November 6: The world economy could be boosted by as much as $100 billion a year if employers successfully encouraged their staff to meet the World Health Organization guidelines on exercise, according to an analysis of the economic impact of…
November 6: The world economy could be boosted by as much as $100 billion a year if employers successfully encouraged their staff to meet the World Health Organization guidelines on exercise, according to an analysis of the economic impact of…
November 5: President Bidya Devi Bhandari has appointed new governors in all seven provinces as per the recommendation of the…
November 5: A board meeting of Nepal Rastra Bank has formed a three-member probe committee to investigate into alleged irregularities against its deputy governor Shiva Raj…
November 5: The United Arab Emirates (UAE) has agreed to immediately implement the labour pact signed with Nepal about five months ago.…
November 5: The government has prepared a draft law to split the Civil Aviation Authority of Nepal (CAAN) into two separate entities – a regulatory body and a service…
November 5: District Court, Kathmandu has sent former speaker of the House of Representatives Krishna Bahadur Mahara to Dillibazar Prison in an attempt to rape case filed by Roshani Shahi, a staffer at the Parliament…
November 5: The District Attorney’s Office, Rautahat has registered case against Nepali Congress lawmaker Mohammad Aftab Alam on charges of murder, attempted murder and bomb…
November 4: The Department of Roads has started preparations for upgrading the Kalanki-Chabahil section of Ring Road into eight lanes.…
November 4: Nepal Rastra Bank has suspended its Deputy Governor Shiva Raj Shrestha for his alleged involvement in irregularities.…
November 4: The government is preparing to launch the work procedure of the Social Security Fund after the scheme failed to attract commercial…
November 4: The government on Sunday sacked governors of all seven provinces.…
November 4: A board meeting of Nepal Rastra Bank on Sunday to discuss the allegations of irregularities against its Deputy Governor Shiva Raj Shrestha failed to take any official…
November 3: Nine investors on Friday (November 1) signed a record agreement to invest a total of Rs 51.18 billion (US$ 453 million) for the Upper Trishuli-1 Hydropower Project.…
November 3: Himalayan Capital Limited, a wholly owned subsidiary of Himalayan Bank, has formally commenced its operations from November 1.…
November 3: Nepal Life Insurance Company has opened its branch at Dunai,…
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According to Reuters, the study was conducted by the health insurance group Vitality and the think tank RAND Europe.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The economic boost would come from lower mortality rates - in other words keeping more people alive, working and contributing to the economy for longer, the study’s authors said, and from employees taking fewer days off sick.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Hans Pung, RAND Europe’s president, said the study highlighted “a significant relationship between inactivity and productivity loss” and should give policymakers and employers “new perspectives on how to enhance the productivity of their populations”.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The WHO recommends that all adults should take at least 150 minutes of moderate exercise, or 75 minutes of vigorous exercise, a week. In a study last year it found that around 40 percent of adults in the United States, 36 percent in Britain and 14 percent in China did too little exercise to stay healthy.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The recent study was based on data from about 120,000 people across seven countries. It then modeled and projected the potential economic benefits of increased physical activity globally and for 23 individual countries.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">According to Reuters, the study found that if all adults aged between 18 and 64 walked 15 more minutes a day, it could increase world economic output by some $100 billion year on year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">It also found that physically inactive 40-year-olds could increase their life expectancy, on average, by 3.2 years, by introducing 20 minutes of jogging a day.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2019-11-06', 'modified' => '2019-11-06', 'keywords' => '', 'description' => '', 'sortorder' => '11365', 'image' => '20191106082726_aaaa.jpg', 'article_date' => '2019-11-06 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 1 => array( 'Article' => array( 'id' => '11614', 'article_category_id' => '1', 'title' => 'President Appoints New Governors in All Seven Provinces', 'sub_title' => '', 'summary' => 'November 5: President Bidya Devi Bhandari has appointed new governors in all seven provinces as per the recommendation of the government.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">November 5: President Bidya Devi Bhandari has appointed new governors in all seven provinces as per the recommendation of the government.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">A cabinet meeting on Monday had recommended names for the governors of the seven provinces. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The government had recommended Somnath Adhikari for the post of governor of Province 1. Likewise, Tilak Pariyar was recommended as governor of Province 2, Bishnu Prasai for Province 3, Amik Sherchan for Gandaki Province, Dharmanath Yadav for Province 5, Govinda Kalauni for Karnali Province and Sharmila Tripathi for Sudur Paschim Province.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The names were suggested to the government by a secretariat meeting of the ruling Nepal Communist Party earlier on Monday.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The new governors were appointed following an understanding between NCP co-chairs KP Sharma Oli and Pushpa Kamal Dahal to allot four seats to former UML candidates and three to former Maoist Centre candidates.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Governors Adhikari, Yadav, Kalauni and Prasai were backed by PM Oli while Dahal supported Sherchan, Pariyar and Tripathi.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">President Bhandari administered oath of office and secrecy to the newly appointed governors on Tuesday morning.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The government had dismissed the former governors, who were appointed by the government led by Sher Bahadur Deuba about 21 months ago, on Sunday.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, senior leader of NCP Madhav Kumar Nepal has registered a note of dissent with the party regarding recommendations of names for the posts of governor. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2019-11-05', 'modified' => '2019-11-05', 'keywords' => '', 'description' => '', 'sortorder' => '11364', 'image' => '20191105111919_20191104092741_Clipboard01.jpg', 'article_date' => '2019-11-05 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 2 => array( 'Article' => array( 'id' => '11613', 'article_category_id' => '1', 'title' => 'Probe Committee to Investigate Alleged Irregularities against Dy Governor of NRB', 'sub_title' => '', 'summary' => 'November 5: A board meeting of Nepal Rastra Bank has formed a three-member probe committee to investigate into alleged irregularities against its deputy governor Shiva Raj Shrestha.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 5: A board meeting of Nepal Rastra Bank has formed a three-member probe committee to investigate into alleged irregularities against its deputy governor Shiva Raj Shrestha. With the formation of the committee on Monday (November 4), Shrestha has been automatically suspended from his post as per Article 22 of the Nepal Rastra Bank Act 2058.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The government had instructed the central bank to investigate Shrestha’s involvement in irregularities by abusing his power as the deputy governor of NRB.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The probe committee is headed by Shreeram Poudel. Other members of the committee are Dr Subodh Kumar Karna and Ramji Regmi.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The central bank has given one month’s time for the committee to complete the investigation.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Shrestha can be sacked from his post if the committee recommends his removal.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The first meeting of the committee on Monday itself decided to seek the details of charges against Shrestha from the Anti Money Laundering Department of NRB.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">A member of the probe committee said that they decided to seek the details from the department as the letter sent to the central bank by the Ministry of Finance is not clear about the accusations against Shrestha.</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.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The probe committee is also preparing to take statements from other accused.</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 is also accused of presenting forged bills during his foreign official visits.</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. Amid these allegations, the department had written a letter to the government to take action against Shrestha.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2019-11-05', 'modified' => '2019-11-05', 'keywords' => '', 'description' => '', 'sortorder' => '11363', 'image' => '20191105105909_20191104090010_20190719115911_NRB-_-image.jpg', 'article_date' => '2019-11-05 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 3 => array( 'Article' => array( 'id' => '11610', 'article_category_id' => '1', 'title' => 'UAE Agrees to Implement Labour Pact', 'sub_title' => 'Migrant workers will not have to pay any amount to manpower companies', 'summary' => 'November 5: The United Arab Emirates (UAE) has agreed to immediately implement the labour pact signed with Nepal about five months ago. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 5: The United Arab Emirates (UAE) has agreed to immediately implement the labour pact signed with Nepal about five months ago. A two-day meeting of the officials from Nepal and the UAE in Kathmandu decided to implement the agreement reached between the two countries.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The meeting has finalized the process of supplying workers and the cost of sending them to the UAE, informed Labour Secetary Ram Prasad Ghimire, who led the Nepali delegation.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Now, the migrant workers going to the UAE will not have to pay any amount to the manpower companies. The companies will get service charge directly from the employers.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to Ghimire, migrant workers do not have to pay any charge except orientation fee, welfare charge and life insurance.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Nepal and the UAE had signed a ministerial-level agreement on labour pact during International Labour Conference held in Geneva on June 14 earlier this year to mark the centenary of ILO.</span></span></p> ', 'published' => true, 'created' => '2019-11-05', 'modified' => '2019-11-05', 'keywords' => '', 'description' => '', 'sortorder' => '11362', 'image' => '20191105092259_1572912262.jpg', 'article_date' => '2019-11-05 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 4 => array( 'Article' => array( 'id' => '11609', 'article_category_id' => '1', 'title' => 'Government Prepares Draft Law to Split CAAN', 'sub_title' => '', 'summary' => 'November 5: The government has prepared a draft law to split the Civil Aviation Authority of Nepal (CAAN) into two separate entities – a regulatory body and a service provider.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 5: The government has prepared a draft law to split the Civil Aviation Authority of Nepal (CAAN) into two separate entities – a regulatory body and a service provider.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to the Ministry of Culture, Tourism and Civil Aviation, it has incorporated suggestions from the finance, home and foreign ministries in the draft. Now, the ministry is awaiting for suggestions from the law ministry before forwarding the draft to the Council of Ministers.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Secretary at the Ministry of Culture, Tourism and Civil Aviation Kedar Bahadur Adhikari said that the draft is almost ready and will be presented to the cabinet after Tourism Minister Yogesh Bhattarai returns from his foreign trip.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The draft has proposed splitting CAAN into Civil Aviation Authority as the regulatory body and Air Service Authority as the service provider.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The government decided to split the CAAN into two entities as per the demand of the International Civil Aviation Organisation (ICAO) and the European Union, which has banned Nepali airline companies.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Nepali airline companies have not been able to operate flights to European countries due to the ban imposed by EU. The government believes that splitting CAAN will help address the concerns of EU.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">EU imposed the ban on Nepal in 2013 following the deaths of 19 passengers, including seven Britons, in a plane crash of Sita Air in September 2012.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The government decided to split CAAN into regulatory body and service provider about four months ago to make air service in Nepal safe and effective.</span></span></p> ', 'published' => true, 'created' => '2019-11-05', 'modified' => '2019-11-05', 'keywords' => '', 'description' => '', 'sortorder' => '11361', 'image' => '20191105085928__MG_9719.JPG', 'article_date' => '2019-11-05 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 5 => array( 'Article' => array( 'id' => '11611', 'article_category_id' => '1', 'title' => 'Mahara Sent to Dillibazar Jail', 'sub_title' => '', 'summary' => 'November 5: District Court, Kathmandu has sent former speaker of the House of Representatives Krishna Bahadur Mahara to Dillibazar Prison in an attempt to rape case filed by Roshani Shahi, a staffer at the Parliament Secretariat.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 5: District Court, Kathmandu has sent former speaker of the House of Representatives Krishna Bahadur Mahara to Dillibazar Prison in an attempt to rape case filed by Roshani Shahi, a staffer at the Parliament Secretariat.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Chief of the District Court, Judge Sudarshan Raj Pandey issued an order on Monday to keep Mahara in judicial custody until the final verdict.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The government lawyers and Mahara’s defense lawyers presented their views during the hearing on Monday after which the judge issued such order.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Senior advocates Raman Kumar Shrestha, Sher Bahadur KC, Kabita Bhandari Baral and Krishna Prasad Sapkota defended Mahara on the second day of the hearing while government lawyers demanded extending his custody.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Mahara, who was arrested on October 6, said before the judge that he had not visited the room of the alleged victim Roshani Shahi. He said that Shahi was a family friend and he had only talked with her over the phone.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2019-11-05', 'modified' => '2019-11-05', 'keywords' => '', 'description' => '', 'sortorder' => '11360', 'image' => '20191105101502_1572876819.jpg', 'article_date' => '2019-11-05 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 6 => array( 'Article' => array( 'id' => '11612', 'article_category_id' => '1', 'title' => 'Case Registered Against Alam', 'sub_title' => '', 'summary' => 'November 5: The District Attorney’s Office, Rautahat has registered case against Nepali Congress lawmaker Mohammad Aftab Alam on charges of murder, attempted murder and bomb blast.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 5: The District Attorney’s Office, Rautahat has registered case against Nepali Congress lawmaker Mohammad Aftab Alam on charges of murder, attempted murder and bomb blast.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">District Attorney Khandi Raj Katuwal confirmed that the office filed case against Alam on Monday, November 4.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Alam was arrested three weeks ago in connection to a crime committed on the eve of the Constituent Assembly election in 2008 when he burnt alive the survivors of an accidental bomb blast, which was being prepared at his behest.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">At least a dozen people were killed in the bomb blast, which was intended for the elections to ensure Alam’s victory. Katuwal, citing eyewitnesses, said that Alam burnt the survivors of the blast to hide the evidence. </span></span></p> ', 'published' => true, 'created' => '2019-11-05', 'modified' => '2019-11-05', 'keywords' => '', 'description' => '', 'sortorder' => '11359', 'image' => '20191105102832_download.jpg', 'article_date' => '2019-11-05 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 7 => array( 'Article' => array( 'id' => '11607', 'article_category_id' => '1', 'title' => 'Kalanki-Chabahil Section of Ring Road to be Upgraded into 8 Lanes', 'sub_title' => '', 'summary' => 'November 4: The Department of Roads has started preparations for upgrading the Kalanki-Chabahil section of Ring Road into eight lanes. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 4: The Department of Roads has started preparations for upgrading the Kalanki-Chabahil section of Ring Road into eight lanes. The road section is being upgraded under the second phase of Ring Road Development Project with the support from the Chinese government.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The government has already upgraded Koteshwar-Kalanki section of Ring Road with the support from the Chinese government in the first phase. China’s Shanghai Construction Group had bagged the contract to expand the road section. The same construction company will complete upgrading the remaining parts of the Ring Road.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Detailed Project Report of the project is almost complete and the Chinese company will hand over the DPR to the government after ‘site clearance’, informed Keshav Sharma, director general of the Department of Roads.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to Sharma, the department is preparing to cut trees, shift poles and dismantle bridges and houses that fall on the route. He said that the process of felling trees and shifting electricity poles has already begun.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">In course of site clearance, the department has already shifted 500 poles and cut down 300 trees, the department informed. Altogether 2100 trees need to be cut to widen the road.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">As per the plan, the road will be 62 metres wide.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Ring Road Development Project will give compensation to 50 houses and dismantle the structures, said project chief Amrit Mani Rimal.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The total cost of site clearance is estimated to be Rs 3 billion including Rs 1.5 billion for compensation.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The department informed New Business Age that a section of Nepalese Army barracks in Sitapaila and the overhead bridge at New Bus Park area.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The department is not clear on whether to expand the road from Chabahil to Gaushala as the road section has lots of houses. Expanding the road would also endanger some ancient structures that fall in the World Heritage Site.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2019-11-04', 'modified' => '2019-11-04', 'keywords' => '', 'description' => '', 'sortorder' => '11358', 'image' => '20191104012312_5c98463ca3104842e4a54d54.jpeg', 'article_date' => '2019-11-04 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 8 => array( 'Article' => array( 'id' => '11608', 'article_category_id' => '1', 'title' => 'Central Bank Suspends Deputy Governor Shrestha', 'sub_title' => '', 'summary' => 'November 4: Nepal Rastra Bank has suspended its Deputy Governor Shiva Raj Shrestha for his alleged involvement in irregularities. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">November 4: Nepal Rastra Bank has suspended its Deputy Governor Shiva Raj Shrestha for his alleged involvement in irregularities. The central bank on Monday formed a three-member probe committee for investigating into the matter.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Nepal Rastra Bank formed the committee headed by Shreeram Poudel following instruction from the government to probe into the matter. Other members of the committee are Dr Subodh Kumar Karna and Ramji Regmi.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The central bank has given one month’s time for the committee to complete the investigation.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:11.0pt"><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. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2019-11-04', 'modified' => '2019-11-04', 'keywords' => '', 'description' => '', 'sortorder' => '11357', 'image' => '20191104013031_1572845125.jpg', 'article_date' => '2019-11-04 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 9 => array( 'Article' => array( 'id' => '11606', 'article_category_id' => '1', 'title' => 'Social Security Fund to Provide Loan to Contributors', 'sub_title' => '', 'summary' => 'November 4: The government is preparing to launch the work procedure of the Social Security Fund after the scheme failed to attract commercial enterprises.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 4: The government is preparing to launch the work procedure of the Social Security Fund after the scheme failed to attract commercial enterprises. Even the employees have shown reluctance to get listed in the contribution-based scheme as the return is not as attractive as that of the Employee Provident Fund (EPF) and the Citizens Investment Trust (CIT). The workers are hesitant to contribute to the fund because they cannot get any benefit from the scheme or utilize any amount during emergency until they retire.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The government has realized the need for policy level reforms due to the discouraging participation of the private sector in the scheme. Only 8,000 enterprises have enlisted in the scheme as of mid-October.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">In this context, the Social Security Fund has prepared a work procedure to provide loans to the contributors under 12 different heads including home loan, educational loan among others.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Ministry of Labour, Employment and Social Security said that the work procedure has been sent to the Council of Ministers for approval.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Executive Director of the Social Security Fund Kapil Mani Gyawali told New Business Age that the new offers mentioned in the work procedure are more attractive than the facilities provided by the EPF and CIT.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">He said that the work procedure will be implemented as soon as it gets approved by the cabinet.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Gyawali further said that they decided to provide loan as per the international practice.</span></span></p> ', 'published' => true, 'created' => '2019-11-04', 'modified' => '2019-11-04', 'keywords' => '', 'description' => '', 'sortorder' => '11356', 'image' => '20191104101107_20190129043642_a.jpg', 'article_date' => '2019-11-04 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 10 => array( 'Article' => array( 'id' => '11605', 'article_category_id' => '1', 'title' => 'Government Removes Governors of All 7 Provinces', 'sub_title' => '', 'summary' => 'November 4: The government on Sunday sacked governors of all seven provinces. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 4: The government on Sunday sacked governors of all seven provinces. President Bidya Devi Bhandari relieved the governors of their duties upon the recommendation of the Council of Ministers.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The decision has removed Province 1 Governor Dr Govinda Bahadur Tumbahang, Province 2 Governor Ratneshwar Lal Kayastha, Province 3 Governor Anuradha Koirala, Gandaki Province Governor Baburam Kunwar, Province 5 Governor Umakanta Jha, Karmali Province Governor Durga Keshar Khanal and Sudur Paschim Province Governor Mohan Raj Malla from their posts.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The government was planning to name the new governors on the same day but later decided to appoint the governors on Monday as the ruling Nepal Communist Party could not reach a decision on this issue. The then government led by Sher Bahadur Deuba had appointed the governors on January 17, 2018.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The constitution has a provision of appointing chief of each of the seven provinces as the representatives of the government. The new government formed under the leadership of KP Sharma Oli had earlier tried to remove the governors but did not succeed. This time, the President’s Office informed in a statement that the governors were relieved of their duties as per Article 165 of the constitution. Unless the governors are removed from their posts, they can enjoy a term of five years as the head of the provinces.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Meanwhile, the main opposition Nepali Congress has raised objections to the removal of the governors. NC said that the government’s decision to sack the governors is biased.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2019-11-04', 'modified' => '2019-11-04', 'keywords' => '', 'description' => '', 'sortorder' => '11355', 'image' => '20191104092741_Clipboard01.jpg', 'article_date' => '2019-11-04 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 11 => array( 'Article' => array( 'id' => '11604', 'article_category_id' => '1', 'title' => 'Central Bank to Probe Allegations of Irregularities against its Deputy Governor', 'sub_title' => '', 'summary' => 'November 4: A board meeting of Nepal Rastra Bank on Sunday to discuss the allegations of irregularities against its Deputy Governor Shiva Raj Shrestha failed to take any official decision.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 4: A board meeting of Nepal Rastra Bank on Sunday to discuss the allegations of irregularities against its Deputy Governor Shiva Raj Shrestha failed to take any official decision.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The government had instructed the central bank to investigate Shrestha’s involvement in irregularities by abusing his power as the deputy governor of NRB.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">A source at the central bank informed New Business Age that the board meeting didn’t take the matter seriously. The source said that the meeting only held a general discussion regarding the issue. </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. The government had instructed the central bank to investigate into these allegations.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Although Sunday’s meeting decided to from a probe committee, one of the board members present in the meeting told New Business Age that the meeting held informal discussions regarding the matter.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to the board member, Sunday’s meeting has called for another meeting on Monday morning to take a formal decision in this issue.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The government can relieve Shrestha of his duties if the probe committee finds him guilty and the board recommends his removal from the post.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Shrestha, who was appointed deputy governor of Nepal Rastra Bank in 2072, oversees the Supervision Department of the central bank.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2019-11-04', 'modified' => '2019-11-05', 'keywords' => '', 'description' => '', 'sortorder' => '11354', 'image' => '20191104090010_20190719115911_NRB-_-image.jpg', 'article_date' => '2019-11-04 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 12 => array( 'Article' => array( 'id' => '11603', 'article_category_id' => '1', 'title' => 'Investors sign Record Rs 51 billion Agreement for Upper Trishuli Hydropower Project', 'sub_title' => '', 'summary' => 'November 3: Nine investors on Friday (November 1) signed a record agreement to invest a total of Rs 51.18 billion (US$ 453 million) for the Upper Trishuli-1 Hydropower Project. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 3: Nine investors on Friday (November 1) signed a record agreement to invest a total of Rs 51.18 billion (US$ 453 million) for the Upper Trishuli-1 Hydropower Project. The 216-megawatt project is the biggest project of Nepal in terms of investment.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">World Bank Group’s sister organization IFC, Asian Development Bank, Asian Infrastructure Development Bank, Korean Exim Bank, among others signed the agreement with the promoter of the project Nepal Water and Energy Development Company amid a function in the capital on Friday. Finance Minister Dr Yuba Raj Khatiwada and Energy Minister Barsha Man Pun were present during the signing ceremony.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The total cost of the project is estimated to be US$ 647 million. Seventy percent cost of the project will be raised through loan.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">As per the agreement, IFC will be providing a loan investment of US$ 160 million, ADB will be investing US$ 60 million, Asian Infrastructure Bank (US$ 39.6 million), Korean Exim Bank (US$ 100 million), Korean Development Bank (US$ 30.8 million). Likewise, CDC Group will invest US$ 21.9 million, while other investors include Netherlands Development Finance Company (US$ 15.4 million), French Development Financial Institute (US$ 11 million), Opec Fund for International Development (US$ 13.2 million). </span></span></p> <p> </p> ', 'published' => true, 'created' => '2019-11-03', 'modified' => '2019-11-03', 'keywords' => '', 'description' => '', 'sortorder' => '11353', 'image' => '20191103013830_1572746800.jpg', 'article_date' => '2019-11-03 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 13 => array( 'Article' => array( 'id' => '11602', 'article_category_id' => '266', 'title' => 'Himalayan Capital Limited Starts Operation', 'sub_title' => '', 'summary' => 'November 3: Himalayan Capital Limited, a wholly owned subsidiary of Himalayan Bank, has formally commenced its operations from November 1. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Preeti"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">November 3: Himalayan Capital Limited, a wholly owned subsidiary of Himalayan Bank, has formally commenced its operations from November 1. Manoj Bahadur Shrestha, chairman of the Board of Directors of Himalayan Bank Limited, inaugurated the organization amid a recent function and formally announced the commencement of business operations. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Preeti"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to a statement issued by the company, Himalayan Capital Limited has been established w</span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">ith a paid-up capital of Rs 200 million and </span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">strives to provide the best merchant banking and investment banking services to its customers. Himalayan Capital Limited obtained its operating license from Securities Board of Nepal on August 11, 2019.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Preeti"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Himalayan Capital Limited will provide a variety of Merchant Banking Services to its customers namely Issue Management, Share Registrar, Securities Underwriting, Portfolio Management, Corporate Advisory and DEMAT/ DP Services. Speaking at the ceremony, Chairman Shrestha applauded the major transformative changes observed in the scope and depth of the Nepali capital markets and ensured that the spirit of the movement would be carried forward by the capital focusing on providing the highest quality service to its valued customers. </span></span></span></span></p> ', 'published' => true, 'created' => '2019-11-03', 'modified' => '2019-11-03', 'keywords' => '', 'description' => '', 'sortorder' => '11352', 'image' => '20191103011525_HBL.JPG', 'article_date' => '2019-11-03 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 14 => array( 'Article' => array( 'id' => '11601', 'article_category_id' => '266', 'title' => 'Nepal Life Insurance Opens Branch in Dunai', 'sub_title' => '', 'summary' => 'November 3: Nepal Life Insurance Company has opened its branch at Dunai, Dolpa.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 3: Nepal Life Insurance Company has opened its branch at Dunai, Dolpa. Insurance Board’s Chairman Chiranjibi Chapagain inaugurated the branch amid a function on Friday, November 1.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Chapagain said that the branch will help the customers not only ensure their safety but also help cultivating saving habit. Likewise, the company’s CEO Vivek Jha claimed that the company holds one third of the total insurance market.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">At present, the company has a total paid-up capital of Rs 5.50 billion and investment of Rs 77.54 billion.</span></span></p> ', 'published' => true, 'created' => '2019-11-03', 'modified' => '2019-11-03', 'keywords' => '', 'description' => '', 'sortorder' => '11351', 'image' => '20191103010842_dolpa branch opening photo.jpg', 'article_date' => '2019-11-03 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '20' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '11615', 'article_category_id' => '1', 'title' => 'An extra 15-Minute Daily Walk Could Boost Global Economy: Study', 'sub_title' => '', 'summary' => 'November 6: The world economy could be boosted by as much as $100 billion a year if employers successfully encouraged their staff to meet the World Health Organization guidelines on exercise, according to an analysis of the economic impact of activity.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">November 6: The world economy could be boosted by as much as $100 billion a year if employers successfully encouraged their staff to meet the World Health Organization guidelines on exercise, according to an analysis of the economic impact of activity.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Reuters reported that adding an extra 15 minutes of daily walking, or jogging a steady one kilometer each day, would improve productivity and extend life expectancy - leading to more economic growth. According to Reuters, the study was conducted by the health insurance group Vitality and the think tank RAND Europe.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The economic boost would come from lower mortality rates - in other words keeping more people alive, working and contributing to the economy for longer, the study’s authors said, and from employees taking fewer days off sick.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Hans Pung, RAND Europe’s president, said the study highlighted “a significant relationship between inactivity and productivity loss” and should give policymakers and employers “new perspectives on how to enhance the productivity of their populations”.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The WHO recommends that all adults should take at least 150 minutes of moderate exercise, or 75 minutes of vigorous exercise, a week. In a study last year it found that around 40 percent of adults in the United States, 36 percent in Britain and 14 percent in China did too little exercise to stay healthy.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The recent study was based on data from about 120,000 people across seven countries. It then modeled and projected the potential economic benefits of increased physical activity globally and for 23 individual countries.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">According to Reuters, the study found that if all adults aged between 18 and 64 walked 15 more minutes a day, it could increase world economic output by some $100 billion year on year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">It also found that physically inactive 40-year-olds could increase their life expectancy, on average, by 3.2 years, by introducing 20 minutes of jogging a day.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2019-11-06', 'modified' => '2019-11-06', 'keywords' => '', 'description' => '', 'sortorder' => '11365', 'image' => '20191106082726_aaaa.jpg', 'article_date' => '2019-11-06 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 1 => array( 'Article' => array( 'id' => '11614', 'article_category_id' => '1', 'title' => 'President Appoints New Governors in All Seven Provinces', 'sub_title' => '', 'summary' => 'November 5: President Bidya Devi Bhandari has appointed new governors in all seven provinces as per the recommendation of the government.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">November 5: President Bidya Devi Bhandari has appointed new governors in all seven provinces as per the recommendation of the government.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">A cabinet meeting on Monday had recommended names for the governors of the seven provinces. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The government had recommended Somnath Adhikari for the post of governor of Province 1. Likewise, Tilak Pariyar was recommended as governor of Province 2, Bishnu Prasai for Province 3, Amik Sherchan for Gandaki Province, Dharmanath Yadav for Province 5, Govinda Kalauni for Karnali Province and Sharmila Tripathi for Sudur Paschim Province.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The names were suggested to the government by a secretariat meeting of the ruling Nepal Communist Party earlier on Monday.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The new governors were appointed following an understanding between NCP co-chairs KP Sharma Oli and Pushpa Kamal Dahal to allot four seats to former UML candidates and three to former Maoist Centre candidates.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Governors Adhikari, Yadav, Kalauni and Prasai were backed by PM Oli while Dahal supported Sherchan, Pariyar and Tripathi.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">President Bhandari administered oath of office and secrecy to the newly appointed governors on Tuesday morning.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The government had dismissed the former governors, who were appointed by the government led by Sher Bahadur Deuba about 21 months ago, on Sunday.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, senior leader of NCP Madhav Kumar Nepal has registered a note of dissent with the party regarding recommendations of names for the posts of governor. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2019-11-05', 'modified' => '2019-11-05', 'keywords' => '', 'description' => '', 'sortorder' => '11364', 'image' => '20191105111919_20191104092741_Clipboard01.jpg', 'article_date' => '2019-11-05 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 2 => array( 'Article' => array( 'id' => '11613', 'article_category_id' => '1', 'title' => 'Probe Committee to Investigate Alleged Irregularities against Dy Governor of NRB', 'sub_title' => '', 'summary' => 'November 5: A board meeting of Nepal Rastra Bank has formed a three-member probe committee to investigate into alleged irregularities against its deputy governor Shiva Raj Shrestha.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 5: A board meeting of Nepal Rastra Bank has formed a three-member probe committee to investigate into alleged irregularities against its deputy governor Shiva Raj Shrestha. With the formation of the committee on Monday (November 4), Shrestha has been automatically suspended from his post as per Article 22 of the Nepal Rastra Bank Act 2058.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The government had instructed the central bank to investigate Shrestha’s involvement in irregularities by abusing his power as the deputy governor of NRB.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The probe committee is headed by Shreeram Poudel. Other members of the committee are Dr Subodh Kumar Karna and Ramji Regmi.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The central bank has given one month’s time for the committee to complete the investigation.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Shrestha can be sacked from his post if the committee recommends his removal.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The first meeting of the committee on Monday itself decided to seek the details of charges against Shrestha from the Anti Money Laundering Department of NRB.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">A member of the probe committee said that they decided to seek the details from the department as the letter sent to the central bank by the Ministry of Finance is not clear about the accusations against Shrestha.</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.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The probe committee is also preparing to take statements from other accused.</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 is also accused of presenting forged bills during his foreign official visits.</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. Amid these allegations, the department had written a letter to the government to take action against Shrestha.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2019-11-05', 'modified' => '2019-11-05', 'keywords' => '', 'description' => '', 'sortorder' => '11363', 'image' => '20191105105909_20191104090010_20190719115911_NRB-_-image.jpg', 'article_date' => '2019-11-05 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 3 => array( 'Article' => array( 'id' => '11610', 'article_category_id' => '1', 'title' => 'UAE Agrees to Implement Labour Pact', 'sub_title' => 'Migrant workers will not have to pay any amount to manpower companies', 'summary' => 'November 5: The United Arab Emirates (UAE) has agreed to immediately implement the labour pact signed with Nepal about five months ago. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 5: The United Arab Emirates (UAE) has agreed to immediately implement the labour pact signed with Nepal about five months ago. A two-day meeting of the officials from Nepal and the UAE in Kathmandu decided to implement the agreement reached between the two countries.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The meeting has finalized the process of supplying workers and the cost of sending them to the UAE, informed Labour Secetary Ram Prasad Ghimire, who led the Nepali delegation.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Now, the migrant workers going to the UAE will not have to pay any amount to the manpower companies. The companies will get service charge directly from the employers.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to Ghimire, migrant workers do not have to pay any charge except orientation fee, welfare charge and life insurance.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Nepal and the UAE had signed a ministerial-level agreement on labour pact during International Labour Conference held in Geneva on June 14 earlier this year to mark the centenary of ILO.</span></span></p> ', 'published' => true, 'created' => '2019-11-05', 'modified' => '2019-11-05', 'keywords' => '', 'description' => '', 'sortorder' => '11362', 'image' => '20191105092259_1572912262.jpg', 'article_date' => '2019-11-05 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 4 => array( 'Article' => array( 'id' => '11609', 'article_category_id' => '1', 'title' => 'Government Prepares Draft Law to Split CAAN', 'sub_title' => '', 'summary' => 'November 5: The government has prepared a draft law to split the Civil Aviation Authority of Nepal (CAAN) into two separate entities – a regulatory body and a service provider.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 5: The government has prepared a draft law to split the Civil Aviation Authority of Nepal (CAAN) into two separate entities – a regulatory body and a service provider.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to the Ministry of Culture, Tourism and Civil Aviation, it has incorporated suggestions from the finance, home and foreign ministries in the draft. Now, the ministry is awaiting for suggestions from the law ministry before forwarding the draft to the Council of Ministers.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Secretary at the Ministry of Culture, Tourism and Civil Aviation Kedar Bahadur Adhikari said that the draft is almost ready and will be presented to the cabinet after Tourism Minister Yogesh Bhattarai returns from his foreign trip.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The draft has proposed splitting CAAN into Civil Aviation Authority as the regulatory body and Air Service Authority as the service provider.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The government decided to split the CAAN into two entities as per the demand of the International Civil Aviation Organisation (ICAO) and the European Union, which has banned Nepali airline companies.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Nepali airline companies have not been able to operate flights to European countries due to the ban imposed by EU. The government believes that splitting CAAN will help address the concerns of EU.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">EU imposed the ban on Nepal in 2013 following the deaths of 19 passengers, including seven Britons, in a plane crash of Sita Air in September 2012.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The government decided to split CAAN into regulatory body and service provider about four months ago to make air service in Nepal safe and effective.</span></span></p> ', 'published' => true, 'created' => '2019-11-05', 'modified' => '2019-11-05', 'keywords' => '', 'description' => '', 'sortorder' => '11361', 'image' => '20191105085928__MG_9719.JPG', 'article_date' => '2019-11-05 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 5 => array( 'Article' => array( 'id' => '11611', 'article_category_id' => '1', 'title' => 'Mahara Sent to Dillibazar Jail', 'sub_title' => '', 'summary' => 'November 5: District Court, Kathmandu has sent former speaker of the House of Representatives Krishna Bahadur Mahara to Dillibazar Prison in an attempt to rape case filed by Roshani Shahi, a staffer at the Parliament Secretariat.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 5: District Court, Kathmandu has sent former speaker of the House of Representatives Krishna Bahadur Mahara to Dillibazar Prison in an attempt to rape case filed by Roshani Shahi, a staffer at the Parliament Secretariat.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Chief of the District Court, Judge Sudarshan Raj Pandey issued an order on Monday to keep Mahara in judicial custody until the final verdict.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The government lawyers and Mahara’s defense lawyers presented their views during the hearing on Monday after which the judge issued such order.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Senior advocates Raman Kumar Shrestha, Sher Bahadur KC, Kabita Bhandari Baral and Krishna Prasad Sapkota defended Mahara on the second day of the hearing while government lawyers demanded extending his custody.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Mahara, who was arrested on October 6, said before the judge that he had not visited the room of the alleged victim Roshani Shahi. He said that Shahi was a family friend and he had only talked with her over the phone.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2019-11-05', 'modified' => '2019-11-05', 'keywords' => '', 'description' => '', 'sortorder' => '11360', 'image' => '20191105101502_1572876819.jpg', 'article_date' => '2019-11-05 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 6 => array( 'Article' => array( 'id' => '11612', 'article_category_id' => '1', 'title' => 'Case Registered Against Alam', 'sub_title' => '', 'summary' => 'November 5: The District Attorney’s Office, Rautahat has registered case against Nepali Congress lawmaker Mohammad Aftab Alam on charges of murder, attempted murder and bomb blast.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 5: The District Attorney’s Office, Rautahat has registered case against Nepali Congress lawmaker Mohammad Aftab Alam on charges of murder, attempted murder and bomb blast.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">District Attorney Khandi Raj Katuwal confirmed that the office filed case against Alam on Monday, November 4.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Alam was arrested three weeks ago in connection to a crime committed on the eve of the Constituent Assembly election in 2008 when he burnt alive the survivors of an accidental bomb blast, which was being prepared at his behest.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">At least a dozen people were killed in the bomb blast, which was intended for the elections to ensure Alam’s victory. Katuwal, citing eyewitnesses, said that Alam burnt the survivors of the blast to hide the evidence. </span></span></p> ', 'published' => true, 'created' => '2019-11-05', 'modified' => '2019-11-05', 'keywords' => '', 'description' => '', 'sortorder' => '11359', 'image' => '20191105102832_download.jpg', 'article_date' => '2019-11-05 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 7 => array( 'Article' => array( 'id' => '11607', 'article_category_id' => '1', 'title' => 'Kalanki-Chabahil Section of Ring Road to be Upgraded into 8 Lanes', 'sub_title' => '', 'summary' => 'November 4: The Department of Roads has started preparations for upgrading the Kalanki-Chabahil section of Ring Road into eight lanes. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 4: The Department of Roads has started preparations for upgrading the Kalanki-Chabahil section of Ring Road into eight lanes. The road section is being upgraded under the second phase of Ring Road Development Project with the support from the Chinese government.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The government has already upgraded Koteshwar-Kalanki section of Ring Road with the support from the Chinese government in the first phase. China’s Shanghai Construction Group had bagged the contract to expand the road section. The same construction company will complete upgrading the remaining parts of the Ring Road.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Detailed Project Report of the project is almost complete and the Chinese company will hand over the DPR to the government after ‘site clearance’, informed Keshav Sharma, director general of the Department of Roads.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to Sharma, the department is preparing to cut trees, shift poles and dismantle bridges and houses that fall on the route. He said that the process of felling trees and shifting electricity poles has already begun.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">In course of site clearance, the department has already shifted 500 poles and cut down 300 trees, the department informed. Altogether 2100 trees need to be cut to widen the road.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">As per the plan, the road will be 62 metres wide.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Ring Road Development Project will give compensation to 50 houses and dismantle the structures, said project chief Amrit Mani Rimal.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The total cost of site clearance is estimated to be Rs 3 billion including Rs 1.5 billion for compensation.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The department informed New Business Age that a section of Nepalese Army barracks in Sitapaila and the overhead bridge at New Bus Park area.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The department is not clear on whether to expand the road from Chabahil to Gaushala as the road section has lots of houses. Expanding the road would also endanger some ancient structures that fall in the World Heritage Site.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2019-11-04', 'modified' => '2019-11-04', 'keywords' => '', 'description' => '', 'sortorder' => '11358', 'image' => '20191104012312_5c98463ca3104842e4a54d54.jpeg', 'article_date' => '2019-11-04 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 8 => array( 'Article' => array( 'id' => '11608', 'article_category_id' => '1', 'title' => 'Central Bank Suspends Deputy Governor Shrestha', 'sub_title' => '', 'summary' => 'November 4: Nepal Rastra Bank has suspended its Deputy Governor Shiva Raj Shrestha for his alleged involvement in irregularities. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">November 4: Nepal Rastra Bank has suspended its Deputy Governor Shiva Raj Shrestha for his alleged involvement in irregularities. The central bank on Monday formed a three-member probe committee for investigating into the matter.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Nepal Rastra Bank formed the committee headed by Shreeram Poudel following instruction from the government to probe into the matter. Other members of the committee are Dr Subodh Kumar Karna and Ramji Regmi.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The central bank has given one month’s time for the committee to complete the investigation.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:11.0pt"><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. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2019-11-04', 'modified' => '2019-11-04', 'keywords' => '', 'description' => '', 'sortorder' => '11357', 'image' => '20191104013031_1572845125.jpg', 'article_date' => '2019-11-04 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 9 => array( 'Article' => array( 'id' => '11606', 'article_category_id' => '1', 'title' => 'Social Security Fund to Provide Loan to Contributors', 'sub_title' => '', 'summary' => 'November 4: The government is preparing to launch the work procedure of the Social Security Fund after the scheme failed to attract commercial enterprises.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 4: The government is preparing to launch the work procedure of the Social Security Fund after the scheme failed to attract commercial enterprises. Even the employees have shown reluctance to get listed in the contribution-based scheme as the return is not as attractive as that of the Employee Provident Fund (EPF) and the Citizens Investment Trust (CIT). The workers are hesitant to contribute to the fund because they cannot get any benefit from the scheme or utilize any amount during emergency until they retire.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The government has realized the need for policy level reforms due to the discouraging participation of the private sector in the scheme. Only 8,000 enterprises have enlisted in the scheme as of mid-October.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">In this context, the Social Security Fund has prepared a work procedure to provide loans to the contributors under 12 different heads including home loan, educational loan among others.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Ministry of Labour, Employment and Social Security said that the work procedure has been sent to the Council of Ministers for approval.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Executive Director of the Social Security Fund Kapil Mani Gyawali told New Business Age that the new offers mentioned in the work procedure are more attractive than the facilities provided by the EPF and CIT.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">He said that the work procedure will be implemented as soon as it gets approved by the cabinet.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Gyawali further said that they decided to provide loan as per the international practice.</span></span></p> ', 'published' => true, 'created' => '2019-11-04', 'modified' => '2019-11-04', 'keywords' => '', 'description' => '', 'sortorder' => '11356', 'image' => '20191104101107_20190129043642_a.jpg', 'article_date' => '2019-11-04 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 10 => array( 'Article' => array( 'id' => '11605', 'article_category_id' => '1', 'title' => 'Government Removes Governors of All 7 Provinces', 'sub_title' => '', 'summary' => 'November 4: The government on Sunday sacked governors of all seven provinces. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 4: The government on Sunday sacked governors of all seven provinces. President Bidya Devi Bhandari relieved the governors of their duties upon the recommendation of the Council of Ministers.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The decision has removed Province 1 Governor Dr Govinda Bahadur Tumbahang, Province 2 Governor Ratneshwar Lal Kayastha, Province 3 Governor Anuradha Koirala, Gandaki Province Governor Baburam Kunwar, Province 5 Governor Umakanta Jha, Karmali Province Governor Durga Keshar Khanal and Sudur Paschim Province Governor Mohan Raj Malla from their posts.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The government was planning to name the new governors on the same day but later decided to appoint the governors on Monday as the ruling Nepal Communist Party could not reach a decision on this issue. The then government led by Sher Bahadur Deuba had appointed the governors on January 17, 2018.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The constitution has a provision of appointing chief of each of the seven provinces as the representatives of the government. The new government formed under the leadership of KP Sharma Oli had earlier tried to remove the governors but did not succeed. This time, the President’s Office informed in a statement that the governors were relieved of their duties as per Article 165 of the constitution. Unless the governors are removed from their posts, they can enjoy a term of five years as the head of the provinces.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Meanwhile, the main opposition Nepali Congress has raised objections to the removal of the governors. NC said that the government’s decision to sack the governors is biased.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2019-11-04', 'modified' => '2019-11-04', 'keywords' => '', 'description' => '', 'sortorder' => '11355', 'image' => '20191104092741_Clipboard01.jpg', 'article_date' => '2019-11-04 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 11 => array( 'Article' => array( 'id' => '11604', 'article_category_id' => '1', 'title' => 'Central Bank to Probe Allegations of Irregularities against its Deputy Governor', 'sub_title' => '', 'summary' => 'November 4: A board meeting of Nepal Rastra Bank on Sunday to discuss the allegations of irregularities against its Deputy Governor Shiva Raj Shrestha failed to take any official decision.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 4: A board meeting of Nepal Rastra Bank on Sunday to discuss the allegations of irregularities against its Deputy Governor Shiva Raj Shrestha failed to take any official decision.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The government had instructed the central bank to investigate Shrestha’s involvement in irregularities by abusing his power as the deputy governor of NRB.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">A source at the central bank informed New Business Age that the board meeting didn’t take the matter seriously. The source said that the meeting only held a general discussion regarding the issue. </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. The government had instructed the central bank to investigate into these allegations.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Although Sunday’s meeting decided to from a probe committee, one of the board members present in the meeting told New Business Age that the meeting held informal discussions regarding the matter.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to the board member, Sunday’s meeting has called for another meeting on Monday morning to take a formal decision in this issue.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The government can relieve Shrestha of his duties if the probe committee finds him guilty and the board recommends his removal from the post.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Shrestha, who was appointed deputy governor of Nepal Rastra Bank in 2072, oversees the Supervision Department of the central bank.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2019-11-04', 'modified' => '2019-11-05', 'keywords' => '', 'description' => '', 'sortorder' => '11354', 'image' => '20191104090010_20190719115911_NRB-_-image.jpg', 'article_date' => '2019-11-04 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 12 => array( 'Article' => array( 'id' => '11603', 'article_category_id' => '1', 'title' => 'Investors sign Record Rs 51 billion Agreement for Upper Trishuli Hydropower Project', 'sub_title' => '', 'summary' => 'November 3: Nine investors on Friday (November 1) signed a record agreement to invest a total of Rs 51.18 billion (US$ 453 million) for the Upper Trishuli-1 Hydropower Project. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 3: Nine investors on Friday (November 1) signed a record agreement to invest a total of Rs 51.18 billion (US$ 453 million) for the Upper Trishuli-1 Hydropower Project. The 216-megawatt project is the biggest project of Nepal in terms of investment.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">World Bank Group’s sister organization IFC, Asian Development Bank, Asian Infrastructure Development Bank, Korean Exim Bank, among others signed the agreement with the promoter of the project Nepal Water and Energy Development Company amid a function in the capital on Friday. Finance Minister Dr Yuba Raj Khatiwada and Energy Minister Barsha Man Pun were present during the signing ceremony.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The total cost of the project is estimated to be US$ 647 million. Seventy percent cost of the project will be raised through loan.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">As per the agreement, IFC will be providing a loan investment of US$ 160 million, ADB will be investing US$ 60 million, Asian Infrastructure Bank (US$ 39.6 million), Korean Exim Bank (US$ 100 million), Korean Development Bank (US$ 30.8 million). Likewise, CDC Group will invest US$ 21.9 million, while other investors include Netherlands Development Finance Company (US$ 15.4 million), French Development Financial Institute (US$ 11 million), Opec Fund for International Development (US$ 13.2 million). </span></span></p> <p> </p> ', 'published' => true, 'created' => '2019-11-03', 'modified' => '2019-11-03', 'keywords' => '', 'description' => '', 'sortorder' => '11353', 'image' => '20191103013830_1572746800.jpg', 'article_date' => '2019-11-03 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 13 => array( 'Article' => array( 'id' => '11602', 'article_category_id' => '266', 'title' => 'Himalayan Capital Limited Starts Operation', 'sub_title' => '', 'summary' => 'November 3: Himalayan Capital Limited, a wholly owned subsidiary of Himalayan Bank, has formally commenced its operations from November 1. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Preeti"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">November 3: Himalayan Capital Limited, a wholly owned subsidiary of Himalayan Bank, has formally commenced its operations from November 1. Manoj Bahadur Shrestha, chairman of the Board of Directors of Himalayan Bank Limited, inaugurated the organization amid a recent function and formally announced the commencement of business operations. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Preeti"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to a statement issued by the company, Himalayan Capital Limited has been established w</span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">ith a paid-up capital of Rs 200 million and </span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">strives to provide the best merchant banking and investment banking services to its customers. Himalayan Capital Limited obtained its operating license from Securities Board of Nepal on August 11, 2019.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Preeti"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Himalayan Capital Limited will provide a variety of Merchant Banking Services to its customers namely Issue Management, Share Registrar, Securities Underwriting, Portfolio Management, Corporate Advisory and DEMAT/ DP Services. Speaking at the ceremony, Chairman Shrestha applauded the major transformative changes observed in the scope and depth of the Nepali capital markets and ensured that the spirit of the movement would be carried forward by the capital focusing on providing the highest quality service to its valued customers. </span></span></span></span></p> ', 'published' => true, 'created' => '2019-11-03', 'modified' => '2019-11-03', 'keywords' => '', 'description' => '', 'sortorder' => '11352', 'image' => '20191103011525_HBL.JPG', 'article_date' => '2019-11-03 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 14 => array( 'Article' => array( 'id' => '11601', 'article_category_id' => '266', 'title' => 'Nepal Life Insurance Opens Branch in Dunai', 'sub_title' => '', 'summary' => 'November 3: Nepal Life Insurance Company has opened its branch at Dunai, Dolpa.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 3: Nepal Life Insurance Company has opened its branch at Dunai, Dolpa. Insurance Board’s Chairman Chiranjibi Chapagain inaugurated the branch amid a function on Friday, November 1.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Chapagain said that the branch will help the customers not only ensure their safety but also help cultivating saving habit. Likewise, the company’s CEO Vivek Jha claimed that the company holds one third of the total insurance market.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">At present, the company has a total paid-up capital of Rs 5.50 billion and investment of Rs 77.54 billion.</span></span></p> ', 'published' => true, 'created' => '2019-11-03', 'modified' => '2019-11-03', 'keywords' => '', 'description' => '', 'sortorder' => '11351', 'image' => '20191103010842_dolpa branch opening photo.jpg', 'article_date' => '2019-11-03 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '20' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '11615', 'article_category_id' => '1', 'title' => 'An extra 15-Minute Daily Walk Could Boost Global Economy: Study', 'sub_title' => '', 'summary' => 'November 6: The world economy could be boosted by as much as $100 billion a year if employers successfully encouraged their staff to meet the World Health Organization guidelines on exercise, according to an analysis of the economic impact of activity.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">November 6: The world economy could be boosted by as much as $100 billion a year if employers successfully encouraged their staff to meet the World Health Organization guidelines on exercise, according to an analysis of the economic impact of activity.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Reuters reported that adding an extra 15 minutes of daily walking, or jogging a steady one kilometer each day, would improve productivity and extend life expectancy - leading to more economic growth. According to Reuters, the study was conducted by the health insurance group Vitality and the think tank RAND Europe.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The economic boost would come from lower mortality rates - in other words keeping more people alive, working and contributing to the economy for longer, the study’s authors said, and from employees taking fewer days off sick.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Hans Pung, RAND Europe’s president, said the study highlighted “a significant relationship between inactivity and productivity loss” and should give policymakers and employers “new perspectives on how to enhance the productivity of their populations”.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The WHO recommends that all adults should take at least 150 minutes of moderate exercise, or 75 minutes of vigorous exercise, a week. In a study last year it found that around 40 percent of adults in the United States, 36 percent in Britain and 14 percent in China did too little exercise to stay healthy.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The recent study was based on data from about 120,000 people across seven countries. It then modeled and projected the potential economic benefits of increased physical activity globally and for 23 individual countries.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">According to Reuters, the study found that if all adults aged between 18 and 64 walked 15 more minutes a day, it could increase world economic output by some $100 billion year on year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">It also found that physically inactive 40-year-olds could increase their life expectancy, on average, by 3.2 years, by introducing 20 minutes of jogging a day.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2019-11-06', 'modified' => '2019-11-06', 'keywords' => '', 'description' => '', 'sortorder' => '11365', 'image' => '20191106082726_aaaa.jpg', 'article_date' => '2019-11-06 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 1 => array( 'Article' => array( 'id' => '11614', 'article_category_id' => '1', 'title' => 'President Appoints New Governors in All Seven Provinces', 'sub_title' => '', 'summary' => 'November 5: President Bidya Devi Bhandari has appointed new governors in all seven provinces as per the recommendation of the government.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">November 5: President Bidya Devi Bhandari has appointed new governors in all seven provinces as per the recommendation of the government.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">A cabinet meeting on Monday had recommended names for the governors of the seven provinces. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The government had recommended Somnath Adhikari for the post of governor of Province 1. Likewise, Tilak Pariyar was recommended as governor of Province 2, Bishnu Prasai for Province 3, Amik Sherchan for Gandaki Province, Dharmanath Yadav for Province 5, Govinda Kalauni for Karnali Province and Sharmila Tripathi for Sudur Paschim Province.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The names were suggested to the government by a secretariat meeting of the ruling Nepal Communist Party earlier on Monday.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The new governors were appointed following an understanding between NCP co-chairs KP Sharma Oli and Pushpa Kamal Dahal to allot four seats to former UML candidates and three to former Maoist Centre candidates.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Governors Adhikari, Yadav, Kalauni and Prasai were backed by PM Oli while Dahal supported Sherchan, Pariyar and Tripathi.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">President Bhandari administered oath of office and secrecy to the newly appointed governors on Tuesday morning.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The government had dismissed the former governors, who were appointed by the government led by Sher Bahadur Deuba about 21 months ago, on Sunday.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, senior leader of NCP Madhav Kumar Nepal has registered a note of dissent with the party regarding recommendations of names for the posts of governor. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2019-11-05', 'modified' => '2019-11-05', 'keywords' => '', 'description' => '', 'sortorder' => '11364', 'image' => '20191105111919_20191104092741_Clipboard01.jpg', 'article_date' => '2019-11-05 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 2 => array( 'Article' => array( 'id' => '11613', 'article_category_id' => '1', 'title' => 'Probe Committee to Investigate Alleged Irregularities against Dy Governor of NRB', 'sub_title' => '', 'summary' => 'November 5: A board meeting of Nepal Rastra Bank has formed a three-member probe committee to investigate into alleged irregularities against its deputy governor Shiva Raj Shrestha.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 5: A board meeting of Nepal Rastra Bank has formed a three-member probe committee to investigate into alleged irregularities against its deputy governor Shiva Raj Shrestha. With the formation of the committee on Monday (November 4), Shrestha has been automatically suspended from his post as per Article 22 of the Nepal Rastra Bank Act 2058.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The government had instructed the central bank to investigate Shrestha’s involvement in irregularities by abusing his power as the deputy governor of NRB.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The probe committee is headed by Shreeram Poudel. Other members of the committee are Dr Subodh Kumar Karna and Ramji Regmi.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The central bank has given one month’s time for the committee to complete the investigation.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Shrestha can be sacked from his post if the committee recommends his removal.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The first meeting of the committee on Monday itself decided to seek the details of charges against Shrestha from the Anti Money Laundering Department of NRB.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">A member of the probe committee said that they decided to seek the details from the department as the letter sent to the central bank by the Ministry of Finance is not clear about the accusations against Shrestha.</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.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The probe committee is also preparing to take statements from other accused.</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 is also accused of presenting forged bills during his foreign official visits.</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. Amid these allegations, the department had written a letter to the government to take action against Shrestha.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2019-11-05', 'modified' => '2019-11-05', 'keywords' => '', 'description' => '', 'sortorder' => '11363', 'image' => '20191105105909_20191104090010_20190719115911_NRB-_-image.jpg', 'article_date' => '2019-11-05 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 3 => array( 'Article' => array( 'id' => '11610', 'article_category_id' => '1', 'title' => 'UAE Agrees to Implement Labour Pact', 'sub_title' => 'Migrant workers will not have to pay any amount to manpower companies', 'summary' => 'November 5: The United Arab Emirates (UAE) has agreed to immediately implement the labour pact signed with Nepal about five months ago. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 5: The United Arab Emirates (UAE) has agreed to immediately implement the labour pact signed with Nepal about five months ago. A two-day meeting of the officials from Nepal and the UAE in Kathmandu decided to implement the agreement reached between the two countries.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The meeting has finalized the process of supplying workers and the cost of sending them to the UAE, informed Labour Secetary Ram Prasad Ghimire, who led the Nepali delegation.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Now, the migrant workers going to the UAE will not have to pay any amount to the manpower companies. The companies will get service charge directly from the employers.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to Ghimire, migrant workers do not have to pay any charge except orientation fee, welfare charge and life insurance.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Nepal and the UAE had signed a ministerial-level agreement on labour pact during International Labour Conference held in Geneva on June 14 earlier this year to mark the centenary of ILO.</span></span></p> ', 'published' => true, 'created' => '2019-11-05', 'modified' => '2019-11-05', 'keywords' => '', 'description' => '', 'sortorder' => '11362', 'image' => '20191105092259_1572912262.jpg', 'article_date' => '2019-11-05 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 4 => array( 'Article' => array( 'id' => '11609', 'article_category_id' => '1', 'title' => 'Government Prepares Draft Law to Split CAAN', 'sub_title' => '', 'summary' => 'November 5: The government has prepared a draft law to split the Civil Aviation Authority of Nepal (CAAN) into two separate entities – a regulatory body and a service provider.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 5: The government has prepared a draft law to split the Civil Aviation Authority of Nepal (CAAN) into two separate entities – a regulatory body and a service provider.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to the Ministry of Culture, Tourism and Civil Aviation, it has incorporated suggestions from the finance, home and foreign ministries in the draft. Now, the ministry is awaiting for suggestions from the law ministry before forwarding the draft to the Council of Ministers.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Secretary at the Ministry of Culture, Tourism and Civil Aviation Kedar Bahadur Adhikari said that the draft is almost ready and will be presented to the cabinet after Tourism Minister Yogesh Bhattarai returns from his foreign trip.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The draft has proposed splitting CAAN into Civil Aviation Authority as the regulatory body and Air Service Authority as the service provider.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The government decided to split the CAAN into two entities as per the demand of the International Civil Aviation Organisation (ICAO) and the European Union, which has banned Nepali airline companies.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Nepali airline companies have not been able to operate flights to European countries due to the ban imposed by EU. The government believes that splitting CAAN will help address the concerns of EU.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">EU imposed the ban on Nepal in 2013 following the deaths of 19 passengers, including seven Britons, in a plane crash of Sita Air in September 2012.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The government decided to split CAAN into regulatory body and service provider about four months ago to make air service in Nepal safe and effective.</span></span></p> ', 'published' => true, 'created' => '2019-11-05', 'modified' => '2019-11-05', 'keywords' => '', 'description' => '', 'sortorder' => '11361', 'image' => '20191105085928__MG_9719.JPG', 'article_date' => '2019-11-05 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 5 => array( 'Article' => array( 'id' => '11611', 'article_category_id' => '1', 'title' => 'Mahara Sent to Dillibazar Jail', 'sub_title' => '', 'summary' => 'November 5: District Court, Kathmandu has sent former speaker of the House of Representatives Krishna Bahadur Mahara to Dillibazar Prison in an attempt to rape case filed by Roshani Shahi, a staffer at the Parliament Secretariat.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 5: District Court, Kathmandu has sent former speaker of the House of Representatives Krishna Bahadur Mahara to Dillibazar Prison in an attempt to rape case filed by Roshani Shahi, a staffer at the Parliament Secretariat.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Chief of the District Court, Judge Sudarshan Raj Pandey issued an order on Monday to keep Mahara in judicial custody until the final verdict.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The government lawyers and Mahara’s defense lawyers presented their views during the hearing on Monday after which the judge issued such order.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Senior advocates Raman Kumar Shrestha, Sher Bahadur KC, Kabita Bhandari Baral and Krishna Prasad Sapkota defended Mahara on the second day of the hearing while government lawyers demanded extending his custody.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Mahara, who was arrested on October 6, said before the judge that he had not visited the room of the alleged victim Roshani Shahi. He said that Shahi was a family friend and he had only talked with her over the phone.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2019-11-05', 'modified' => '2019-11-05', 'keywords' => '', 'description' => '', 'sortorder' => '11360', 'image' => '20191105101502_1572876819.jpg', 'article_date' => '2019-11-05 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 6 => array( 'Article' => array( 'id' => '11612', 'article_category_id' => '1', 'title' => 'Case Registered Against Alam', 'sub_title' => '', 'summary' => 'November 5: The District Attorney’s Office, Rautahat has registered case against Nepali Congress lawmaker Mohammad Aftab Alam on charges of murder, attempted murder and bomb blast.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 5: The District Attorney’s Office, Rautahat has registered case against Nepali Congress lawmaker Mohammad Aftab Alam on charges of murder, attempted murder and bomb blast.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">District Attorney Khandi Raj Katuwal confirmed that the office filed case against Alam on Monday, November 4.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Alam was arrested three weeks ago in connection to a crime committed on the eve of the Constituent Assembly election in 2008 when he burnt alive the survivors of an accidental bomb blast, which was being prepared at his behest.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">At least a dozen people were killed in the bomb blast, which was intended for the elections to ensure Alam’s victory. Katuwal, citing eyewitnesses, said that Alam burnt the survivors of the blast to hide the evidence. </span></span></p> ', 'published' => true, 'created' => '2019-11-05', 'modified' => '2019-11-05', 'keywords' => '', 'description' => '', 'sortorder' => '11359', 'image' => '20191105102832_download.jpg', 'article_date' => '2019-11-05 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 7 => array( 'Article' => array( 'id' => '11607', 'article_category_id' => '1', 'title' => 'Kalanki-Chabahil Section of Ring Road to be Upgraded into 8 Lanes', 'sub_title' => '', 'summary' => 'November 4: The Department of Roads has started preparations for upgrading the Kalanki-Chabahil section of Ring Road into eight lanes. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 4: The Department of Roads has started preparations for upgrading the Kalanki-Chabahil section of Ring Road into eight lanes. The road section is being upgraded under the second phase of Ring Road Development Project with the support from the Chinese government.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The government has already upgraded Koteshwar-Kalanki section of Ring Road with the support from the Chinese government in the first phase. China’s Shanghai Construction Group had bagged the contract to expand the road section. The same construction company will complete upgrading the remaining parts of the Ring Road.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Detailed Project Report of the project is almost complete and the Chinese company will hand over the DPR to the government after ‘site clearance’, informed Keshav Sharma, director general of the Department of Roads.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to Sharma, the department is preparing to cut trees, shift poles and dismantle bridges and houses that fall on the route. He said that the process of felling trees and shifting electricity poles has already begun.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">In course of site clearance, the department has already shifted 500 poles and cut down 300 trees, the department informed. Altogether 2100 trees need to be cut to widen the road.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">As per the plan, the road will be 62 metres wide.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Ring Road Development Project will give compensation to 50 houses and dismantle the structures, said project chief Amrit Mani Rimal.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The total cost of site clearance is estimated to be Rs 3 billion including Rs 1.5 billion for compensation.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The department informed New Business Age that a section of Nepalese Army barracks in Sitapaila and the overhead bridge at New Bus Park area.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The department is not clear on whether to expand the road from Chabahil to Gaushala as the road section has lots of houses. Expanding the road would also endanger some ancient structures that fall in the World Heritage Site.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2019-11-04', 'modified' => '2019-11-04', 'keywords' => '', 'description' => '', 'sortorder' => '11358', 'image' => '20191104012312_5c98463ca3104842e4a54d54.jpeg', 'article_date' => '2019-11-04 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 8 => array( 'Article' => array( 'id' => '11608', 'article_category_id' => '1', 'title' => 'Central Bank Suspends Deputy Governor Shrestha', 'sub_title' => '', 'summary' => 'November 4: Nepal Rastra Bank has suspended its Deputy Governor Shiva Raj Shrestha for his alleged involvement in irregularities. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">November 4: Nepal Rastra Bank has suspended its Deputy Governor Shiva Raj Shrestha for his alleged involvement in irregularities. The central bank on Monday formed a three-member probe committee for investigating into the matter.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Nepal Rastra Bank formed the committee headed by Shreeram Poudel following instruction from the government to probe into the matter. Other members of the committee are Dr Subodh Kumar Karna and Ramji Regmi.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The central bank has given one month’s time for the committee to complete the investigation.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:11.0pt"><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. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2019-11-04', 'modified' => '2019-11-04', 'keywords' => '', 'description' => '', 'sortorder' => '11357', 'image' => '20191104013031_1572845125.jpg', 'article_date' => '2019-11-04 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 9 => array( 'Article' => array( 'id' => '11606', 'article_category_id' => '1', 'title' => 'Social Security Fund to Provide Loan to Contributors', 'sub_title' => '', 'summary' => 'November 4: The government is preparing to launch the work procedure of the Social Security Fund after the scheme failed to attract commercial enterprises.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 4: The government is preparing to launch the work procedure of the Social Security Fund after the scheme failed to attract commercial enterprises. Even the employees have shown reluctance to get listed in the contribution-based scheme as the return is not as attractive as that of the Employee Provident Fund (EPF) and the Citizens Investment Trust (CIT). The workers are hesitant to contribute to the fund because they cannot get any benefit from the scheme or utilize any amount during emergency until they retire.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The government has realized the need for policy level reforms due to the discouraging participation of the private sector in the scheme. Only 8,000 enterprises have enlisted in the scheme as of mid-October.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">In this context, the Social Security Fund has prepared a work procedure to provide loans to the contributors under 12 different heads including home loan, educational loan among others.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Ministry of Labour, Employment and Social Security said that the work procedure has been sent to the Council of Ministers for approval.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Executive Director of the Social Security Fund Kapil Mani Gyawali told New Business Age that the new offers mentioned in the work procedure are more attractive than the facilities provided by the EPF and CIT.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">He said that the work procedure will be implemented as soon as it gets approved by the cabinet.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Gyawali further said that they decided to provide loan as per the international practice.</span></span></p> ', 'published' => true, 'created' => '2019-11-04', 'modified' => '2019-11-04', 'keywords' => '', 'description' => '', 'sortorder' => '11356', 'image' => '20191104101107_20190129043642_a.jpg', 'article_date' => '2019-11-04 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 10 => array( 'Article' => array( 'id' => '11605', 'article_category_id' => '1', 'title' => 'Government Removes Governors of All 7 Provinces', 'sub_title' => '', 'summary' => 'November 4: The government on Sunday sacked governors of all seven provinces. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 4: The government on Sunday sacked governors of all seven provinces. President Bidya Devi Bhandari relieved the governors of their duties upon the recommendation of the Council of Ministers.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The decision has removed Province 1 Governor Dr Govinda Bahadur Tumbahang, Province 2 Governor Ratneshwar Lal Kayastha, Province 3 Governor Anuradha Koirala, Gandaki Province Governor Baburam Kunwar, Province 5 Governor Umakanta Jha, Karmali Province Governor Durga Keshar Khanal and Sudur Paschim Province Governor Mohan Raj Malla from their posts.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The government was planning to name the new governors on the same day but later decided to appoint the governors on Monday as the ruling Nepal Communist Party could not reach a decision on this issue. The then government led by Sher Bahadur Deuba had appointed the governors on January 17, 2018.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The constitution has a provision of appointing chief of each of the seven provinces as the representatives of the government. The new government formed under the leadership of KP Sharma Oli had earlier tried to remove the governors but did not succeed. This time, the President’s Office informed in a statement that the governors were relieved of their duties as per Article 165 of the constitution. Unless the governors are removed from their posts, they can enjoy a term of five years as the head of the provinces.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Meanwhile, the main opposition Nepali Congress has raised objections to the removal of the governors. NC said that the government’s decision to sack the governors is biased.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2019-11-04', 'modified' => '2019-11-04', 'keywords' => '', 'description' => '', 'sortorder' => '11355', 'image' => '20191104092741_Clipboard01.jpg', 'article_date' => '2019-11-04 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 11 => array( 'Article' => array( 'id' => '11604', 'article_category_id' => '1', 'title' => 'Central Bank to Probe Allegations of Irregularities against its Deputy Governor', 'sub_title' => '', 'summary' => 'November 4: A board meeting of Nepal Rastra Bank on Sunday to discuss the allegations of irregularities against its Deputy Governor Shiva Raj Shrestha failed to take any official decision.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 4: A board meeting of Nepal Rastra Bank on Sunday to discuss the allegations of irregularities against its Deputy Governor Shiva Raj Shrestha failed to take any official decision.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The government had instructed the central bank to investigate Shrestha’s involvement in irregularities by abusing his power as the deputy governor of NRB.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">A source at the central bank informed New Business Age that the board meeting didn’t take the matter seriously. The source said that the meeting only held a general discussion regarding the issue. </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. The government had instructed the central bank to investigate into these allegations.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Although Sunday’s meeting decided to from a probe committee, one of the board members present in the meeting told New Business Age that the meeting held informal discussions regarding the matter.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to the board member, Sunday’s meeting has called for another meeting on Monday morning to take a formal decision in this issue.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The government can relieve Shrestha of his duties if the probe committee finds him guilty and the board recommends his removal from the post.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Shrestha, who was appointed deputy governor of Nepal Rastra Bank in 2072, oversees the Supervision Department of the central bank.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2019-11-04', 'modified' => '2019-11-05', 'keywords' => '', 'description' => '', 'sortorder' => '11354', 'image' => '20191104090010_20190719115911_NRB-_-image.jpg', 'article_date' => '2019-11-04 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 12 => array( 'Article' => array( 'id' => '11603', 'article_category_id' => '1', 'title' => 'Investors sign Record Rs 51 billion Agreement for Upper Trishuli Hydropower Project', 'sub_title' => '', 'summary' => 'November 3: Nine investors on Friday (November 1) signed a record agreement to invest a total of Rs 51.18 billion (US$ 453 million) for the Upper Trishuli-1 Hydropower Project. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 3: Nine investors on Friday (November 1) signed a record agreement to invest a total of Rs 51.18 billion (US$ 453 million) for the Upper Trishuli-1 Hydropower Project. The 216-megawatt project is the biggest project of Nepal in terms of investment.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">World Bank Group’s sister organization IFC, Asian Development Bank, Asian Infrastructure Development Bank, Korean Exim Bank, among others signed the agreement with the promoter of the project Nepal Water and Energy Development Company amid a function in the capital on Friday. Finance Minister Dr Yuba Raj Khatiwada and Energy Minister Barsha Man Pun were present during the signing ceremony.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The total cost of the project is estimated to be US$ 647 million. Seventy percent cost of the project will be raised through loan.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">As per the agreement, IFC will be providing a loan investment of US$ 160 million, ADB will be investing US$ 60 million, Asian Infrastructure Bank (US$ 39.6 million), Korean Exim Bank (US$ 100 million), Korean Development Bank (US$ 30.8 million). Likewise, CDC Group will invest US$ 21.9 million, while other investors include Netherlands Development Finance Company (US$ 15.4 million), French Development Financial Institute (US$ 11 million), Opec Fund for International Development (US$ 13.2 million). </span></span></p> <p> </p> ', 'published' => true, 'created' => '2019-11-03', 'modified' => '2019-11-03', 'keywords' => '', 'description' => '', 'sortorder' => '11353', 'image' => '20191103013830_1572746800.jpg', 'article_date' => '2019-11-03 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 13 => array( 'Article' => array( 'id' => '11602', 'article_category_id' => '266', 'title' => 'Himalayan Capital Limited Starts Operation', 'sub_title' => '', 'summary' => 'November 3: Himalayan Capital Limited, a wholly owned subsidiary of Himalayan Bank, has formally commenced its operations from November 1. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Preeti"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">November 3: Himalayan Capital Limited, a wholly owned subsidiary of Himalayan Bank, has formally commenced its operations from November 1. Manoj Bahadur Shrestha, chairman of the Board of Directors of Himalayan Bank Limited, inaugurated the organization amid a recent function and formally announced the commencement of business operations. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Preeti"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to a statement issued by the company, Himalayan Capital Limited has been established w</span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">ith a paid-up capital of Rs 200 million and </span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">strives to provide the best merchant banking and investment banking services to its customers. Himalayan Capital Limited obtained its operating license from Securities Board of Nepal on August 11, 2019.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Preeti"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Himalayan Capital Limited will provide a variety of Merchant Banking Services to its customers namely Issue Management, Share Registrar, Securities Underwriting, Portfolio Management, Corporate Advisory and DEMAT/ DP Services. Speaking at the ceremony, Chairman Shrestha applauded the major transformative changes observed in the scope and depth of the Nepali capital markets and ensured that the spirit of the movement would be carried forward by the capital focusing on providing the highest quality service to its valued customers. </span></span></span></span></p> ', 'published' => true, 'created' => '2019-11-03', 'modified' => '2019-11-03', 'keywords' => '', 'description' => '', 'sortorder' => '11352', 'image' => '20191103011525_HBL.JPG', 'article_date' => '2019-11-03 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 14 => array( 'Article' => array( 'id' => '11601', 'article_category_id' => '266', 'title' => 'Nepal Life Insurance Opens Branch in Dunai', 'sub_title' => '', 'summary' => 'November 3: Nepal Life Insurance Company has opened its branch at Dunai, Dolpa.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 3: Nepal Life Insurance Company has opened its branch at Dunai, Dolpa. Insurance Board’s Chairman Chiranjibi Chapagain inaugurated the branch amid a function on Friday, November 1.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Chapagain said that the branch will help the customers not only ensure their safety but also help cultivating saving habit. Likewise, the company’s CEO Vivek Jha claimed that the company holds one third of the total insurance market.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">At present, the company has a total paid-up capital of Rs 5.50 billion and investment of Rs 77.54 billion.</span></span></p> ', 'published' => true, 'created' => '2019-11-03', 'modified' => '2019-11-03', 'keywords' => '', 'description' => '', 'sortorder' => '11351', 'image' => '20191103010842_dolpa branch opening photo.jpg', 'article_date' => '2019-11-03 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '20' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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According to Reuters, the study was conducted by the health insurance group Vitality and the think tank RAND Europe.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The economic boost would come from lower mortality rates - in other words keeping more people alive, working and contributing to the economy for longer, the study’s authors said, and from employees taking fewer days off sick.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Hans Pung, RAND Europe’s president, said the study highlighted “a significant relationship between inactivity and productivity loss” and should give policymakers and employers “new perspectives on how to enhance the productivity of their populations”.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The WHO recommends that all adults should take at least 150 minutes of moderate exercise, or 75 minutes of vigorous exercise, a week. In a study last year it found that around 40 percent of adults in the United States, 36 percent in Britain and 14 percent in China did too little exercise to stay healthy.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The recent study was based on data from about 120,000 people across seven countries. It then modeled and projected the potential economic benefits of increased physical activity globally and for 23 individual countries.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">According to Reuters, the study found that if all adults aged between 18 and 64 walked 15 more minutes a day, it could increase world economic output by some $100 billion year on year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">It also found that physically inactive 40-year-olds could increase their life expectancy, on average, by 3.2 years, by introducing 20 minutes of jogging a day.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2019-11-06', 'modified' => '2019-11-06', 'keywords' => '', 'description' => '', 'sortorder' => '11365', 'image' => '20191106082726_aaaa.jpg', 'article_date' => '2019-11-06 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 1 => array( 'Article' => array( 'id' => '11614', 'article_category_id' => '1', 'title' => 'President Appoints New Governors in All Seven Provinces', 'sub_title' => '', 'summary' => 'November 5: President Bidya Devi Bhandari has appointed new governors in all seven provinces as per the recommendation of the government.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">November 5: President Bidya Devi Bhandari has appointed new governors in all seven provinces as per the recommendation of the government.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">A cabinet meeting on Monday had recommended names for the governors of the seven provinces. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The government had recommended Somnath Adhikari for the post of governor of Province 1. Likewise, Tilak Pariyar was recommended as governor of Province 2, Bishnu Prasai for Province 3, Amik Sherchan for Gandaki Province, Dharmanath Yadav for Province 5, Govinda Kalauni for Karnali Province and Sharmila Tripathi for Sudur Paschim Province.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The names were suggested to the government by a secretariat meeting of the ruling Nepal Communist Party earlier on Monday.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The new governors were appointed following an understanding between NCP co-chairs KP Sharma Oli and Pushpa Kamal Dahal to allot four seats to former UML candidates and three to former Maoist Centre candidates.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Governors Adhikari, Yadav, Kalauni and Prasai were backed by PM Oli while Dahal supported Sherchan, Pariyar and Tripathi.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">President Bhandari administered oath of office and secrecy to the newly appointed governors on Tuesday morning.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The government had dismissed the former governors, who were appointed by the government led by Sher Bahadur Deuba about 21 months ago, on Sunday.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, senior leader of NCP Madhav Kumar Nepal has registered a note of dissent with the party regarding recommendations of names for the posts of governor. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2019-11-05', 'modified' => '2019-11-05', 'keywords' => '', 'description' => '', 'sortorder' => '11364', 'image' => '20191105111919_20191104092741_Clipboard01.jpg', 'article_date' => '2019-11-05 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 2 => array( 'Article' => array( 'id' => '11613', 'article_category_id' => '1', 'title' => 'Probe Committee to Investigate Alleged Irregularities against Dy Governor of NRB', 'sub_title' => '', 'summary' => 'November 5: A board meeting of Nepal Rastra Bank has formed a three-member probe committee to investigate into alleged irregularities against its deputy governor Shiva Raj Shrestha.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 5: A board meeting of Nepal Rastra Bank has formed a three-member probe committee to investigate into alleged irregularities against its deputy governor Shiva Raj Shrestha. With the formation of the committee on Monday (November 4), Shrestha has been automatically suspended from his post as per Article 22 of the Nepal Rastra Bank Act 2058.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The government had instructed the central bank to investigate Shrestha’s involvement in irregularities by abusing his power as the deputy governor of NRB.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The probe committee is headed by Shreeram Poudel. Other members of the committee are Dr Subodh Kumar Karna and Ramji Regmi.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The central bank has given one month’s time for the committee to complete the investigation.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Shrestha can be sacked from his post if the committee recommends his removal.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The first meeting of the committee on Monday itself decided to seek the details of charges against Shrestha from the Anti Money Laundering Department of NRB.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">A member of the probe committee said that they decided to seek the details from the department as the letter sent to the central bank by the Ministry of Finance is not clear about the accusations against Shrestha.</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.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The probe committee is also preparing to take statements from other accused.</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 is also accused of presenting forged bills during his foreign official visits.</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. Amid these allegations, the department had written a letter to the government to take action against Shrestha.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2019-11-05', 'modified' => '2019-11-05', 'keywords' => '', 'description' => '', 'sortorder' => '11363', 'image' => '20191105105909_20191104090010_20190719115911_NRB-_-image.jpg', 'article_date' => '2019-11-05 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 3 => array( 'Article' => array( 'id' => '11610', 'article_category_id' => '1', 'title' => 'UAE Agrees to Implement Labour Pact', 'sub_title' => 'Migrant workers will not have to pay any amount to manpower companies', 'summary' => 'November 5: The United Arab Emirates (UAE) has agreed to immediately implement the labour pact signed with Nepal about five months ago. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 5: The United Arab Emirates (UAE) has agreed to immediately implement the labour pact signed with Nepal about five months ago. A two-day meeting of the officials from Nepal and the UAE in Kathmandu decided to implement the agreement reached between the two countries.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The meeting has finalized the process of supplying workers and the cost of sending them to the UAE, informed Labour Secetary Ram Prasad Ghimire, who led the Nepali delegation.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Now, the migrant workers going to the UAE will not have to pay any amount to the manpower companies. The companies will get service charge directly from the employers.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to Ghimire, migrant workers do not have to pay any charge except orientation fee, welfare charge and life insurance.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Nepal and the UAE had signed a ministerial-level agreement on labour pact during International Labour Conference held in Geneva on June 14 earlier this year to mark the centenary of ILO.</span></span></p> ', 'published' => true, 'created' => '2019-11-05', 'modified' => '2019-11-05', 'keywords' => '', 'description' => '', 'sortorder' => '11362', 'image' => '20191105092259_1572912262.jpg', 'article_date' => '2019-11-05 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 4 => array( 'Article' => array( 'id' => '11609', 'article_category_id' => '1', 'title' => 'Government Prepares Draft Law to Split CAAN', 'sub_title' => '', 'summary' => 'November 5: The government has prepared a draft law to split the Civil Aviation Authority of Nepal (CAAN) into two separate entities – a regulatory body and a service provider.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 5: The government has prepared a draft law to split the Civil Aviation Authority of Nepal (CAAN) into two separate entities – a regulatory body and a service provider.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to the Ministry of Culture, Tourism and Civil Aviation, it has incorporated suggestions from the finance, home and foreign ministries in the draft. Now, the ministry is awaiting for suggestions from the law ministry before forwarding the draft to the Council of Ministers.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Secretary at the Ministry of Culture, Tourism and Civil Aviation Kedar Bahadur Adhikari said that the draft is almost ready and will be presented to the cabinet after Tourism Minister Yogesh Bhattarai returns from his foreign trip.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The draft has proposed splitting CAAN into Civil Aviation Authority as the regulatory body and Air Service Authority as the service provider.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The government decided to split the CAAN into two entities as per the demand of the International Civil Aviation Organisation (ICAO) and the European Union, which has banned Nepali airline companies.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Nepali airline companies have not been able to operate flights to European countries due to the ban imposed by EU. The government believes that splitting CAAN will help address the concerns of EU.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">EU imposed the ban on Nepal in 2013 following the deaths of 19 passengers, including seven Britons, in a plane crash of Sita Air in September 2012.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The government decided to split CAAN into regulatory body and service provider about four months ago to make air service in Nepal safe and effective.</span></span></p> ', 'published' => true, 'created' => '2019-11-05', 'modified' => '2019-11-05', 'keywords' => '', 'description' => '', 'sortorder' => '11361', 'image' => '20191105085928__MG_9719.JPG', 'article_date' => '2019-11-05 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 5 => array( 'Article' => array( 'id' => '11611', 'article_category_id' => '1', 'title' => 'Mahara Sent to Dillibazar Jail', 'sub_title' => '', 'summary' => 'November 5: District Court, Kathmandu has sent former speaker of the House of Representatives Krishna Bahadur Mahara to Dillibazar Prison in an attempt to rape case filed by Roshani Shahi, a staffer at the Parliament Secretariat.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 5: District Court, Kathmandu has sent former speaker of the House of Representatives Krishna Bahadur Mahara to Dillibazar Prison in an attempt to rape case filed by Roshani Shahi, a staffer at the Parliament Secretariat.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Chief of the District Court, Judge Sudarshan Raj Pandey issued an order on Monday to keep Mahara in judicial custody until the final verdict.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The government lawyers and Mahara’s defense lawyers presented their views during the hearing on Monday after which the judge issued such order.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Senior advocates Raman Kumar Shrestha, Sher Bahadur KC, Kabita Bhandari Baral and Krishna Prasad Sapkota defended Mahara on the second day of the hearing while government lawyers demanded extending his custody.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Mahara, who was arrested on October 6, said before the judge that he had not visited the room of the alleged victim Roshani Shahi. He said that Shahi was a family friend and he had only talked with her over the phone.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2019-11-05', 'modified' => '2019-11-05', 'keywords' => '', 'description' => '', 'sortorder' => '11360', 'image' => '20191105101502_1572876819.jpg', 'article_date' => '2019-11-05 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 6 => array( 'Article' => array( 'id' => '11612', 'article_category_id' => '1', 'title' => 'Case Registered Against Alam', 'sub_title' => '', 'summary' => 'November 5: The District Attorney’s Office, Rautahat has registered case against Nepali Congress lawmaker Mohammad Aftab Alam on charges of murder, attempted murder and bomb blast.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 5: The District Attorney’s Office, Rautahat has registered case against Nepali Congress lawmaker Mohammad Aftab Alam on charges of murder, attempted murder and bomb blast.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">District Attorney Khandi Raj Katuwal confirmed that the office filed case against Alam on Monday, November 4.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Alam was arrested three weeks ago in connection to a crime committed on the eve of the Constituent Assembly election in 2008 when he burnt alive the survivors of an accidental bomb blast, which was being prepared at his behest.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">At least a dozen people were killed in the bomb blast, which was intended for the elections to ensure Alam’s victory. Katuwal, citing eyewitnesses, said that Alam burnt the survivors of the blast to hide the evidence. </span></span></p> ', 'published' => true, 'created' => '2019-11-05', 'modified' => '2019-11-05', 'keywords' => '', 'description' => '', 'sortorder' => '11359', 'image' => '20191105102832_download.jpg', 'article_date' => '2019-11-05 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 7 => array( 'Article' => array( 'id' => '11607', 'article_category_id' => '1', 'title' => 'Kalanki-Chabahil Section of Ring Road to be Upgraded into 8 Lanes', 'sub_title' => '', 'summary' => 'November 4: The Department of Roads has started preparations for upgrading the Kalanki-Chabahil section of Ring Road into eight lanes. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 4: The Department of Roads has started preparations for upgrading the Kalanki-Chabahil section of Ring Road into eight lanes. The road section is being upgraded under the second phase of Ring Road Development Project with the support from the Chinese government.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The government has already upgraded Koteshwar-Kalanki section of Ring Road with the support from the Chinese government in the first phase. China’s Shanghai Construction Group had bagged the contract to expand the road section. The same construction company will complete upgrading the remaining parts of the Ring Road.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Detailed Project Report of the project is almost complete and the Chinese company will hand over the DPR to the government after ‘site clearance’, informed Keshav Sharma, director general of the Department of Roads.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to Sharma, the department is preparing to cut trees, shift poles and dismantle bridges and houses that fall on the route. He said that the process of felling trees and shifting electricity poles has already begun.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">In course of site clearance, the department has already shifted 500 poles and cut down 300 trees, the department informed. Altogether 2100 trees need to be cut to widen the road.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">As per the plan, the road will be 62 metres wide.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Ring Road Development Project will give compensation to 50 houses and dismantle the structures, said project chief Amrit Mani Rimal.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The total cost of site clearance is estimated to be Rs 3 billion including Rs 1.5 billion for compensation.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The department informed New Business Age that a section of Nepalese Army barracks in Sitapaila and the overhead bridge at New Bus Park area.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The department is not clear on whether to expand the road from Chabahil to Gaushala as the road section has lots of houses. Expanding the road would also endanger some ancient structures that fall in the World Heritage Site.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2019-11-04', 'modified' => '2019-11-04', 'keywords' => '', 'description' => '', 'sortorder' => '11358', 'image' => '20191104012312_5c98463ca3104842e4a54d54.jpeg', 'article_date' => '2019-11-04 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 8 => array( 'Article' => array( 'id' => '11608', 'article_category_id' => '1', 'title' => 'Central Bank Suspends Deputy Governor Shrestha', 'sub_title' => '', 'summary' => 'November 4: Nepal Rastra Bank has suspended its Deputy Governor Shiva Raj Shrestha for his alleged involvement in irregularities. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">November 4: Nepal Rastra Bank has suspended its Deputy Governor Shiva Raj Shrestha for his alleged involvement in irregularities. The central bank on Monday formed a three-member probe committee for investigating into the matter.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Nepal Rastra Bank formed the committee headed by Shreeram Poudel following instruction from the government to probe into the matter. Other members of the committee are Dr Subodh Kumar Karna and Ramji Regmi.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The central bank has given one month’s time for the committee to complete the investigation.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:11.0pt"><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. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2019-11-04', 'modified' => '2019-11-04', 'keywords' => '', 'description' => '', 'sortorder' => '11357', 'image' => '20191104013031_1572845125.jpg', 'article_date' => '2019-11-04 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 9 => array( 'Article' => array( 'id' => '11606', 'article_category_id' => '1', 'title' => 'Social Security Fund to Provide Loan to Contributors', 'sub_title' => '', 'summary' => 'November 4: The government is preparing to launch the work procedure of the Social Security Fund after the scheme failed to attract commercial enterprises.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 4: The government is preparing to launch the work procedure of the Social Security Fund after the scheme failed to attract commercial enterprises. Even the employees have shown reluctance to get listed in the contribution-based scheme as the return is not as attractive as that of the Employee Provident Fund (EPF) and the Citizens Investment Trust (CIT). The workers are hesitant to contribute to the fund because they cannot get any benefit from the scheme or utilize any amount during emergency until they retire.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The government has realized the need for policy level reforms due to the discouraging participation of the private sector in the scheme. Only 8,000 enterprises have enlisted in the scheme as of mid-October.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">In this context, the Social Security Fund has prepared a work procedure to provide loans to the contributors under 12 different heads including home loan, educational loan among others.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Ministry of Labour, Employment and Social Security said that the work procedure has been sent to the Council of Ministers for approval.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Executive Director of the Social Security Fund Kapil Mani Gyawali told New Business Age that the new offers mentioned in the work procedure are more attractive than the facilities provided by the EPF and CIT.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">He said that the work procedure will be implemented as soon as it gets approved by the cabinet.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Gyawali further said that they decided to provide loan as per the international practice.</span></span></p> ', 'published' => true, 'created' => '2019-11-04', 'modified' => '2019-11-04', 'keywords' => '', 'description' => '', 'sortorder' => '11356', 'image' => '20191104101107_20190129043642_a.jpg', 'article_date' => '2019-11-04 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 10 => array( 'Article' => array( 'id' => '11605', 'article_category_id' => '1', 'title' => 'Government Removes Governors of All 7 Provinces', 'sub_title' => '', 'summary' => 'November 4: The government on Sunday sacked governors of all seven provinces. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 4: The government on Sunday sacked governors of all seven provinces. President Bidya Devi Bhandari relieved the governors of their duties upon the recommendation of the Council of Ministers.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The decision has removed Province 1 Governor Dr Govinda Bahadur Tumbahang, Province 2 Governor Ratneshwar Lal Kayastha, Province 3 Governor Anuradha Koirala, Gandaki Province Governor Baburam Kunwar, Province 5 Governor Umakanta Jha, Karmali Province Governor Durga Keshar Khanal and Sudur Paschim Province Governor Mohan Raj Malla from their posts.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The government was planning to name the new governors on the same day but later decided to appoint the governors on Monday as the ruling Nepal Communist Party could not reach a decision on this issue. The then government led by Sher Bahadur Deuba had appointed the governors on January 17, 2018.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The constitution has a provision of appointing chief of each of the seven provinces as the representatives of the government. The new government formed under the leadership of KP Sharma Oli had earlier tried to remove the governors but did not succeed. This time, the President’s Office informed in a statement that the governors were relieved of their duties as per Article 165 of the constitution. Unless the governors are removed from their posts, they can enjoy a term of five years as the head of the provinces.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Meanwhile, the main opposition Nepali Congress has raised objections to the removal of the governors. NC said that the government’s decision to sack the governors is biased.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2019-11-04', 'modified' => '2019-11-04', 'keywords' => '', 'description' => '', 'sortorder' => '11355', 'image' => '20191104092741_Clipboard01.jpg', 'article_date' => '2019-11-04 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 11 => array( 'Article' => array( 'id' => '11604', 'article_category_id' => '1', 'title' => 'Central Bank to Probe Allegations of Irregularities against its Deputy Governor', 'sub_title' => '', 'summary' => 'November 4: A board meeting of Nepal Rastra Bank on Sunday to discuss the allegations of irregularities against its Deputy Governor Shiva Raj Shrestha failed to take any official decision.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 4: A board meeting of Nepal Rastra Bank on Sunday to discuss the allegations of irregularities against its Deputy Governor Shiva Raj Shrestha failed to take any official decision.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The government had instructed the central bank to investigate Shrestha’s involvement in irregularities by abusing his power as the deputy governor of NRB.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">A source at the central bank informed New Business Age that the board meeting didn’t take the matter seriously. The source said that the meeting only held a general discussion regarding the issue. </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. The government had instructed the central bank to investigate into these allegations.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Although Sunday’s meeting decided to from a probe committee, one of the board members present in the meeting told New Business Age that the meeting held informal discussions regarding the matter.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to the board member, Sunday’s meeting has called for another meeting on Monday morning to take a formal decision in this issue.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The government can relieve Shrestha of his duties if the probe committee finds him guilty and the board recommends his removal from the post.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Shrestha, who was appointed deputy governor of Nepal Rastra Bank in 2072, oversees the Supervision Department of the central bank.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2019-11-04', 'modified' => '2019-11-05', 'keywords' => '', 'description' => '', 'sortorder' => '11354', 'image' => '20191104090010_20190719115911_NRB-_-image.jpg', 'article_date' => '2019-11-04 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 12 => array( 'Article' => array( 'id' => '11603', 'article_category_id' => '1', 'title' => 'Investors sign Record Rs 51 billion Agreement for Upper Trishuli Hydropower Project', 'sub_title' => '', 'summary' => 'November 3: Nine investors on Friday (November 1) signed a record agreement to invest a total of Rs 51.18 billion (US$ 453 million) for the Upper Trishuli-1 Hydropower Project. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 3: Nine investors on Friday (November 1) signed a record agreement to invest a total of Rs 51.18 billion (US$ 453 million) for the Upper Trishuli-1 Hydropower Project. The 216-megawatt project is the biggest project of Nepal in terms of investment.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">World Bank Group’s sister organization IFC, Asian Development Bank, Asian Infrastructure Development Bank, Korean Exim Bank, among others signed the agreement with the promoter of the project Nepal Water and Energy Development Company amid a function in the capital on Friday. Finance Minister Dr Yuba Raj Khatiwada and Energy Minister Barsha Man Pun were present during the signing ceremony.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The total cost of the project is estimated to be US$ 647 million. Seventy percent cost of the project will be raised through loan.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">As per the agreement, IFC will be providing a loan investment of US$ 160 million, ADB will be investing US$ 60 million, Asian Infrastructure Bank (US$ 39.6 million), Korean Exim Bank (US$ 100 million), Korean Development Bank (US$ 30.8 million). Likewise, CDC Group will invest US$ 21.9 million, while other investors include Netherlands Development Finance Company (US$ 15.4 million), French Development Financial Institute (US$ 11 million), Opec Fund for International Development (US$ 13.2 million). </span></span></p> <p> </p> ', 'published' => true, 'created' => '2019-11-03', 'modified' => '2019-11-03', 'keywords' => '', 'description' => '', 'sortorder' => '11353', 'image' => '20191103013830_1572746800.jpg', 'article_date' => '2019-11-03 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 13 => array( 'Article' => array( 'id' => '11602', 'article_category_id' => '266', 'title' => 'Himalayan Capital Limited Starts Operation', 'sub_title' => '', 'summary' => 'November 3: Himalayan Capital Limited, a wholly owned subsidiary of Himalayan Bank, has formally commenced its operations from November 1. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Preeti"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">November 3: Himalayan Capital Limited, a wholly owned subsidiary of Himalayan Bank, has formally commenced its operations from November 1. Manoj Bahadur Shrestha, chairman of the Board of Directors of Himalayan Bank Limited, inaugurated the organization amid a recent function and formally announced the commencement of business operations. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Preeti"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to a statement issued by the company, Himalayan Capital Limited has been established w</span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">ith a paid-up capital of Rs 200 million and </span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">strives to provide the best merchant banking and investment banking services to its customers. Himalayan Capital Limited obtained its operating license from Securities Board of Nepal on August 11, 2019.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Preeti"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Himalayan Capital Limited will provide a variety of Merchant Banking Services to its customers namely Issue Management, Share Registrar, Securities Underwriting, Portfolio Management, Corporate Advisory and DEMAT/ DP Services. Speaking at the ceremony, Chairman Shrestha applauded the major transformative changes observed in the scope and depth of the Nepali capital markets and ensured that the spirit of the movement would be carried forward by the capital focusing on providing the highest quality service to its valued customers. </span></span></span></span></p> ', 'published' => true, 'created' => '2019-11-03', 'modified' => '2019-11-03', 'keywords' => '', 'description' => '', 'sortorder' => '11352', 'image' => '20191103011525_HBL.JPG', 'article_date' => '2019-11-03 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 14 => array( 'Article' => array( 'id' => '11601', 'article_category_id' => '266', 'title' => 'Nepal Life Insurance Opens Branch in Dunai', 'sub_title' => '', 'summary' => 'November 3: Nepal Life Insurance Company has opened its branch at Dunai, Dolpa.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 3: Nepal Life Insurance Company has opened its branch at Dunai, Dolpa. Insurance Board’s Chairman Chiranjibi Chapagain inaugurated the branch amid a function on Friday, November 1.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Chapagain said that the branch will help the customers not only ensure their safety but also help cultivating saving habit. Likewise, the company’s CEO Vivek Jha claimed that the company holds one third of the total insurance market.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">At present, the company has a total paid-up capital of Rs 5.50 billion and investment of Rs 77.54 billion.</span></span></p> ', 'published' => true, 'created' => '2019-11-03', 'modified' => '2019-11-03', 'keywords' => '', 'description' => '', 'sortorder' => '11351', 'image' => '20191103010842_dolpa branch opening photo.jpg', 'article_date' => '2019-11-03 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '20' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
