November 8: Police have arrested former assistant minister Roop Jyoti, who is the vice president of Jyoti…
November 8: Police have arrested former assistant minister Roop Jyoti, who is the vice president of Jyoti…
November 7: Chinese smartphone brand OPPO recently announced the launch of a 5G joint laboratory with Ericsson, a leading information and communication technology provider.…
November 7: Nepal Clearing House Ltd (NCHL) has been awarded with “Certificate of Merit” for the year 2018 in the category Public Sector Entities under the ‘SAFA Best Presented Annual Report Awards’, according to a statement issued by…
November 7: Khalti Digital Wallet and Lord Buddha Education Foundation (LBEF) have signed a strategic partnership agreement to provide internship and job placement opportunities to E-Business and IT students.…
November 7: North Korean investors have not come into contact with the Department of Industries even after missing the deadline given by the department to take back their investment from…
November 7: A probe committee formed to investigate the allegations of irregularities against suspended deputy governor of Nepal Rastra Bank, Shiva Raj Shrestha, has decided to seek files signed by Shrestha from all the concerned departments of the central…
November 7: The formation of the proposed Revenue Board is likely to get delayed due to differences between the Ministry of Finance and the Ministry of Law.…
November 7: Cash-strapped Nepal Airlines Corporation has announced to operate flights to three new international destinations within the next four…
November 7: The government has formed a three-member committee to select the chairman of the Securities Board of Nepal (SEBON), which has been lying vacant since October…
November 6: Chief Minister of Province-3 Dormani Paudel initiated the “ground breaking ceremony” for establishment of a flagship Nepal-Bharat Maitri Polytechnic at Hetauda in Makwanpur district on Tuesday, November…
November 6: Nepal Rastra Bank has directed microfinance companies to form anti-money laundering committees.…
November 6: Chief Executive Officer of Nepal Investment Bank Limited (NIBL) Jyoti Prakash Pandey and Chairman of UnionPay International Co Ltd Cai Jianbo have announced to launch NIBL UnionPay Card products in the Nepali market…
November 6: Samsung has announces “Power of 10” offer to celebrate 10 years of its smartphone…
November 6: Nepali businessmen have been forced to pay heavy price for transportation of goods for overseas business as the foreign shipping companies fall outside the ambit of the country’s…
November 6: Tribhuvan International Airport (TIA) has prepared a work plan for reopening duty-free shop at the airport.…
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Police nabbed him from Tribhuvan International Airport while he was returning home from Singapore.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">He has been accused of fraudulent act in land transaction.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">About a year ago, the Kathmandu District Court had issued an arrest warrant against Jyoti in a fraud case in housing project . The Supreme Court had issued a interim order not to arrest Jyoti. However, the apex court on Tuesday issued a verdict against his favour after which the police arrested Jyoti.</span></span></p> ', 'published' => true, 'created' => '2019-11-08', 'modified' => '2019-11-08', 'keywords' => '', 'description' => '', 'sortorder' => '11380', 'image' => '20191108122721_aaaa.jpg', 'article_date' => '2019-11-08 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 1 => array( 'Article' => array( 'id' => '11629', 'article_category_id' => '237', 'title' => 'OPPO and Ericsson Launch 5G Joint Lab to Strengthen Collaboration ', 'sub_title' => '', 'summary' => 'November 7: Chinese smartphone brand OPPO recently announced the launch of a 5G joint laboratory with Ericsson, a leading information and communication technology provider. ', 'content' => '<p>November 7: Chinese smartphone brand OPPO recently announced the launch of a 5G joint laboratory with Ericsson, a leading information and communication technology provider. This partnership will serve to deepen the two companies’ collaboration in the area of 5G, OPPO said in a statement. <br /> Through the new lab, OPPO and Ericsson will also promote global collaboration, share with each other cutting-edge 5G technologies and help optimize 5G products and network performance to accelerate the large-scale deployment of 5G globally. </p> <p> “We are very excited to launch our 5G joint lab with Ericsson. The initiative leverages Ericsson’s advantages in 5G network and infrastructure technologies and its global operator channels with OPPO’s experience and expertise in 5G standards development, technologies, products and application scenarios,” said Andy Wu, vice president of OPPO and president of Software Engineering Department at the company. </p> <p>“We will work together to embrace the challenges and opportunities ahead in the 5G era in order to provide better 5G products and experiences for consumers around the world.”</p> <p>Luca Orsini, vice president and head of Networks for Market Area North East Asia at Ericsson said, “This partnership is of highly strategic importance for both Ericsson and OPPO. It will contribute to the diversity of the 5G ecosystem and benefit from the agility of both companies to bring new use cases and customer value to the market.”</p> <p>The statement said that OPPO and Ericsson have been working closely to contribute to the evolution of 5G technologies and have also signed a global patent license agreement, laying a solid foundation for their ongoing, in-depth collaboration in the 5G era. </p> <p>Since the third quarter of 2018, the two partners have been running joint 5G tests on OPPO’s 5G handset and Ericsson’s 5G infrastructure with local operator partners in Sweden, Germany and China as part of an effort to accelerate the commercial availability of 5G products. <br /> At MWC 2019 earlier this year, OPPO and Ericsson also partnered to showcase 5G smartphones and cloud-gaming scenarios to attendees.</p> <p>In the new era of 5G intelligent connectivity, OPPO said it will continue to invest in product development, technological research, standards and application scenarios for 5G and work with leading partners like Ericsson to explore the tremendous potential of 5G and bring its innovation value to consumers around the world.</p> ', 'published' => true, 'created' => '2019-11-07', 'modified' => '2019-11-07', 'keywords' => '', 'description' => '', 'sortorder' => '11379', 'image' => '20191107121801_OPPO Ericsson.jpg', 'article_date' => '2019-11-07 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 2 => array( 'Article' => array( 'id' => '11628', 'article_category_id' => '266', 'title' => 'NCHL to receive SAFA BPA Award', 'sub_title' => '', 'summary' => 'November 7: Nepal Clearing House Ltd (NCHL) has been awarded with “Certificate of Merit” for the year 2018 in the category Public Sector Entities under the ‘SAFA Best Presented Annual Report Awards’, according to a statement issued by NCHL. ', 'content' => '<p>November 7: Nepal Clearing House Ltd (NCHL) has been awarded with “Certificate of Merit” for the year 2018 in the category Public Sector Entities under the ‘SAFA Best Presented Annual Report Awards’, according to a statement issued by NCHL. </p> <p>The company said that the award is conferred on the basis of the evaluation administered by South Asian Federation of Accountants (SAFA) committee for Improvement in transparency, accountability and governance, of the published annual reports from South Asian Countries. <br /> The award will be distributed by SAFA at a ceremony on November 30 in Dhaka, Bangaladesh.<br /> The NCHL’s annual report and disclosures was earlier recognized by the Institutes of Chartered Accountants of Nepal (ICAN) for BPA award in Nepal as the 1st runner-up. And then the annual report was forwarded to SAFA by ICAN for the award evaluation within the SAARC region, the statement added.<br /> NCHL said it considers the award as the recognition of its efforts being made within the industry and the demonstrated commitment towards the financial disclosures and transparencies.<br /> NCHL is a public limited company promoted by Nepal Rastra Bank, banks and financial institutions and Smart Choice Technologies Ltd for establishing multiple national payment systems in Nepal. It has been operating NCHL-ECC, NCHL-IPS and connectIPS e-Payment systems.<br /> </p> ', 'published' => true, 'created' => '2019-11-07', 'modified' => '2019-11-07', 'keywords' => '', 'description' => '', 'sortorder' => '11378', 'image' => '20191107121022_Clipboard01.jpg', 'article_date' => '2019-11-07 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 3 => array( 'Article' => array( 'id' => '11627', 'article_category_id' => '266', 'title' => 'Khalti Signs Agreement with LBEF to Provide Internships and Job Placements to E-Business Students', 'sub_title' => '', 'summary' => 'November 7: Khalti Digital Wallet and Lord Buddha Education Foundation (LBEF) have signed a strategic partnership agreement to provide internship and job placement opportunities to E-Business and IT students. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Arial,sans-serif"><span style="font-family:"Times New Roman","serif"">November 7: </span></span></span><span style="font-size:11pt"><span style="font-family:Arial,sans-serif"><span style="font-family:"Times New Roman","serif"">Khalti Digital Wallet and Lord Buddha Education Foundation (LBEF) have signed a strategic partnership agreement to provide internship and job placement opportunities to E-Business and IT students. Manish Modi, managing director of Khalti, and Pankaj Jalan, chairman of LBEF, signed the agreement amid a function in Kathmandu on Wednesday, November 6.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,sans-serif"><span style="font-family:"Times New Roman","serif"">As per the agreement, the final year students and fresh graduates of LBEF can apply for an internship at Khalti. After a brief internship period, they will be recruited to work full-time at the company. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,sans-serif"><span style="font-family:"Times New Roman","serif"">Furthermore, Khalti said it will provide a flexible work schedule so that the students do not have to miss their classes and also will provide leaves during exams or any other important projects, in consultation with the college.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,sans-serif"><span style="font-family:"Times New Roman","serif"">Likewise, LBEF will provide special scholarships to the employees of Khalti who wish to join Master’s degree programme at the college. This collaboration between Khalti and LBEF is expected to set an example of industry-academia partnership in Nepal, reads the statement.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,sans-serif"><span style="font-family:"Times New Roman","serif"">Speaking about the agreement, Khalti’s MD Modi, shared, “We consider this collaboration as a win-win situation for both Khalti and LBEF students. One of the main agendas of both institutions is to develop the IT industry of Nepal. This collaboration will bring synergy to both institutions. We are hopeful that we will be enriching the student experience effectively and appropriately and at the same time, increasing the quality of workforce in the company.”</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,sans-serif"><span style="font-family:"Times New Roman","serif"">Likewise, Pankaj Jalan of LBEF said, “We are excited to sign this strategic partnership with Khalti. Khalti as a brand is aligned with our mission, culture and values of promoting the IT industry of Nepal.”</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,sans-serif"><span style="font-family:"Times New Roman","serif"">Started in January 2017, Khalti is an emerging mobile payment solution in Nepal. So far, Khalti’s service has reached 70 districts of Nepal and it is working to enable people in the remotest corners of the nation to use digital payment service, the statement added. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,sans-serif"><span style="font-family:"Times New Roman","serif"">Lord Buddha Education Foundation (LBEF) claimed itself to be the first college in Nepal to launch IT courses.</span></span></span></p> ', 'published' => true, 'created' => '2019-11-07', 'modified' => '2019-11-07', 'keywords' => '', 'description' => '', 'sortorder' => '11377', 'image' => '20191107120515_aaaa.jpg', 'article_date' => '2019-11-07 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 4 => array( 'Article' => array( 'id' => '11625', 'article_category_id' => '1', 'title' => 'North Korean Investors do not Show up Despite Repeated Calls', 'sub_title' => '', 'summary' => 'November 7: North Korean investors have not come into contact with the Department of Industries even after missing the deadline given by the department to take back their investment from Nepal.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:18.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">November 7: North Korean investors have not come into contact with the Department of Industries even after missing the deadline given by the department to take back their investment from Nepal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:18.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The department had written its third letter to the North Korean Embassy in Kathmandu on October 20 to take back investments made by Korean nationals within two weeks. Likewise, on September 16, the department had asked the North Korean investors to take back their investment within 45 days. But the requests have fallen in deaf ears.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:18.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">As the North Korean investors did not show up, the department has already written a letter to the Ministry of Industries informing it about the latest development.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:18.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The ministry has sought details regarding this issue from the department. The department replied on November 2 that not a single North Korean company has come into contact with it.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:18.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">“They have not come into contact despite our repeated calls,” said Jeevan Prasad Luitel, director general of the department.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:18.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Luitel said they will now initiate the process to shut down the companies having investment of North Koreans. The department has also decided to recommend not to extend the visa of the North Korean investors, which might then force them to return back. But this requires further discussions with the Ministry of Home Affairs and the Ministry of Industries, he further said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:18.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Data at the department show that North Korean investors have been investing in Nepal since the last 23 years. Currently, there are nine businesses operating with North Korean investment. Among them, six are hotels and restaurants, two are IT companies and one hospital. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:18.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The government’s decision to ask North Korean to take back their investment comes after renewed calls of the United Nations Security Council, which had decided to impose sanctions on North Korea on May 11, 1993 for its active involvement in pursuing nuclear ambitions and missile tests.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:18.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The UN Security Council decided to impose more sanctions including economic sanctions on December 22, 2018 after it stepped up its activities to enrich nuclear energy.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:18.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The UN had written a letter to the Ministry of Foreign Affairs to shut down industries operating with North Korean investment. Based on the letter, the government decided to clamp down the businesses backed by North Korean investment.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2019-11-07', 'modified' => '2019-11-07', 'keywords' => '', 'description' => '', 'sortorder' => '11376', 'image' => '20191107104555_Clipboard01.jpg', 'article_date' => '2019-11-07 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 5 => array( 'Article' => array( 'id' => '11624', 'article_category_id' => '1', 'title' => 'Probe Committee Seeks Files Signed by Suspended Dy Governor', 'sub_title' => '', 'summary' => 'November 7: A probe committee formed to investigate the allegations of irregularities against suspended deputy governor of Nepal Rastra Bank, Shiva Raj Shrestha, has decided to seek files signed by Shrestha from all the concerned departments of the central bank.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 7: A probe committee formed to investigate the allegations of irregularities against suspended deputy governor of Nepal Rastra Bank, Shiva Raj Shrestha, has decided to seek files signed by Shrestha from all the concerned departments of the central bank.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The three-member probe committee will start its investigation by collecting all the files signed by Shrestha. Of late, Shrestha had been looking after eight department of the central bank. In order to see what kinds of decision he took, the probe committee headed by Shreeram Poudel has sought the files from all eight departments. A member of the committee told New Business Age that they will hand over the letters to all the departments by Thursday.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Deputy Governor Shrestha was handed the vital Department of Regulation and Supervision.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“So far, the Department of Banks and Financial Institutions has presented the files. Now we will seek files from other departments,” said the member requesting not to be named.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“It seems that it will take some time to receive all the files signed by Shrestha in the last three years,” said the source.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Shrestha has been accused of favouring Ncell in a sub judice case at the Supreme Court and also of helping banks and financial institutions to conceal bad loans. He reportedly helped Ncell take away its dividends by signing a file in the absence of another deputy governor, Chintamani Shivakoti.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“So far, we have found that Shivakoti was absent on 24 occasions due to his field trips and foreign visits. We are seeking files signed by Shrestha in his absence,” said the committee member.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">He is also accused of presenting forged bills during his official visits abroad.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">A source at the department said that Shrestha was against anti-money laundering.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">A cabinet meeting on October 17 had decided to take action against Shestha as per the recommendation of the Anti Money Laundering Department of NRB. The government then instructed the central bank to investigate Shrestha’s involvement in irregularities by abusing his power as the deputy governor of NRB. A board meeting of the central bank subsequently formed the probe committee on November 4 after which Shrestha was automatically suspended from his post as per Article 22 of the Nepal Rastra Bank Act 2058. Other members of the committee are Dr Subodh Kumar Karna and Ramji Regmi.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2019-11-07', 'modified' => '2019-11-07', 'keywords' => '', 'description' => '', 'sortorder' => '11375', 'image' => '20191107101753_20190513011832_NRB Facebook.jpg', 'article_date' => '2019-11-07 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 6 => array( 'Article' => array( 'id' => '11623', 'article_category_id' => '1', 'title' => 'Law Ministry at Loggerheads with Finance Ministry regarding formation of Revenue Board', 'sub_title' => '', 'summary' => 'November 7: The formation of the proposed Revenue Board is likely to get delayed due to differences between the Ministry of Finance and the Ministry of Law. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 7: The formation of the proposed Revenue Board is likely to get delayed due to differences between the Ministry of Finance and the Ministry of Law. The law ministry has objected to the draft sent by the finance ministry in accordance to the Development Committee Act.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The law ministry has sought explanation from the finance ministry for preparing the draft under the Development Committee Act. The Ministry of Law is of the view that preparing the draft using this particular Act would make the Revenue Board temporary in nature. Therefore, the draft of the Revenue Board which was forwarded to the law ministry before Dashain has been gathering dust.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Meanwhile, the finance ministry has said that the law ministry cannot block the implementation of the programme mentioned in the annual budget.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“The draft proposed by the finance ministry has long-term objectives. However, if the process of forming the board is temporary, the board itself can be scrapped by a government decision. We believe that it would be better to form the board of permanent nature,” said an official at the law ministry requesting anonymity.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Officials at the law ministry informed New Business Age that they held discussions with the finance ministry officials but were not able to reach to a conclusion.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“We held discussions with the officials of finance ministry. We demanded explanation for preparing the draft of the formation of the Revenue Board in accordance to the Development Committee Act. The draft is in hold as we could not get a satisfactory answer,” said the highly-placed source.</span></span></p> ', 'published' => true, 'created' => '2019-11-07', 'modified' => '2019-11-07', 'keywords' => '', 'description' => '', 'sortorder' => '11374', 'image' => '20191107095500_aaaadfg.jpg', 'article_date' => '2019-11-07 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 7 => array( 'Article' => array( 'id' => '11622', 'article_category_id' => '1', 'title' => 'NAC Announces 3 New International Destinations', 'sub_title' => '', 'summary' => 'November 7: Cash-strapped Nepal Airlines Corporation has announced to operate flights to three new international destinations within the next four months.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 7: Cash-strapped Nepal Airlines Corporation has announced to operate flights to three new international destinations within the next four months.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The state-owned airline company, which has come under fire for under-utilization of two newly procured wide-body aircraft, said it will operate flights to Japan’s Narita, Saudi Arabia’s Riyad and China’s Guangzhou by February this year.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Speaking at a press conference organized by NAC on Wednesday, Chairman Madan Kharel said that the flag carrier of Nepal will start operating flights to the new destinations as soon as the concerned bodies given them the permission.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">However, NAC is not likely to start flights to these destinations so soon, as claimed by the airline company. The airline company had earlier announced that it would operate flights to Narita and Guangzhou by December this year.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">China’s Safety Audit team must first monitor Nepal’s aviation sector and then approve the flights. The team is arriving in Kathmandu in December.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Meanwhile, the process of appointing General Sales Agent (GSA) for Riyad flights has reached the final stage. The process to initiate flight operation will begin only after finalizing the GSA.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">NAC has also announced it has started process to begin flights to seven other destinations including Beijing, Shanghai, Dhaka, Yangon, Hanoi, Phnom Penh and Colombo.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">During the press conference, NAC Chairman Kharel said that the airline company has adopted a strategy to reduce operation cost and will be saving Rs 2 billion in unnecessary spending within the current fiscal year.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Areas of austerity measures include air turbine fuel (ATF), overflight, hotel, engineering, corporate, safety among others, Kharel said.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“Lots of works of the engineering department are now being carried by the local manpower. This will help us reduce our operational cost,” said Kharel.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">He further said that arrangement has been made so that the aircraft will not have to carry extra fuel. He also said they are planning to change the current route to save fuel.</span></span></p> ', 'published' => true, 'created' => '2019-11-07', 'modified' => '2019-11-07', 'keywords' => '', 'description' => '', 'sortorder' => '11373', 'image' => '20191107091630_20180727021334_2.jpg', 'article_date' => '2019-11-07 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 8 => array( 'Article' => array( 'id' => '11626', 'article_category_id' => '1', 'title' => 'Government Forms Committee to Select New Chairman of SEBON', 'sub_title' => '', 'summary' => 'November 7: The government has formed a three-member committee to select the chairman of the Securities Board of Nepal (SEBON), which has been lying vacant since October 17.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 7: The government has formed a three-member committee to select the chairman of the Securities Board of Nepal (SEBON), which has been lying vacant since October 17.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The committee under the coordination of National Planning Commission Member DrRam Kumar Phuyal was formed on Wednesday (November 6) after the Council of Ministers on Tuesday instructed the NPC to select SEBON’s chair in coordination with the finance minstry.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Revenue secretary at the Ministry of Finance, Sishir Dhungana, and an independent expert – Krishna Acharya – are the other members of the committee.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The post is lying vacant after the term of the then chairman Rewat Bahadur Karki expired on October 17.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">A member of the committee told New Business Age that they will select a capable, experienced and dynamic person who can handle the responsibilities of SEBON.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">However, the committee is yet to decide whether to call a public notice or adopt other process to select the new chairman.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">SEBON’s officials, former executive directors of Nepal Rastra Bank and former chairpersons of ICAN are lobbying for the post. SEBON’s Executive Director Niraj Giri, who has been working with SEBON since the last 23 years is likely to vie for the post.</span></span></p> ', 'published' => true, 'created' => '2019-11-07', 'modified' => '2019-11-07', 'keywords' => '', 'description' => '', 'sortorder' => '11372', 'image' => '20191107114440_adfaf.jpg', 'article_date' => '2019-11-07 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 9 => array( 'Article' => array( 'id' => '11621', 'article_category_id' => '1', 'title' => 'Nepal-Bharat Maitri Polytechnic in Hetauda to Complete in 2 Years', 'sub_title' => '', 'summary' => 'November 6: Chief Minister of Province-3 Dormani Paudel initiated the “ground breaking ceremony” for establishment of a flagship Nepal-Bharat Maitri Polytechnic at Hetauda in Makwanpur district on Tuesday, November 5.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 6: Chief Minister of Province-3 Dormani Paudel initiated the “ground breaking ceremony” for establishment of a flagship Nepal-Bharat Maitri Polytechnic at Hetauda in Makwanpur district on Tuesday, November 5.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The polytechnic institute in Hetauda is a state-of-the-art infrastructure project in the area of vocational training and is being built under the India-Nepal Development Partnership with Indian grant of IRs 385.3 million, the Indian Embassy said in a statement.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The statement added that the total built up area of the polytechnic project would be 19,200 square meters. The facility will include an administrative block, academic block, auditorium, library, workshop, multipurpose hall, separate hostels for boys and girls, principal and staff residences and amenities for sports and communities. The project is expected to be completed in two years.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“Today's ground breaking ceremony for construction of the Nepal-Bharat Maitiri Polytechnic at Hetauda is another testimony of friendly relations between India and Nepal and also India's commitment to work with Nepal to complement efforts of Government of Nepal to strengthen infrastructure in the vocational and skill development sector in Nepal,” the statement added.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2019-11-06', 'modified' => '2019-11-06', 'keywords' => '', 'description' => '', 'sortorder' => '11371', 'image' => '20191106021016_aaaa.jpg', 'article_date' => '2019-11-06 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 10 => array( 'Article' => array( 'id' => '11620', 'article_category_id' => '1', 'title' => 'NRB Directs Microfinance Companies to form Anti-Money Laundering Committees', 'sub_title' => '', 'summary' => 'November 6: Nepal Rastra Bank has directed microfinance companies to form anti-money laundering committees. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 6: Nepal Rastra Bank has directed microfinance companies to form anti-money laundering committees. The central bank took such decision as it intensifies its anti-money laundering drive, which until now did not cover the microfinance companies.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Dr Prakash Kumar Shrestha, executive director of the Microfinance Supervision Department of NRB, said that it is mandatory for the microfinance companies to form such committees.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“The central bank has issued clear directives related to its anti-money laundering drive,” said Shrestha.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">He clarified that this measure was taken to ensure that the money earned through illegal means would not enter the banking channel.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The central bank has also made provision for microfinance companies to issue notice to blacklist bad debtors. Microfinance companies can now recommend blacklisting debtors who do not pay loan. Microfinances could not enjoy this facility before.</span></span></p> ', 'published' => true, 'created' => '2019-11-06', 'modified' => '2019-11-06', 'keywords' => '', 'description' => '', 'sortorder' => '11370', 'image' => '20191106015703_20190719115911_NRB-_-image.jpg', 'article_date' => '2019-11-06 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 11 => array( 'Article' => array( 'id' => '11619', 'article_category_id' => '218', 'title' => 'NIBL to partner with China’s UnionPay International to launch cards acceptable worldwide', 'sub_title' => '', 'summary' => 'November 6: Chief Executive Officer of Nepal Investment Bank Limited (NIBL) Jyoti Prakash Pandey and Chairman of UnionPay International Co Ltd Cai Jianbo have announced to launch NIBL UnionPay Card products in the Nepali market soon.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">November 6: Chief Executive Officer of Nepal Investment Bank Limited (NIBL) Jyoti Prakash Pandey and Chairman of UnionPay International Co Ltd Cai Jianbo have announced to launch NIBL UnionPay Card products in the Nepali market soon.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Targeting its customers visiting China for business or leisure, NIBL has plans to launch debit, credit, pre-paid travel cards and QR codes. It is reported that NIBL UnionPayCardholders can easily withdraw cash with NIBL UnionPay Cards while these cards can also be used for shopping, payments at hotels, restaurants etc in Nepal, China and worldwide, NIBL said in a statement. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">NIBL’s CEO Pandey informed that the NIBL-UnionPay International collaboration was initiated focusing on the government’s upcoming - Visit Nepal Year 2020 campaign.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">According to the statistics of Nepal Tourism Board, 153,633 Chinese tourists visited Nepal in 2018. Meanwhile, 300,000 Chinese tourists are expected to visit Nepal during Visit Nepal Year 2020.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">UnionPay International, which was established in 2012 in Shanghai, China, has been offering its services in 177 countries all around the world.</span></span></span></p> ', 'published' => true, 'created' => '2019-11-06', 'modified' => '2019-11-06', 'keywords' => '', 'description' => '', 'sortorder' => '11369', 'image' => '20191106014307_aadfaf.jpg', 'article_date' => '2019-11-06 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 12 => array( 'Article' => array( 'id' => '11618', 'article_category_id' => '237', 'title' => 'Samsung Offers Discount on Galaxy Buds', 'sub_title' => '', 'summary' => 'November 6: Samsung has announces “Power of 10” offer to celebrate 10 years of its smartphone launch.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Tahoma","sans-serif"">November 6: Samsung has announces “Power of 10” offer to celebrate 10 years of its smartphone launch. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Tahoma","sans-serif"">Under this scheme, the customers who buy Galaxy Note10/Note10+ and S10/S10+ will be eligible to get Galaxy Buds at 51 percent discount.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Tahoma","sans-serif"">The customers can get the Galaxy Buds at a discount rate of Rs 6,990, the company said in a statement.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Tahoma","sans-serif"">The offer will be valid from November 3 to December 15. </span></span></span></span></p> ', 'published' => true, 'created' => '2019-11-06', 'modified' => '2019-11-06', 'keywords' => '', 'description' => '', 'sortorder' => '11368', 'image' => '20191106013702_aaaa.jpg', 'article_date' => '2019-11-06 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 13 => array( 'Article' => array( 'id' => '11617', 'article_category_id' => '1', 'title' => 'Transshipment Cost Rising due to Lack of Regulation', 'sub_title' => '', 'summary' => 'November 6: Nepali businessmen have been forced to pay heavy price for transportation of goods for overseas business as the foreign shipping companies fall outside the ambit of the country’s law.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 6: Nepali businessmen have been forced to pay heavy price for transportation of goods for overseas business as the foreign shipping companies fall outside the ambit of the country’s law.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The importers blame the government’s inefficiency and lack of effective measures for the random charges shipping companies have been imposing on Nepali businessmen. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The transportation cost via Kolkata Port, which is extensively used by Nepali importers for overseas trade, has surprisingly increased after the two countries initiated a number of measures to facilitate the flow of goods including the electronic cargo tracking system, says Ashok Kumar Temani, chairperson of the Transportation and Transshipment Committee of the Federation of Nepalese Chambers of Commerce and Industries (FNCCI).</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“The transportation cost increased after implementation of direct transshipment of goods between the two countries via Kolkata,” said Temani.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“We were expecting to reduce both time and cost after implementing this mode of transportation but the result was exactly the opposite,” he added.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The government has said it will formulate laws to bring the shipping companies under its regulation. However, there are doubts that the laws can regulate the companies which have a worldwide network.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Not just Nepal, but India itself is a victim of monopoly of the shipping companies, complain officials at Kolkata Port.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Importers on the other hand say that the shipping companies have been charging freight charge, railway charge, terminal holding charge, ECTS charge among others at their whims.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Container Corporation of India Ltd (CONCOR) has set a uniform price for all shipping companies but such companies have been charging different rates to Nepali importers, says Amrit Shrestha, a Kolkata-based customs house agent.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Kolkata Port had initiated Direct Transshipment for Nepali goods on February 15 earlier this year. To facilitate this system, the customs office of the port had made it mandatory to implement the ECTS. However, the High Court of Kolkata made this process non-binding.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Nepal’s consul general to Kolkata Eknarayan Aryal says that the foreign shipping companies will also be brought under regulation once the government formulates laws.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“The government has expedited the process to formulate laws,” said Aryal, adding, “We have adopted a strategy to increase competition among the shipping companies to reduce the cost.” </span></span></p> ', 'published' => true, 'created' => '2019-11-06', 'modified' => '2019-11-06', 'keywords' => '', 'description' => '', 'sortorder' => '11367', 'image' => '20191106012745_Kolkata.jpg', 'article_date' => '2019-11-06 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 14 => array( 'Article' => array( 'id' => '11616', 'article_category_id' => '1', 'title' => 'Government to Reopen Duty-Free Shop at TIA', 'sub_title' => '', 'summary' => 'November 6: Tribhuvan International Airport (TIA) has prepared a work plan for reopening duty-free shop at the airport. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 6: Tribhuvan International Airport (TIA) has prepared a work plan for reopening duty-free shop at the airport. TIA has already submitted the work plan after conducting a detailed study in this regard.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Two months ago, Minister for Culture, Tourism and Civil Aviation Yogesh Bhattarai had asked the airport authorities to prepare a list of items required for reopening the duty-free shop at TIA.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Ministry of Culture, Tourism and Civil Aviation has decided to reopen the duty-free shop at TIA after 11 years. Sources at the ministry informed New Business Age that the ministry decided to reopen the duty-free shop at the international terminal of TIA as per the demands of foreign visitors as well as Nepali travelers.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Following the minister’s instructions, the airport management had formed a committee to study the prospect of duty-free shop at TIA. Spokesperson for the TIA Pratap Babu Tiwari said that they submitted the work plan prepared by the same committee to the ministry.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">He said that further action will be taken after holding discussion on the work plan submitted by the airport. The duty free shop was closed by the government led by Baburam Bhattarai in 2008. </span></span></p> ', 'published' => true, 'created' => '2019-11-06', 'modified' => '2019-11-06', 'keywords' => '', 'description' => '', 'sortorder' => '11366', 'image' => '20191106122050_aadsffg.jpg', 'article_date' => '2019-11-06 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, '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' => '11634', 'article_category_id' => '1', 'title' => 'Police Arrest Industrialist Roop Jyoti', 'sub_title' => '', 'summary' => 'November 8: Police have arrested former assistant minister Roop Jyoti, who is the vice president of Jyoti Group.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 8: Police have arrested former assistant minister Roop Jyoti, who is the vice president of Jyoti Group.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Metropolitan Police on Thursday arrested Jyoti on fraud charge. Police nabbed him from Tribhuvan International Airport while he was returning home from Singapore.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">He has been accused of fraudulent act in land transaction.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">About a year ago, the Kathmandu District Court had issued an arrest warrant against Jyoti in a fraud case in housing project . The Supreme Court had issued a interim order not to arrest Jyoti. However, the apex court on Tuesday issued a verdict against his favour after which the police arrested Jyoti.</span></span></p> ', 'published' => true, 'created' => '2019-11-08', 'modified' => '2019-11-08', 'keywords' => '', 'description' => '', 'sortorder' => '11380', 'image' => '20191108122721_aaaa.jpg', 'article_date' => '2019-11-08 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 1 => array( 'Article' => array( 'id' => '11629', 'article_category_id' => '237', 'title' => 'OPPO and Ericsson Launch 5G Joint Lab to Strengthen Collaboration ', 'sub_title' => '', 'summary' => 'November 7: Chinese smartphone brand OPPO recently announced the launch of a 5G joint laboratory with Ericsson, a leading information and communication technology provider. ', 'content' => '<p>November 7: Chinese smartphone brand OPPO recently announced the launch of a 5G joint laboratory with Ericsson, a leading information and communication technology provider. This partnership will serve to deepen the two companies’ collaboration in the area of 5G, OPPO said in a statement. <br /> Through the new lab, OPPO and Ericsson will also promote global collaboration, share with each other cutting-edge 5G technologies and help optimize 5G products and network performance to accelerate the large-scale deployment of 5G globally. </p> <p> “We are very excited to launch our 5G joint lab with Ericsson. The initiative leverages Ericsson’s advantages in 5G network and infrastructure technologies and its global operator channels with OPPO’s experience and expertise in 5G standards development, technologies, products and application scenarios,” said Andy Wu, vice president of OPPO and president of Software Engineering Department at the company. </p> <p>“We will work together to embrace the challenges and opportunities ahead in the 5G era in order to provide better 5G products and experiences for consumers around the world.”</p> <p>Luca Orsini, vice president and head of Networks for Market Area North East Asia at Ericsson said, “This partnership is of highly strategic importance for both Ericsson and OPPO. It will contribute to the diversity of the 5G ecosystem and benefit from the agility of both companies to bring new use cases and customer value to the market.”</p> <p>The statement said that OPPO and Ericsson have been working closely to contribute to the evolution of 5G technologies and have also signed a global patent license agreement, laying a solid foundation for their ongoing, in-depth collaboration in the 5G era. </p> <p>Since the third quarter of 2018, the two partners have been running joint 5G tests on OPPO’s 5G handset and Ericsson’s 5G infrastructure with local operator partners in Sweden, Germany and China as part of an effort to accelerate the commercial availability of 5G products. <br /> At MWC 2019 earlier this year, OPPO and Ericsson also partnered to showcase 5G smartphones and cloud-gaming scenarios to attendees.</p> <p>In the new era of 5G intelligent connectivity, OPPO said it will continue to invest in product development, technological research, standards and application scenarios for 5G and work with leading partners like Ericsson to explore the tremendous potential of 5G and bring its innovation value to consumers around the world.</p> ', 'published' => true, 'created' => '2019-11-07', 'modified' => '2019-11-07', 'keywords' => '', 'description' => '', 'sortorder' => '11379', 'image' => '20191107121801_OPPO Ericsson.jpg', 'article_date' => '2019-11-07 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 2 => array( 'Article' => array( 'id' => '11628', 'article_category_id' => '266', 'title' => 'NCHL to receive SAFA BPA Award', 'sub_title' => '', 'summary' => 'November 7: Nepal Clearing House Ltd (NCHL) has been awarded with “Certificate of Merit” for the year 2018 in the category Public Sector Entities under the ‘SAFA Best Presented Annual Report Awards’, according to a statement issued by NCHL. ', 'content' => '<p>November 7: Nepal Clearing House Ltd (NCHL) has been awarded with “Certificate of Merit” for the year 2018 in the category Public Sector Entities under the ‘SAFA Best Presented Annual Report Awards’, according to a statement issued by NCHL. </p> <p>The company said that the award is conferred on the basis of the evaluation administered by South Asian Federation of Accountants (SAFA) committee for Improvement in transparency, accountability and governance, of the published annual reports from South Asian Countries. <br /> The award will be distributed by SAFA at a ceremony on November 30 in Dhaka, Bangaladesh.<br /> The NCHL’s annual report and disclosures was earlier recognized by the Institutes of Chartered Accountants of Nepal (ICAN) for BPA award in Nepal as the 1st runner-up. And then the annual report was forwarded to SAFA by ICAN for the award evaluation within the SAARC region, the statement added.<br /> NCHL said it considers the award as the recognition of its efforts being made within the industry and the demonstrated commitment towards the financial disclosures and transparencies.<br /> NCHL is a public limited company promoted by Nepal Rastra Bank, banks and financial institutions and Smart Choice Technologies Ltd for establishing multiple national payment systems in Nepal. It has been operating NCHL-ECC, NCHL-IPS and connectIPS e-Payment systems.<br /> </p> ', 'published' => true, 'created' => '2019-11-07', 'modified' => '2019-11-07', 'keywords' => '', 'description' => '', 'sortorder' => '11378', 'image' => '20191107121022_Clipboard01.jpg', 'article_date' => '2019-11-07 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 3 => array( 'Article' => array( 'id' => '11627', 'article_category_id' => '266', 'title' => 'Khalti Signs Agreement with LBEF to Provide Internships and Job Placements to E-Business Students', 'sub_title' => '', 'summary' => 'November 7: Khalti Digital Wallet and Lord Buddha Education Foundation (LBEF) have signed a strategic partnership agreement to provide internship and job placement opportunities to E-Business and IT students. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Arial,sans-serif"><span style="font-family:"Times New Roman","serif"">November 7: </span></span></span><span style="font-size:11pt"><span style="font-family:Arial,sans-serif"><span style="font-family:"Times New Roman","serif"">Khalti Digital Wallet and Lord Buddha Education Foundation (LBEF) have signed a strategic partnership agreement to provide internship and job placement opportunities to E-Business and IT students. Manish Modi, managing director of Khalti, and Pankaj Jalan, chairman of LBEF, signed the agreement amid a function in Kathmandu on Wednesday, November 6.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,sans-serif"><span style="font-family:"Times New Roman","serif"">As per the agreement, the final year students and fresh graduates of LBEF can apply for an internship at Khalti. After a brief internship period, they will be recruited to work full-time at the company. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,sans-serif"><span style="font-family:"Times New Roman","serif"">Furthermore, Khalti said it will provide a flexible work schedule so that the students do not have to miss their classes and also will provide leaves during exams or any other important projects, in consultation with the college.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,sans-serif"><span style="font-family:"Times New Roman","serif"">Likewise, LBEF will provide special scholarships to the employees of Khalti who wish to join Master’s degree programme at the college. This collaboration between Khalti and LBEF is expected to set an example of industry-academia partnership in Nepal, reads the statement.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,sans-serif"><span style="font-family:"Times New Roman","serif"">Speaking about the agreement, Khalti’s MD Modi, shared, “We consider this collaboration as a win-win situation for both Khalti and LBEF students. One of the main agendas of both institutions is to develop the IT industry of Nepal. This collaboration will bring synergy to both institutions. We are hopeful that we will be enriching the student experience effectively and appropriately and at the same time, increasing the quality of workforce in the company.”</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,sans-serif"><span style="font-family:"Times New Roman","serif"">Likewise, Pankaj Jalan of LBEF said, “We are excited to sign this strategic partnership with Khalti. Khalti as a brand is aligned with our mission, culture and values of promoting the IT industry of Nepal.”</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,sans-serif"><span style="font-family:"Times New Roman","serif"">Started in January 2017, Khalti is an emerging mobile payment solution in Nepal. So far, Khalti’s service has reached 70 districts of Nepal and it is working to enable people in the remotest corners of the nation to use digital payment service, the statement added. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,sans-serif"><span style="font-family:"Times New Roman","serif"">Lord Buddha Education Foundation (LBEF) claimed itself to be the first college in Nepal to launch IT courses.</span></span></span></p> ', 'published' => true, 'created' => '2019-11-07', 'modified' => '2019-11-07', 'keywords' => '', 'description' => '', 'sortorder' => '11377', 'image' => '20191107120515_aaaa.jpg', 'article_date' => '2019-11-07 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 4 => array( 'Article' => array( 'id' => '11625', 'article_category_id' => '1', 'title' => 'North Korean Investors do not Show up Despite Repeated Calls', 'sub_title' => '', 'summary' => 'November 7: North Korean investors have not come into contact with the Department of Industries even after missing the deadline given by the department to take back their investment from Nepal.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:18.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">November 7: North Korean investors have not come into contact with the Department of Industries even after missing the deadline given by the department to take back their investment from Nepal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:18.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The department had written its third letter to the North Korean Embassy in Kathmandu on October 20 to take back investments made by Korean nationals within two weeks. Likewise, on September 16, the department had asked the North Korean investors to take back their investment within 45 days. But the requests have fallen in deaf ears.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:18.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">As the North Korean investors did not show up, the department has already written a letter to the Ministry of Industries informing it about the latest development.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:18.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The ministry has sought details regarding this issue from the department. The department replied on November 2 that not a single North Korean company has come into contact with it.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:18.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">“They have not come into contact despite our repeated calls,” said Jeevan Prasad Luitel, director general of the department.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:18.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Luitel said they will now initiate the process to shut down the companies having investment of North Koreans. The department has also decided to recommend not to extend the visa of the North Korean investors, which might then force them to return back. But this requires further discussions with the Ministry of Home Affairs and the Ministry of Industries, he further said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:18.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Data at the department show that North Korean investors have been investing in Nepal since the last 23 years. Currently, there are nine businesses operating with North Korean investment. Among them, six are hotels and restaurants, two are IT companies and one hospital. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:18.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The government’s decision to ask North Korean to take back their investment comes after renewed calls of the United Nations Security Council, which had decided to impose sanctions on North Korea on May 11, 1993 for its active involvement in pursuing nuclear ambitions and missile tests.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:18.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The UN Security Council decided to impose more sanctions including economic sanctions on December 22, 2018 after it stepped up its activities to enrich nuclear energy.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:18.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The UN had written a letter to the Ministry of Foreign Affairs to shut down industries operating with North Korean investment. Based on the letter, the government decided to clamp down the businesses backed by North Korean investment.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2019-11-07', 'modified' => '2019-11-07', 'keywords' => '', 'description' => '', 'sortorder' => '11376', 'image' => '20191107104555_Clipboard01.jpg', 'article_date' => '2019-11-07 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 5 => array( 'Article' => array( 'id' => '11624', 'article_category_id' => '1', 'title' => 'Probe Committee Seeks Files Signed by Suspended Dy Governor', 'sub_title' => '', 'summary' => 'November 7: A probe committee formed to investigate the allegations of irregularities against suspended deputy governor of Nepal Rastra Bank, Shiva Raj Shrestha, has decided to seek files signed by Shrestha from all the concerned departments of the central bank.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 7: A probe committee formed to investigate the allegations of irregularities against suspended deputy governor of Nepal Rastra Bank, Shiva Raj Shrestha, has decided to seek files signed by Shrestha from all the concerned departments of the central bank.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The three-member probe committee will start its investigation by collecting all the files signed by Shrestha. Of late, Shrestha had been looking after eight department of the central bank. In order to see what kinds of decision he took, the probe committee headed by Shreeram Poudel has sought the files from all eight departments. A member of the committee told New Business Age that they will hand over the letters to all the departments by Thursday.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Deputy Governor Shrestha was handed the vital Department of Regulation and Supervision.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“So far, the Department of Banks and Financial Institutions has presented the files. Now we will seek files from other departments,” said the member requesting not to be named.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“It seems that it will take some time to receive all the files signed by Shrestha in the last three years,” said the source.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Shrestha has been accused of favouring Ncell in a sub judice case at the Supreme Court and also of helping banks and financial institutions to conceal bad loans. He reportedly helped Ncell take away its dividends by signing a file in the absence of another deputy governor, Chintamani Shivakoti.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“So far, we have found that Shivakoti was absent on 24 occasions due to his field trips and foreign visits. We are seeking files signed by Shrestha in his absence,” said the committee member.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">He is also accused of presenting forged bills during his official visits abroad.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">A source at the department said that Shrestha was against anti-money laundering.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">A cabinet meeting on October 17 had decided to take action against Shestha as per the recommendation of the Anti Money Laundering Department of NRB. The government then instructed the central bank to investigate Shrestha’s involvement in irregularities by abusing his power as the deputy governor of NRB. A board meeting of the central bank subsequently formed the probe committee on November 4 after which Shrestha was automatically suspended from his post as per Article 22 of the Nepal Rastra Bank Act 2058. Other members of the committee are Dr Subodh Kumar Karna and Ramji Regmi.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2019-11-07', 'modified' => '2019-11-07', 'keywords' => '', 'description' => '', 'sortorder' => '11375', 'image' => '20191107101753_20190513011832_NRB Facebook.jpg', 'article_date' => '2019-11-07 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 6 => array( 'Article' => array( 'id' => '11623', 'article_category_id' => '1', 'title' => 'Law Ministry at Loggerheads with Finance Ministry regarding formation of Revenue Board', 'sub_title' => '', 'summary' => 'November 7: The formation of the proposed Revenue Board is likely to get delayed due to differences between the Ministry of Finance and the Ministry of Law. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 7: The formation of the proposed Revenue Board is likely to get delayed due to differences between the Ministry of Finance and the Ministry of Law. The law ministry has objected to the draft sent by the finance ministry in accordance to the Development Committee Act.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The law ministry has sought explanation from the finance ministry for preparing the draft under the Development Committee Act. The Ministry of Law is of the view that preparing the draft using this particular Act would make the Revenue Board temporary in nature. Therefore, the draft of the Revenue Board which was forwarded to the law ministry before Dashain has been gathering dust.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Meanwhile, the finance ministry has said that the law ministry cannot block the implementation of the programme mentioned in the annual budget.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“The draft proposed by the finance ministry has long-term objectives. However, if the process of forming the board is temporary, the board itself can be scrapped by a government decision. We believe that it would be better to form the board of permanent nature,” said an official at the law ministry requesting anonymity.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Officials at the law ministry informed New Business Age that they held discussions with the finance ministry officials but were not able to reach to a conclusion.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“We held discussions with the officials of finance ministry. We demanded explanation for preparing the draft of the formation of the Revenue Board in accordance to the Development Committee Act. The draft is in hold as we could not get a satisfactory answer,” said the highly-placed source.</span></span></p> ', 'published' => true, 'created' => '2019-11-07', 'modified' => '2019-11-07', 'keywords' => '', 'description' => '', 'sortorder' => '11374', 'image' => '20191107095500_aaaadfg.jpg', 'article_date' => '2019-11-07 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 7 => array( 'Article' => array( 'id' => '11622', 'article_category_id' => '1', 'title' => 'NAC Announces 3 New International Destinations', 'sub_title' => '', 'summary' => 'November 7: Cash-strapped Nepal Airlines Corporation has announced to operate flights to three new international destinations within the next four months.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 7: Cash-strapped Nepal Airlines Corporation has announced to operate flights to three new international destinations within the next four months.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The state-owned airline company, which has come under fire for under-utilization of two newly procured wide-body aircraft, said it will operate flights to Japan’s Narita, Saudi Arabia’s Riyad and China’s Guangzhou by February this year.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Speaking at a press conference organized by NAC on Wednesday, Chairman Madan Kharel said that the flag carrier of Nepal will start operating flights to the new destinations as soon as the concerned bodies given them the permission.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">However, NAC is not likely to start flights to these destinations so soon, as claimed by the airline company. The airline company had earlier announced that it would operate flights to Narita and Guangzhou by December this year.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">China’s Safety Audit team must first monitor Nepal’s aviation sector and then approve the flights. The team is arriving in Kathmandu in December.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Meanwhile, the process of appointing General Sales Agent (GSA) for Riyad flights has reached the final stage. The process to initiate flight operation will begin only after finalizing the GSA.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">NAC has also announced it has started process to begin flights to seven other destinations including Beijing, Shanghai, Dhaka, Yangon, Hanoi, Phnom Penh and Colombo.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">During the press conference, NAC Chairman Kharel said that the airline company has adopted a strategy to reduce operation cost and will be saving Rs 2 billion in unnecessary spending within the current fiscal year.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Areas of austerity measures include air turbine fuel (ATF), overflight, hotel, engineering, corporate, safety among others, Kharel said.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“Lots of works of the engineering department are now being carried by the local manpower. This will help us reduce our operational cost,” said Kharel.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">He further said that arrangement has been made so that the aircraft will not have to carry extra fuel. He also said they are planning to change the current route to save fuel.</span></span></p> ', 'published' => true, 'created' => '2019-11-07', 'modified' => '2019-11-07', 'keywords' => '', 'description' => '', 'sortorder' => '11373', 'image' => '20191107091630_20180727021334_2.jpg', 'article_date' => '2019-11-07 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 8 => array( 'Article' => array( 'id' => '11626', 'article_category_id' => '1', 'title' => 'Government Forms Committee to Select New Chairman of SEBON', 'sub_title' => '', 'summary' => 'November 7: The government has formed a three-member committee to select the chairman of the Securities Board of Nepal (SEBON), which has been lying vacant since October 17.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 7: The government has formed a three-member committee to select the chairman of the Securities Board of Nepal (SEBON), which has been lying vacant since October 17.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The committee under the coordination of National Planning Commission Member DrRam Kumar Phuyal was formed on Wednesday (November 6) after the Council of Ministers on Tuesday instructed the NPC to select SEBON’s chair in coordination with the finance minstry.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Revenue secretary at the Ministry of Finance, Sishir Dhungana, and an independent expert – Krishna Acharya – are the other members of the committee.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The post is lying vacant after the term of the then chairman Rewat Bahadur Karki expired on October 17.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">A member of the committee told New Business Age that they will select a capable, experienced and dynamic person who can handle the responsibilities of SEBON.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">However, the committee is yet to decide whether to call a public notice or adopt other process to select the new chairman.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">SEBON’s officials, former executive directors of Nepal Rastra Bank and former chairpersons of ICAN are lobbying for the post. SEBON’s Executive Director Niraj Giri, who has been working with SEBON since the last 23 years is likely to vie for the post.</span></span></p> ', 'published' => true, 'created' => '2019-11-07', 'modified' => '2019-11-07', 'keywords' => '', 'description' => '', 'sortorder' => '11372', 'image' => '20191107114440_adfaf.jpg', 'article_date' => '2019-11-07 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 9 => array( 'Article' => array( 'id' => '11621', 'article_category_id' => '1', 'title' => 'Nepal-Bharat Maitri Polytechnic in Hetauda to Complete in 2 Years', 'sub_title' => '', 'summary' => 'November 6: Chief Minister of Province-3 Dormani Paudel initiated the “ground breaking ceremony” for establishment of a flagship Nepal-Bharat Maitri Polytechnic at Hetauda in Makwanpur district on Tuesday, November 5.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 6: Chief Minister of Province-3 Dormani Paudel initiated the “ground breaking ceremony” for establishment of a flagship Nepal-Bharat Maitri Polytechnic at Hetauda in Makwanpur district on Tuesday, November 5.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The polytechnic institute in Hetauda is a state-of-the-art infrastructure project in the area of vocational training and is being built under the India-Nepal Development Partnership with Indian grant of IRs 385.3 million, the Indian Embassy said in a statement.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The statement added that the total built up area of the polytechnic project would be 19,200 square meters. The facility will include an administrative block, academic block, auditorium, library, workshop, multipurpose hall, separate hostels for boys and girls, principal and staff residences and amenities for sports and communities. The project is expected to be completed in two years.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“Today's ground breaking ceremony for construction of the Nepal-Bharat Maitiri Polytechnic at Hetauda is another testimony of friendly relations between India and Nepal and also India's commitment to work with Nepal to complement efforts of Government of Nepal to strengthen infrastructure in the vocational and skill development sector in Nepal,” the statement added.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2019-11-06', 'modified' => '2019-11-06', 'keywords' => '', 'description' => '', 'sortorder' => '11371', 'image' => '20191106021016_aaaa.jpg', 'article_date' => '2019-11-06 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 10 => array( 'Article' => array( 'id' => '11620', 'article_category_id' => '1', 'title' => 'NRB Directs Microfinance Companies to form Anti-Money Laundering Committees', 'sub_title' => '', 'summary' => 'November 6: Nepal Rastra Bank has directed microfinance companies to form anti-money laundering committees. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 6: Nepal Rastra Bank has directed microfinance companies to form anti-money laundering committees. The central bank took such decision as it intensifies its anti-money laundering drive, which until now did not cover the microfinance companies.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Dr Prakash Kumar Shrestha, executive director of the Microfinance Supervision Department of NRB, said that it is mandatory for the microfinance companies to form such committees.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“The central bank has issued clear directives related to its anti-money laundering drive,” said Shrestha.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">He clarified that this measure was taken to ensure that the money earned through illegal means would not enter the banking channel.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The central bank has also made provision for microfinance companies to issue notice to blacklist bad debtors. Microfinance companies can now recommend blacklisting debtors who do not pay loan. Microfinances could not enjoy this facility before.</span></span></p> ', 'published' => true, 'created' => '2019-11-06', 'modified' => '2019-11-06', 'keywords' => '', 'description' => '', 'sortorder' => '11370', 'image' => '20191106015703_20190719115911_NRB-_-image.jpg', 'article_date' => '2019-11-06 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 11 => array( 'Article' => array( 'id' => '11619', 'article_category_id' => '218', 'title' => 'NIBL to partner with China’s UnionPay International to launch cards acceptable worldwide', 'sub_title' => '', 'summary' => 'November 6: Chief Executive Officer of Nepal Investment Bank Limited (NIBL) Jyoti Prakash Pandey and Chairman of UnionPay International Co Ltd Cai Jianbo have announced to launch NIBL UnionPay Card products in the Nepali market soon.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">November 6: Chief Executive Officer of Nepal Investment Bank Limited (NIBL) Jyoti Prakash Pandey and Chairman of UnionPay International Co Ltd Cai Jianbo have announced to launch NIBL UnionPay Card products in the Nepali market soon.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Targeting its customers visiting China for business or leisure, NIBL has plans to launch debit, credit, pre-paid travel cards and QR codes. It is reported that NIBL UnionPayCardholders can easily withdraw cash with NIBL UnionPay Cards while these cards can also be used for shopping, payments at hotels, restaurants etc in Nepal, China and worldwide, NIBL said in a statement. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">NIBL’s CEO Pandey informed that the NIBL-UnionPay International collaboration was initiated focusing on the government’s upcoming - Visit Nepal Year 2020 campaign.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">According to the statistics of Nepal Tourism Board, 153,633 Chinese tourists visited Nepal in 2018. Meanwhile, 300,000 Chinese tourists are expected to visit Nepal during Visit Nepal Year 2020.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">UnionPay International, which was established in 2012 in Shanghai, China, has been offering its services in 177 countries all around the world.</span></span></span></p> ', 'published' => true, 'created' => '2019-11-06', 'modified' => '2019-11-06', 'keywords' => '', 'description' => '', 'sortorder' => '11369', 'image' => '20191106014307_aadfaf.jpg', 'article_date' => '2019-11-06 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 12 => array( 'Article' => array( 'id' => '11618', 'article_category_id' => '237', 'title' => 'Samsung Offers Discount on Galaxy Buds', 'sub_title' => '', 'summary' => 'November 6: Samsung has announces “Power of 10” offer to celebrate 10 years of its smartphone launch.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Tahoma","sans-serif"">November 6: Samsung has announces “Power of 10” offer to celebrate 10 years of its smartphone launch. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Tahoma","sans-serif"">Under this scheme, the customers who buy Galaxy Note10/Note10+ and S10/S10+ will be eligible to get Galaxy Buds at 51 percent discount.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Tahoma","sans-serif"">The customers can get the Galaxy Buds at a discount rate of Rs 6,990, the company said in a statement.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Tahoma","sans-serif"">The offer will be valid from November 3 to December 15. </span></span></span></span></p> ', 'published' => true, 'created' => '2019-11-06', 'modified' => '2019-11-06', 'keywords' => '', 'description' => '', 'sortorder' => '11368', 'image' => '20191106013702_aaaa.jpg', 'article_date' => '2019-11-06 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 13 => array( 'Article' => array( 'id' => '11617', 'article_category_id' => '1', 'title' => 'Transshipment Cost Rising due to Lack of Regulation', 'sub_title' => '', 'summary' => 'November 6: Nepali businessmen have been forced to pay heavy price for transportation of goods for overseas business as the foreign shipping companies fall outside the ambit of the country’s law.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 6: Nepali businessmen have been forced to pay heavy price for transportation of goods for overseas business as the foreign shipping companies fall outside the ambit of the country’s law.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The importers blame the government’s inefficiency and lack of effective measures for the random charges shipping companies have been imposing on Nepali businessmen. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The transportation cost via Kolkata Port, which is extensively used by Nepali importers for overseas trade, has surprisingly increased after the two countries initiated a number of measures to facilitate the flow of goods including the electronic cargo tracking system, says Ashok Kumar Temani, chairperson of the Transportation and Transshipment Committee of the Federation of Nepalese Chambers of Commerce and Industries (FNCCI).</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“The transportation cost increased after implementation of direct transshipment of goods between the two countries via Kolkata,” said Temani.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“We were expecting to reduce both time and cost after implementing this mode of transportation but the result was exactly the opposite,” he added.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The government has said it will formulate laws to bring the shipping companies under its regulation. However, there are doubts that the laws can regulate the companies which have a worldwide network.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Not just Nepal, but India itself is a victim of monopoly of the shipping companies, complain officials at Kolkata Port.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Importers on the other hand say that the shipping companies have been charging freight charge, railway charge, terminal holding charge, ECTS charge among others at their whims.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Container Corporation of India Ltd (CONCOR) has set a uniform price for all shipping companies but such companies have been charging different rates to Nepali importers, says Amrit Shrestha, a Kolkata-based customs house agent.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Kolkata Port had initiated Direct Transshipment for Nepali goods on February 15 earlier this year. To facilitate this system, the customs office of the port had made it mandatory to implement the ECTS. However, the High Court of Kolkata made this process non-binding.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Nepal’s consul general to Kolkata Eknarayan Aryal says that the foreign shipping companies will also be brought under regulation once the government formulates laws.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“The government has expedited the process to formulate laws,” said Aryal, adding, “We have adopted a strategy to increase competition among the shipping companies to reduce the cost.” </span></span></p> ', 'published' => true, 'created' => '2019-11-06', 'modified' => '2019-11-06', 'keywords' => '', 'description' => '', 'sortorder' => '11367', 'image' => '20191106012745_Kolkata.jpg', 'article_date' => '2019-11-06 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 14 => array( 'Article' => array( 'id' => '11616', 'article_category_id' => '1', 'title' => 'Government to Reopen Duty-Free Shop at TIA', 'sub_title' => '', 'summary' => 'November 6: Tribhuvan International Airport (TIA) has prepared a work plan for reopening duty-free shop at the airport. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 6: Tribhuvan International Airport (TIA) has prepared a work plan for reopening duty-free shop at the airport. TIA has already submitted the work plan after conducting a detailed study in this regard.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Two months ago, Minister for Culture, Tourism and Civil Aviation Yogesh Bhattarai had asked the airport authorities to prepare a list of items required for reopening the duty-free shop at TIA.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Ministry of Culture, Tourism and Civil Aviation has decided to reopen the duty-free shop at TIA after 11 years. Sources at the ministry informed New Business Age that the ministry decided to reopen the duty-free shop at the international terminal of TIA as per the demands of foreign visitors as well as Nepali travelers.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Following the minister’s instructions, the airport management had formed a committee to study the prospect of duty-free shop at TIA. Spokesperson for the TIA Pratap Babu Tiwari said that they submitted the work plan prepared by the same committee to the ministry.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">He said that further action will be taken after holding discussion on the work plan submitted by the airport. The duty free shop was closed by the government led by Baburam Bhattarai in 2008. </span></span></p> ', 'published' => true, 'created' => '2019-11-06', 'modified' => '2019-11-06', 'keywords' => '', 'description' => '', 'sortorder' => '11366', 'image' => '20191106122050_aadsffg.jpg', 'article_date' => '2019-11-06 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, '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' => '11634', 'article_category_id' => '1', 'title' => 'Police Arrest Industrialist Roop Jyoti', 'sub_title' => '', 'summary' => 'November 8: Police have arrested former assistant minister Roop Jyoti, who is the vice president of Jyoti Group.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 8: Police have arrested former assistant minister Roop Jyoti, who is the vice president of Jyoti Group.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Metropolitan Police on Thursday arrested Jyoti on fraud charge. Police nabbed him from Tribhuvan International Airport while he was returning home from Singapore.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">He has been accused of fraudulent act in land transaction.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">About a year ago, the Kathmandu District Court had issued an arrest warrant against Jyoti in a fraud case in housing project . The Supreme Court had issued a interim order not to arrest Jyoti. However, the apex court on Tuesday issued a verdict against his favour after which the police arrested Jyoti.</span></span></p> ', 'published' => true, 'created' => '2019-11-08', 'modified' => '2019-11-08', 'keywords' => '', 'description' => '', 'sortorder' => '11380', 'image' => '20191108122721_aaaa.jpg', 'article_date' => '2019-11-08 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 1 => array( 'Article' => array( 'id' => '11629', 'article_category_id' => '237', 'title' => 'OPPO and Ericsson Launch 5G Joint Lab to Strengthen Collaboration ', 'sub_title' => '', 'summary' => 'November 7: Chinese smartphone brand OPPO recently announced the launch of a 5G joint laboratory with Ericsson, a leading information and communication technology provider. ', 'content' => '<p>November 7: Chinese smartphone brand OPPO recently announced the launch of a 5G joint laboratory with Ericsson, a leading information and communication technology provider. This partnership will serve to deepen the two companies’ collaboration in the area of 5G, OPPO said in a statement. <br /> Through the new lab, OPPO and Ericsson will also promote global collaboration, share with each other cutting-edge 5G technologies and help optimize 5G products and network performance to accelerate the large-scale deployment of 5G globally. </p> <p> “We are very excited to launch our 5G joint lab with Ericsson. The initiative leverages Ericsson’s advantages in 5G network and infrastructure technologies and its global operator channels with OPPO’s experience and expertise in 5G standards development, technologies, products and application scenarios,” said Andy Wu, vice president of OPPO and president of Software Engineering Department at the company. </p> <p>“We will work together to embrace the challenges and opportunities ahead in the 5G era in order to provide better 5G products and experiences for consumers around the world.”</p> <p>Luca Orsini, vice president and head of Networks for Market Area North East Asia at Ericsson said, “This partnership is of highly strategic importance for both Ericsson and OPPO. It will contribute to the diversity of the 5G ecosystem and benefit from the agility of both companies to bring new use cases and customer value to the market.”</p> <p>The statement said that OPPO and Ericsson have been working closely to contribute to the evolution of 5G technologies and have also signed a global patent license agreement, laying a solid foundation for their ongoing, in-depth collaboration in the 5G era. </p> <p>Since the third quarter of 2018, the two partners have been running joint 5G tests on OPPO’s 5G handset and Ericsson’s 5G infrastructure with local operator partners in Sweden, Germany and China as part of an effort to accelerate the commercial availability of 5G products. <br /> At MWC 2019 earlier this year, OPPO and Ericsson also partnered to showcase 5G smartphones and cloud-gaming scenarios to attendees.</p> <p>In the new era of 5G intelligent connectivity, OPPO said it will continue to invest in product development, technological research, standards and application scenarios for 5G and work with leading partners like Ericsson to explore the tremendous potential of 5G and bring its innovation value to consumers around the world.</p> ', 'published' => true, 'created' => '2019-11-07', 'modified' => '2019-11-07', 'keywords' => '', 'description' => '', 'sortorder' => '11379', 'image' => '20191107121801_OPPO Ericsson.jpg', 'article_date' => '2019-11-07 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 2 => array( 'Article' => array( 'id' => '11628', 'article_category_id' => '266', 'title' => 'NCHL to receive SAFA BPA Award', 'sub_title' => '', 'summary' => 'November 7: Nepal Clearing House Ltd (NCHL) has been awarded with “Certificate of Merit” for the year 2018 in the category Public Sector Entities under the ‘SAFA Best Presented Annual Report Awards’, according to a statement issued by NCHL. ', 'content' => '<p>November 7: Nepal Clearing House Ltd (NCHL) has been awarded with “Certificate of Merit” for the year 2018 in the category Public Sector Entities under the ‘SAFA Best Presented Annual Report Awards’, according to a statement issued by NCHL. </p> <p>The company said that the award is conferred on the basis of the evaluation administered by South Asian Federation of Accountants (SAFA) committee for Improvement in transparency, accountability and governance, of the published annual reports from South Asian Countries. <br /> The award will be distributed by SAFA at a ceremony on November 30 in Dhaka, Bangaladesh.<br /> The NCHL’s annual report and disclosures was earlier recognized by the Institutes of Chartered Accountants of Nepal (ICAN) for BPA award in Nepal as the 1st runner-up. And then the annual report was forwarded to SAFA by ICAN for the award evaluation within the SAARC region, the statement added.<br /> NCHL said it considers the award as the recognition of its efforts being made within the industry and the demonstrated commitment towards the financial disclosures and transparencies.<br /> NCHL is a public limited company promoted by Nepal Rastra Bank, banks and financial institutions and Smart Choice Technologies Ltd for establishing multiple national payment systems in Nepal. It has been operating NCHL-ECC, NCHL-IPS and connectIPS e-Payment systems.<br /> </p> ', 'published' => true, 'created' => '2019-11-07', 'modified' => '2019-11-07', 'keywords' => '', 'description' => '', 'sortorder' => '11378', 'image' => '20191107121022_Clipboard01.jpg', 'article_date' => '2019-11-07 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 3 => array( 'Article' => array( 'id' => '11627', 'article_category_id' => '266', 'title' => 'Khalti Signs Agreement with LBEF to Provide Internships and Job Placements to E-Business Students', 'sub_title' => '', 'summary' => 'November 7: Khalti Digital Wallet and Lord Buddha Education Foundation (LBEF) have signed a strategic partnership agreement to provide internship and job placement opportunities to E-Business and IT students. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Arial,sans-serif"><span style="font-family:"Times New Roman","serif"">November 7: </span></span></span><span style="font-size:11pt"><span style="font-family:Arial,sans-serif"><span style="font-family:"Times New Roman","serif"">Khalti Digital Wallet and Lord Buddha Education Foundation (LBEF) have signed a strategic partnership agreement to provide internship and job placement opportunities to E-Business and IT students. Manish Modi, managing director of Khalti, and Pankaj Jalan, chairman of LBEF, signed the agreement amid a function in Kathmandu on Wednesday, November 6.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,sans-serif"><span style="font-family:"Times New Roman","serif"">As per the agreement, the final year students and fresh graduates of LBEF can apply for an internship at Khalti. After a brief internship period, they will be recruited to work full-time at the company. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,sans-serif"><span style="font-family:"Times New Roman","serif"">Furthermore, Khalti said it will provide a flexible work schedule so that the students do not have to miss their classes and also will provide leaves during exams or any other important projects, in consultation with the college.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,sans-serif"><span style="font-family:"Times New Roman","serif"">Likewise, LBEF will provide special scholarships to the employees of Khalti who wish to join Master’s degree programme at the college. This collaboration between Khalti and LBEF is expected to set an example of industry-academia partnership in Nepal, reads the statement.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,sans-serif"><span style="font-family:"Times New Roman","serif"">Speaking about the agreement, Khalti’s MD Modi, shared, “We consider this collaboration as a win-win situation for both Khalti and LBEF students. One of the main agendas of both institutions is to develop the IT industry of Nepal. This collaboration will bring synergy to both institutions. We are hopeful that we will be enriching the student experience effectively and appropriately and at the same time, increasing the quality of workforce in the company.”</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,sans-serif"><span style="font-family:"Times New Roman","serif"">Likewise, Pankaj Jalan of LBEF said, “We are excited to sign this strategic partnership with Khalti. Khalti as a brand is aligned with our mission, culture and values of promoting the IT industry of Nepal.”</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,sans-serif"><span style="font-family:"Times New Roman","serif"">Started in January 2017, Khalti is an emerging mobile payment solution in Nepal. So far, Khalti’s service has reached 70 districts of Nepal and it is working to enable people in the remotest corners of the nation to use digital payment service, the statement added. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,sans-serif"><span style="font-family:"Times New Roman","serif"">Lord Buddha Education Foundation (LBEF) claimed itself to be the first college in Nepal to launch IT courses.</span></span></span></p> ', 'published' => true, 'created' => '2019-11-07', 'modified' => '2019-11-07', 'keywords' => '', 'description' => '', 'sortorder' => '11377', 'image' => '20191107120515_aaaa.jpg', 'article_date' => '2019-11-07 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 4 => array( 'Article' => array( 'id' => '11625', 'article_category_id' => '1', 'title' => 'North Korean Investors do not Show up Despite Repeated Calls', 'sub_title' => '', 'summary' => 'November 7: North Korean investors have not come into contact with the Department of Industries even after missing the deadline given by the department to take back their investment from Nepal.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:18.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">November 7: North Korean investors have not come into contact with the Department of Industries even after missing the deadline given by the department to take back their investment from Nepal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:18.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The department had written its third letter to the North Korean Embassy in Kathmandu on October 20 to take back investments made by Korean nationals within two weeks. Likewise, on September 16, the department had asked the North Korean investors to take back their investment within 45 days. But the requests have fallen in deaf ears.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:18.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">As the North Korean investors did not show up, the department has already written a letter to the Ministry of Industries informing it about the latest development.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:18.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The ministry has sought details regarding this issue from the department. The department replied on November 2 that not a single North Korean company has come into contact with it.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:18.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">“They have not come into contact despite our repeated calls,” said Jeevan Prasad Luitel, director general of the department.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:18.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Luitel said they will now initiate the process to shut down the companies having investment of North Koreans. The department has also decided to recommend not to extend the visa of the North Korean investors, which might then force them to return back. But this requires further discussions with the Ministry of Home Affairs and the Ministry of Industries, he further said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:18.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Data at the department show that North Korean investors have been investing in Nepal since the last 23 years. Currently, there are nine businesses operating with North Korean investment. Among them, six are hotels and restaurants, two are IT companies and one hospital. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:18.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The government’s decision to ask North Korean to take back their investment comes after renewed calls of the United Nations Security Council, which had decided to impose sanctions on North Korea on May 11, 1993 for its active involvement in pursuing nuclear ambitions and missile tests.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:18.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The UN Security Council decided to impose more sanctions including economic sanctions on December 22, 2018 after it stepped up its activities to enrich nuclear energy.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:18.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The UN had written a letter to the Ministry of Foreign Affairs to shut down industries operating with North Korean investment. Based on the letter, the government decided to clamp down the businesses backed by North Korean investment.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2019-11-07', 'modified' => '2019-11-07', 'keywords' => '', 'description' => '', 'sortorder' => '11376', 'image' => '20191107104555_Clipboard01.jpg', 'article_date' => '2019-11-07 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 5 => array( 'Article' => array( 'id' => '11624', 'article_category_id' => '1', 'title' => 'Probe Committee Seeks Files Signed by Suspended Dy Governor', 'sub_title' => '', 'summary' => 'November 7: A probe committee formed to investigate the allegations of irregularities against suspended deputy governor of Nepal Rastra Bank, Shiva Raj Shrestha, has decided to seek files signed by Shrestha from all the concerned departments of the central bank.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 7: A probe committee formed to investigate the allegations of irregularities against suspended deputy governor of Nepal Rastra Bank, Shiva Raj Shrestha, has decided to seek files signed by Shrestha from all the concerned departments of the central bank.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The three-member probe committee will start its investigation by collecting all the files signed by Shrestha. Of late, Shrestha had been looking after eight department of the central bank. In order to see what kinds of decision he took, the probe committee headed by Shreeram Poudel has sought the files from all eight departments. A member of the committee told New Business Age that they will hand over the letters to all the departments by Thursday.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Deputy Governor Shrestha was handed the vital Department of Regulation and Supervision.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“So far, the Department of Banks and Financial Institutions has presented the files. Now we will seek files from other departments,” said the member requesting not to be named.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“It seems that it will take some time to receive all the files signed by Shrestha in the last three years,” said the source.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Shrestha has been accused of favouring Ncell in a sub judice case at the Supreme Court and also of helping banks and financial institutions to conceal bad loans. He reportedly helped Ncell take away its dividends by signing a file in the absence of another deputy governor, Chintamani Shivakoti.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“So far, we have found that Shivakoti was absent on 24 occasions due to his field trips and foreign visits. We are seeking files signed by Shrestha in his absence,” said the committee member.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">He is also accused of presenting forged bills during his official visits abroad.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">A source at the department said that Shrestha was against anti-money laundering.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">A cabinet meeting on October 17 had decided to take action against Shestha as per the recommendation of the Anti Money Laundering Department of NRB. The government then instructed the central bank to investigate Shrestha’s involvement in irregularities by abusing his power as the deputy governor of NRB. A board meeting of the central bank subsequently formed the probe committee on November 4 after which Shrestha was automatically suspended from his post as per Article 22 of the Nepal Rastra Bank Act 2058. Other members of the committee are Dr Subodh Kumar Karna and Ramji Regmi.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2019-11-07', 'modified' => '2019-11-07', 'keywords' => '', 'description' => '', 'sortorder' => '11375', 'image' => '20191107101753_20190513011832_NRB Facebook.jpg', 'article_date' => '2019-11-07 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 6 => array( 'Article' => array( 'id' => '11623', 'article_category_id' => '1', 'title' => 'Law Ministry at Loggerheads with Finance Ministry regarding formation of Revenue Board', 'sub_title' => '', 'summary' => 'November 7: The formation of the proposed Revenue Board is likely to get delayed due to differences between the Ministry of Finance and the Ministry of Law. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 7: The formation of the proposed Revenue Board is likely to get delayed due to differences between the Ministry of Finance and the Ministry of Law. The law ministry has objected to the draft sent by the finance ministry in accordance to the Development Committee Act.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The law ministry has sought explanation from the finance ministry for preparing the draft under the Development Committee Act. The Ministry of Law is of the view that preparing the draft using this particular Act would make the Revenue Board temporary in nature. Therefore, the draft of the Revenue Board which was forwarded to the law ministry before Dashain has been gathering dust.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Meanwhile, the finance ministry has said that the law ministry cannot block the implementation of the programme mentioned in the annual budget.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“The draft proposed by the finance ministry has long-term objectives. However, if the process of forming the board is temporary, the board itself can be scrapped by a government decision. We believe that it would be better to form the board of permanent nature,” said an official at the law ministry requesting anonymity.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Officials at the law ministry informed New Business Age that they held discussions with the finance ministry officials but were not able to reach to a conclusion.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“We held discussions with the officials of finance ministry. We demanded explanation for preparing the draft of the formation of the Revenue Board in accordance to the Development Committee Act. The draft is in hold as we could not get a satisfactory answer,” said the highly-placed source.</span></span></p> ', 'published' => true, 'created' => '2019-11-07', 'modified' => '2019-11-07', 'keywords' => '', 'description' => '', 'sortorder' => '11374', 'image' => '20191107095500_aaaadfg.jpg', 'article_date' => '2019-11-07 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 7 => array( 'Article' => array( 'id' => '11622', 'article_category_id' => '1', 'title' => 'NAC Announces 3 New International Destinations', 'sub_title' => '', 'summary' => 'November 7: Cash-strapped Nepal Airlines Corporation has announced to operate flights to three new international destinations within the next four months.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 7: Cash-strapped Nepal Airlines Corporation has announced to operate flights to three new international destinations within the next four months.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The state-owned airline company, which has come under fire for under-utilization of two newly procured wide-body aircraft, said it will operate flights to Japan’s Narita, Saudi Arabia’s Riyad and China’s Guangzhou by February this year.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Speaking at a press conference organized by NAC on Wednesday, Chairman Madan Kharel said that the flag carrier of Nepal will start operating flights to the new destinations as soon as the concerned bodies given them the permission.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">However, NAC is not likely to start flights to these destinations so soon, as claimed by the airline company. The airline company had earlier announced that it would operate flights to Narita and Guangzhou by December this year.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">China’s Safety Audit team must first monitor Nepal’s aviation sector and then approve the flights. The team is arriving in Kathmandu in December.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Meanwhile, the process of appointing General Sales Agent (GSA) for Riyad flights has reached the final stage. The process to initiate flight operation will begin only after finalizing the GSA.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">NAC has also announced it has started process to begin flights to seven other destinations including Beijing, Shanghai, Dhaka, Yangon, Hanoi, Phnom Penh and Colombo.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">During the press conference, NAC Chairman Kharel said that the airline company has adopted a strategy to reduce operation cost and will be saving Rs 2 billion in unnecessary spending within the current fiscal year.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Areas of austerity measures include air turbine fuel (ATF), overflight, hotel, engineering, corporate, safety among others, Kharel said.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“Lots of works of the engineering department are now being carried by the local manpower. This will help us reduce our operational cost,” said Kharel.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">He further said that arrangement has been made so that the aircraft will not have to carry extra fuel. He also said they are planning to change the current route to save fuel.</span></span></p> ', 'published' => true, 'created' => '2019-11-07', 'modified' => '2019-11-07', 'keywords' => '', 'description' => '', 'sortorder' => '11373', 'image' => '20191107091630_20180727021334_2.jpg', 'article_date' => '2019-11-07 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 8 => array( 'Article' => array( 'id' => '11626', 'article_category_id' => '1', 'title' => 'Government Forms Committee to Select New Chairman of SEBON', 'sub_title' => '', 'summary' => 'November 7: The government has formed a three-member committee to select the chairman of the Securities Board of Nepal (SEBON), which has been lying vacant since October 17.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 7: The government has formed a three-member committee to select the chairman of the Securities Board of Nepal (SEBON), which has been lying vacant since October 17.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The committee under the coordination of National Planning Commission Member DrRam Kumar Phuyal was formed on Wednesday (November 6) after the Council of Ministers on Tuesday instructed the NPC to select SEBON’s chair in coordination with the finance minstry.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Revenue secretary at the Ministry of Finance, Sishir Dhungana, and an independent expert – Krishna Acharya – are the other members of the committee.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The post is lying vacant after the term of the then chairman Rewat Bahadur Karki expired on October 17.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">A member of the committee told New Business Age that they will select a capable, experienced and dynamic person who can handle the responsibilities of SEBON.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">However, the committee is yet to decide whether to call a public notice or adopt other process to select the new chairman.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">SEBON’s officials, former executive directors of Nepal Rastra Bank and former chairpersons of ICAN are lobbying for the post. SEBON’s Executive Director Niraj Giri, who has been working with SEBON since the last 23 years is likely to vie for the post.</span></span></p> ', 'published' => true, 'created' => '2019-11-07', 'modified' => '2019-11-07', 'keywords' => '', 'description' => '', 'sortorder' => '11372', 'image' => '20191107114440_adfaf.jpg', 'article_date' => '2019-11-07 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 9 => array( 'Article' => array( 'id' => '11621', 'article_category_id' => '1', 'title' => 'Nepal-Bharat Maitri Polytechnic in Hetauda to Complete in 2 Years', 'sub_title' => '', 'summary' => 'November 6: Chief Minister of Province-3 Dormani Paudel initiated the “ground breaking ceremony” for establishment of a flagship Nepal-Bharat Maitri Polytechnic at Hetauda in Makwanpur district on Tuesday, November 5.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 6: Chief Minister of Province-3 Dormani Paudel initiated the “ground breaking ceremony” for establishment of a flagship Nepal-Bharat Maitri Polytechnic at Hetauda in Makwanpur district on Tuesday, November 5.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The polytechnic institute in Hetauda is a state-of-the-art infrastructure project in the area of vocational training and is being built under the India-Nepal Development Partnership with Indian grant of IRs 385.3 million, the Indian Embassy said in a statement.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The statement added that the total built up area of the polytechnic project would be 19,200 square meters. The facility will include an administrative block, academic block, auditorium, library, workshop, multipurpose hall, separate hostels for boys and girls, principal and staff residences and amenities for sports and communities. The project is expected to be completed in two years.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“Today's ground breaking ceremony for construction of the Nepal-Bharat Maitiri Polytechnic at Hetauda is another testimony of friendly relations between India and Nepal and also India's commitment to work with Nepal to complement efforts of Government of Nepal to strengthen infrastructure in the vocational and skill development sector in Nepal,” the statement added.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2019-11-06', 'modified' => '2019-11-06', 'keywords' => '', 'description' => '', 'sortorder' => '11371', 'image' => '20191106021016_aaaa.jpg', 'article_date' => '2019-11-06 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 10 => array( 'Article' => array( 'id' => '11620', 'article_category_id' => '1', 'title' => 'NRB Directs Microfinance Companies to form Anti-Money Laundering Committees', 'sub_title' => '', 'summary' => 'November 6: Nepal Rastra Bank has directed microfinance companies to form anti-money laundering committees. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 6: Nepal Rastra Bank has directed microfinance companies to form anti-money laundering committees. The central bank took such decision as it intensifies its anti-money laundering drive, which until now did not cover the microfinance companies.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Dr Prakash Kumar Shrestha, executive director of the Microfinance Supervision Department of NRB, said that it is mandatory for the microfinance companies to form such committees.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“The central bank has issued clear directives related to its anti-money laundering drive,” said Shrestha.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">He clarified that this measure was taken to ensure that the money earned through illegal means would not enter the banking channel.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The central bank has also made provision for microfinance companies to issue notice to blacklist bad debtors. Microfinance companies can now recommend blacklisting debtors who do not pay loan. Microfinances could not enjoy this facility before.</span></span></p> ', 'published' => true, 'created' => '2019-11-06', 'modified' => '2019-11-06', 'keywords' => '', 'description' => '', 'sortorder' => '11370', 'image' => '20191106015703_20190719115911_NRB-_-image.jpg', 'article_date' => '2019-11-06 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 11 => array( 'Article' => array( 'id' => '11619', 'article_category_id' => '218', 'title' => 'NIBL to partner with China’s UnionPay International to launch cards acceptable worldwide', 'sub_title' => '', 'summary' => 'November 6: Chief Executive Officer of Nepal Investment Bank Limited (NIBL) Jyoti Prakash Pandey and Chairman of UnionPay International Co Ltd Cai Jianbo have announced to launch NIBL UnionPay Card products in the Nepali market soon.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">November 6: Chief Executive Officer of Nepal Investment Bank Limited (NIBL) Jyoti Prakash Pandey and Chairman of UnionPay International Co Ltd Cai Jianbo have announced to launch NIBL UnionPay Card products in the Nepali market soon.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Targeting its customers visiting China for business or leisure, NIBL has plans to launch debit, credit, pre-paid travel cards and QR codes. It is reported that NIBL UnionPayCardholders can easily withdraw cash with NIBL UnionPay Cards while these cards can also be used for shopping, payments at hotels, restaurants etc in Nepal, China and worldwide, NIBL said in a statement. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">NIBL’s CEO Pandey informed that the NIBL-UnionPay International collaboration was initiated focusing on the government’s upcoming - Visit Nepal Year 2020 campaign.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">According to the statistics of Nepal Tourism Board, 153,633 Chinese tourists visited Nepal in 2018. Meanwhile, 300,000 Chinese tourists are expected to visit Nepal during Visit Nepal Year 2020.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">UnionPay International, which was established in 2012 in Shanghai, China, has been offering its services in 177 countries all around the world.</span></span></span></p> ', 'published' => true, 'created' => '2019-11-06', 'modified' => '2019-11-06', 'keywords' => '', 'description' => '', 'sortorder' => '11369', 'image' => '20191106014307_aadfaf.jpg', 'article_date' => '2019-11-06 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 12 => array( 'Article' => array( 'id' => '11618', 'article_category_id' => '237', 'title' => 'Samsung Offers Discount on Galaxy Buds', 'sub_title' => '', 'summary' => 'November 6: Samsung has announces “Power of 10” offer to celebrate 10 years of its smartphone launch.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Tahoma","sans-serif"">November 6: Samsung has announces “Power of 10” offer to celebrate 10 years of its smartphone launch. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Tahoma","sans-serif"">Under this scheme, the customers who buy Galaxy Note10/Note10+ and S10/S10+ will be eligible to get Galaxy Buds at 51 percent discount.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Tahoma","sans-serif"">The customers can get the Galaxy Buds at a discount rate of Rs 6,990, the company said in a statement.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Tahoma","sans-serif"">The offer will be valid from November 3 to December 15. </span></span></span></span></p> ', 'published' => true, 'created' => '2019-11-06', 'modified' => '2019-11-06', 'keywords' => '', 'description' => '', 'sortorder' => '11368', 'image' => '20191106013702_aaaa.jpg', 'article_date' => '2019-11-06 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 13 => array( 'Article' => array( 'id' => '11617', 'article_category_id' => '1', 'title' => 'Transshipment Cost Rising due to Lack of Regulation', 'sub_title' => '', 'summary' => 'November 6: Nepali businessmen have been forced to pay heavy price for transportation of goods for overseas business as the foreign shipping companies fall outside the ambit of the country’s law.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 6: Nepali businessmen have been forced to pay heavy price for transportation of goods for overseas business as the foreign shipping companies fall outside the ambit of the country’s law.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The importers blame the government’s inefficiency and lack of effective measures for the random charges shipping companies have been imposing on Nepali businessmen. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The transportation cost via Kolkata Port, which is extensively used by Nepali importers for overseas trade, has surprisingly increased after the two countries initiated a number of measures to facilitate the flow of goods including the electronic cargo tracking system, says Ashok Kumar Temani, chairperson of the Transportation and Transshipment Committee of the Federation of Nepalese Chambers of Commerce and Industries (FNCCI).</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“The transportation cost increased after implementation of direct transshipment of goods between the two countries via Kolkata,” said Temani.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“We were expecting to reduce both time and cost after implementing this mode of transportation but the result was exactly the opposite,” he added.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The government has said it will formulate laws to bring the shipping companies under its regulation. However, there are doubts that the laws can regulate the companies which have a worldwide network.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Not just Nepal, but India itself is a victim of monopoly of the shipping companies, complain officials at Kolkata Port.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Importers on the other hand say that the shipping companies have been charging freight charge, railway charge, terminal holding charge, ECTS charge among others at their whims.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Container Corporation of India Ltd (CONCOR) has set a uniform price for all shipping companies but such companies have been charging different rates to Nepali importers, says Amrit Shrestha, a Kolkata-based customs house agent.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Kolkata Port had initiated Direct Transshipment for Nepali goods on February 15 earlier this year. To facilitate this system, the customs office of the port had made it mandatory to implement the ECTS. However, the High Court of Kolkata made this process non-binding.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Nepal’s consul general to Kolkata Eknarayan Aryal says that the foreign shipping companies will also be brought under regulation once the government formulates laws.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“The government has expedited the process to formulate laws,” said Aryal, adding, “We have adopted a strategy to increase competition among the shipping companies to reduce the cost.” </span></span></p> ', 'published' => true, 'created' => '2019-11-06', 'modified' => '2019-11-06', 'keywords' => '', 'description' => '', 'sortorder' => '11367', 'image' => '20191106012745_Kolkata.jpg', 'article_date' => '2019-11-06 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 14 => array( 'Article' => array( 'id' => '11616', 'article_category_id' => '1', 'title' => 'Government to Reopen Duty-Free Shop at TIA', 'sub_title' => '', 'summary' => 'November 6: Tribhuvan International Airport (TIA) has prepared a work plan for reopening duty-free shop at the airport. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 6: Tribhuvan International Airport (TIA) has prepared a work plan for reopening duty-free shop at the airport. TIA has already submitted the work plan after conducting a detailed study in this regard.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Two months ago, Minister for Culture, Tourism and Civil Aviation Yogesh Bhattarai had asked the airport authorities to prepare a list of items required for reopening the duty-free shop at TIA.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Ministry of Culture, Tourism and Civil Aviation has decided to reopen the duty-free shop at TIA after 11 years. Sources at the ministry informed New Business Age that the ministry decided to reopen the duty-free shop at the international terminal of TIA as per the demands of foreign visitors as well as Nepali travelers.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Following the minister’s instructions, the airport management had formed a committee to study the prospect of duty-free shop at TIA. Spokesperson for the TIA Pratap Babu Tiwari said that they submitted the work plan prepared by the same committee to the ministry.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">He said that further action will be taken after holding discussion on the work plan submitted by the airport. The duty free shop was closed by the government led by Baburam Bhattarai in 2008. </span></span></p> ', 'published' => true, 'created' => '2019-11-06', 'modified' => '2019-11-06', 'keywords' => '', 'description' => '', 'sortorder' => '11366', 'image' => '20191106122050_aadsffg.jpg', 'article_date' => '2019-11-06 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, '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
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 133]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '11634', 'article_category_id' => '1', 'title' => 'Police Arrest Industrialist Roop Jyoti', 'sub_title' => '', 'summary' => 'November 8: Police have arrested former assistant minister Roop Jyoti, who is the vice president of Jyoti Group.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 8: Police have arrested former assistant minister Roop Jyoti, who is the vice president of Jyoti Group.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Metropolitan Police on Thursday arrested Jyoti on fraud charge. Police nabbed him from Tribhuvan International Airport while he was returning home from Singapore.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">He has been accused of fraudulent act in land transaction.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">About a year ago, the Kathmandu District Court had issued an arrest warrant against Jyoti in a fraud case in housing project . The Supreme Court had issued a interim order not to arrest Jyoti. However, the apex court on Tuesday issued a verdict against his favour after which the police arrested Jyoti.</span></span></p> ', 'published' => true, 'created' => '2019-11-08', 'modified' => '2019-11-08', 'keywords' => '', 'description' => '', 'sortorder' => '11380', 'image' => '20191108122721_aaaa.jpg', 'article_date' => '2019-11-08 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 1 => array( 'Article' => array( 'id' => '11629', 'article_category_id' => '237', 'title' => 'OPPO and Ericsson Launch 5G Joint Lab to Strengthen Collaboration ', 'sub_title' => '', 'summary' => 'November 7: Chinese smartphone brand OPPO recently announced the launch of a 5G joint laboratory with Ericsson, a leading information and communication technology provider. ', 'content' => '<p>November 7: Chinese smartphone brand OPPO recently announced the launch of a 5G joint laboratory with Ericsson, a leading information and communication technology provider. This partnership will serve to deepen the two companies’ collaboration in the area of 5G, OPPO said in a statement. <br /> Through the new lab, OPPO and Ericsson will also promote global collaboration, share with each other cutting-edge 5G technologies and help optimize 5G products and network performance to accelerate the large-scale deployment of 5G globally. </p> <p> “We are very excited to launch our 5G joint lab with Ericsson. The initiative leverages Ericsson’s advantages in 5G network and infrastructure technologies and its global operator channels with OPPO’s experience and expertise in 5G standards development, technologies, products and application scenarios,” said Andy Wu, vice president of OPPO and president of Software Engineering Department at the company. </p> <p>“We will work together to embrace the challenges and opportunities ahead in the 5G era in order to provide better 5G products and experiences for consumers around the world.”</p> <p>Luca Orsini, vice president and head of Networks for Market Area North East Asia at Ericsson said, “This partnership is of highly strategic importance for both Ericsson and OPPO. It will contribute to the diversity of the 5G ecosystem and benefit from the agility of both companies to bring new use cases and customer value to the market.”</p> <p>The statement said that OPPO and Ericsson have been working closely to contribute to the evolution of 5G technologies and have also signed a global patent license agreement, laying a solid foundation for their ongoing, in-depth collaboration in the 5G era. </p> <p>Since the third quarter of 2018, the two partners have been running joint 5G tests on OPPO’s 5G handset and Ericsson’s 5G infrastructure with local operator partners in Sweden, Germany and China as part of an effort to accelerate the commercial availability of 5G products. <br /> At MWC 2019 earlier this year, OPPO and Ericsson also partnered to showcase 5G smartphones and cloud-gaming scenarios to attendees.</p> <p>In the new era of 5G intelligent connectivity, OPPO said it will continue to invest in product development, technological research, standards and application scenarios for 5G and work with leading partners like Ericsson to explore the tremendous potential of 5G and bring its innovation value to consumers around the world.</p> ', 'published' => true, 'created' => '2019-11-07', 'modified' => '2019-11-07', 'keywords' => '', 'description' => '', 'sortorder' => '11379', 'image' => '20191107121801_OPPO Ericsson.jpg', 'article_date' => '2019-11-07 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 2 => array( 'Article' => array( 'id' => '11628', 'article_category_id' => '266', 'title' => 'NCHL to receive SAFA BPA Award', 'sub_title' => '', 'summary' => 'November 7: Nepal Clearing House Ltd (NCHL) has been awarded with “Certificate of Merit” for the year 2018 in the category Public Sector Entities under the ‘SAFA Best Presented Annual Report Awards’, according to a statement issued by NCHL. ', 'content' => '<p>November 7: Nepal Clearing House Ltd (NCHL) has been awarded with “Certificate of Merit” for the year 2018 in the category Public Sector Entities under the ‘SAFA Best Presented Annual Report Awards’, according to a statement issued by NCHL. </p> <p>The company said that the award is conferred on the basis of the evaluation administered by South Asian Federation of Accountants (SAFA) committee for Improvement in transparency, accountability and governance, of the published annual reports from South Asian Countries. <br /> The award will be distributed by SAFA at a ceremony on November 30 in Dhaka, Bangaladesh.<br /> The NCHL’s annual report and disclosures was earlier recognized by the Institutes of Chartered Accountants of Nepal (ICAN) for BPA award in Nepal as the 1st runner-up. And then the annual report was forwarded to SAFA by ICAN for the award evaluation within the SAARC region, the statement added.<br /> NCHL said it considers the award as the recognition of its efforts being made within the industry and the demonstrated commitment towards the financial disclosures and transparencies.<br /> NCHL is a public limited company promoted by Nepal Rastra Bank, banks and financial institutions and Smart Choice Technologies Ltd for establishing multiple national payment systems in Nepal. It has been operating NCHL-ECC, NCHL-IPS and connectIPS e-Payment systems.<br /> </p> ', 'published' => true, 'created' => '2019-11-07', 'modified' => '2019-11-07', 'keywords' => '', 'description' => '', 'sortorder' => '11378', 'image' => '20191107121022_Clipboard01.jpg', 'article_date' => '2019-11-07 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 3 => array( 'Article' => array( 'id' => '11627', 'article_category_id' => '266', 'title' => 'Khalti Signs Agreement with LBEF to Provide Internships and Job Placements to E-Business Students', 'sub_title' => '', 'summary' => 'November 7: Khalti Digital Wallet and Lord Buddha Education Foundation (LBEF) have signed a strategic partnership agreement to provide internship and job placement opportunities to E-Business and IT students. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Arial,sans-serif"><span style="font-family:"Times New Roman","serif"">November 7: </span></span></span><span style="font-size:11pt"><span style="font-family:Arial,sans-serif"><span style="font-family:"Times New Roman","serif"">Khalti Digital Wallet and Lord Buddha Education Foundation (LBEF) have signed a strategic partnership agreement to provide internship and job placement opportunities to E-Business and IT students. Manish Modi, managing director of Khalti, and Pankaj Jalan, chairman of LBEF, signed the agreement amid a function in Kathmandu on Wednesday, November 6.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,sans-serif"><span style="font-family:"Times New Roman","serif"">As per the agreement, the final year students and fresh graduates of LBEF can apply for an internship at Khalti. After a brief internship period, they will be recruited to work full-time at the company. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,sans-serif"><span style="font-family:"Times New Roman","serif"">Furthermore, Khalti said it will provide a flexible work schedule so that the students do not have to miss their classes and also will provide leaves during exams or any other important projects, in consultation with the college.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,sans-serif"><span style="font-family:"Times New Roman","serif"">Likewise, LBEF will provide special scholarships to the employees of Khalti who wish to join Master’s degree programme at the college. This collaboration between Khalti and LBEF is expected to set an example of industry-academia partnership in Nepal, reads the statement.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,sans-serif"><span style="font-family:"Times New Roman","serif"">Speaking about the agreement, Khalti’s MD Modi, shared, “We consider this collaboration as a win-win situation for both Khalti and LBEF students. One of the main agendas of both institutions is to develop the IT industry of Nepal. This collaboration will bring synergy to both institutions. We are hopeful that we will be enriching the student experience effectively and appropriately and at the same time, increasing the quality of workforce in the company.”</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,sans-serif"><span style="font-family:"Times New Roman","serif"">Likewise, Pankaj Jalan of LBEF said, “We are excited to sign this strategic partnership with Khalti. Khalti as a brand is aligned with our mission, culture and values of promoting the IT industry of Nepal.”</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,sans-serif"><span style="font-family:"Times New Roman","serif"">Started in January 2017, Khalti is an emerging mobile payment solution in Nepal. So far, Khalti’s service has reached 70 districts of Nepal and it is working to enable people in the remotest corners of the nation to use digital payment service, the statement added. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,sans-serif"><span style="font-family:"Times New Roman","serif"">Lord Buddha Education Foundation (LBEF) claimed itself to be the first college in Nepal to launch IT courses.</span></span></span></p> ', 'published' => true, 'created' => '2019-11-07', 'modified' => '2019-11-07', 'keywords' => '', 'description' => '', 'sortorder' => '11377', 'image' => '20191107120515_aaaa.jpg', 'article_date' => '2019-11-07 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 4 => array( 'Article' => array( 'id' => '11625', 'article_category_id' => '1', 'title' => 'North Korean Investors do not Show up Despite Repeated Calls', 'sub_title' => '', 'summary' => 'November 7: North Korean investors have not come into contact with the Department of Industries even after missing the deadline given by the department to take back their investment from Nepal.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:18.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">November 7: North Korean investors have not come into contact with the Department of Industries even after missing the deadline given by the department to take back their investment from Nepal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:18.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The department had written its third letter to the North Korean Embassy in Kathmandu on October 20 to take back investments made by Korean nationals within two weeks. Likewise, on September 16, the department had asked the North Korean investors to take back their investment within 45 days. But the requests have fallen in deaf ears.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:18.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">As the North Korean investors did not show up, the department has already written a letter to the Ministry of Industries informing it about the latest development.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:18.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The ministry has sought details regarding this issue from the department. The department replied on November 2 that not a single North Korean company has come into contact with it.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:18.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">“They have not come into contact despite our repeated calls,” said Jeevan Prasad Luitel, director general of the department.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:18.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Luitel said they will now initiate the process to shut down the companies having investment of North Koreans. The department has also decided to recommend not to extend the visa of the North Korean investors, which might then force them to return back. But this requires further discussions with the Ministry of Home Affairs and the Ministry of Industries, he further said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:18.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Data at the department show that North Korean investors have been investing in Nepal since the last 23 years. Currently, there are nine businesses operating with North Korean investment. Among them, six are hotels and restaurants, two are IT companies and one hospital. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:18.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The government’s decision to ask North Korean to take back their investment comes after renewed calls of the United Nations Security Council, which had decided to impose sanctions on North Korea on May 11, 1993 for its active involvement in pursuing nuclear ambitions and missile tests.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:18.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The UN Security Council decided to impose more sanctions including economic sanctions on December 22, 2018 after it stepped up its activities to enrich nuclear energy.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:18.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The UN had written a letter to the Ministry of Foreign Affairs to shut down industries operating with North Korean investment. Based on the letter, the government decided to clamp down the businesses backed by North Korean investment.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2019-11-07', 'modified' => '2019-11-07', 'keywords' => '', 'description' => '', 'sortorder' => '11376', 'image' => '20191107104555_Clipboard01.jpg', 'article_date' => '2019-11-07 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 5 => array( 'Article' => array( 'id' => '11624', 'article_category_id' => '1', 'title' => 'Probe Committee Seeks Files Signed by Suspended Dy Governor', 'sub_title' => '', 'summary' => 'November 7: A probe committee formed to investigate the allegations of irregularities against suspended deputy governor of Nepal Rastra Bank, Shiva Raj Shrestha, has decided to seek files signed by Shrestha from all the concerned departments of the central bank.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 7: A probe committee formed to investigate the allegations of irregularities against suspended deputy governor of Nepal Rastra Bank, Shiva Raj Shrestha, has decided to seek files signed by Shrestha from all the concerned departments of the central bank.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The three-member probe committee will start its investigation by collecting all the files signed by Shrestha. Of late, Shrestha had been looking after eight department of the central bank. In order to see what kinds of decision he took, the probe committee headed by Shreeram Poudel has sought the files from all eight departments. A member of the committee told New Business Age that they will hand over the letters to all the departments by Thursday.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Deputy Governor Shrestha was handed the vital Department of Regulation and Supervision.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“So far, the Department of Banks and Financial Institutions has presented the files. Now we will seek files from other departments,” said the member requesting not to be named.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“It seems that it will take some time to receive all the files signed by Shrestha in the last three years,” said the source.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Shrestha has been accused of favouring Ncell in a sub judice case at the Supreme Court and also of helping banks and financial institutions to conceal bad loans. He reportedly helped Ncell take away its dividends by signing a file in the absence of another deputy governor, Chintamani Shivakoti.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“So far, we have found that Shivakoti was absent on 24 occasions due to his field trips and foreign visits. We are seeking files signed by Shrestha in his absence,” said the committee member.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">He is also accused of presenting forged bills during his official visits abroad.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">A source at the department said that Shrestha was against anti-money laundering.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">A cabinet meeting on October 17 had decided to take action against Shestha as per the recommendation of the Anti Money Laundering Department of NRB. The government then instructed the central bank to investigate Shrestha’s involvement in irregularities by abusing his power as the deputy governor of NRB. A board meeting of the central bank subsequently formed the probe committee on November 4 after which Shrestha was automatically suspended from his post as per Article 22 of the Nepal Rastra Bank Act 2058. Other members of the committee are Dr Subodh Kumar Karna and Ramji Regmi.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2019-11-07', 'modified' => '2019-11-07', 'keywords' => '', 'description' => '', 'sortorder' => '11375', 'image' => '20191107101753_20190513011832_NRB Facebook.jpg', 'article_date' => '2019-11-07 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 6 => array( 'Article' => array( 'id' => '11623', 'article_category_id' => '1', 'title' => 'Law Ministry at Loggerheads with Finance Ministry regarding formation of Revenue Board', 'sub_title' => '', 'summary' => 'November 7: The formation of the proposed Revenue Board is likely to get delayed due to differences between the Ministry of Finance and the Ministry of Law. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 7: The formation of the proposed Revenue Board is likely to get delayed due to differences between the Ministry of Finance and the Ministry of Law. The law ministry has objected to the draft sent by the finance ministry in accordance to the Development Committee Act.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The law ministry has sought explanation from the finance ministry for preparing the draft under the Development Committee Act. The Ministry of Law is of the view that preparing the draft using this particular Act would make the Revenue Board temporary in nature. Therefore, the draft of the Revenue Board which was forwarded to the law ministry before Dashain has been gathering dust.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Meanwhile, the finance ministry has said that the law ministry cannot block the implementation of the programme mentioned in the annual budget.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“The draft proposed by the finance ministry has long-term objectives. However, if the process of forming the board is temporary, the board itself can be scrapped by a government decision. We believe that it would be better to form the board of permanent nature,” said an official at the law ministry requesting anonymity.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Officials at the law ministry informed New Business Age that they held discussions with the finance ministry officials but were not able to reach to a conclusion.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“We held discussions with the officials of finance ministry. We demanded explanation for preparing the draft of the formation of the Revenue Board in accordance to the Development Committee Act. The draft is in hold as we could not get a satisfactory answer,” said the highly-placed source.</span></span></p> ', 'published' => true, 'created' => '2019-11-07', 'modified' => '2019-11-07', 'keywords' => '', 'description' => '', 'sortorder' => '11374', 'image' => '20191107095500_aaaadfg.jpg', 'article_date' => '2019-11-07 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 7 => array( 'Article' => array( 'id' => '11622', 'article_category_id' => '1', 'title' => 'NAC Announces 3 New International Destinations', 'sub_title' => '', 'summary' => 'November 7: Cash-strapped Nepal Airlines Corporation has announced to operate flights to three new international destinations within the next four months.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 7: Cash-strapped Nepal Airlines Corporation has announced to operate flights to three new international destinations within the next four months.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The state-owned airline company, which has come under fire for under-utilization of two newly procured wide-body aircraft, said it will operate flights to Japan’s Narita, Saudi Arabia’s Riyad and China’s Guangzhou by February this year.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Speaking at a press conference organized by NAC on Wednesday, Chairman Madan Kharel said that the flag carrier of Nepal will start operating flights to the new destinations as soon as the concerned bodies given them the permission.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">However, NAC is not likely to start flights to these destinations so soon, as claimed by the airline company. The airline company had earlier announced that it would operate flights to Narita and Guangzhou by December this year.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">China’s Safety Audit team must first monitor Nepal’s aviation sector and then approve the flights. The team is arriving in Kathmandu in December.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Meanwhile, the process of appointing General Sales Agent (GSA) for Riyad flights has reached the final stage. The process to initiate flight operation will begin only after finalizing the GSA.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">NAC has also announced it has started process to begin flights to seven other destinations including Beijing, Shanghai, Dhaka, Yangon, Hanoi, Phnom Penh and Colombo.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">During the press conference, NAC Chairman Kharel said that the airline company has adopted a strategy to reduce operation cost and will be saving Rs 2 billion in unnecessary spending within the current fiscal year.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Areas of austerity measures include air turbine fuel (ATF), overflight, hotel, engineering, corporate, safety among others, Kharel said.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“Lots of works of the engineering department are now being carried by the local manpower. This will help us reduce our operational cost,” said Kharel.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">He further said that arrangement has been made so that the aircraft will not have to carry extra fuel. He also said they are planning to change the current route to save fuel.</span></span></p> ', 'published' => true, 'created' => '2019-11-07', 'modified' => '2019-11-07', 'keywords' => '', 'description' => '', 'sortorder' => '11373', 'image' => '20191107091630_20180727021334_2.jpg', 'article_date' => '2019-11-07 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 8 => array( 'Article' => array( 'id' => '11626', 'article_category_id' => '1', 'title' => 'Government Forms Committee to Select New Chairman of SEBON', 'sub_title' => '', 'summary' => 'November 7: The government has formed a three-member committee to select the chairman of the Securities Board of Nepal (SEBON), which has been lying vacant since October 17.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 7: The government has formed a three-member committee to select the chairman of the Securities Board of Nepal (SEBON), which has been lying vacant since October 17.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The committee under the coordination of National Planning Commission Member DrRam Kumar Phuyal was formed on Wednesday (November 6) after the Council of Ministers on Tuesday instructed the NPC to select SEBON’s chair in coordination with the finance minstry.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Revenue secretary at the Ministry of Finance, Sishir Dhungana, and an independent expert – Krishna Acharya – are the other members of the committee.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The post is lying vacant after the term of the then chairman Rewat Bahadur Karki expired on October 17.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">A member of the committee told New Business Age that they will select a capable, experienced and dynamic person who can handle the responsibilities of SEBON.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">However, the committee is yet to decide whether to call a public notice or adopt other process to select the new chairman.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">SEBON’s officials, former executive directors of Nepal Rastra Bank and former chairpersons of ICAN are lobbying for the post. SEBON’s Executive Director Niraj Giri, who has been working with SEBON since the last 23 years is likely to vie for the post.</span></span></p> ', 'published' => true, 'created' => '2019-11-07', 'modified' => '2019-11-07', 'keywords' => '', 'description' => '', 'sortorder' => '11372', 'image' => '20191107114440_adfaf.jpg', 'article_date' => '2019-11-07 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 9 => array( 'Article' => array( 'id' => '11621', 'article_category_id' => '1', 'title' => 'Nepal-Bharat Maitri Polytechnic in Hetauda to Complete in 2 Years', 'sub_title' => '', 'summary' => 'November 6: Chief Minister of Province-3 Dormani Paudel initiated the “ground breaking ceremony” for establishment of a flagship Nepal-Bharat Maitri Polytechnic at Hetauda in Makwanpur district on Tuesday, November 5.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 6: Chief Minister of Province-3 Dormani Paudel initiated the “ground breaking ceremony” for establishment of a flagship Nepal-Bharat Maitri Polytechnic at Hetauda in Makwanpur district on Tuesday, November 5.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The polytechnic institute in Hetauda is a state-of-the-art infrastructure project in the area of vocational training and is being built under the India-Nepal Development Partnership with Indian grant of IRs 385.3 million, the Indian Embassy said in a statement.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The statement added that the total built up area of the polytechnic project would be 19,200 square meters. The facility will include an administrative block, academic block, auditorium, library, workshop, multipurpose hall, separate hostels for boys and girls, principal and staff residences and amenities for sports and communities. The project is expected to be completed in two years.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“Today's ground breaking ceremony for construction of the Nepal-Bharat Maitiri Polytechnic at Hetauda is another testimony of friendly relations between India and Nepal and also India's commitment to work with Nepal to complement efforts of Government of Nepal to strengthen infrastructure in the vocational and skill development sector in Nepal,” the statement added.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2019-11-06', 'modified' => '2019-11-06', 'keywords' => '', 'description' => '', 'sortorder' => '11371', 'image' => '20191106021016_aaaa.jpg', 'article_date' => '2019-11-06 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 10 => array( 'Article' => array( 'id' => '11620', 'article_category_id' => '1', 'title' => 'NRB Directs Microfinance Companies to form Anti-Money Laundering Committees', 'sub_title' => '', 'summary' => 'November 6: Nepal Rastra Bank has directed microfinance companies to form anti-money laundering committees. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 6: Nepal Rastra Bank has directed microfinance companies to form anti-money laundering committees. The central bank took such decision as it intensifies its anti-money laundering drive, which until now did not cover the microfinance companies.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Dr Prakash Kumar Shrestha, executive director of the Microfinance Supervision Department of NRB, said that it is mandatory for the microfinance companies to form such committees.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“The central bank has issued clear directives related to its anti-money laundering drive,” said Shrestha.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">He clarified that this measure was taken to ensure that the money earned through illegal means would not enter the banking channel.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The central bank has also made provision for microfinance companies to issue notice to blacklist bad debtors. Microfinance companies can now recommend blacklisting debtors who do not pay loan. Microfinances could not enjoy this facility before.</span></span></p> ', 'published' => true, 'created' => '2019-11-06', 'modified' => '2019-11-06', 'keywords' => '', 'description' => '', 'sortorder' => '11370', 'image' => '20191106015703_20190719115911_NRB-_-image.jpg', 'article_date' => '2019-11-06 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 11 => array( 'Article' => array( 'id' => '11619', 'article_category_id' => '218', 'title' => 'NIBL to partner with China’s UnionPay International to launch cards acceptable worldwide', 'sub_title' => '', 'summary' => 'November 6: Chief Executive Officer of Nepal Investment Bank Limited (NIBL) Jyoti Prakash Pandey and Chairman of UnionPay International Co Ltd Cai Jianbo have announced to launch NIBL UnionPay Card products in the Nepali market soon.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">November 6: Chief Executive Officer of Nepal Investment Bank Limited (NIBL) Jyoti Prakash Pandey and Chairman of UnionPay International Co Ltd Cai Jianbo have announced to launch NIBL UnionPay Card products in the Nepali market soon.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Targeting its customers visiting China for business or leisure, NIBL has plans to launch debit, credit, pre-paid travel cards and QR codes. It is reported that NIBL UnionPayCardholders can easily withdraw cash with NIBL UnionPay Cards while these cards can also be used for shopping, payments at hotels, restaurants etc in Nepal, China and worldwide, NIBL said in a statement. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">NIBL’s CEO Pandey informed that the NIBL-UnionPay International collaboration was initiated focusing on the government’s upcoming - Visit Nepal Year 2020 campaign.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">According to the statistics of Nepal Tourism Board, 153,633 Chinese tourists visited Nepal in 2018. Meanwhile, 300,000 Chinese tourists are expected to visit Nepal during Visit Nepal Year 2020.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">UnionPay International, which was established in 2012 in Shanghai, China, has been offering its services in 177 countries all around the world.</span></span></span></p> ', 'published' => true, 'created' => '2019-11-06', 'modified' => '2019-11-06', 'keywords' => '', 'description' => '', 'sortorder' => '11369', 'image' => '20191106014307_aadfaf.jpg', 'article_date' => '2019-11-06 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 12 => array( 'Article' => array( 'id' => '11618', 'article_category_id' => '237', 'title' => 'Samsung Offers Discount on Galaxy Buds', 'sub_title' => '', 'summary' => 'November 6: Samsung has announces “Power of 10” offer to celebrate 10 years of its smartphone launch.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Tahoma","sans-serif"">November 6: Samsung has announces “Power of 10” offer to celebrate 10 years of its smartphone launch. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Tahoma","sans-serif"">Under this scheme, the customers who buy Galaxy Note10/Note10+ and S10/S10+ will be eligible to get Galaxy Buds at 51 percent discount.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Tahoma","sans-serif"">The customers can get the Galaxy Buds at a discount rate of Rs 6,990, the company said in a statement.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Tahoma","sans-serif"">The offer will be valid from November 3 to December 15. </span></span></span></span></p> ', 'published' => true, 'created' => '2019-11-06', 'modified' => '2019-11-06', 'keywords' => '', 'description' => '', 'sortorder' => '11368', 'image' => '20191106013702_aaaa.jpg', 'article_date' => '2019-11-06 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 13 => array( 'Article' => array( 'id' => '11617', 'article_category_id' => '1', 'title' => 'Transshipment Cost Rising due to Lack of Regulation', 'sub_title' => '', 'summary' => 'November 6: Nepali businessmen have been forced to pay heavy price for transportation of goods for overseas business as the foreign shipping companies fall outside the ambit of the country’s law.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 6: Nepali businessmen have been forced to pay heavy price for transportation of goods for overseas business as the foreign shipping companies fall outside the ambit of the country’s law.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The importers blame the government’s inefficiency and lack of effective measures for the random charges shipping companies have been imposing on Nepali businessmen. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The transportation cost via Kolkata Port, which is extensively used by Nepali importers for overseas trade, has surprisingly increased after the two countries initiated a number of measures to facilitate the flow of goods including the electronic cargo tracking system, says Ashok Kumar Temani, chairperson of the Transportation and Transshipment Committee of the Federation of Nepalese Chambers of Commerce and Industries (FNCCI).</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“The transportation cost increased after implementation of direct transshipment of goods between the two countries via Kolkata,” said Temani.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“We were expecting to reduce both time and cost after implementing this mode of transportation but the result was exactly the opposite,” he added.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The government has said it will formulate laws to bring the shipping companies under its regulation. However, there are doubts that the laws can regulate the companies which have a worldwide network.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Not just Nepal, but India itself is a victim of monopoly of the shipping companies, complain officials at Kolkata Port.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Importers on the other hand say that the shipping companies have been charging freight charge, railway charge, terminal holding charge, ECTS charge among others at their whims.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Container Corporation of India Ltd (CONCOR) has set a uniform price for all shipping companies but such companies have been charging different rates to Nepali importers, says Amrit Shrestha, a Kolkata-based customs house agent.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Kolkata Port had initiated Direct Transshipment for Nepali goods on February 15 earlier this year. To facilitate this system, the customs office of the port had made it mandatory to implement the ECTS. However, the High Court of Kolkata made this process non-binding.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Nepal’s consul general to Kolkata Eknarayan Aryal says that the foreign shipping companies will also be brought under regulation once the government formulates laws.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“The government has expedited the process to formulate laws,” said Aryal, adding, “We have adopted a strategy to increase competition among the shipping companies to reduce the cost.” </span></span></p> ', 'published' => true, 'created' => '2019-11-06', 'modified' => '2019-11-06', 'keywords' => '', 'description' => '', 'sortorder' => '11367', 'image' => '20191106012745_Kolkata.jpg', 'article_date' => '2019-11-06 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 14 => array( 'Article' => array( 'id' => '11616', 'article_category_id' => '1', 'title' => 'Government to Reopen Duty-Free Shop at TIA', 'sub_title' => '', 'summary' => 'November 6: Tribhuvan International Airport (TIA) has prepared a work plan for reopening duty-free shop at the airport. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 6: Tribhuvan International Airport (TIA) has prepared a work plan for reopening duty-free shop at the airport. TIA has already submitted the work plan after conducting a detailed study in this regard.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Two months ago, Minister for Culture, Tourism and Civil Aviation Yogesh Bhattarai had asked the airport authorities to prepare a list of items required for reopening the duty-free shop at TIA.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Ministry of Culture, Tourism and Civil Aviation has decided to reopen the duty-free shop at TIA after 11 years. Sources at the ministry informed New Business Age that the ministry decided to reopen the duty-free shop at the international terminal of TIA as per the demands of foreign visitors as well as Nepali travelers.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Following the minister’s instructions, the airport management had formed a committee to study the prospect of duty-free shop at TIA. Spokesperson for the TIA Pratap Babu Tiwari said that they submitted the work plan prepared by the same committee to the ministry.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">He said that further action will be taken after holding discussion on the work plan submitted by the airport. The duty free shop was closed by the government led by Baburam Bhattarai in 2008. </span></span></p> ', 'published' => true, 'created' => '2019-11-06', 'modified' => '2019-11-06', 'keywords' => '', 'description' => '', 'sortorder' => '11366', 'image' => '20191106122050_aadsffg.jpg', 'article_date' => '2019-11-06 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, '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
