyaya. </span></span></span></p> ', 'published' => true, 'created' => '2020-04-01', 'modified' => '2020-04-01', 'keywords' => '', 'description' => '', 'sortorder' => '11614', 'image' => '20200401103058_petrol-2-1539134824.jpg', 'article_date' => '2020-04-01 22:30:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 11 => array( 'Article' => array( 'id' => '11864', 'article_category_id' => '1', 'title' => 'Production Comes to a Halt in Bara-Parsa Industrial Corridor', 'sub_title' => '', 'summary' => 'April 2: Production in almost all the industries in the Bara-Parsa industrial corridor have been shut down because of the absence of workers and halt in transportation due to the lockdown to prevent the coronavirus infection. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">April 2: Production in almost all the industries in the Bara-Parsa industrial corridor have been shut down because of the absence of workers and halt in transportation due to the lockdown to prevent the coronavirus infection. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Many industries could not bring the raw materials stuck at the border. Even industries that have stored raw materials could not continue production due to the absence of workers and halt in transportation. The pharmaceutical industries are open. However, other industries for emergency supplies are producing minimum quantities. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">According to Subodh Kumar Gupta, president, Association of Nepalese Rice, Oil and Pulses Industry, the lockdown has affected the production of staple food as well. “We cannot transport even 20 percent of the production,” Gupta said. He estimated that around 3,000 food industries have been affected nationwide. Among them, 2,000 are rice industries. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">“The production of construction materials has also been halted because of lack of workers and transportation. Due to lack of transportation, we cannot send the orders to our customers,” said industrialist Rajesh Kyal. The corridor has around 1,000 factories producing food supplies, animal feeds, medicines and packaging. </span> </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">The local administration has said that passes will be provided to the emergency industries. For this, a particular time has been set. According to Lalit Kumar Basnet, assistant district officer of Parsa, the workers need to reach the factory before 9 am and can leave the factory only after 6 pm. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Local security entity and industrialists had agreed to allow movement at the specific time. While motorcycles are allowed for commuting, other vehicles are not allowed. However, many workers have not been going to work due to the fear of coronavirus. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Because of limitation on timing, it is difficult to bring raw materials from the border, said Ashok Kumar Vaid, vice-president of Nepal Chamber of Commerce and Industry of Province 2. “Vehicles entering the factory at 9 am have to wait till 6 pm to leave the place,” said Vaid. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Gupta said that not only has the transportation been affected, but the materials which need to be sent outside Birgunj are also stuck at the border. As the supplies are stuck at the border, Birgunj customs office had issued a notice requesting the importer to do the custom clearance. Now, the frequency of trucks have increased comparatively. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">However, the lockdown in India has decreased the import from roadways, said Dhundi Prashad Niraula. Previously, on an average day, around 600-700 vehicles used to enter the border, but only 37 vehicles entered on Monday. Meanwhile, cargo transportation via train has increased. Currently, 2,200 containers filled with supply and 400 empty containers are stockpiled at Birgunj dry port. </span></span></span></p> <p><br /> </p> <p> </p> ', 'published' => true, 'created' => '2020-04-02', 'modified' => '2020-04-02', 'keywords' => '', 'description' => '', 'sortorder' => '11613', 'image' => '20200402100050_1585693075 copy.jpg', 'article_date' => '2020-04-02 09:57:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 12 => array( 'Article' => array( 'id' => '11858', 'article_category_id' => '1', 'title' => 'COVID-19 is Worst Crisis since World War II: UN chief ', 'sub_title' => '', 'summary' => 'April 1: UN Secretary-General Antonio Guterres warned Tuesday that the world faces the most challenging crisis since World War II.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Times">April 1: UN Secretary-General Antonio Guterres warned Tuesday that the world faces the most challenging crisis since World War II, confronting a pandemic threatening people in every country, one that will bring a recession “that probably has no parallel in the recent past”, the Associated Press reported.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">According to the news agency, the UN chief said at the launch of a report on the socioeconomic impacts of COVID-19 that there is also a risk that the combination of the disease and its economic impact will contribute to “enhanced instability, enhanced unrest, and enhanced conflict”.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">Guterres reportedly called for a much stronger and more effective global response to the coronavirus pandemic and to the social and economic devastation that COVID-19 is causing. He stressed that this will only be possible “if everybody comes together and if we forget political games and understand that it is humankind that is at stake.”</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">“We are facing a global health crisis unlike any in the 75-year history of the United Nations — one that is killing people, spreading human suffering, and upending people’s lives,” the report said. “But this is much more than a health crisis. It is a human crisis. The coronavirus disease (COVID-19) is attacking societies at their core.”</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">According to AP, the secretary-general told reporters that the magnitude of the response must match the scale of the crisis — large-scale, coordinated and comprehensive, with country and international responses being guided by the World Health Organization.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">He further said that many countries were not respecting WHO guidelines, with each tending to go its own way in dealing with the pandemic.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">“Let us remember that we are only as strong as the weakest health system in our interconnected world,” he said. “It is essential that developed countries immediately assist those less developed to bolster their health systems and their response capacity to stop transmission,” AP quoted him as saying.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">According to the UN Secretary-General, while $5 trillion has been mobilized, most of that money was by the developed world — including $2 trillion in the United States — to support their own economies from the consequences of the pandemic.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">“We are far from having a global package to help the developing world to create the conditions both to suppress the disease and to address the dramatic consequences in their populations, in the people that lost their jobs, the small companies that are operating and risk to disappear, those that live with the informal economy that now have no chance to survive,” he said. “Massive support to the developing world is still required.”</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">According to AP, the report also cites International Labor Organization estimates for 2020 that between 5 million and 25 million jobs will be lost, with a corresponding loss of between $860 million and $3.4 trillion in labor income. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">It also cited an estimate by the U.N. trade and development organization UNCTAD of a 30-40 percent “downward pressure" on global foreign direct investment flows this year.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">Guterres announced the establishment of a COVID-19 Response and Recovery Fund to support efforts in low- and middle-income countries, with the aim of swiftly enabling governments to tackle the crisis and promote recovery.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-04-01', 'modified' => '2020-04-01', 'keywords' => '', 'description' => '', 'sortorder' => '11612', 'image' => '20200401114957_NICA-768874-Guterres.jpg', 'article_date' => '2020-04-01 11:48:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 13 => array( 'Article' => array( 'id' => '11861', 'article_category_id' => '1', 'title' => 'Nepal Gas Industry Distributing LPGs ', 'sub_title' => '', 'summary' => 'April 1: The Nepal Gas Industry (NGI) is preparing to distribute liquefied petroleum gas (LPG) from Wednesday at six various locations.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Arial">April 1: The Nepal Gas Industry (NGI) is preparing to distribute liquefied petroleum gas (LPG) from Wednesday at six various locations.</span><br /> <span style="font-family:Arial">The company said in a statement that it will distribute the LPG from six new locations instead from Balaju Industrial Estate. The company said it decided to decentralize its distribution centres to address the problems of the consumers, who have been complaining of difficulty in refilling their cylinders due to the lockdown imposed by the government.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Arial">Gokul Bhandari, executive director of Nepal Gas Industry, informed that the company will distribute LPGs for three consecutive days from six different location in Kathmandu.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Arial">“Considering the current crisis caused by coronavirus, consumers are not able to collect the LPGs from our main distribution center. That’s why we are distributing it from six various locations,” he informed. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Arial">He said that the company will distribute 560 LPG cylinders from two locations every day.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Arial">The company will distribute the LPGs under the supervision of Nepal Police. The LPGs were distributed at Chabahil and Bafal on Wednesday, and the company plans to distribute them at Baniyatar and Koteshwar on Thursday and Bhanimandal and Maharajgunj on Friday. -- RSS</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-04-01', 'modified' => '2020-04-01', 'keywords' => '', 'description' => '', 'sortorder' => '11611', 'image' => '20200401060730_1585670358.jpg', 'article_date' => '2020-04-01 18:06:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 14 => array( 'Article' => array( 'id' => '11865', 'article_category_id' => '1', 'title' => 'Food Supplies Distributed to Deprived Families ', 'sub_title' => '', 'summary' => 'April 2: Surkhet Chamber of Commerce and Industries has distributed food supplies to deprived families of Ward no 4 and 6 of Birendranagar. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Mangal","serif"">April 2: Surkhet Chamber of Commerce and Industries has distributed food supplies to deprived families of Ward no 4 and 6 of Birendranagar. Laxman Kadel, general secretary of Surkhet Chamber of Commerce and Industries said that the food supply was distributed to the family members of local labors who were hard hit by the lockdown imposed by the government to prevent the spread of coronavirus.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Mangal","serif"">Food supplies worth Rs 80,000, and total of Rs 50,500 cash were distributed among the family members of the labourers. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-04-02', 'modified' => '2020-04-02', 'keywords' => '', 'description' => '', 'sortorder' => '11610', 'image' => '20200402113737_1585713561.jpg', 'article_date' => '2020-04-02 11:36:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ) ) $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' => '11874', 'article_category_id' => '1', 'title' => 'ADB Forecasts 5.3% Economic Growth for Nepal in 2020', 'sub_title' => '', 'summary' => 'April 4: The coronavirus (COVID-19) pandemic-induced crisis is expected to decelerate Nepal’s economic growth to 5.3 percent (at market prices) in the fiscal year 2020, down from 7.1 percent a year earlier, according to the latest report published by the Asian Development Bank (ADB). ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Segoe UI","sans-serif"">April 4: The coronavirus (COVID-19) pandemic-induced crisis is expected to decelerate Nepal’s economic growth to 5.3 percent (at market prices) in the fiscal year 2020, down from 7.1 percent a year earlier, according to the latest report published by the Asian Development Bank (ADB). The Manila-based lender in its annual flagship publication the Asian Development Outlook (ADO) 2020 projects Nepal’s GDP to recover at 6.4 percent for FY2021, assuming a quick end to the COVID-19 pandemic, a return to pre-COVID economic activities, and a normal monsoon. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Segoe UI","sans-serif"">“The government of Nepal expects a couple of large infrastructure projects, namely the 456-megawatt Upper Tamakoshi Hydroelectric Plant and Gautam Buddha International Airport, to be commercially operational by FY2021. Expectation of higher subnational level spending will also stimulate growth,” ADB said in a press statement. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Segoe UI","sans-serif"">“The global outbreak of the COVID-19 pandemic and subsequent nationwide lockdown that is necessary to contain the contagion will adversely affect the country’s economy,” the statement quoted ADB Country Director for Nepal Mukhtor Khamudkhanov as saying. According to him, industry and services face supply disruptions, and remittances will likely decline during the last quarter of this fiscal year, dampening domestic demand. “Growth will also be slower as a result of lower rice production. If the situation due to the COVID-19 pandemic further worsens, growth in FY2020 could be lower than currently anticipated growth,” he said. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Segoe UI","sans-serif"">Similarly, in its Nepal Macroeconomic Update, which was released on the same day ADO 2020 was published (April 3), ADB has stated that average annual inflation will inch up to 6 percent in FY2020, up from 4.6 percent a year earlier, reflecting lower production and supply chain disruptions due to the COVID-19 pandemic. According to the report, headline inflation has averaged 6.5 percent in the first seven months of FY2020, significantly higher than 4.2 percent a year earlier. “Food inflation increased by 9.8 percent as of mid-February 2020 compared to a year earlier, with significant increase in the prices of vegetables, spices, and alcoholic beverages. The temporary closure of international borders over COVID-19 concern has nudged up food prices. The average annual inflation for FY2020 could be higher than anticipated if the situation further worsens due to the COVID-19 pandemic,” says the report.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Segoe UI","sans-serif"">According to ADB, merchandise trade deficit narrowed by 4.9 percent year-on-year in the first seven months of FY2020 after widening by 15 percent in the year-earlier period. The deficit contracted on higher export growth, particularly of palm oil and cardamom to India and reduced import of construction materials, vehicles, and petroleum products. The improved trade balance has helped contain current account deficit to USD1 billion in the fiscal year through mid-February 2020 from USD 1.5 billion in the corresponding period a year earlier. The deficit is forecast to narrow from 7.7 percent of GDP in FY2019 to 5.4 percent on shrinking imports of petroleum products, capital, and consumer goods. However, ADB has expected it could be higher if remittances fall substantially in the last quarter of FY2020 </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Segoe UI","sans-serif"">According to the Nepal Macroeconomic Update, average annual inflation will stay moderate at 5.5 percent in FY2021, assuming a reversal to normal activities after the COVID-19 disruption, better harvest, subdued oil prices, and a modest uptick of inflation in India. “The current account deficit is expected to widen from 5 percent of GDP in FY2020 to 5.6 percent as imports of capital goods increase. The deficit will, however, be largely contained by lower oil prices, a gradual reduction in the import of fossil fuel with better electricity supply, and higher hydroelectricity exports to India, according to the report,” reads the report. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Segoe UI","sans-serif"">ADB said that downside risks to the outlook in FY2021 are the pervasiveness of the COVID-19 pandemic that could paralyze the economy if the outbreak persists. It warned against natural hazards like erratic monsoons and flood could depress farm output and damage infrastructure. “Persistent capacity deficiencies regarding project and program execution at the provincial and local levels will weaken subnational spending. Exogenous shocks such as the COVID-19 pandemic will weaken global demand, affecting out-migration for foreign employment and putting pressure on Nepal’s external stability,” reads the statement. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-04-04', 'modified' => '2020-04-04', 'keywords' => '', 'description' => '', 'sortorder' => '11624', 'image' => '20200404094739_82fecd1.jpeg', 'article_date' => '2020-04-04 09:46:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 1 => array( 'Article' => array( 'id' => '11873', 'article_category_id' => '1', 'title' => 'Banks Contribute Rs 254 Million for Fight Against COVID-19', 'sub_title' => '', 'summary' => 'April 3: Commercial and development banks have started donating money to the fund set up by the government in an effort to minimize the impact of the coronavirus pandemic. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">April 3: Commercial and development banks have started donating money to the fund set up by the government in an effort to minimize the impact of the coronavirus pandemic .</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">The banks have started voluntarily contributing to the cause after the government imposed a nationwide lockdown on March 24 to contain the spread of the pandemic. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">As of Thursday (April 2), around Rs 2 billion has been collected in the fund. The contribution of 27 A-class commercial banks alone stands at Rs 254 million, according to Nepal Bankers’ Association.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">Meanwhile, Rastriya Banijya Bank has contributed Rs 18.5 million while Nepal Bank Limited has contributed Rs 13.5 million. Agriculture Development Bank has deposited Rs 16 million in the fund.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">Other banks who have contributed to the fund include NMB Bank (Rs 15.1 million), Global IME Bank (Rs11.5 million), Bank of Kathmandu (Rs10.5 million), Citizens Bank (Rs 5 million), Century Bank (Rs 8.5 million), Civil Bank (Rs 7.8 million), Himalayan Bank (Rs 12.5 million), Kumari Bank (Rs 7 million), Laxmi Bank (Rs 10 million), Machhapuchhre Bank (Rs 10.06 million), Mega Bank (Rs 13.5 million), NCC Bank (Rs 10 million), Nepal Bangladesh Bank (Rs 14.5 million), Nepal SBI Bank (Rs 10 million), Nepal Investment Bank (Rs 10 million), Prabhu Bank (Rs 10.1 million), Prime Bank (Rs 17.5 million), Sanima Bank (Rs 16.8 million) and Siddhartha Bank (Rs 8.5 million). </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">Meanwhile, Standard Chartered Bank, Sunrise Bank, NIC Asia Bank, Nabil Bank and Everest Bank are said to be holding internal discussion about contributing to the fund. All of these banks have pledged to support the government initiative.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">The fund collected around Rs 1 billion on Thursday alone. According to the Office of the Prime Minister and Council of Ministers (OPMCM), the fund has received around Rs 2 billion from generous contributors.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">The government had set up the fund on March 24 with an initial contribution of Rs 500 million to provide relief to the sectors affected by coronavirus. Spokesperson at the OPMCM Rajendra Kumar Poudel informed that the fund is receiving more contributions day by day.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">Finance Minister Yuba Raj Khatiwada informed that the transactions of the fund will be transparent as the government has already formed a work procedure to mobilise the fund.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">It has been learnt that the fund will be basically used to procure medicines and equipment for coronavirus and for free treatment of the patients.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-04-03', 'modified' => '2020-04-03', 'keywords' => '', 'description' => '', 'sortorder' => '11623', 'image' => '20200403045712_20200205110120_nw.jpg', 'article_date' => '2020-04-03 16:56:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 2 => array( 'Article' => array( 'id' => '11872', 'article_category_id' => '1', 'title' => 'StanChart Announces USD 50m COVID-19 Assistance Fund', 'sub_title' => '', 'summary' => 'April 3: The British multinational banking and financial services company Standard Chartered Group has launched a USD 50 million global fund to provide assistance to those affected by the coronavirus (COVID-19) pandemic. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:Arial">April 3: The British multinational banking and financial services company Standard Chartered Group has launched a USD 50 million global fund to provide assistance to those affected by the coronavirus (COVID-19) pandemic. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:Arial">Issuing a press statement, Standard Chartered said that the Group will immediately donate USD 25 million to support emergency relief in the most affected markets. “The additional USD 25 million will help communities over the medium term to recover from the economic impact of the virus. It will also match contributions made by its employees and other donors to meet the USD 50 million target,” reads the statement. According to the bank, all the Group’s board and management team members will be making personal contributions to the fund.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:Arial">Through individual country and regional efforts, Standard Chartered has already donated USD 1.85 million to COVID-19 relief efforts to date.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:Arial">The Group has also launched initiatives to provide economic support and protect the wellbeing of customers, clients and the Group’s 84,000 employees around the world. “On 30 March, the Group announced that it is committing up to USD 1 billion </span><span style="font-family:Arial">of loans, import/export financing and working capital, at preferential rates, for companies providing goods and services to help in the fight against COVID-19, and support those re-deploying production resources to help fight the pandemic,” said the bank. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:Arial">According to the statement, companies in scope include manufacturers and distributors in the pharmaceutical industry and healthcare providers, as well as non-medical companies that have volunteered to add this capability to their manufacturing output. “Goods in scope include ventilators, face masks, protective equipment and sanitisers,” reads the statement. </span></span></span></p> <p> </p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""> </span></span></p> ', 'published' => true, 'created' => '2020-04-03', 'modified' => '2020-04-03', 'keywords' => '', 'description' => '', 'sortorder' => '11622', 'image' => '20200403035917_Standard-Chartered.jpg', 'article_date' => '2020-04-03 15:57:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 3 => array( 'Article' => array( 'id' => '11871', 'article_category_id' => '1', 'title' => 'Global Equities Attempt Rebound from Virus-fuelled Losses', 'sub_title' => '', 'summary' => 'April 3: Global equities mostly rebounded Thursday from recent coronavirus-fuelled losses, as oil rallied on hopes of an end to a Saudi-Russia price war.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Verdana">April 3: Global equities mostly rebounded Thursday from recent coronavirus-fuelled losses, as oil rallied on hopes of an end to a Saudi-Russia price war, and resurgent Chinese energy demand, AFP reported citing the dealers.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Verdana">According to the French news agency, traders were on tenterhooks before US jobless claims data, which will again lay bare the impact of COVID-19 on the world's biggest economy after dire figures last week.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Verdana">“In midday deals, the London stock market advanced 0.3 percent with energy majors BP and Shell winning almost ten percent on the back of soaring crude futures that lift profits. In the eurozone, Frankfurt added 0.4 percent, Milan won 0.8 percent and Paris gained 0.7 percent,” AFP reported.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Verdana">Oil soared more than ten percent on hopes for a US intervention to end a Saudi-Russia price war, with US President Donald Trump saying he expected the two to resolve the row, while dealers were also cheered by China's decision to snap up bargain crude.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Verdana">The European single currency meanwhile dipped versus the dollar.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Verdana">"We do appear to be seeing some gains ... on a couple of headlines that China will start topping up its state reserves, and that Saudi Arabia is supporting co-operation amongst oil producers to stabilise oil markets," AFP quoted CMC Markets analyst Michael Hewson as saying.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Verdana">"These gains are helping support rebounds in Royal Dutch Shell and BP's share price, as well as a modest stabilisation in early trading for European markets."</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Verdana">On the downside, Madrid stocks dived 1.1 percent on news that the coronavirus death toll in Spain has surged past 10,000.</span></span></span></p> <p> </p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Verdana">After two weeks of much-needed gains fuelled by trillions of dollars in stimulus and widespread monetary easing, focus has returned to the devastation wrought on populations and the long-term impact of the pandemic.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Verdana">According to AFP, US President Trump's COVID-19 task force has warned America could see almost a quarter of a million deaths and the president warned of a "horrific" couple of weeks ahead.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Verdana">His comments came as a number of countries said they would extend lockdowns, which have already gouged economies around the world, the news agency further reported.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-04-03', 'modified' => '2020-04-03', 'keywords' => '', 'description' => '', 'sortorder' => '11621', 'image' => '20200403011201_Global equities.jpg', 'article_date' => '2020-04-03 13:11:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 4 => array( 'Article' => array( 'id' => '11868', 'article_category_id' => '1', 'title' => 'Govt Allows Industries Producing Daily Essentials to Resume Operation', 'sub_title' => '', 'summary' => 'April 3: In a move to ease the crippling lockdown imposed on March 24 to stop the possible outbreak of coronavirus (COVID-19), the government has decided to allow industries producing essential goods to resume operation provided that they meet certain health criteria.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">April 3: In a move to ease the crippling lockdown imposed on March 24 to stop the possible outbreak of coronavirus (COVID-19), the government has decided to allow industries producing essential goods to resume operation provided that they meet certain health criteria.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Industries producing food stuffs and other daily essentials will be allowed to resume operation on condition that they manage all the works with residential staff. The High-Level Coordination Committee for Prevention and Control of COVID-19 took a decision to this effect on Thursday (April 2).</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Finance Minister Dr Yuba Raj Khatiwada informed that the industries will be allowed to function if they can manage residential for production and fullfill all health and safety requirements.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Dr Khatiwada, who is also the government spokesperson, said that the industries can be operated in coordination with the local units. However, such industries cannot use workers from outside. According to Dr Khatiwada, the industries will have to mobilise the local labourers. “Industries can be operated in coordination with the local levels,” he said. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Likewise, the committee also decided to resume the construction works of large development projects like Upper Tamakoshi Hydropower Project and Melamchi Water Supply Project. For this, the projects will have to assign staff who are already stationed at the project sites. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">“The local bodies will oversee to ensure that no worker from outside enter and those working inside leave the sites,” said Khatiwada. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The committee has also decided to allow harvesting of winter crop and planting of paddy seeds without bringing workers from outside and using local and family workers. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Meanwhile, the government has decided to procure medical kits and equipment from China on its own after an earlier decision to bring those materials through a private firm courted controversy.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Minister Khatiwada said that the matters related to the procurement of medical appliances and kits are under investigation. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">He further said that the process of procurement of medical supplies through tender has been scrapped after complaint of financial irregularities and now the government has began a fresh bid through G-2-G (government to government) process. </span></span></span></p> <p><br /> </p> <p> </p> ', 'published' => true, 'created' => '2020-04-03', 'modified' => '2020-04-03', 'keywords' => '', 'description' => '', 'sortorder' => '11620', 'image' => '20200403123551_unnamed.jpg', 'article_date' => '2020-04-03 12:34:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 5 => array( 'Article' => array( 'id' => '11867', 'article_category_id' => '1', 'title' => 'Six Nepalis in Forbes 30 under 30 List', 'sub_title' => '', 'summary' => 'April 3: Five entrepreneurs and a golfer from Nepal have made it to the Forbes list of 30 under 30, 2020 in Asia.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri">April 3: Five entrepreneurs and a golfer from Nepal have made it to the Forbes list of 30 under 30, 2020 in Asia. Forbes released the list on Thursday. The list includes various youths from entrepreneurship, social work and the ones who have been influencing the society. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri">The six Nepalis on this list are Golfer Pratima Sherpa, Nikita Acharya and Kiran Timsina, co-founders, Urban Girls. Shubhangi Rana and Jeselina Rana, Pad2Go. and Rohit Tiwari, co-founder, Foodmario. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri">Nikita Acharya and Kiran Timsina had established Urban Girls in 2012. The company, which started with online selling of ladies accessories, has now expanded to bakery products and accessories for men. “There were many challenges in these seven years. This news has given a lot of motivation to move forward,” says Acharya. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri">Similarly, Shubhangi Rana and Jeselina Rana started Pad2Go in 2018. Pad2Go has been creating awareness of menstrual health. The venture has installed 80 sanitary napkin vending machines in hospitals, schools, banks and cinema halls of all seven provinces. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri">Likewise, Rohit Tiwari who has been operating Foodmario has been working as a bridge between homemakers and the customers who order food through online means. Tiwari, on the one hand, has been giving a platform to the homemakers to show their skill, and on the other has been serving office goers and others with hygienic homemade food. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri">“Being listed under 30 under 30 was my dream. This has further motivated me to push myself,” said Tiwari. “We have been prioritising hygiene from the beginning and will continue to do that. We are further planning to work on the efficiency in the kitchen so that we can deliver the food faster, he said. Foodmario is also about to start its own cloud kitchen. “We will be able to work more efficiently after we start cloud kitchen,” he said. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><img alt="" src="/app/webroot/userfiles/images/new4835.jpg" style="height:173px; width:792px" /></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"> </span></span></p> ', 'published' => true, 'created' => '2020-04-03', 'modified' => '2020-04-03', 'keywords' => '', 'description' => '', 'sortorder' => '11619', 'image' => '20200403120659_593846784_o.jpg', 'article_date' => '2020-04-03 12:06:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 6 => array( 'Article' => array( 'id' => '11869', 'article_category_id' => '1', 'title' => 'Consumers Facing Difficulty to get Daily Essentials', 'sub_title' => '', 'summary' => 'April 3: Consumers have complained of difficulties in getting daily essentials due to the shortage in the market following the lockdown imposed by the government to prevent the spread of coronavirus. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">April 3: Consumers have complained of difficulties in getting daily essentials due to the shortage in the market following the lockdown imposed by the government to prevent the spread of coronavirus. </span><br /> <span style="font-family:"Arial Unicode MS"">Doma Sherpa of Mahankal in Kathmandu Metropolitan City said that they have been facing difficulty to get daily essentials including sugar, salt, rice and vegetables in the market despite looking for it in the market. Sherpa added even shopkeepers operating during morning and evening are also running out the stock of daily essentials. </span><br /> <span style="font-family:"Arial Unicode MS"">A shopkeeper Madan Shrestha said that it was challenging to bring goods from wholesale. He added it would not be a problem for him to sell goods to consumers if he gets goods for his shop. </span><br /> <span style="font-family:"Arial Unicode MS"">Though the government had announced to ask the department stores to deliver goods to the customers’ doorsteps, it has not been effective. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2020-04-03', 'modified' => '2020-04-03', 'keywords' => '', 'description' => '', 'sortorder' => '11618', 'image' => '20200403123817_Buying Yam at Ason Chock, Photo By Prakash K (1)(1).JPG', 'article_date' => '2020-04-03 12:37:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 7 => array( 'Article' => array( 'id' => '11870', 'article_category_id' => '1', 'title' => 'Coronavirus Pandemic Hits Gold and Silver Trade', 'sub_title' => '', 'summary' => 'April 3: The lockdown to contain corona pandemic has hit the gold and silver trade in the country adversely.', 'content' => '<h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">April 3: The lockdown to contain corona pandemic has hit the gold and silver trade in the country adversely. Gold and silver trade was already declining since the beginning of the current fiscal year due sharp hike in price because of the US-China trade war. However, the lockdown has completely ruined the gold and silver business, at least for the time being. </span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">Some months ago, the trade war between China and the US and the tensions between Iran and the US, led to sharp rise in the price of gold in the international market.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">Since the price of gold in Nepal is determined on the basis of the price in global market, the price of gold has been on the rise in the domestic market since last July.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">The price of one tola (approx. 11 grams) of gold which was Rs 60,000 until the first week of July rose to Rs 82,500 by mid-July last year. Currently, the price of 11 grams of gold in the domestic market is Rs 77,000. The trade of gold is declining due to rising price. </span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">The businessmen involve in gold and silver trade are worried as coronavirus pandemic has brought their business to a grinding halt.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">According to the Federation of Nepali Gold and Silver Dealers Association, there are 22,000 jewelry shops in Nepal which are currently closed. Most of these jewelry shops are operated in rented areas and the lockdown has led to loss of income of the traders and added cost burden. </span></span></h1> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">In such a situation, the gold and silver dealers are now worried about their expenses, mainly the rent and salaries of their staff members. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Tej Ratna Shakya, former president of the Federation of Nepali Gold and Silver Dealers Association, informed that the biggest concern for all the gold and silver dealers is rent and salary of their staff. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">“At present, the whole nation is under lockdown and in such a situation traders and entrepreneurs involved in gold and silvers business won’t be able to pay the rents,” he said.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">We are also worried about paying salary to the staff, he added. </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-04-03', 'modified' => '2020-04-03', 'keywords' => '', 'description' => '', 'sortorder' => '11617', 'image' => '20200403010205_jewellry (Copy).jpg', 'article_date' => '2020-04-03 13:01:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 8 => array( 'Article' => array( 'id' => '11866', 'article_category_id' => '1', 'title' => 'Government Mulls Budget Transfer and Mobilizing Foreign Aid to Cope with COVID-19 Crisis', 'sub_title' => '', 'summary' => 'April 2: The government is facing mounting challenge for resource management with the coronavirus taking heavy toll on the country’s economy. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Times">April 2: The government is facing mounting challenge for resource management with the coronavirus taking heavy toll on the country’s economy. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">On one hand, the economic activities have come to a complete halt due to the lockdown while on the other hand the government faces an uphill battle to mange resources to control the spread of the disease. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">In order to manage funds to ward off the crisis, the Ministry of Finance has resorted to budget transfer and mobilization of foreign aid.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The finance ministry has transferred Rs 850 million from one budget head to another as per the request of the Ministry of Health and Population. A highly-placed source at the finance ministry told New Business Age that the budget has been transferred from various other programmes under the health ministry.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">According to the finance ministry, it has also transferred Rs 500 million to the fund for preventing the spread of COVID-19 from other heads.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">Joint Secretary at the ministry Uttar Kumar Khatri informed that the Office of the Prime Minister and Council of Ministers has almost finalized the work procedure to utilize the fund. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">“The government will utilize the fund in accordance to the work procedure. If the budget is insufficient, the fund will be managed by transferring amount from the annual budget of the concerned ministries,” said Khatri. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">Spokesperson of Nepal Rastra Bank Gunakar Bhatta says resource management will not be a problem for the government as revenue collection, inflow of remittance and budget expenditure are taking place as expected till last month. He said that the government will start facing problems if the current problem persists for more than a month.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">“As most of the countries around the world are under lockdown, the inflow of remittance is expected to decrease and the foreign exchange reserve will also decline. The government will face problems in such a situation,” said Bhatta.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The government has already made it clear that it is ready to mobilize foreign assistance for resource management to cope with the current crisis. A meeting of the Council of Ministers held last week has given the authority to the finance ministry to hold discussions with the donor agencies to mobilize the funds for the government’s fight against coronavirus.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The finance ministry has said that the government has initiated the process to receive concessional loan of Rs 3.43 billion from the World Bank to deal with the coronavirus crisis. It has also accepted credit facility of Rs 13.09 billion from the International Monetary Fund. The finance ministry is also doing its homework to acquire US$ 60 million from the Asian Development Bank.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">Joint Secretary at the finance ministry Khatri also informed that the government is discussing about taking concessional loan from other development partners to deal with the current crisis.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The finance ministry has formed a committee to study the impact of coronavirus on Nepal’s economy but the government has not released the findings of the report yet.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">Former Finance Secretary Shanta Raj Subedi is of the view that the government should transfer the budget allocated for development works to the sectors affected by coronavirus as there is no possibility of capital expenditure at the moment.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-04-02', 'modified' => '2020-04-02', 'keywords' => '', 'description' => '', 'sortorder' => '11616', 'image' => '20200402121158_1585779198.jpg', 'article_date' => '2020-04-02 12:11:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 9 => array( 'Article' => array( 'id' => '11863', 'article_category_id' => '1', 'title' => ' Government Terminates Contract for Medical Supplies from China', 'sub_title' => '', 'summary' => 'April 2: The government has cancelled the agreement with a private company to supply medical kits from China for the prevention and control of COVID-19 pandemic. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">April 2: The government has cancelled the agreement with a private company to supply medical kits from China for the prevention and control of COVID-19 pandemic. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">Director-General of the Department of Health, Mahendra Prasad Shrestha shared at a press conference organized by the Ministry of Health and Population on Wednesday (April 1) that the agreement with Omni Business Corporate International Pvt Ltd has been terminated due to the company's inability to supply the required medical kits. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">"The company has expressed its inability to deliver the medical supplies including rapid diagnostic kits in the stipulated time," he said, claiming the agreement signed with the supplier, therefore, was nullified. </span><br /> <span style="font-family:"Arial Unicode MS"">Shrestha further shared that the contractor, as per the agreement, had only supplied 10 per cent of the required kits and drugs at an expense of 18 per cent amount. He added the government would confiscate the surety amount deposited by the contractor and also request the authority concerned to blacklist the company for not being able to supply medical drugs and appliances as agreed. </span><br /> <span style="font-family:"Arial Unicode MS"">The Director-General also admitted that the materials imported through the company during the time of crisis cost 20 percent more than normal price. It may be noted that the government on Sunday had signed the agreement with the Omni Group to purchase medical supplies used for testing and treating coronavirus. </span><br /> <span style="font-family:"Arial Unicode MS"">Shrestha shared that a new process would be initiated for the procurement of medical appliances from Thursday (April 2) again after scrapping the agreement with Omni Business Group.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS""> The ministry is preparing to import medical appliances within five days after soliciting a bid with a three-day deadline. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">"For now, we have adequate stocks," he said, adding, "We can provide sufficient medical equipment to the doctors and health workers involved in the treatment of patients". -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2020-04-02', 'modified' => '2020-04-02', 'keywords' => '', 'description' => '', 'sortorder' => '11615', 'image' => '20200402094346_singha durbar gate.JPG', 'article_date' => '2020-04-02 09:43:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 10 => array( 'Article' => array( 'id' => '11862', 'article_category_id' => '1', 'title' => ' NOC Slashes Price of Petroleum Products by 10 Percent ', 'sub_title' => '', 'summary' => 'April 1: The Nepal Oil Corporation has slashed the price of diesel, petrol and kerosene by Rs 10 per litre each effectively from Wednesday midnight.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">April 1: The Nepal Oil Corporation has slashed the price of diesel, petrol and kerosene by Rs 10 per litre each effectively from Wednesday midnight, the state-run national news agency RSS reported. </span><br /> <span style="font-family:"Arial Unicode MS"">However, the price of cooking gas remains unchanged, said NOC's spokesperson Binit Mani Upadhyaya. The price decrement follows price fall of petroleum products in the international market, RSS reported citing NOC officials. </span><br /> <span style="font-family:"Arial Unicode MS"">As per the new price adjustment, diesel and kerosene will be sold for Rs 85 per litre and petrol for Rs 96. Likewise, the price of aviation turbine fuel for domestic flights has been decreased by Rs 15 per litre to Rs 75. </span><br /> <span style="font-family:"Arial Unicode MS"">The price of aviation turbine fuel for international flights is adjusted to USD 0.95 per litre, said Upadhyaya. </span></span></span></p> ', 'published' => true, 'created' => '2020-04-01', 'modified' => '2020-04-01', 'keywords' => '', 'description' => '', 'sortorder' => '11614', 'image' => '20200401103058_petrol-2-1539134824.jpg', 'article_date' => '2020-04-01 22:30:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 11 => array( 'Article' => array( 'id' => '11864', 'article_category_id' => '1', 'title' => 'Production Comes to a Halt in Bara-Parsa Industrial Corridor', 'sub_title' => '', 'summary' => 'April 2: Production in almost all the industries in the Bara-Parsa industrial corridor have been shut down because of the absence of workers and halt in transportation due to the lockdown to prevent the coronavirus infection. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">April 2: Production in almost all the industries in the Bara-Parsa industrial corridor have been shut down because of the absence of workers and halt in transportation due to the lockdown to prevent the coronavirus infection. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Many industries could not bring the raw materials stuck at the border. Even industries that have stored raw materials could not continue production due to the absence of workers and halt in transportation. The pharmaceutical industries are open. However, other industries for emergency supplies are producing minimum quantities. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">According to Subodh Kumar Gupta, president, Association of Nepalese Rice, Oil and Pulses Industry, the lockdown has affected the production of staple food as well. “We cannot transport even 20 percent of the production,” Gupta said. He estimated that around 3,000 food industries have been affected nationwide. Among them, 2,000 are rice industries. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">“The production of construction materials has also been halted because of lack of workers and transportation. Due to lack of transportation, we cannot send the orders to our customers,” said industrialist Rajesh Kyal. The corridor has around 1,000 factories producing food supplies, animal feeds, medicines and packaging. </span> </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">The local administration has said that passes will be provided to the emergency industries. For this, a particular time has been set. According to Lalit Kumar Basnet, assistant district officer of Parsa, the workers need to reach the factory before 9 am and can leave the factory only after 6 pm. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Local security entity and industrialists had agreed to allow movement at the specific time. While motorcycles are allowed for commuting, other vehicles are not allowed. However, many workers have not been going to work due to the fear of coronavirus. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Because of limitation on timing, it is difficult to bring raw materials from the border, said Ashok Kumar Vaid, vice-president of Nepal Chamber of Commerce and Industry of Province 2. “Vehicles entering the factory at 9 am have to wait till 6 pm to leave the place,” said Vaid. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Gupta said that not only has the transportation been affected, but the materials which need to be sent outside Birgunj are also stuck at the border. As the supplies are stuck at the border, Birgunj customs office had issued a notice requesting the importer to do the custom clearance. Now, the frequency of trucks have increased comparatively. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">However, the lockdown in India has decreased the import from roadways, said Dhundi Prashad Niraula. Previously, on an average day, around 600-700 vehicles used to enter the border, but only 37 vehicles entered on Monday. Meanwhile, cargo transportation via train has increased. Currently, 2,200 containers filled with supply and 400 empty containers are stockpiled at Birgunj dry port. </span></span></span></p> <p><br /> </p> <p> </p> ', 'published' => true, 'created' => '2020-04-02', 'modified' => '2020-04-02', 'keywords' => '', 'description' => '', 'sortorder' => '11613', 'image' => '20200402100050_1585693075 copy.jpg', 'article_date' => '2020-04-02 09:57:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 12 => array( 'Article' => array( 'id' => '11858', 'article_category_id' => '1', 'title' => 'COVID-19 is Worst Crisis since World War II: UN chief ', 'sub_title' => '', 'summary' => 'April 1: UN Secretary-General Antonio Guterres warned Tuesday that the world faces the most challenging crisis since World War II.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Times">April 1: UN Secretary-General Antonio Guterres warned Tuesday that the world faces the most challenging crisis since World War II, confronting a pandemic threatening people in every country, one that will bring a recession “that probably has no parallel in the recent past”, the Associated Press reported.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">According to the news agency, the UN chief said at the launch of a report on the socioeconomic impacts of COVID-19 that there is also a risk that the combination of the disease and its economic impact will contribute to “enhanced instability, enhanced unrest, and enhanced conflict”.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">Guterres reportedly called for a much stronger and more effective global response to the coronavirus pandemic and to the social and economic devastation that COVID-19 is causing. He stressed that this will only be possible “if everybody comes together and if we forget political games and understand that it is humankind that is at stake.”</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">“We are facing a global health crisis unlike any in the 75-year history of the United Nations — one that is killing people, spreading human suffering, and upending people’s lives,” the report said. “But this is much more than a health crisis. It is a human crisis. The coronavirus disease (COVID-19) is attacking societies at their core.”</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">According to AP, the secretary-general told reporters that the magnitude of the response must match the scale of the crisis — large-scale, coordinated and comprehensive, with country and international responses being guided by the World Health Organization.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">He further said that many countries were not respecting WHO guidelines, with each tending to go its own way in dealing with the pandemic.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">“Let us remember that we are only as strong as the weakest health system in our interconnected world,” he said. “It is essential that developed countries immediately assist those less developed to bolster their health systems and their response capacity to stop transmission,” AP quoted him as saying.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">According to the UN Secretary-General, while $5 trillion has been mobilized, most of that money was by the developed world — including $2 trillion in the United States — to support their own economies from the consequences of the pandemic.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">“We are far from having a global package to help the developing world to create the conditions both to suppress the disease and to address the dramatic consequences in their populations, in the people that lost their jobs, the small companies that are operating and risk to disappear, those that live with the informal economy that now have no chance to survive,” he said. “Massive support to the developing world is still required.”</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">According to AP, the report also cites International Labor Organization estimates for 2020 that between 5 million and 25 million jobs will be lost, with a corresponding loss of between $860 million and $3.4 trillion in labor income. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">It also cited an estimate by the U.N. trade and development organization UNCTAD of a 30-40 percent “downward pressure" on global foreign direct investment flows this year.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">Guterres announced the establishment of a COVID-19 Response and Recovery Fund to support efforts in low- and middle-income countries, with the aim of swiftly enabling governments to tackle the crisis and promote recovery.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-04-01', 'modified' => '2020-04-01', 'keywords' => '', 'description' => '', 'sortorder' => '11612', 'image' => '20200401114957_NICA-768874-Guterres.jpg', 'article_date' => '2020-04-01 11:48:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 13 => array( 'Article' => array( 'id' => '11861', 'article_category_id' => '1', 'title' => 'Nepal Gas Industry Distributing LPGs ', 'sub_title' => '', 'summary' => 'April 1: The Nepal Gas Industry (NGI) is preparing to distribute liquefied petroleum gas (LPG) from Wednesday at six various locations.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Arial">April 1: The Nepal Gas Industry (NGI) is preparing to distribute liquefied petroleum gas (LPG) from Wednesday at six various locations.</span><br /> <span style="font-family:Arial">The company said in a statement that it will distribute the LPG from six new locations instead from Balaju Industrial Estate. The company said it decided to decentralize its distribution centres to address the problems of the consumers, who have been complaining of difficulty in refilling their cylinders due to the lockdown imposed by the government.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Arial">Gokul Bhandari, executive director of Nepal Gas Industry, informed that the company will distribute LPGs for three consecutive days from six different location in Kathmandu.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Arial">“Considering the current crisis caused by coronavirus, consumers are not able to collect the LPGs from our main distribution center. That’s why we are distributing it from six various locations,” he informed. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Arial">He said that the company will distribute 560 LPG cylinders from two locations every day.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Arial">The company will distribute the LPGs under the supervision of Nepal Police. The LPGs were distributed at Chabahil and Bafal on Wednesday, and the company plans to distribute them at Baniyatar and Koteshwar on Thursday and Bhanimandal and Maharajgunj on Friday. -- RSS</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-04-01', 'modified' => '2020-04-01', 'keywords' => '', 'description' => '', 'sortorder' => '11611', 'image' => '20200401060730_1585670358.jpg', 'article_date' => '2020-04-01 18:06:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 14 => array( 'Article' => array( 'id' => '11865', 'article_category_id' => '1', 'title' => 'Food Supplies Distributed to Deprived Families ', 'sub_title' => '', 'summary' => 'April 2: Surkhet Chamber of Commerce and Industries has distributed food supplies to deprived families of Ward no 4 and 6 of Birendranagar. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Mangal","serif"">April 2: Surkhet Chamber of Commerce and Industries has distributed food supplies to deprived families of Ward no 4 and 6 of Birendranagar. Laxman Kadel, general secretary of Surkhet Chamber of Commerce and Industries said that the food supply was distributed to the family members of local labors who were hard hit by the lockdown imposed by the government to prevent the spread of coronavirus.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Mangal","serif"">Food supplies worth Rs 80,000, and total of Rs 50,500 cash were distributed among the family members of the labourers. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-04-02', 'modified' => '2020-04-02', 'keywords' => '', 'description' => '', 'sortorder' => '11610', 'image' => '20200402113737_1585713561.jpg', 'article_date' => '2020-04-02 11:36:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ) ) $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:20px"><span style="font-family:Calibri"><span style="font-family:"Segoe UI","sans-serif"">April 4: The coronavirus (COVID-19) pandemic-induced crisis is expected to decelerate Nepal’s economic growth to 5.3 percent (at market prices) in the fiscal year 2020, down from 7.1 percent a year earlier, according to the latest report published by the Asian Development Bank (ADB). The Manila-based lender in its annual flagship publication the Asian Development Outlook (ADO) 2020 projects Nepal’s GDP to recover at 6.4 percent for FY2021, assuming a quick end to the COVID-19 pandemic, a return to pre-COVID economic activities, and a normal monsoon. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Segoe UI","sans-serif"">“The government of Nepal expects a couple of large infrastructure projects, namely the 456-megawatt Upper Tamakoshi Hydroelectric Plant and Gautam Buddha International Airport, to be commercially operational by FY2021. Expectation of higher subnational level spending will also stimulate growth,” ADB said in a press statement. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Segoe UI","sans-serif"">“The global outbreak of the COVID-19 pandemic and subsequent nationwide lockdown that is necessary to contain the contagion will adversely affect the country’s economy,” the statement quoted ADB Country Director for Nepal Mukhtor Khamudkhanov as saying. According to him, industry and services face supply disruptions, and remittances will likely decline during the last quarter of this fiscal year, dampening domestic demand. “Growth will also be slower as a result of lower rice production. If the situation due to the COVID-19 pandemic further worsens, growth in FY2020 could be lower than currently anticipated growth,” he said. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Segoe UI","sans-serif"">Similarly, in its Nepal Macroeconomic Update, which was released on the same day ADO 2020 was published (April 3), ADB has stated that average annual inflation will inch up to 6 percent in FY2020, up from 4.6 percent a year earlier, reflecting lower production and supply chain disruptions due to the COVID-19 pandemic. According to the report, headline inflation has averaged 6.5 percent in the first seven months of FY2020, significantly higher than 4.2 percent a year earlier. “Food inflation increased by 9.8 percent as of mid-February 2020 compared to a year earlier, with significant increase in the prices of vegetables, spices, and alcoholic beverages. The temporary closure of international borders over COVID-19 concern has nudged up food prices. The average annual inflation for FY2020 could be higher than anticipated if the situation further worsens due to the COVID-19 pandemic,” says the report.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Segoe UI","sans-serif"">According to ADB, merchandise trade deficit narrowed by 4.9 percent year-on-year in the first seven months of FY2020 after widening by 15 percent in the year-earlier period. The deficit contracted on higher export growth, particularly of palm oil and cardamom to India and reduced import of construction materials, vehicles, and petroleum products. The improved trade balance has helped contain current account deficit to USD1 billion in the fiscal year through mid-February 2020 from USD 1.5 billion in the corresponding period a year earlier. The deficit is forecast to narrow from 7.7 percent of GDP in FY2019 to 5.4 percent on shrinking imports of petroleum products, capital, and consumer goods. However, ADB has expected it could be higher if remittances fall substantially in the last quarter of FY2020 </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Segoe UI","sans-serif"">According to the Nepal Macroeconomic Update, average annual inflation will stay moderate at 5.5 percent in FY2021, assuming a reversal to normal activities after the COVID-19 disruption, better harvest, subdued oil prices, and a modest uptick of inflation in India. “The current account deficit is expected to widen from 5 percent of GDP in FY2020 to 5.6 percent as imports of capital goods increase. The deficit will, however, be largely contained by lower oil prices, a gradual reduction in the import of fossil fuel with better electricity supply, and higher hydroelectricity exports to India, according to the report,” reads the report. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Segoe UI","sans-serif"">ADB said that downside risks to the outlook in FY2021 are the pervasiveness of the COVID-19 pandemic that could paralyze the economy if the outbreak persists. It warned against natural hazards like erratic monsoons and flood could depress farm output and damage infrastructure. “Persistent capacity deficiencies regarding project and program execution at the provincial and local levels will weaken subnational spending. Exogenous shocks such as the COVID-19 pandemic will weaken global demand, affecting out-migration for foreign employment and putting pressure on Nepal’s external stability,” reads the statement. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-04-04', 'modified' => '2020-04-04', 'keywords' => '', 'description' => '', 'sortorder' => '11624', 'image' => '20200404094739_82fecd1.jpeg', 'article_date' => '2020-04-04 09:46:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 1 => array( 'Article' => array( 'id' => '11873', 'article_category_id' => '1', 'title' => 'Banks Contribute Rs 254 Million for Fight Against COVID-19', 'sub_title' => '', 'summary' => 'April 3: Commercial and development banks have started donating money to the fund set up by the government in an effort to minimize the impact of the coronavirus pandemic. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">April 3: Commercial and development banks have started donating money to the fund set up by the government in an effort to minimize the impact of the coronavirus pandemic .</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">The banks have started voluntarily contributing to the cause after the government imposed a nationwide lockdown on March 24 to contain the spread of the pandemic. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">As of Thursday (April 2), around Rs 2 billion has been collected in the fund. The contribution of 27 A-class commercial banks alone stands at Rs 254 million, according to Nepal Bankers’ Association.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">Meanwhile, Rastriya Banijya Bank has contributed Rs 18.5 million while Nepal Bank Limited has contributed Rs 13.5 million. Agriculture Development Bank has deposited Rs 16 million in the fund.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">Other banks who have contributed to the fund include NMB Bank (Rs 15.1 million), Global IME Bank (Rs11.5 million), Bank of Kathmandu (Rs10.5 million), Citizens Bank (Rs 5 million), Century Bank (Rs 8.5 million), Civil Bank (Rs 7.8 million), Himalayan Bank (Rs 12.5 million), Kumari Bank (Rs 7 million), Laxmi Bank (Rs 10 million), Machhapuchhre Bank (Rs 10.06 million), Mega Bank (Rs 13.5 million), NCC Bank (Rs 10 million), Nepal Bangladesh Bank (Rs 14.5 million), Nepal SBI Bank (Rs 10 million), Nepal Investment Bank (Rs 10 million), Prabhu Bank (Rs 10.1 million), Prime Bank (Rs 17.5 million), Sanima Bank (Rs 16.8 million) and Siddhartha Bank (Rs 8.5 million). </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">Meanwhile, Standard Chartered Bank, Sunrise Bank, NIC Asia Bank, Nabil Bank and Everest Bank are said to be holding internal discussion about contributing to the fund. All of these banks have pledged to support the government initiative.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">The fund collected around Rs 1 billion on Thursday alone. According to the Office of the Prime Minister and Council of Ministers (OPMCM), the fund has received around Rs 2 billion from generous contributors.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">The government had set up the fund on March 24 with an initial contribution of Rs 500 million to provide relief to the sectors affected by coronavirus. Spokesperson at the OPMCM Rajendra Kumar Poudel informed that the fund is receiving more contributions day by day.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">Finance Minister Yuba Raj Khatiwada informed that the transactions of the fund will be transparent as the government has already formed a work procedure to mobilise the fund.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">It has been learnt that the fund will be basically used to procure medicines and equipment for coronavirus and for free treatment of the patients.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-04-03', 'modified' => '2020-04-03', 'keywords' => '', 'description' => '', 'sortorder' => '11623', 'image' => '20200403045712_20200205110120_nw.jpg', 'article_date' => '2020-04-03 16:56:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 2 => array( 'Article' => array( 'id' => '11872', 'article_category_id' => '1', 'title' => 'StanChart Announces USD 50m COVID-19 Assistance Fund', 'sub_title' => '', 'summary' => 'April 3: The British multinational banking and financial services company Standard Chartered Group has launched a USD 50 million global fund to provide assistance to those affected by the coronavirus (COVID-19) pandemic. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:Arial">April 3: The British multinational banking and financial services company Standard Chartered Group has launched a USD 50 million global fund to provide assistance to those affected by the coronavirus (COVID-19) pandemic. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:Arial">Issuing a press statement, Standard Chartered said that the Group will immediately donate USD 25 million to support emergency relief in the most affected markets. “The additional USD 25 million will help communities over the medium term to recover from the economic impact of the virus. It will also match contributions made by its employees and other donors to meet the USD 50 million target,” reads the statement. According to the bank, all the Group’s board and management team members will be making personal contributions to the fund.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:Arial">Through individual country and regional efforts, Standard Chartered has already donated USD 1.85 million to COVID-19 relief efforts to date.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:Arial">The Group has also launched initiatives to provide economic support and protect the wellbeing of customers, clients and the Group’s 84,000 employees around the world. “On 30 March, the Group announced that it is committing up to USD 1 billion </span><span style="font-family:Arial">of loans, import/export financing and working capital, at preferential rates, for companies providing goods and services to help in the fight against COVID-19, and support those re-deploying production resources to help fight the pandemic,” said the bank. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:Arial">According to the statement, companies in scope include manufacturers and distributors in the pharmaceutical industry and healthcare providers, as well as non-medical companies that have volunteered to add this capability to their manufacturing output. “Goods in scope include ventilators, face masks, protective equipment and sanitisers,” reads the statement. </span></span></span></p> <p> </p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""> </span></span></p> ', 'published' => true, 'created' => '2020-04-03', 'modified' => '2020-04-03', 'keywords' => '', 'description' => '', 'sortorder' => '11622', 'image' => '20200403035917_Standard-Chartered.jpg', 'article_date' => '2020-04-03 15:57:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 3 => array( 'Article' => array( 'id' => '11871', 'article_category_id' => '1', 'title' => 'Global Equities Attempt Rebound from Virus-fuelled Losses', 'sub_title' => '', 'summary' => 'April 3: Global equities mostly rebounded Thursday from recent coronavirus-fuelled losses, as oil rallied on hopes of an end to a Saudi-Russia price war.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Verdana">April 3: Global equities mostly rebounded Thursday from recent coronavirus-fuelled losses, as oil rallied on hopes of an end to a Saudi-Russia price war, and resurgent Chinese energy demand, AFP reported citing the dealers.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Verdana">According to the French news agency, traders were on tenterhooks before US jobless claims data, which will again lay bare the impact of COVID-19 on the world's biggest economy after dire figures last week.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Verdana">“In midday deals, the London stock market advanced 0.3 percent with energy majors BP and Shell winning almost ten percent on the back of soaring crude futures that lift profits. In the eurozone, Frankfurt added 0.4 percent, Milan won 0.8 percent and Paris gained 0.7 percent,” AFP reported.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Verdana">Oil soared more than ten percent on hopes for a US intervention to end a Saudi-Russia price war, with US President Donald Trump saying he expected the two to resolve the row, while dealers were also cheered by China's decision to snap up bargain crude.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Verdana">The European single currency meanwhile dipped versus the dollar.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Verdana">"We do appear to be seeing some gains ... on a couple of headlines that China will start topping up its state reserves, and that Saudi Arabia is supporting co-operation amongst oil producers to stabilise oil markets," AFP quoted CMC Markets analyst Michael Hewson as saying.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Verdana">"These gains are helping support rebounds in Royal Dutch Shell and BP's share price, as well as a modest stabilisation in early trading for European markets."</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Verdana">On the downside, Madrid stocks dived 1.1 percent on news that the coronavirus death toll in Spain has surged past 10,000.</span></span></span></p> <p> </p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Verdana">After two weeks of much-needed gains fuelled by trillions of dollars in stimulus and widespread monetary easing, focus has returned to the devastation wrought on populations and the long-term impact of the pandemic.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Verdana">According to AFP, US President Trump's COVID-19 task force has warned America could see almost a quarter of a million deaths and the president warned of a "horrific" couple of weeks ahead.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Verdana">His comments came as a number of countries said they would extend lockdowns, which have already gouged economies around the world, the news agency further reported.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-04-03', 'modified' => '2020-04-03', 'keywords' => '', 'description' => '', 'sortorder' => '11621', 'image' => '20200403011201_Global equities.jpg', 'article_date' => '2020-04-03 13:11:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 4 => array( 'Article' => array( 'id' => '11868', 'article_category_id' => '1', 'title' => 'Govt Allows Industries Producing Daily Essentials to Resume Operation', 'sub_title' => '', 'summary' => 'April 3: In a move to ease the crippling lockdown imposed on March 24 to stop the possible outbreak of coronavirus (COVID-19), the government has decided to allow industries producing essential goods to resume operation provided that they meet certain health criteria.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">April 3: In a move to ease the crippling lockdown imposed on March 24 to stop the possible outbreak of coronavirus (COVID-19), the government has decided to allow industries producing essential goods to resume operation provided that they meet certain health criteria.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Industries producing food stuffs and other daily essentials will be allowed to resume operation on condition that they manage all the works with residential staff. The High-Level Coordination Committee for Prevention and Control of COVID-19 took a decision to this effect on Thursday (April 2).</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Finance Minister Dr Yuba Raj Khatiwada informed that the industries will be allowed to function if they can manage residential for production and fullfill all health and safety requirements.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Dr Khatiwada, who is also the government spokesperson, said that the industries can be operated in coordination with the local units. However, such industries cannot use workers from outside. According to Dr Khatiwada, the industries will have to mobilise the local labourers. “Industries can be operated in coordination with the local levels,” he said. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Likewise, the committee also decided to resume the construction works of large development projects like Upper Tamakoshi Hydropower Project and Melamchi Water Supply Project. For this, the projects will have to assign staff who are already stationed at the project sites. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">“The local bodies will oversee to ensure that no worker from outside enter and those working inside leave the sites,” said Khatiwada. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The committee has also decided to allow harvesting of winter crop and planting of paddy seeds without bringing workers from outside and using local and family workers. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Meanwhile, the government has decided to procure medical kits and equipment from China on its own after an earlier decision to bring those materials through a private firm courted controversy.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Minister Khatiwada said that the matters related to the procurement of medical appliances and kits are under investigation. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">He further said that the process of procurement of medical supplies through tender has been scrapped after complaint of financial irregularities and now the government has began a fresh bid through G-2-G (government to government) process. </span></span></span></p> <p><br /> </p> <p> </p> ', 'published' => true, 'created' => '2020-04-03', 'modified' => '2020-04-03', 'keywords' => '', 'description' => '', 'sortorder' => '11620', 'image' => '20200403123551_unnamed.jpg', 'article_date' => '2020-04-03 12:34:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 5 => array( 'Article' => array( 'id' => '11867', 'article_category_id' => '1', 'title' => 'Six Nepalis in Forbes 30 under 30 List', 'sub_title' => '', 'summary' => 'April 3: Five entrepreneurs and a golfer from Nepal have made it to the Forbes list of 30 under 30, 2020 in Asia.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri">April 3: Five entrepreneurs and a golfer from Nepal have made it to the Forbes list of 30 under 30, 2020 in Asia. Forbes released the list on Thursday. The list includes various youths from entrepreneurship, social work and the ones who have been influencing the society. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri">The six Nepalis on this list are Golfer Pratima Sherpa, Nikita Acharya and Kiran Timsina, co-founders, Urban Girls. Shubhangi Rana and Jeselina Rana, Pad2Go. and Rohit Tiwari, co-founder, Foodmario. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri">Nikita Acharya and Kiran Timsina had established Urban Girls in 2012. The company, which started with online selling of ladies accessories, has now expanded to bakery products and accessories for men. “There were many challenges in these seven years. This news has given a lot of motivation to move forward,” says Acharya. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri">Similarly, Shubhangi Rana and Jeselina Rana started Pad2Go in 2018. Pad2Go has been creating awareness of menstrual health. The venture has installed 80 sanitary napkin vending machines in hospitals, schools, banks and cinema halls of all seven provinces. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri">Likewise, Rohit Tiwari who has been operating Foodmario has been working as a bridge between homemakers and the customers who order food through online means. Tiwari, on the one hand, has been giving a platform to the homemakers to show their skill, and on the other has been serving office goers and others with hygienic homemade food. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri">“Being listed under 30 under 30 was my dream. This has further motivated me to push myself,” said Tiwari. “We have been prioritising hygiene from the beginning and will continue to do that. We are further planning to work on the efficiency in the kitchen so that we can deliver the food faster, he said. Foodmario is also about to start its own cloud kitchen. “We will be able to work more efficiently after we start cloud kitchen,” he said. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><img alt="" src="/app/webroot/userfiles/images/new4835.jpg" style="height:173px; width:792px" /></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"> </span></span></p> ', 'published' => true, 'created' => '2020-04-03', 'modified' => '2020-04-03', 'keywords' => '', 'description' => '', 'sortorder' => '11619', 'image' => '20200403120659_593846784_o.jpg', 'article_date' => '2020-04-03 12:06:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 6 => array( 'Article' => array( 'id' => '11869', 'article_category_id' => '1', 'title' => 'Consumers Facing Difficulty to get Daily Essentials', 'sub_title' => '', 'summary' => 'April 3: Consumers have complained of difficulties in getting daily essentials due to the shortage in the market following the lockdown imposed by the government to prevent the spread of coronavirus. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">April 3: Consumers have complained of difficulties in getting daily essentials due to the shortage in the market following the lockdown imposed by the government to prevent the spread of coronavirus. </span><br /> <span style="font-family:"Arial Unicode MS"">Doma Sherpa of Mahankal in Kathmandu Metropolitan City said that they have been facing difficulty to get daily essentials including sugar, salt, rice and vegetables in the market despite looking for it in the market. Sherpa added even shopkeepers operating during morning and evening are also running out the stock of daily essentials. </span><br /> <span style="font-family:"Arial Unicode MS"">A shopkeeper Madan Shrestha said that it was challenging to bring goods from wholesale. He added it would not be a problem for him to sell goods to consumers if he gets goods for his shop. </span><br /> <span style="font-family:"Arial Unicode MS"">Though the government had announced to ask the department stores to deliver goods to the customers’ doorsteps, it has not been effective. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2020-04-03', 'modified' => '2020-04-03', 'keywords' => '', 'description' => '', 'sortorder' => '11618', 'image' => '20200403123817_Buying Yam at Ason Chock, Photo By Prakash K (1)(1).JPG', 'article_date' => '2020-04-03 12:37:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 7 => array( 'Article' => array( 'id' => '11870', 'article_category_id' => '1', 'title' => 'Coronavirus Pandemic Hits Gold and Silver Trade', 'sub_title' => '', 'summary' => 'April 3: The lockdown to contain corona pandemic has hit the gold and silver trade in the country adversely.', 'content' => '<h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">April 3: The lockdown to contain corona pandemic has hit the gold and silver trade in the country adversely. Gold and silver trade was already declining since the beginning of the current fiscal year due sharp hike in price because of the US-China trade war. However, the lockdown has completely ruined the gold and silver business, at least for the time being. </span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">Some months ago, the trade war between China and the US and the tensions between Iran and the US, led to sharp rise in the price of gold in the international market.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">Since the price of gold in Nepal is determined on the basis of the price in global market, the price of gold has been on the rise in the domestic market since last July.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">The price of one tola (approx. 11 grams) of gold which was Rs 60,000 until the first week of July rose to Rs 82,500 by mid-July last year. Currently, the price of 11 grams of gold in the domestic market is Rs 77,000. The trade of gold is declining due to rising price. </span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">The businessmen involve in gold and silver trade are worried as coronavirus pandemic has brought their business to a grinding halt.</span></span></h1> <h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">According to the Federation of Nepali Gold and Silver Dealers Association, there are 22,000 jewelry shops in Nepal which are currently closed. Most of these jewelry shops are operated in rented areas and the lockdown has led to loss of income of the traders and added cost burden. </span></span></h1> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">In such a situation, the gold and silver dealers are now worried about their expenses, mainly the rent and salaries of their staff members. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Tej Ratna Shakya, former president of the Federation of Nepali Gold and Silver Dealers Association, informed that the biggest concern for all the gold and silver dealers is rent and salary of their staff. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">“At present, the whole nation is under lockdown and in such a situation traders and entrepreneurs involved in gold and silvers business won’t be able to pay the rents,” he said.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">We are also worried about paying salary to the staff, he added. </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-04-03', 'modified' => '2020-04-03', 'keywords' => '', 'description' => '', 'sortorder' => '11617', 'image' => '20200403010205_jewellry (Copy).jpg', 'article_date' => '2020-04-03 13:01:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 8 => array( 'Article' => array( 'id' => '11866', 'article_category_id' => '1', 'title' => 'Government Mulls Budget Transfer and Mobilizing Foreign Aid to Cope with COVID-19 Crisis', 'sub_title' => '', 'summary' => 'April 2: The government is facing mounting challenge for resource management with the coronavirus taking heavy toll on the country’s economy. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Times">April 2: The government is facing mounting challenge for resource management with the coronavirus taking heavy toll on the country’s economy. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">On one hand, the economic activities have come to a complete halt due to the lockdown while on the other hand the government faces an uphill battle to mange resources to control the spread of the disease. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">In order to manage funds to ward off the crisis, the Ministry of Finance has resorted to budget transfer and mobilization of foreign aid.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The finance ministry has transferred Rs 850 million from one budget head to another as per the request of the Ministry of Health and Population. A highly-placed source at the finance ministry told New Business Age that the budget has been transferred from various other programmes under the health ministry.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">According to the finance ministry, it has also transferred Rs 500 million to the fund for preventing the spread of COVID-19 from other heads.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">Joint Secretary at the ministry Uttar Kumar Khatri informed that the Office of the Prime Minister and Council of Ministers has almost finalized the work procedure to utilize the fund. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">“The government will utilize the fund in accordance to the work procedure. If the budget is insufficient, the fund will be managed by transferring amount from the annual budget of the concerned ministries,” said Khatri. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">Spokesperson of Nepal Rastra Bank Gunakar Bhatta says resource management will not be a problem for the government as revenue collection, inflow of remittance and budget expenditure are taking place as expected till last month. He said that the government will start facing problems if the current problem persists for more than a month.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">“As most of the countries around the world are under lockdown, the inflow of remittance is expected to decrease and the foreign exchange reserve will also decline. The government will face problems in such a situation,” said Bhatta.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The government has already made it clear that it is ready to mobilize foreign assistance for resource management to cope with the current crisis. A meeting of the Council of Ministers held last week has given the authority to the finance ministry to hold discussions with the donor agencies to mobilize the funds for the government’s fight against coronavirus.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The finance ministry has said that the government has initiated the process to receive concessional loan of Rs 3.43 billion from the World Bank to deal with the coronavirus crisis. It has also accepted credit facility of Rs 13.09 billion from the International Monetary Fund. The finance ministry is also doing its homework to acquire US$ 60 million from the Asian Development Bank.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">Joint Secretary at the finance ministry Khatri also informed that the government is discussing about taking concessional loan from other development partners to deal with the current crisis.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The finance ministry has formed a committee to study the impact of coronavirus on Nepal’s economy but the government has not released the findings of the report yet.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">Former Finance Secretary Shanta Raj Subedi is of the view that the government should transfer the budget allocated for development works to the sectors affected by coronavirus as there is no possibility of capital expenditure at the moment.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-04-02', 'modified' => '2020-04-02', 'keywords' => '', 'description' => '', 'sortorder' => '11616', 'image' => '20200402121158_1585779198.jpg', 'article_date' => '2020-04-02 12:11:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 9 => array( 'Article' => array( 'id' => '11863', 'article_category_id' => '1', 'title' => ' Government Terminates Contract for Medical Supplies from China', 'sub_title' => '', 'summary' => 'April 2: The government has cancelled the agreement with a private company to supply medical kits from China for the prevention and control of COVID-19 pandemic. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">April 2: The government has cancelled the agreement with a private company to supply medical kits from China for the prevention and control of COVID-19 pandemic. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">Director-General of the Department of Health, Mahendra Prasad Shrestha shared at a press conference organized by the Ministry of Health and Population on Wednesday (April 1) that the agreement with Omni Business Corporate International Pvt Ltd has been terminated due to the company's inability to supply the required medical kits. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">"The company has expressed its inability to deliver the medical supplies including rapid diagnostic kits in the stipulated time," he said, claiming the agreement signed with the supplier, therefore, was nullified. </span><br /> <span style="font-family:"Arial Unicode MS"">Shrestha further shared that the contractor, as per the agreement, had only supplied 10 per cent of the required kits and drugs at an expense of 18 per cent amount. He added the government would confiscate the surety amount deposited by the contractor and also request the authority concerned to blacklist the company for not being able to supply medical drugs and appliances as agreed. </span><br /> <span style="font-family:"Arial Unicode MS"">The Director-General also admitted that the materials imported through the company during the time of crisis cost 20 percent more than normal price. It may be noted that the government on Sunday had signed the agreement with the Omni Group to purchase medical supplies used for testing and treating coronavirus. </span><br /> <span style="font-family:"Arial Unicode MS"">Shrestha shared that a new process would be initiated for the procurement of medical appliances from Thursday (April 2) again after scrapping the agreement with Omni Business Group.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS""> The ministry is preparing to import medical appliances within five days after soliciting a bid with a three-day deadline. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">"For now, we have adequate stocks," he said, adding, "We can provide sufficient medical equipment to the doctors and health workers involved in the treatment of patients". -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2020-04-02', 'modified' => '2020-04-02', 'keywords' => '', 'description' => '', 'sortorder' => '11615', 'image' => '20200402094346_singha durbar gate.JPG', 'article_date' => '2020-04-02 09:43:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 10 => array( 'Article' => array( 'id' => '11862', 'article_category_id' => '1', 'title' => ' NOC Slashes Price of Petroleum Products by 10 Percent ', 'sub_title' => '', 'summary' => 'April 1: The Nepal Oil Corporation has slashed the price of diesel, petrol and kerosene by Rs 10 per litre each effectively from Wednesday midnight.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">April 1: The Nepal Oil Corporation has slashed the price of diesel, petrol and kerosene by Rs 10 per litre each effectively from Wednesday midnight, the state-run national news agency RSS reported. </span><br /> <span style="font-family:"Arial Unicode MS"">However, the price of cooking gas remains unchanged, said NOC's spokesperson Binit Mani Upadhyaya. The price decrement follows price fall of petroleum products in the international market, RSS reported citing NOC officials. </span><br /> <span style="font-family:"Arial Unicode MS"">As per the new price adjustment, diesel and kerosene will be sold for Rs 85 per litre and petrol for Rs 96. Likewise, the price of aviation turbine fuel for domestic flights has been decreased by Rs 15 per litre to Rs 75. </span><br /> <span style="font-family:"Arial Unicode MS"">The price of aviation turbine fuel for international flights is adjusted to USD 0.95 per litre, said Upadhyaya. </span></span></span></p> ', 'published' => true, 'created' => '2020-04-01', 'modified' => '2020-04-01', 'keywords' => '', 'description' => '', 'sortorder' => '11614', 'image' => '20200401103058_petrol-2-1539134824.jpg', 'article_date' => '2020-04-01 22:30:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 11 => array( 'Article' => array( 'id' => '11864', 'article_category_id' => '1', 'title' => 'Production Comes to a Halt in Bara-Parsa Industrial Corridor', 'sub_title' => '', 'summary' => 'April 2: Production in almost all the industries in the Bara-Parsa industrial corridor have been shut down because of the absence of workers and halt in transportation due to the lockdown to prevent the coronavirus infection. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">April 2: Production in almost all the industries in the Bara-Parsa industrial corridor have been shut down because of the absence of workers and halt in transportation due to the lockdown to prevent the coronavirus infection. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Many industries could not bring the raw materials stuck at the border. Even industries that have stored raw materials could not continue production due to the absence of workers and halt in transportation. The pharmaceutical industries are open. However, other industries for emergency supplies are producing minimum quantities. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">According to Subodh Kumar Gupta, president, Association of Nepalese Rice, Oil and Pulses Industry, the lockdown has affected the production of staple food as well. “We cannot transport even 20 percent of the production,” Gupta said. He estimated that around 3,000 food industries have been affected nationwide. Among them, 2,000 are rice industries. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">“The production of construction materials has also been halted because of lack of workers and transportation. Due to lack of transportation, we cannot send the orders to our customers,” said industrialist Rajesh Kyal. The corridor has around 1,000 factories producing food supplies, animal feeds, medicines and packaging. </span> </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">The local administration has said that passes will be provided to the emergency industries. For this, a particular time has been set. According to Lalit Kumar Basnet, assistant district officer of Parsa, the workers need to reach the factory before 9 am and can leave the factory only after 6 pm. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Local security entity and industrialists had agreed to allow movement at the specific time. While motorcycles are allowed for commuting, other vehicles are not allowed. However, many workers have not been going to work due to the fear of coronavirus. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Because of limitation on timing, it is difficult to bring raw materials from the border, said Ashok Kumar Vaid, vice-president of Nepal Chamber of Commerce and Industry of Province 2. “Vehicles entering the factory at 9 am have to wait till 6 pm to leave the place,” said Vaid. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Gupta said that not only has the transportation been affected, but the materials which need to be sent outside Birgunj are also stuck at the border. As the supplies are stuck at the border, Birgunj customs office had issued a notice requesting the importer to do the custom clearance. Now, the frequency of trucks have increased comparatively. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">However, the lockdown in India has decreased the import from roadways, said Dhundi Prashad Niraula. Previously, on an average day, around 600-700 vehicles used to enter the border, but only 37 vehicles entered on Monday. Meanwhile, cargo transportation via train has increased. Currently, 2,200 containers filled with supply and 400 empty containers are stockpiled at Birgunj dry port. </span></span></span></p> <p><br /> </p> <p> </p> ', 'published' => true, 'created' => '2020-04-02', 'modified' => '2020-04-02', 'keywords' => '', 'description' => '', 'sortorder' => '11613', 'image' => '20200402100050_1585693075 copy.jpg', 'article_date' => '2020-04-02 09:57:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 12 => array( 'Article' => array( 'id' => '11858', 'article_category_id' => '1', 'title' => 'COVID-19 is Worst Crisis since World War II: UN chief ', 'sub_title' => '', 'summary' => 'April 1: UN Secretary-General Antonio Guterres warned Tuesday that the world faces the most challenging crisis since World War II.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Times">April 1: UN Secretary-General Antonio Guterres warned Tuesday that the world faces the most challenging crisis since World War II, confronting a pandemic threatening people in every country, one that will bring a recession “that probably has no parallel in the recent past”, the Associated Press reported.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">According to the news agency, the UN chief said at the launch of a report on the socioeconomic impacts of COVID-19 that there is also a risk that the combination of the disease and its economic impact will contribute to “enhanced instability, enhanced unrest, and enhanced conflict”.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">Guterres reportedly called for a much stronger and more effective global response to the coronavirus pandemic and to the social and economic devastation that COVID-19 is causing. He stressed that this will only be possible “if everybody comes together and if we forget political games and understand that it is humankind that is at stake.”</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">“We are facing a global health crisis unlike any in the 75-year history of the United Nations — one that is killing people, spreading human suffering, and upending people’s lives,” the report said. “But this is much more than a health crisis. It is a human crisis. The coronavirus disease (COVID-19) is attacking societies at their core.”</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">According to AP, the secretary-general told reporters that the magnitude of the response must match the scale of the crisis — large-scale, coordinated and comprehensive, with country and international responses being guided by the World Health Organization.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">He further said that many countries were not respecting WHO guidelines, with each tending to go its own way in dealing with the pandemic.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">“Let us remember that we are only as strong as the weakest health system in our interconnected world,” he said. “It is essential that developed countries immediately assist those less developed to bolster their health systems and their response capacity to stop transmission,” AP quoted him as saying.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">According to the UN Secretary-General, while $5 trillion has been mobilized, most of that money was by the developed world — including $2 trillion in the United States — to support their own economies from the consequences of the pandemic.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">“We are far from having a global package to help the developing world to create the conditions both to suppress the disease and to address the dramatic consequences in their populations, in the people that lost their jobs, the small companies that are operating and risk to disappear, those that live with the informal economy that now have no chance to survive,” he said. “Massive support to the developing world is still required.”</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">According to AP, the report also cites International Labor Organization estimates for 2020 that between 5 million and 25 million jobs will be lost, with a corresponding loss of between $860 million and $3.4 trillion in labor income. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">It also cited an estimate by the U.N. trade and development organization UNCTAD of a 30-40 percent “downward pressure" on global foreign direct investment flows this year.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">Guterres announced the establishment of a COVID-19 Response and Recovery Fund to support efforts in low- and middle-income countries, with the aim of swiftly enabling governments to tackle the crisis and promote recovery.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-04-01', 'modified' => '2020-04-01', 'keywords' => '', 'description' => '', 'sortorder' => '11612', 'image' => '20200401114957_NICA-768874-Guterres.jpg', 'article_date' => '2020-04-01 11:48:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 13 => array( 'Article' => array( 'id' => '11861', 'article_category_id' => '1', 'title' => 'Nepal Gas Industry Distributing LPGs ', 'sub_title' => '', 'summary' => 'April 1: The Nepal Gas Industry (NGI) is preparing to distribute liquefied petroleum gas (LPG) from Wednesday at six various locations.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Arial">April 1: The Nepal Gas Industry (NGI) is preparing to distribute liquefied petroleum gas (LPG) from Wednesday at six various locations.</span><br /> <span style="font-family:Arial">The company said in a statement that it will distribute the LPG from six new locations instead from Balaju Industrial Estate. The company said it decided to decentralize its distribution centres to address the problems of the consumers, who have been complaining of difficulty in refilling their cylinders due to the lockdown imposed by the government.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Arial">Gokul Bhandari, executive director of Nepal Gas Industry, informed that the company will distribute LPGs for three consecutive days from six different location in Kathmandu.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Arial">“Considering the current crisis caused by coronavirus, consumers are not able to collect the LPGs from our main distribution center. That’s why we are distributing it from six various locations,” he informed. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Arial">He said that the company will distribute 560 LPG cylinders from two locations every day.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Arial">The company will distribute the LPGs under the supervision of Nepal Police. The LPGs were distributed at Chabahil and Bafal on Wednesday, and the company plans to distribute them at Baniyatar and Koteshwar on Thursday and Bhanimandal and Maharajgunj on Friday. -- RSS</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-04-01', 'modified' => '2020-04-01', 'keywords' => '', 'description' => '', 'sortorder' => '11611', 'image' => '20200401060730_1585670358.jpg', 'article_date' => '2020-04-01 18:06:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 14 => array( 'Article' => array( 'id' => '11865', 'article_category_id' => '1', 'title' => 'Food Supplies Distributed to Deprived Families ', 'sub_title' => '', 'summary' => 'April 2: Surkhet Chamber of Commerce and Industries has distributed food supplies to deprived families of Ward no 4 and 6 of Birendranagar. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Mangal","serif"">April 2: Surkhet Chamber of Commerce and Industries has distributed food supplies to deprived families of Ward no 4 and 6 of Birendranagar. Laxman Kadel, general secretary of Surkhet Chamber of Commerce and Industries said that the food supply was distributed to the family members of local labors who were hard hit by the lockdown imposed by the government to prevent the spread of coronavirus.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Mangal","serif"">Food supplies worth Rs 80,000, and total of Rs 50,500 cash were distributed among the family members of the labourers. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-04-02', 'modified' => '2020-04-02', 'keywords' => '', 'description' => '', 'sortorder' => '11610', 'image' => '20200402113737_1585713561.jpg', 'article_date' => '2020-04-02 11:36:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ) ) $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
