November 3: Any individual purchasing home or apartment for the first time will now be able to get loan up to 70 percent from banks and financial institutions (BFIs).…
November 3: Any individual purchasing home or apartment for the first time will now be able to get loan up to 70 percent from banks and financial institutions (BFIs).…
November 3: An eleven-member delegation of the World Bank Group Executive Directors (EDs) visited Nepal from October 29 to November 1, to gain a comprehensive view of Nepal’s current development status and…
November 3: The rise in export of palm oil and soybean oil has increased the overall export of Nepal by 15 percent.…
November 3: Himalaya Airlines, a Nepal-China joint venture airline operating internationally, is gearing up to meet the demand for travelers to and from China this winter, by introducing its latest flights from Kathmandu to…
November 1: Road condition and high entry fee to Upper Mustang have posed a challenge to the tourism industry of this region.…
November 1: Finance Minister Dr Yuba Raj Khatiwada has said that all the reforms initiated by the government to facilitate business in the country have not been incorporated in the Ease of Doing Business Report published recently by the World…
November 1: The World Bank has pledged a loan of Rs 20 billion to Nepal for road upgrading…
November 1: Prime Minister KP Sharma Oli has been discharged from hospital on Thursday.…
October 31: Nepal Airlines Corporation is preparing to operate flights to Narita of Japan after suffering a setback in its newly re-launched flights to Osaka.…
October 31: The Asian Development Bank (ADB) has approved a loan of $195 million to improve the highway section between Pokhara and Mugling, which links Pokhara to Kathmandu and to subregional corridors connecting Nepal with India and…
October 31: Hotel Association of Nepal (HAN) is preparing to launch concessional package for the Visit Nepal 2020 campaign, which is just two months…
October 31: The Department of Transport Management (DoTM) has failed to print smart license despite importing a mass printer more than two months ago.…
October 31: Three months after the government registered its own construction company to undertake construction works on its own , Province 3 is planning to set up a similar company in the near…
October 30: Nepal Rastra Bank is preparing to instruct banks and financial institutions to purchase cyber security insurance policy.…
October 25: Ncell, on the occasion of Tihar and Chhath, has launched 4G data bonus offer enabling customers to take benefit from four times more 4G data.…
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', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 3: Any individual purchasing home or apartment for the first time will now be able to get loan up to 70 percent from banks and financial institutions (BFIs). Prior to this, BFIs had been funding 50 percent of the total cost within the Kathmandu Valley and 60 percent outside the valley.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Nepal Rastra Bank introduced this new policy by amending the Unified Directives on Friday, November 1. As per the revised policy, borrowers can acquire up to Rs 15 million from banks.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The central bank has stated that in order to acquire such loan, the borrower must have to purchase a residential area of 3000 square feet and the housing must be purchased for personal use.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Before providing such loan, BFIs must ascertain that the borrower has not taken such type of loan before. The central bank has also instructed not to increase the installment amount in case the interest rate increases.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Although this new provision has provided some relief for those aspiring to purchase apartments at a time when the central bank has tightened its screws on lending in the housing sector, CEO of Sanima Bank Bhuvan Dahal says there are some ambiguities in this new policy.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“This provision is overall good. But the central bank does not have clear policy regarding the individuals who had taken such loans and cleared all the dues,” said Dahal.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Dahal further said that the BFIs do not have records of such individuals.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“This will complicate things for us,” he added.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Likewise, the central bank as also introduced a policy to stabilize the rate of interest. As per the new policy, a mutual understanding can be reached between the lender and the borrower for a fixed rate of interest if the loan is provided for a period of more than a year.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">BFIs cannot increase the rate of interest whatever might be the situation. However, such rate of interest will be more than the normal rate, according to BFIs.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2019-11-03', 'modified' => '2019-11-03', 'keywords' => '', 'description' => '', 'sortorder' => '11350', 'image' => '20191103105307_1572751033.jpg', 'article_date' => '2019-11-03 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 1 => array( 'Article' => array( 'id' => '11598', 'article_category_id' => '1', 'title' => 'World Bank Executive Directors Visit Nepal, Discuss Federalism, Diversified Investment', 'sub_title' => '', 'summary' => 'November 3: An eleven-member delegation of the World Bank Group Executive Directors (EDs) visited Nepal from October 29 to November 1, to gain a comprehensive view of Nepal’s current development status and opportunities.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">November 3: An eleven-member delegation of the World Bank Group Executive Directors (EDs) visited Nepal from October 29 to November 1, to gain a comprehensive view of Nepal’s current development status and opportunities. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">According to the World Bank, the visit marked the 50th year of World Bank Group-Nepal engagement, with the first World Bank credit in Nepal approved by the board on November 4, 1969.The trip was part of a larger visit to the South Asia Region that will also include Bangladesh and the Maldives, World Bank said in a statement.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">During their visit, the EDs met with representatives from federal and local governments, the private sector, development partners, and civil society. Discussions centered around Nepal’s transition to federalism, the need to invest in the country’s human capital, crowding in the private sector for diversified investment, the pace of reconstruction after the earthquakes in 2015, and the creation of jobs, especially for Nepal’s youth.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">“Nepal has made progress in reduction of poverty and its stable government signals a smoother transition to the federal structure,” the statement quoted Jorge Chavez Presa, spokesperson of the delegation as saying. “However, to ensure stronger and more sustained growth, it needs rapid strengthening of institutions and systems. The World Bank Group is committed to help the Government of Nepal achieve its ambitious goals for the benefit of all Nepalis.”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The EDs’ conversations with Finance Minister Dr Yuba Raj Khatiwada focused on leveraging World Bank Group-wide support for the federalism agenda, maximizing finance for development, and investing in health and education for the people of Nepal, the statement further said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">During the visit to an earthquake reconstruction site in Patlekhet of Kavrepalanchowk, the EDs learnt about the reconstruction program that supported rebuilding of more than 430,000 houses after the devastating earthquakes.The Government of Nepal’s larger rural housing reconstruction program aims to provide earthquake-resistant housing for around 700,000 beneficiaries. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">To further understand investment scenarios and discuss ways for diversifying investment, the EDs met entrepreneurs and private sector representatives. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The World Bank Group said it has a strong partnership with Nepal, with 50 years of engagement since 1969. The current investment portfolio cuts across all key sectors in 25 projects and has a net commitment of $2.47 billion (as of September 2019).</span></span></span></span></p> ', 'published' => true, 'created' => '2019-11-03', 'modified' => '2019-11-03', 'keywords' => '', 'description' => '', 'sortorder' => '11349', 'image' => '20191103095805_aaaa.jpg', 'article_date' => '2019-11-03 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 2 => array( 'Article' => array( 'id' => '11597', 'article_category_id' => '1', 'title' => 'Palm Oil Increases Overall Export of Nepal', 'sub_title' => '', 'summary' => 'November 3: The rise in export of palm oil and soybean oil has increased the overall export of Nepal by 15 percent. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 3: </span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The rise in export of palm oil and soybean oil has increased the overall export of Nepal by 15 percent. Palm and soybean oils are not produced in Nepal but have become a major export products in the recent days. The total export of Nepal in the first three months of the current fiscal year 2019/20 has reached 27.16 billion. This is not a result of increased production within the country but due to the export of palm and soybean oils, which are first imported in crude form, then processed and exported mainly to India.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Palm oil and soybean oil make up 27 percent of the total export during the review period. During this period, palm and soybean oils worth Rs 7.26 billion were exported from Nepal. If these two products are excluded, Nepal’s export in the first three months of current FY will be around Rs 20 billion, which is Rs 3 billion less compared to the same period of last fiscal year.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">This clearly shows that the government’s initiative to promote domestic products in the international market has been ineffective as the increase in export of Nepal is basically due to the export of palm and soybean oils that are first imported and then repackaged and exported to India.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to the Department of Customs, Nepal exported palm oil worth Rs 5.78 billion and soybean oil worth Rs 1.48 billion during the review period. In the meantime, Nepal imported palm oil worth Rs 5.54 billion and soybean oil worth Rs 4 billion, records maintained by the department have revealed.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The massive surge in import and export of palm oil in the recent time is attributed to the low import duty on the product in Nepal compared to India. The local businessmen are taking advantage of this gap in tariff imposed by the two countries. Nepal imposes 10 percent customs duty on import of palm oil while India imposes 40 percent customs duty for the same product.</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"">India, which is one of the largest importers of palm oil in the world, had increased customs duty on crude palm oil imported from Association of Southeast Asian Nations (ASEAN) by $5 and refined palm oil by $9.</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"">This has directly benefitted the local businessmen of Nepal where there is lower customs duty for import of palm oil. </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"">Nepali businessmen import crude palm oil from Indonesia, Malaysia, Brazil, Ukraine, Thailand and Argentina and export refined palm oil to India.</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"">“Nepali exporters have been benefitting from the low customs duty for agricultural product that the Indian government has given to Nepal,” said Anand Bagaria, a local businessman.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“Bangladesh and Sri Lanka are also doing the same,” he added.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2019-11-03', 'modified' => '2019-11-03', 'keywords' => '', 'description' => '', 'sortorder' => '11348', 'image' => '20191103092810_20190807121918_Clipboard01.jpg', 'article_date' => '2019-11-03 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 3 => array( 'Article' => array( 'id' => '11599', 'article_category_id' => '1', 'title' => 'Himalaya Airlines Connects Kathmandu and Beijing with Direct Flights', 'sub_title' => '', 'summary' => 'November 3: Himalaya Airlines, a Nepal-China joint venture airline operating internationally, is gearing up to meet the demand for travelers to and from China this winter, by introducing its latest flights from Kathmandu to Beijing.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Georgia","serif"">November 3: Himalaya Airlines, a Nepal-China joint venture airline operating internationally, is gearing up to meet the demand for travelers to and from China this winter, by introducing its latest flights from Kathmandu to Beijing.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Georgia","serif"">The airline which launched its maiden flight between Kathmandu and Beijing on October 27, establishing the historical direct connectivity between the capital cities of the two countries, has announced thrice weekly flight schedule.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Georgia","serif"">The new flight, according to the airliner company, is the latest move in Himalaya Airlines’ business strategy of network expansion to boost Nepal’s connectivity with China, which is an important trade partner for Nepal besides being the second largest market for tourists in Nepal. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Georgia","serif"">In recent years, the demand for seats has grown exponentially amongst both business and leisure passengers, not only increasing tourism traffic and revenue but also promoting vital trade agreements between the two countries, Himalaya Airlines said in a statement.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Georgia","serif"">“This growth in Airlines’ network follows the revised Air Services Agreement between the Government of Nepal and China in July 2019,which opened up five new points in China for the Nepali airline companies for 2019 and three more for the year 2020,” the statement said.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">Minister for </span></span><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">Culture, Tourism and Civil Aviation </span></span><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">YogeshBhattarai</span></span><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">, Chinese Ambassador to Nepal </span></span><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">Hou Yanqi</span></span><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">, along with high ranking officials from CAANand TIA were present at the pre-departure function of the inaugural flight at the Radisson Airport Restaurant.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">Minister Bhattarai congratulated Himalaya Airlines for this important connectivity with China which will contribute to the targeted tourist arrivals of 500,000 Chinese travellers for VNY 2020.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">Wishing for the successful operation of this direct connectivity, Chinese Ambassador Hou stated, “<em>Nepal is an important international tourist destination and among the South Asian countries it is also the first choice to travel for Chinese tourists.</em>”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">The inaugural flight departed from Tribhuvan International Airport (TIA) on October 27 at 08:30 hours and touched down at Beijing’s Daxing International Airport (PKX) at 16:10 hours. The return flight from Beijing took place on the same day at 17:40 hours and arrived in Kathmandu at 21:45 hours. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Georgia","serif"">The airline operates a fleet of three A320 Airbus with its scheduled service to Doha Abu Dhabi, Dammam and Dhaka. In addition, the airline has already announced its plan to increase its fleet with introduction of two A319 aircraft by the end of 2019/beginning of 2020. With this service, </span><span style="font-family:"Georgia","serif"">Himalaya Airlines has become the only Nepali airline to operate direct flights between the capitals of both the countries.<strong> </strong></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2019-11-03', 'modified' => '2019-11-03', 'keywords' => '', 'description' => '', 'sortorder' => '11347', 'image' => '20191103102012_Beijing (2).jpg', 'article_date' => '2019-11-03 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 4 => array( 'Article' => array( 'id' => '11596', 'article_category_id' => '1', 'title' => 'High Entry Fee Hindering Tourism in Upper Mustang', 'sub_title' => '', 'summary' => 'November 1: Road condition and high entry fee to Upper Mustang have posed a challenge to the tourism industry of this region. ', 'content' => '<p><span style="font-size:14px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">November 1: Road condition and high entry fee to Upper Mustang have posed a challenge to the tourism industry of this region. Although the country is gearing up for the Visit Nepal 2020 campaign, the number of visitors in Upper Mustang has not been able to increase, reported Rastriya Samachar Samitee (RSS).</span></span></span></p> <p><span style="font-size:14px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">According to the state-owned news agency, the locals have demanded operation of alternative trekking routes, publicity and reduction in entry fee to promote tourism in the highlands of Upper Mustang. </span></span></span></p> <p><span style="font-size:14px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">Foreign tourists have to form a group of at least two persons and pay US$ 500 to the Department of Immigration for a ten-day visit to Lo Manthang and Damodar Kunda in Upper Mustang. If the visitors say there for more than ten days, they need to furnish proper explanation and pay and additional US$ 50 per day, according to RSS.</span></span></span></p> <p><span style="font-size:14px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">Although tourism entrepreneurs have spent millions of rupees to set up well-facilitated hotels in this remote region, the high charge and lengthy process have endangered the tourism business in this area renowned for its natural landscape and beauty, says Ram Bahadur Gurung, a local hotel entrepreneur.</span></span></span></p> <p><span style="font-size:14px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">Altogether 50 resorts, hotels and lodges which can accommodate up to 500 tourists are in operation in Upper Mustang. The cost of establishing the hotels in this remote area is estimated to be between Rs 3 million to Rs 200 million. New hotels are being constructed. The number of domestic tourists rises during holidays and festivals but this trend is not regular.</span></span></span></p> <p><span style="font-size:14px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">The number of foreign tourists visiting Upper Mustang in 2016, 2017 and 2018 was respectively 3,918; 4,015 and 3,946, according to Annapurna Conservation Area Project (ACAP). The number of visitors this year is similar to last year, RSS reported.</span></span></span></p> <p><span style="font-size:14px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">Upper Mustang was opened for tourists for the first time in 1992, during which 483 visitors trekked to the region. The number of foreign tourists was around 800 annually until 2007 when the entry charge was US$ 70. According to RSS, the number of foreign visitors increased after the entry fee was reduced.</span></span></span></p> <p><span style="font-size:14px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">The major attractions of this place include artistic hills, desert landscape, houses made of mud, Himalayan lifestyle, old Tibetan culture, palaces of historic importance, caves, monasteries and Korala border.</span></span></span></p> <p><span style="font-size:14px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif""><img alt="" src="/app/webroot/userfiles/images/20181023011412_kagbeni%20fapar.jpg" style="height:500px; width:667px" /></span></span></span></p> <p> </p> <p><span style="font-size:14px"><span style="font-family:"Times New Roman",serif"> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2019-11-01', 'modified' => '2019-11-01', 'keywords' => '', 'description' => '', 'sortorder' => '11346', 'image' => '20191101104401_20181214124012_Upper Mustang.jpg', 'article_date' => '2019-11-01 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 5 => array( 'Article' => array( 'id' => '11593', 'article_category_id' => '1', 'title' => 'Doing Business Report did not Incorporate all Reforms Initiated by Nepal: Finance Minister', 'sub_title' => '', 'summary' => 'November 1: Finance Minister Dr Yuba Raj Khatiwada has said that all the reforms initiated by the government to facilitate business in the country have not been incorporated in the Ease of Doing Business Report published recently by the World Bank.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">November 1: Finance Minister Dr Yuba Raj Khatiwada has said that all the reforms initiated by the government to facilitate business in the country have not been incorporated in the Ease of Doing Business Report published recently by the World Bank.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">The finance minister made such remarks on Thursday during a meeting with a delegation of high-ranking officials of the World Bank, who are in a visit to Nepal.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">Nepal has climbed 16 spots in the Doing Business Index of the World Bank. Nepal, which was in the 110<sup>th</sup> position last year, jumped to the 94<sup>th</sup> position this year. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">Government officials say that Nepal leapfrogged in the Doing Business Index due to the policy-level reforms in creating a conducive environment for business. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">In his meeting with the World Bank officials, Minister Khatiwada expressed his belief that the reforms made by Nepal would be included in the next report of the World Bank and Nepal would rise further in the index. Minister Khatiwada claimed that Nepal would climb to the 80<sup>th</sup> position of Doing Business Index next year.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">The recent World Bank report states that Nepal made improvements in five out of 10 areas measured in the report.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">The report further says Nepal made the progress despite increasing the cost to do business by hiking up the registration fee to transfer properties. Nepal made starting a business more difficult by requiring in-person follow-up for employee registration for social security.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt"><img alt="" src="/app/webroot/userfiles/images/20191024114321_Doing%20Business.jpg" style="height:600px; width:800px" /></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"> </span></span></p> ', 'published' => true, 'created' => '2019-11-01', 'modified' => '2019-11-01', 'keywords' => '', 'description' => '', 'sortorder' => '11345', 'image' => '20191101092421_aaaa.jpg', 'article_date' => '2019-11-01 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 6 => array( 'Article' => array( 'id' => '11595', 'article_category_id' => '1', 'title' => 'World Bank Pledges Rs 20 Billion for Upgrading Roads: Finance Ministry', 'sub_title' => '', 'summary' => 'November 1: The World Bank has pledged a loan of Rs 20 billion to Nepal for road upgrading projects.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 1: The World Bank has pledged a loan of Rs 20 billion to Nepal for road upgrading projects.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The loan assistance for Nagdhunga-Mugling road upgrading project and Dhalkebar-Pathlaiya road section of the East-West Highway is in the final phase of agreement, according to government officials.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Ministry of Finance has confirmed that the World Bank will be providing Rs 20 billion loan for these two projects.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The government had some years ago decided to upgrade the East-West Highway into four lanes. The Asian Development Bank has already initiated the process to support upgrading Narayanghad-Butwal section of the East-West Highway while the World Bank has pledged to support the Dhalkebar-Pathlaiya section.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">A highly-placed source at the Ministry of Finance told New Business Age that the government is preparing to sign an agreement with the World Bank within a month to seek support to upgrade the Nagdhunga-Mugling road section. The upgrading works will begin from January, according to the source.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Department of Roads is preparing to issue a tender after the agreement within a month, the source added. The government intends to complete upgrading the 93-kilometre road within three years.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The department said that they will adopt a new approach to lessen traffic congestion in this road section. Vehicles have been stuck in traffic jam in Nagdhunga area due to the use of heavy cargo vehicles along this route. The road section is narrow and inclined, leading to traffic congestion in case any vehicle breaks down.</span></span></p> ', 'published' => true, 'created' => '2019-11-01', 'modified' => '2019-11-01', 'keywords' => '', 'description' => '', 'sortorder' => '11344', 'image' => '20191101095935_aaa.jpg', 'article_date' => '2019-11-01 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 7 => array( 'Article' => array( 'id' => '11594', 'article_category_id' => '1', 'title' => 'PM Oli Discharged from Hospital', 'sub_title' => '', 'summary' => 'November 1: Prime Minister KP Sharma Oli has been discharged from hospital on Thursday. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 1: Prime Minister KP Sharma Oli has been discharged from hospital on Thursday. He was admitted to Grande International Hospital on Wednesday after complaining of health problems.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">While leaving the hospital on Thursday evening, PM Oli said that he was “fine”.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The prime minister received hemodialysis twice during his stay at the hospital.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Although the prime minister’s secretariat said it was a regular check-up, it has been widely reported that PM Oli had to undergo an emergency dialysis on Wednesday.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Grande’s Director Dr Chakra Raj Pandey said that the level of creatinine in Oli’s blood was high while he was admitted to the hospital but the level is normal after treatment.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“The prime minister’s health condition was good and now it has become better after treatment,” said Pandey.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">He declined to divulge further details saying that although Oli holds a public post an individual patient has the right to privacy.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">PM Oli has been undergoing regular check-up after his kidney transplant 12 years ago. Doctors have advised him to take plenty of rest.</span></span></p> ', 'published' => true, 'created' => '2019-11-01', 'modified' => '2019-11-01', 'keywords' => '', 'description' => '', 'sortorder' => '11343', 'image' => '20191101093923_20190214013326_maxresdefault.jpg', 'article_date' => '2019-11-01 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 8 => array( 'Article' => array( 'id' => '11592', 'article_category_id' => '1', 'title' => 'NAC Preparing to Operate Flights to Japan’s Narita from upcoming January', 'sub_title' => '', 'summary' => 'October 31: Nepal Airlines Corporation is preparing to operate flights to Narita of Japan after suffering a setback in its newly re-launched flights to Osaka. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:10.0pt"><span style="font-family:"Arial","sans-serif"">October 31: Nepal Airlines Corporation is preparing to operate flights to Narita of Japan after suffering a setback in its newly re-launched flights to Osaka. The state-owned airlines company of Nepal is preparing to operate flights to Narita from January 2020.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:10.0pt"><span style="font-family:"Arial","sans-serif"">NAC, which has been operating flights to Osaka since August 29, has not found enough passengers along the route. Initially, NAC had scheduled to operate three flights a week to Osaka on Tuesdays, Thursdays and Saturdays. But due to the lack of passengers, NAC reduced the number of flights to two per week – on Tuesdays and Saturdays. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:10.0pt"><span style="font-family:"Arial","sans-serif"">Although the number of passengers to Osaka is steadily increasing, NAC Executive Director Madan Kharel believes that operating flights to Narita would be beneficial in the long run.</span></span></span></span></p> <p> </p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:10.0pt"><span style="font-family:"Arial","sans-serif"">From commercial point of view, Narita has better prospects for Nepal than Osaka. But Kharel said they had to opt for Osaka in the first place due to some technical issues. He said that the flag carrier of Nepal has completed all the procedures and has sought permission to operate flights to Narita. NAC will be operating flights to Narita by the time the Visit Nepal 2020 campaign kicks off, provided that Japanese authorities grant them permission to operate flights to Narita.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:10.0pt"><span style="font-family:"Arial","sans-serif"">“We wanted to operate flights to Narita before Osaka but there were some technical issues. Now that we have already provided the required documents to Japan’s civil aviation authority, we will begin flights as soon as we get the permission,” said Kharel.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:10.0pt"><span style="font-family:"Arial","sans-serif"">NAC is mulling to stop flights to Osaka once they get permission to fly to Narita.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:10.0pt"><span style="font-family:"Arial","sans-serif"">NAC had been operating flights to Osaka from 1994 till 2007, after which it stopped the flights citing lack of aircraft. NAC re-launched flights to Osaka this year after purchasing two wide-body aircraft of Airbus.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:10.0pt"><span style="font-family:"Arial","sans-serif"">Back in the 90s and 2000s, NAC used to operate flights to Osaka via Shanghai. But at present, it has been running direct flights to Osaka.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2019-10-31', 'modified' => '2019-10-31', 'keywords' => '', 'description' => '', 'sortorder' => '11342', 'image' => '20191031120033_1572142676.jpg', 'article_date' => '2019-10-31 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 9 => array( 'Article' => array( 'id' => '11591', 'article_category_id' => '1', 'title' => 'Pokhara-Mugling Highway to be Upgraded to Four Lanes with Support from ADB', 'sub_title' => 'Upgrading Highway will Reduce Travel Time to Kathmandu and Subregional Trade Corridors', 'summary' => 'October 31: The Asian Development Bank (ADB) has approved a loan of $195 million to improve the highway section between Pokhara and Mugling, which links Pokhara to Kathmandu and to subregional corridors connecting Nepal with India and Bangladesh.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:8.0pt"><span style="font-family:"Segoe UI","sans-serif"">October 31: The Asian Development Bank (ADB) has approved a loan of $195 million to improve the highway section between Pokhara and Mugling, which links Pokhara to Kathmandu and to subregional corridors connecting Nepal with India and Bangladesh.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:8.0pt"><span style="font-family:"Segoe UI","sans-serif"">The highway will be widened to four lanes, and this will reduce travel times, lower transportation cost, and improve access to domestic markets, jobs, and social services, the ADB wrote on its website on Wednesday. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:8.0pt"><span style="font-family:"Segoe UI","sans-serif"">“The project will boost the traffic capacity, reliability, and safety of the main road link from Pokhara,” ADB quoted its Transport Specialist Johan Georget as saying. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:8.0pt"><span style="font-family:"Segoe UI","sans-serif"">According to Georget, the upgraded highway will also open a wider gateway for Nepal to international markets, especially in India, and facilitate the arrivals of tourists to the region of Pokhara and its hinterland.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:8.0pt"><span style="font-family:"Segoe UI","sans-serif"">ADB further said that Nepal’s economic growth improved to 7.3 percent a year on average between fiscal years (FY) 2017 and 2019, compared with about 3.3 percent in the previous three years. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:8.0pt"><span style="font-family:"Segoe UI","sans-serif"">As a landlocked country, Nepal relies heavily on direct neighbors for international trade, mainly India, which traded 65 percent of Nepal’s imports and exports in FY2019, ADB said in a statement. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:8.0pt"><span style="font-family:"Segoe UI","sans-serif"">“While roads are the predominant mode of transport in Nepal for more than 90 percent of goods and passengers, the density and capacity of the road network remains low.”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:8.0pt"><span style="font-family:"Segoe UI","sans-serif"">This infrastructure deficiency, according to the ADB, hampers the economy, resulting in high operating costs and travel times, and impeding the development of competitive supply chains, tourism, and regional integration and trade.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:8.0pt"><span style="font-family:"Segoe UI","sans-serif"">The 200-kilometer (km) journey from Pokhara, a prime tourist destination at the foot of the Himalayas, to the Nepalese capital Kathmandu takes more than 5 hours by road. It is currently a two-lane highway that handles about 7,400 vehicles a day. As the number of vehicle registrations has been rising and total vehicles are expected to quadruple by 2029, upgrading national highways is a priority to support economic development, the statement added.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:8.0pt"><span style="font-family:"Segoe UI","sans-serif"">Under this project, 81 km of the road will be widened to four lanes from Pokhara to Abukhaireni to meet the increasing demand. Improvements will be made to the surfacing, structure, and drainage, with safety features such as crash barriers, and traffic and other warning light systems installed. A second 8-km section between Mugling and Abukhaireni will be considered for a subsequent project.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:8.0pt"><span style="font-family:"Segoe UI","sans-serif"">According to the ADB, the road will be divided by a median, while service lanes in urban areas will improve safety, especially for pedestrians, bicycles, and motorcycle users. This is especially important since the country suffers a high rate of almost 16 deaths per 100,000 people due to traffic accidents. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:8.0pt"><span style="font-family:"Segoe UI","sans-serif"">The total cost of the project is $254 million, of which the government will provide $59 million. The project is due for completion at the end of 2025.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:8.0pt"><span style="font-family:"Segoe UI","sans-serif"">Accompanying the loan is an ADB technical assistance grant of $500,000 to strengthen disaster risk reduction, landslide management, road safety, and procurement in the Ministry of Physical Infrastructure and Transport and Department of Roads.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:8.0pt"><span style="font-family:"Segoe UI","sans-serif""><img alt="" src="/app/webroot/userfiles/images/aaaa.jpg" style="height:600px; width:800px" /></span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2019-10-31', 'modified' => '2019-10-31', 'keywords' => '', 'description' => '', 'sortorder' => '11341', 'image' => '20191031112222_aaaaa8317 - Copy.jpg', 'article_date' => '2019-10-31 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 10 => array( 'Article' => array( 'id' => '11588', 'article_category_id' => '1', 'title' => 'Hotel Association of Nepal to Launch Concessional Packages for VNY 2020', 'sub_title' => '', 'summary' => 'October 31: Hotel Association of Nepal (HAN) is preparing to launch concessional package for the Visit Nepal 2020 campaign, which is just two months away.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 31: Hotel Association of Nepal (HAN) is preparing to launch concessional package for the Visit Nepal 2020 campaign, which is just two months away.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">HAN has instructed its members to announce packages offering discount to tourists during the Visit Nepal Year 2020. Around 2000 hotels, including 5-star hotels, are associated with HAN as its members.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">As per the announcement of HAN, its member hotels will provide the concessional package only to foreign tourists.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to HAN, its members will provide 30 percent discount on room charge and 15 percent on food and beverage.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">HAN’s President Srijana Rana said that the association is preparing to announce the package especially for the Visit Nepal 2020 campaign. Rana, who is also the executive director of 5-star Annapurna Hotel, said that the hospitality sector has an important role to make the Visit Nepal 2020 campaign a success.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“It is essential to bring concessional packages to attract tourists,” said Rana, adding that the hotel entrepreneurs are well aware of this fact.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">She further said that the private sector is ready to support the government to make the campaign a success. Rana suggested that the hotels should provide additional training to their staffers as the Visit Nepal Year 2020 draws closer.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“The standard of service that the Nepalese hotel industry provides is excellent. But this sector still requires more effort to improve the standard of service,” said Rana.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">She also said that the government should focus on connectivity and also ensure that there isn’t any further delay in upgrading road infrastructure as well as new airports.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Meanwhile, former president of HAN Amar Man Shakya said that the hotel industry is ready to serve the tourists but other infrastructures like roads are not satisfactory. He also said that the promotion for the campaign has not been much effective.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“Currently, the hotels in Nepal can accommodate not just 2 million tourists but 2.5 million visitors,” claimed Shakya, adding, “But the road network and other infrastructures in the country are in pathetic state.”</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">He said that the month of October is considered the ideal season for tourist arrival but there has been a slump in the number of tourists in Nepal during the peak season.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"> </span></span></p> ', 'published' => true, 'created' => '2019-10-31', 'modified' => '2019-10-31', 'keywords' => '', 'description' => '', 'sortorder' => '11340', 'image' => '20191031092022_20190628024129_Visit-nepal-2020.jpg', 'article_date' => '2019-10-31 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 11 => array( 'Article' => array( 'id' => '11590', 'article_category_id' => '1', 'title' => 'DoTM yet to Print Smart License Despite Procuring Mass Printer', 'sub_title' => '', 'summary' => 'October 31: The Department of Transport Management (DoTM) has failed to print smart license despite importing a mass printer more than two months ago. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 31: The Department of Transport Management (DoTM) has failed to print smart license despite importing a mass printer more than two months ago. The department had promised to solve the problem of issuing smart license by the time of Dashain, after purchasing the machine with the financial assistance of Asian Development Bank (ADB). However, it has failed to print the license with the help of the new machine.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The department had decided to procure the mass printer after it couldn’t deliver smart licenses on time with the help of nine small printers purchased from Madras Security Print.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The department claimed that the new mass printer can run for 24 hours a day and can print 500 smart licenses per hour.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">IT chief of DoTM Shree Chandra Shah attributed the delay to the need of testing the capacity of the new printer.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“We will first test the machine immediately after Tihar and then only bring it into operation,” said Shah.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The department also admitted that the lack of skilled manpower to operate the machine has also caused the inordinate delay in printing smart licenses.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"> </span></span></p> ', 'published' => true, 'created' => '2019-10-31', 'modified' => '2019-10-31', 'keywords' => '', 'description' => '', 'sortorder' => '11339', 'image' => '20191031104655_1572426091.jpg', 'article_date' => '2019-10-31 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 12 => array( 'Article' => array( 'id' => '11589', 'article_category_id' => '1', 'title' => 'Province 3 to Set Up its own Construction Company', 'sub_title' => '', 'summary' => 'October 31: Three months after the government registered its own construction company to undertake construction works on its own , Province 3 is planning to set up a similar company in the near future.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.5pt"><span style="font-family:"arial sans-serif","serif"">October 31: Three months after the government registered its own construction company to undertake construction works on its own , Province 3 is planning to set up a similar company in the near future. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.5pt"><span style="font-family:"arial sans-serif","serif"">The provincial government decided to establish its own construction company to address the problems like delay in infrastructure development and sub-standard works. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.5pt"><span style="font-family:"arial sans-serif","serif"">Chief Minister of Province 3 Dormani Poudel said that the council of ministers has already given the nod to the provincial government to move ahead with the process of establishing its own company.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.5pt"><span style="font-family:"arial sans-serif","serif"">According to the chief minister, the first meeting of the Provincial Development Council will begin the process of setting up the company.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.5pt"><span style="font-family:"arial sans-serif","serif"">Poudel argued that there will not be any hindrance in opening such company as the federal government has already set a precedent by formulating necessary laws in this regard.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.5pt"><span style="font-family:"arial sans-serif","serif"">Chief Minister Poudel clarified that the proposed company will not be competing with private companies but will support the provincial government to expedite the projects.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.5pt"><span style="font-family:"arial sans-serif","serif"">Earlier in July, the central government had registered its own construction company with an issued capital of Rs 3 billion.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2019-10-31', 'modified' => '2019-10-31', 'keywords' => '', 'description' => '', 'sortorder' => '11338', 'image' => '20191031102427_New province 3.jpg', 'article_date' => '2019-10-31 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 13 => array( 'Article' => array( 'id' => '11587', 'article_category_id' => '1', 'title' => 'Central Bank to Direct BFIs to Purchase Cyber Security Insurance Policy', 'sub_title' => '', 'summary' => 'October 30: Nepal Rastra Bank is preparing to instruct banks and financial institutions to purchase cyber security insurance policy. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">October 30: Nepal Rastra Bank is preparing to instruct banks and financial institutions to purchase cyber security insurance policy. Nepal has insurance policy on cyber security but none of the banks have purchased such policy. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Nepal Insurance Company has introduced Cyber Risk Protector policy from the last fiscal year. However, banks have not paid any attention to the policy despite considerable risk. It has been learnt that BFIs have not shown interest to purchase cyber security insurance policy as such policies are expensive as compared to other insurance policies.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Sources at Nepal Rastra Bank said that the central bank is currently studying this issue. After formulating necessary policies, the central bank is planning to issue the directive to make it mandatory for BFIs to purchase cyber security insurance policy within the current fiscal year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">At present, BFIs have been insuring their property through blanket insurance. However, this insurance policy doesn’t cover cyber security risk.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">A committee formed to probe the ATM hacking of August 31 by some Chinese nationals in Kathmandu has also recommended the central bank to introduce guidelines to make it mandatory for BFIs to purchase cyber security insurance policy.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">NRB Spokesperson confirmed that the central bank is currently studying the issue and will instrduce the directive soon.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">A group of Chinese hackers had illegally withdrawn more than Rs 30 million from different ATMs in the capital as well as from India using cards issued by Nepali banks on August 31.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Nepal is likely to recover the amount confiscated from six Chinese nationals and operators of two money exchange centres arrested in connection with the case but the amount withdrawn from India is unlikely to be recovered.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, 12 Nepalis were also arrested about a month ago for withdrawing more than Rs 47 million using the username and password of staffers of Agriculture Development Bank. The group was reportedly operating under the instructions of an African named Peter, who allegedly resides in Mumbai. Police have recovered Rs 4 million in this case.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Following these incidents, the central bank has pressed for cyber security insurance.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2019-10-30', 'modified' => '2019-10-30', 'keywords' => '', 'description' => '', 'sortorder' => '11337', 'image' => '20191030012457_1572136597.jpg', 'article_date' => '2019-10-30 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 14 => array( 'Article' => array( 'id' => '11586', 'article_category_id' => '266', 'title' => 'Ncell’s offers Four Times more 4G Data Bonus during Tihar ', 'sub_title' => '', 'summary' => 'October 25: Ncell, on the occasion of Tihar and Chhath, has launched 4G data bonus offer enabling customers to take benefit from four times more 4G data. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">October 25: Ncell, on the occasion of Tihar and Chhath, has launched 4G data bonus offer enabling customers to take benefit from four times more 4G data. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">The offer has come into effect from Thursday (October 24) and will remain in place for 15 days. Under this festive scheme, customers buying 75 MB data pack with validity of one day and 500 MB data pack which comes with seven-day validity will enjoy four times more 4G data as bonus.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">Subscribers who activate 75 MB data at Rs 15 (Rs 19.15 including taxes) get additional 225 MB data applicable in 4G network. This means, customers get total 300 MB data at just Rs 15. Similarly, customers activating 500 MB data priced at Rs 75 (Rs 95.77 including taxes) get total 2000 MB data including additional 1500 MB 4G data as bonus. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">To get benefited from this offer, customers can simply dial *17123*44# or they can activate the offer even through Ncell App. 4G bonus data can be used in 4G network coverage area with 4G compatible handset and USIM.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">Ncell believes that the additional 4G data bonus will ensure extra value to customers, allowing them to remain online, connected with friends and family members to share festive excitements.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">Customers can visit nearest Ncell Centre and upgrade their SIM card to USIM for just Re 1. Once customers change or update SIM card to USIM, they also get additional 1GB data valid for seven days for free. This data can be used during day time (5AM to 5 PM). After getting USIM, customers can dial *324# and start enjoying 4G service.</span></span></span></span></p> ', 'published' => true, 'created' => '2019-10-25', 'modified' => '2019-10-25', 'keywords' => '', 'description' => '', 'sortorder' => '11336', 'image' => '20191025035430_20191003115711_aaaaf.jpg', 'article_date' => '2019-10-25 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' => '11600', 'article_category_id' => '1', 'title' => 'BFIs can Fund up to 70 Percent for Home Loan', 'sub_title' => '', 'summary' => 'November 3: Any individual purchasing home or apartment for the first time will now be able to get loan up to 70 percent from banks and financial institutions (BFIs). ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 3: Any individual purchasing home or apartment for the first time will now be able to get loan up to 70 percent from banks and financial institutions (BFIs). Prior to this, BFIs had been funding 50 percent of the total cost within the Kathmandu Valley and 60 percent outside the valley.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Nepal Rastra Bank introduced this new policy by amending the Unified Directives on Friday, November 1. As per the revised policy, borrowers can acquire up to Rs 15 million from banks.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The central bank has stated that in order to acquire such loan, the borrower must have to purchase a residential area of 3000 square feet and the housing must be purchased for personal use.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Before providing such loan, BFIs must ascertain that the borrower has not taken such type of loan before. The central bank has also instructed not to increase the installment amount in case the interest rate increases.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Although this new provision has provided some relief for those aspiring to purchase apartments at a time when the central bank has tightened its screws on lending in the housing sector, CEO of Sanima Bank Bhuvan Dahal says there are some ambiguities in this new policy.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“This provision is overall good. But the central bank does not have clear policy regarding the individuals who had taken such loans and cleared all the dues,” said Dahal.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Dahal further said that the BFIs do not have records of such individuals.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“This will complicate things for us,” he added.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Likewise, the central bank as also introduced a policy to stabilize the rate of interest. As per the new policy, a mutual understanding can be reached between the lender and the borrower for a fixed rate of interest if the loan is provided for a period of more than a year.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">BFIs cannot increase the rate of interest whatever might be the situation. However, such rate of interest will be more than the normal rate, according to BFIs.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2019-11-03', 'modified' => '2019-11-03', 'keywords' => '', 'description' => '', 'sortorder' => '11350', 'image' => '20191103105307_1572751033.jpg', 'article_date' => '2019-11-03 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 1 => array( 'Article' => array( 'id' => '11598', 'article_category_id' => '1', 'title' => 'World Bank Executive Directors Visit Nepal, Discuss Federalism, Diversified Investment', 'sub_title' => '', 'summary' => 'November 3: An eleven-member delegation of the World Bank Group Executive Directors (EDs) visited Nepal from October 29 to November 1, to gain a comprehensive view of Nepal’s current development status and opportunities.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">November 3: An eleven-member delegation of the World Bank Group Executive Directors (EDs) visited Nepal from October 29 to November 1, to gain a comprehensive view of Nepal’s current development status and opportunities. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">According to the World Bank, the visit marked the 50th year of World Bank Group-Nepal engagement, with the first World Bank credit in Nepal approved by the board on November 4, 1969.The trip was part of a larger visit to the South Asia Region that will also include Bangladesh and the Maldives, World Bank said in a statement.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">During their visit, the EDs met with representatives from federal and local governments, the private sector, development partners, and civil society. Discussions centered around Nepal’s transition to federalism, the need to invest in the country’s human capital, crowding in the private sector for diversified investment, the pace of reconstruction after the earthquakes in 2015, and the creation of jobs, especially for Nepal’s youth.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">“Nepal has made progress in reduction of poverty and its stable government signals a smoother transition to the federal structure,” the statement quoted Jorge Chavez Presa, spokesperson of the delegation as saying. “However, to ensure stronger and more sustained growth, it needs rapid strengthening of institutions and systems. The World Bank Group is committed to help the Government of Nepal achieve its ambitious goals for the benefit of all Nepalis.”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The EDs’ conversations with Finance Minister Dr Yuba Raj Khatiwada focused on leveraging World Bank Group-wide support for the federalism agenda, maximizing finance for development, and investing in health and education for the people of Nepal, the statement further said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">During the visit to an earthquake reconstruction site in Patlekhet of Kavrepalanchowk, the EDs learnt about the reconstruction program that supported rebuilding of more than 430,000 houses after the devastating earthquakes.The Government of Nepal’s larger rural housing reconstruction program aims to provide earthquake-resistant housing for around 700,000 beneficiaries. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">To further understand investment scenarios and discuss ways for diversifying investment, the EDs met entrepreneurs and private sector representatives. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The World Bank Group said it has a strong partnership with Nepal, with 50 years of engagement since 1969. The current investment portfolio cuts across all key sectors in 25 projects and has a net commitment of $2.47 billion (as of September 2019).</span></span></span></span></p> ', 'published' => true, 'created' => '2019-11-03', 'modified' => '2019-11-03', 'keywords' => '', 'description' => '', 'sortorder' => '11349', 'image' => '20191103095805_aaaa.jpg', 'article_date' => '2019-11-03 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 2 => array( 'Article' => array( 'id' => '11597', 'article_category_id' => '1', 'title' => 'Palm Oil Increases Overall Export of Nepal', 'sub_title' => '', 'summary' => 'November 3: The rise in export of palm oil and soybean oil has increased the overall export of Nepal by 15 percent. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 3: </span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The rise in export of palm oil and soybean oil has increased the overall export of Nepal by 15 percent. Palm and soybean oils are not produced in Nepal but have become a major export products in the recent days. The total export of Nepal in the first three months of the current fiscal year 2019/20 has reached 27.16 billion. This is not a result of increased production within the country but due to the export of palm and soybean oils, which are first imported in crude form, then processed and exported mainly to India.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Palm oil and soybean oil make up 27 percent of the total export during the review period. During this period, palm and soybean oils worth Rs 7.26 billion were exported from Nepal. If these two products are excluded, Nepal’s export in the first three months of current FY will be around Rs 20 billion, which is Rs 3 billion less compared to the same period of last fiscal year.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">This clearly shows that the government’s initiative to promote domestic products in the international market has been ineffective as the increase in export of Nepal is basically due to the export of palm and soybean oils that are first imported and then repackaged and exported to India.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to the Department of Customs, Nepal exported palm oil worth Rs 5.78 billion and soybean oil worth Rs 1.48 billion during the review period. In the meantime, Nepal imported palm oil worth Rs 5.54 billion and soybean oil worth Rs 4 billion, records maintained by the department have revealed.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The massive surge in import and export of palm oil in the recent time is attributed to the low import duty on the product in Nepal compared to India. The local businessmen are taking advantage of this gap in tariff imposed by the two countries. Nepal imposes 10 percent customs duty on import of palm oil while India imposes 40 percent customs duty for the same product.</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"">India, which is one of the largest importers of palm oil in the world, had increased customs duty on crude palm oil imported from Association of Southeast Asian Nations (ASEAN) by $5 and refined palm oil by $9.</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"">This has directly benefitted the local businessmen of Nepal where there is lower customs duty for import of palm oil. </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"">Nepali businessmen import crude palm oil from Indonesia, Malaysia, Brazil, Ukraine, Thailand and Argentina and export refined palm oil to India.</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"">“Nepali exporters have been benefitting from the low customs duty for agricultural product that the Indian government has given to Nepal,” said Anand Bagaria, a local businessman.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“Bangladesh and Sri Lanka are also doing the same,” he added.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2019-11-03', 'modified' => '2019-11-03', 'keywords' => '', 'description' => '', 'sortorder' => '11348', 'image' => '20191103092810_20190807121918_Clipboard01.jpg', 'article_date' => '2019-11-03 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 3 => array( 'Article' => array( 'id' => '11599', 'article_category_id' => '1', 'title' => 'Himalaya Airlines Connects Kathmandu and Beijing with Direct Flights', 'sub_title' => '', 'summary' => 'November 3: Himalaya Airlines, a Nepal-China joint venture airline operating internationally, is gearing up to meet the demand for travelers to and from China this winter, by introducing its latest flights from Kathmandu to Beijing.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Georgia","serif"">November 3: Himalaya Airlines, a Nepal-China joint venture airline operating internationally, is gearing up to meet the demand for travelers to and from China this winter, by introducing its latest flights from Kathmandu to Beijing.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Georgia","serif"">The airline which launched its maiden flight between Kathmandu and Beijing on October 27, establishing the historical direct connectivity between the capital cities of the two countries, has announced thrice weekly flight schedule.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Georgia","serif"">The new flight, according to the airliner company, is the latest move in Himalaya Airlines’ business strategy of network expansion to boost Nepal’s connectivity with China, which is an important trade partner for Nepal besides being the second largest market for tourists in Nepal. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Georgia","serif"">In recent years, the demand for seats has grown exponentially amongst both business and leisure passengers, not only increasing tourism traffic and revenue but also promoting vital trade agreements between the two countries, Himalaya Airlines said in a statement.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Georgia","serif"">“This growth in Airlines’ network follows the revised Air Services Agreement between the Government of Nepal and China in July 2019,which opened up five new points in China for the Nepali airline companies for 2019 and three more for the year 2020,” the statement said.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">Minister for </span></span><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">Culture, Tourism and Civil Aviation </span></span><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">YogeshBhattarai</span></span><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">, Chinese Ambassador to Nepal </span></span><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">Hou Yanqi</span></span><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">, along with high ranking officials from CAANand TIA were present at the pre-departure function of the inaugural flight at the Radisson Airport Restaurant.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">Minister Bhattarai congratulated Himalaya Airlines for this important connectivity with China which will contribute to the targeted tourist arrivals of 500,000 Chinese travellers for VNY 2020.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">Wishing for the successful operation of this direct connectivity, Chinese Ambassador Hou stated, “<em>Nepal is an important international tourist destination and among the South Asian countries it is also the first choice to travel for Chinese tourists.</em>”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">The inaugural flight departed from Tribhuvan International Airport (TIA) on October 27 at 08:30 hours and touched down at Beijing’s Daxing International Airport (PKX) at 16:10 hours. The return flight from Beijing took place on the same day at 17:40 hours and arrived in Kathmandu at 21:45 hours. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Georgia","serif"">The airline operates a fleet of three A320 Airbus with its scheduled service to Doha Abu Dhabi, Dammam and Dhaka. In addition, the airline has already announced its plan to increase its fleet with introduction of two A319 aircraft by the end of 2019/beginning of 2020. With this service, </span><span style="font-family:"Georgia","serif"">Himalaya Airlines has become the only Nepali airline to operate direct flights between the capitals of both the countries.<strong> </strong></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2019-11-03', 'modified' => '2019-11-03', 'keywords' => '', 'description' => '', 'sortorder' => '11347', 'image' => '20191103102012_Beijing (2).jpg', 'article_date' => '2019-11-03 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 4 => array( 'Article' => array( 'id' => '11596', 'article_category_id' => '1', 'title' => 'High Entry Fee Hindering Tourism in Upper Mustang', 'sub_title' => '', 'summary' => 'November 1: Road condition and high entry fee to Upper Mustang have posed a challenge to the tourism industry of this region. ', 'content' => '<p><span style="font-size:14px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">November 1: Road condition and high entry fee to Upper Mustang have posed a challenge to the tourism industry of this region. Although the country is gearing up for the Visit Nepal 2020 campaign, the number of visitors in Upper Mustang has not been able to increase, reported Rastriya Samachar Samitee (RSS).</span></span></span></p> <p><span style="font-size:14px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">According to the state-owned news agency, the locals have demanded operation of alternative trekking routes, publicity and reduction in entry fee to promote tourism in the highlands of Upper Mustang. </span></span></span></p> <p><span style="font-size:14px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">Foreign tourists have to form a group of at least two persons and pay US$ 500 to the Department of Immigration for a ten-day visit to Lo Manthang and Damodar Kunda in Upper Mustang. If the visitors say there for more than ten days, they need to furnish proper explanation and pay and additional US$ 50 per day, according to RSS.</span></span></span></p> <p><span style="font-size:14px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">Although tourism entrepreneurs have spent millions of rupees to set up well-facilitated hotels in this remote region, the high charge and lengthy process have endangered the tourism business in this area renowned for its natural landscape and beauty, says Ram Bahadur Gurung, a local hotel entrepreneur.</span></span></span></p> <p><span style="font-size:14px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">Altogether 50 resorts, hotels and lodges which can accommodate up to 500 tourists are in operation in Upper Mustang. The cost of establishing the hotels in this remote area is estimated to be between Rs 3 million to Rs 200 million. New hotels are being constructed. The number of domestic tourists rises during holidays and festivals but this trend is not regular.</span></span></span></p> <p><span style="font-size:14px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">The number of foreign tourists visiting Upper Mustang in 2016, 2017 and 2018 was respectively 3,918; 4,015 and 3,946, according to Annapurna Conservation Area Project (ACAP). The number of visitors this year is similar to last year, RSS reported.</span></span></span></p> <p><span style="font-size:14px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">Upper Mustang was opened for tourists for the first time in 1992, during which 483 visitors trekked to the region. The number of foreign tourists was around 800 annually until 2007 when the entry charge was US$ 70. According to RSS, the number of foreign visitors increased after the entry fee was reduced.</span></span></span></p> <p><span style="font-size:14px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">The major attractions of this place include artistic hills, desert landscape, houses made of mud, Himalayan lifestyle, old Tibetan culture, palaces of historic importance, caves, monasteries and Korala border.</span></span></span></p> <p><span style="font-size:14px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif""><img alt="" src="/app/webroot/userfiles/images/20181023011412_kagbeni%20fapar.jpg" style="height:500px; width:667px" /></span></span></span></p> <p> </p> <p><span style="font-size:14px"><span style="font-family:"Times New Roman",serif"> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2019-11-01', 'modified' => '2019-11-01', 'keywords' => '', 'description' => '', 'sortorder' => '11346', 'image' => '20191101104401_20181214124012_Upper Mustang.jpg', 'article_date' => '2019-11-01 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 5 => array( 'Article' => array( 'id' => '11593', 'article_category_id' => '1', 'title' => 'Doing Business Report did not Incorporate all Reforms Initiated by Nepal: Finance Minister', 'sub_title' => '', 'summary' => 'November 1: Finance Minister Dr Yuba Raj Khatiwada has said that all the reforms initiated by the government to facilitate business in the country have not been incorporated in the Ease of Doing Business Report published recently by the World Bank.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">November 1: Finance Minister Dr Yuba Raj Khatiwada has said that all the reforms initiated by the government to facilitate business in the country have not been incorporated in the Ease of Doing Business Report published recently by the World Bank.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">The finance minister made such remarks on Thursday during a meeting with a delegation of high-ranking officials of the World Bank, who are in a visit to Nepal.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">Nepal has climbed 16 spots in the Doing Business Index of the World Bank. Nepal, which was in the 110<sup>th</sup> position last year, jumped to the 94<sup>th</sup> position this year. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">Government officials say that Nepal leapfrogged in the Doing Business Index due to the policy-level reforms in creating a conducive environment for business. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">In his meeting with the World Bank officials, Minister Khatiwada expressed his belief that the reforms made by Nepal would be included in the next report of the World Bank and Nepal would rise further in the index. Minister Khatiwada claimed that Nepal would climb to the 80<sup>th</sup> position of Doing Business Index next year.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">The recent World Bank report states that Nepal made improvements in five out of 10 areas measured in the report.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">The report further says Nepal made the progress despite increasing the cost to do business by hiking up the registration fee to transfer properties. Nepal made starting a business more difficult by requiring in-person follow-up for employee registration for social security.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt"><img alt="" src="/app/webroot/userfiles/images/20191024114321_Doing%20Business.jpg" style="height:600px; width:800px" /></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"> </span></span></p> ', 'published' => true, 'created' => '2019-11-01', 'modified' => '2019-11-01', 'keywords' => '', 'description' => '', 'sortorder' => '11345', 'image' => '20191101092421_aaaa.jpg', 'article_date' => '2019-11-01 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 6 => array( 'Article' => array( 'id' => '11595', 'article_category_id' => '1', 'title' => 'World Bank Pledges Rs 20 Billion for Upgrading Roads: Finance Ministry', 'sub_title' => '', 'summary' => 'November 1: The World Bank has pledged a loan of Rs 20 billion to Nepal for road upgrading projects.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 1: The World Bank has pledged a loan of Rs 20 billion to Nepal for road upgrading projects.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The loan assistance for Nagdhunga-Mugling road upgrading project and Dhalkebar-Pathlaiya road section of the East-West Highway is in the final phase of agreement, according to government officials.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Ministry of Finance has confirmed that the World Bank will be providing Rs 20 billion loan for these two projects.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The government had some years ago decided to upgrade the East-West Highway into four lanes. The Asian Development Bank has already initiated the process to support upgrading Narayanghad-Butwal section of the East-West Highway while the World Bank has pledged to support the Dhalkebar-Pathlaiya section.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">A highly-placed source at the Ministry of Finance told New Business Age that the government is preparing to sign an agreement with the World Bank within a month to seek support to upgrade the Nagdhunga-Mugling road section. The upgrading works will begin from January, according to the source.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Department of Roads is preparing to issue a tender after the agreement within a month, the source added. The government intends to complete upgrading the 93-kilometre road within three years.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The department said that they will adopt a new approach to lessen traffic congestion in this road section. Vehicles have been stuck in traffic jam in Nagdhunga area due to the use of heavy cargo vehicles along this route. The road section is narrow and inclined, leading to traffic congestion in case any vehicle breaks down.</span></span></p> ', 'published' => true, 'created' => '2019-11-01', 'modified' => '2019-11-01', 'keywords' => '', 'description' => '', 'sortorder' => '11344', 'image' => '20191101095935_aaa.jpg', 'article_date' => '2019-11-01 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 7 => array( 'Article' => array( 'id' => '11594', 'article_category_id' => '1', 'title' => 'PM Oli Discharged from Hospital', 'sub_title' => '', 'summary' => 'November 1: Prime Minister KP Sharma Oli has been discharged from hospital on Thursday. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 1: Prime Minister KP Sharma Oli has been discharged from hospital on Thursday. He was admitted to Grande International Hospital on Wednesday after complaining of health problems.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">While leaving the hospital on Thursday evening, PM Oli said that he was “fine”.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The prime minister received hemodialysis twice during his stay at the hospital.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Although the prime minister’s secretariat said it was a regular check-up, it has been widely reported that PM Oli had to undergo an emergency dialysis on Wednesday.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Grande’s Director Dr Chakra Raj Pandey said that the level of creatinine in Oli’s blood was high while he was admitted to the hospital but the level is normal after treatment.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“The prime minister’s health condition was good and now it has become better after treatment,” said Pandey.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">He declined to divulge further details saying that although Oli holds a public post an individual patient has the right to privacy.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">PM Oli has been undergoing regular check-up after his kidney transplant 12 years ago. Doctors have advised him to take plenty of rest.</span></span></p> ', 'published' => true, 'created' => '2019-11-01', 'modified' => '2019-11-01', 'keywords' => '', 'description' => '', 'sortorder' => '11343', 'image' => '20191101093923_20190214013326_maxresdefault.jpg', 'article_date' => '2019-11-01 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 8 => array( 'Article' => array( 'id' => '11592', 'article_category_id' => '1', 'title' => 'NAC Preparing to Operate Flights to Japan’s Narita from upcoming January', 'sub_title' => '', 'summary' => 'October 31: Nepal Airlines Corporation is preparing to operate flights to Narita of Japan after suffering a setback in its newly re-launched flights to Osaka. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:10.0pt"><span style="font-family:"Arial","sans-serif"">October 31: Nepal Airlines Corporation is preparing to operate flights to Narita of Japan after suffering a setback in its newly re-launched flights to Osaka. The state-owned airlines company of Nepal is preparing to operate flights to Narita from January 2020.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:10.0pt"><span style="font-family:"Arial","sans-serif"">NAC, which has been operating flights to Osaka since August 29, has not found enough passengers along the route. Initially, NAC had scheduled to operate three flights a week to Osaka on Tuesdays, Thursdays and Saturdays. But due to the lack of passengers, NAC reduced the number of flights to two per week – on Tuesdays and Saturdays. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:10.0pt"><span style="font-family:"Arial","sans-serif"">Although the number of passengers to Osaka is steadily increasing, NAC Executive Director Madan Kharel believes that operating flights to Narita would be beneficial in the long run.</span></span></span></span></p> <p> </p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:10.0pt"><span style="font-family:"Arial","sans-serif"">From commercial point of view, Narita has better prospects for Nepal than Osaka. But Kharel said they had to opt for Osaka in the first place due to some technical issues. He said that the flag carrier of Nepal has completed all the procedures and has sought permission to operate flights to Narita. NAC will be operating flights to Narita by the time the Visit Nepal 2020 campaign kicks off, provided that Japanese authorities grant them permission to operate flights to Narita.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:10.0pt"><span style="font-family:"Arial","sans-serif"">“We wanted to operate flights to Narita before Osaka but there were some technical issues. Now that we have already provided the required documents to Japan’s civil aviation authority, we will begin flights as soon as we get the permission,” said Kharel.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:10.0pt"><span style="font-family:"Arial","sans-serif"">NAC is mulling to stop flights to Osaka once they get permission to fly to Narita.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:10.0pt"><span style="font-family:"Arial","sans-serif"">NAC had been operating flights to Osaka from 1994 till 2007, after which it stopped the flights citing lack of aircraft. NAC re-launched flights to Osaka this year after purchasing two wide-body aircraft of Airbus.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:10.0pt"><span style="font-family:"Arial","sans-serif"">Back in the 90s and 2000s, NAC used to operate flights to Osaka via Shanghai. But at present, it has been running direct flights to Osaka.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2019-10-31', 'modified' => '2019-10-31', 'keywords' => '', 'description' => '', 'sortorder' => '11342', 'image' => '20191031120033_1572142676.jpg', 'article_date' => '2019-10-31 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 9 => array( 'Article' => array( 'id' => '11591', 'article_category_id' => '1', 'title' => 'Pokhara-Mugling Highway to be Upgraded to Four Lanes with Support from ADB', 'sub_title' => 'Upgrading Highway will Reduce Travel Time to Kathmandu and Subregional Trade Corridors', 'summary' => 'October 31: The Asian Development Bank (ADB) has approved a loan of $195 million to improve the highway section between Pokhara and Mugling, which links Pokhara to Kathmandu and to subregional corridors connecting Nepal with India and Bangladesh.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:8.0pt"><span style="font-family:"Segoe UI","sans-serif"">October 31: The Asian Development Bank (ADB) has approved a loan of $195 million to improve the highway section between Pokhara and Mugling, which links Pokhara to Kathmandu and to subregional corridors connecting Nepal with India and Bangladesh.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:8.0pt"><span style="font-family:"Segoe UI","sans-serif"">The highway will be widened to four lanes, and this will reduce travel times, lower transportation cost, and improve access to domestic markets, jobs, and social services, the ADB wrote on its website on Wednesday. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:8.0pt"><span style="font-family:"Segoe UI","sans-serif"">“The project will boost the traffic capacity, reliability, and safety of the main road link from Pokhara,” ADB quoted its Transport Specialist Johan Georget as saying. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:8.0pt"><span style="font-family:"Segoe UI","sans-serif"">According to Georget, the upgraded highway will also open a wider gateway for Nepal to international markets, especially in India, and facilitate the arrivals of tourists to the region of Pokhara and its hinterland.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:8.0pt"><span style="font-family:"Segoe UI","sans-serif"">ADB further said that Nepal’s economic growth improved to 7.3 percent a year on average between fiscal years (FY) 2017 and 2019, compared with about 3.3 percent in the previous three years. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:8.0pt"><span style="font-family:"Segoe UI","sans-serif"">As a landlocked country, Nepal relies heavily on direct neighbors for international trade, mainly India, which traded 65 percent of Nepal’s imports and exports in FY2019, ADB said in a statement. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:8.0pt"><span style="font-family:"Segoe UI","sans-serif"">“While roads are the predominant mode of transport in Nepal for more than 90 percent of goods and passengers, the density and capacity of the road network remains low.”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:8.0pt"><span style="font-family:"Segoe UI","sans-serif"">This infrastructure deficiency, according to the ADB, hampers the economy, resulting in high operating costs and travel times, and impeding the development of competitive supply chains, tourism, and regional integration and trade.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:8.0pt"><span style="font-family:"Segoe UI","sans-serif"">The 200-kilometer (km) journey from Pokhara, a prime tourist destination at the foot of the Himalayas, to the Nepalese capital Kathmandu takes more than 5 hours by road. It is currently a two-lane highway that handles about 7,400 vehicles a day. As the number of vehicle registrations has been rising and total vehicles are expected to quadruple by 2029, upgrading national highways is a priority to support economic development, the statement added.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:8.0pt"><span style="font-family:"Segoe UI","sans-serif"">Under this project, 81 km of the road will be widened to four lanes from Pokhara to Abukhaireni to meet the increasing demand. Improvements will be made to the surfacing, structure, and drainage, with safety features such as crash barriers, and traffic and other warning light systems installed. A second 8-km section between Mugling and Abukhaireni will be considered for a subsequent project.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:8.0pt"><span style="font-family:"Segoe UI","sans-serif"">According to the ADB, the road will be divided by a median, while service lanes in urban areas will improve safety, especially for pedestrians, bicycles, and motorcycle users. This is especially important since the country suffers a high rate of almost 16 deaths per 100,000 people due to traffic accidents. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:8.0pt"><span style="font-family:"Segoe UI","sans-serif"">The total cost of the project is $254 million, of which the government will provide $59 million. The project is due for completion at the end of 2025.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:8.0pt"><span style="font-family:"Segoe UI","sans-serif"">Accompanying the loan is an ADB technical assistance grant of $500,000 to strengthen disaster risk reduction, landslide management, road safety, and procurement in the Ministry of Physical Infrastructure and Transport and Department of Roads.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:8.0pt"><span style="font-family:"Segoe UI","sans-serif""><img alt="" src="/app/webroot/userfiles/images/aaaa.jpg" style="height:600px; width:800px" /></span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2019-10-31', 'modified' => '2019-10-31', 'keywords' => '', 'description' => '', 'sortorder' => '11341', 'image' => '20191031112222_aaaaa8317 - Copy.jpg', 'article_date' => '2019-10-31 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 10 => array( 'Article' => array( 'id' => '11588', 'article_category_id' => '1', 'title' => 'Hotel Association of Nepal to Launch Concessional Packages for VNY 2020', 'sub_title' => '', 'summary' => 'October 31: Hotel Association of Nepal (HAN) is preparing to launch concessional package for the Visit Nepal 2020 campaign, which is just two months away.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 31: Hotel Association of Nepal (HAN) is preparing to launch concessional package for the Visit Nepal 2020 campaign, which is just two months away.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">HAN has instructed its members to announce packages offering discount to tourists during the Visit Nepal Year 2020. Around 2000 hotels, including 5-star hotels, are associated with HAN as its members.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">As per the announcement of HAN, its member hotels will provide the concessional package only to foreign tourists.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to HAN, its members will provide 30 percent discount on room charge and 15 percent on food and beverage.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">HAN’s President Srijana Rana said that the association is preparing to announce the package especially for the Visit Nepal 2020 campaign. Rana, who is also the executive director of 5-star Annapurna Hotel, said that the hospitality sector has an important role to make the Visit Nepal 2020 campaign a success.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“It is essential to bring concessional packages to attract tourists,” said Rana, adding that the hotel entrepreneurs are well aware of this fact.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">She further said that the private sector is ready to support the government to make the campaign a success. Rana suggested that the hotels should provide additional training to their staffers as the Visit Nepal Year 2020 draws closer.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“The standard of service that the Nepalese hotel industry provides is excellent. But this sector still requires more effort to improve the standard of service,” said Rana.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">She also said that the government should focus on connectivity and also ensure that there isn’t any further delay in upgrading road infrastructure as well as new airports.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Meanwhile, former president of HAN Amar Man Shakya said that the hotel industry is ready to serve the tourists but other infrastructures like roads are not satisfactory. He also said that the promotion for the campaign has not been much effective.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“Currently, the hotels in Nepal can accommodate not just 2 million tourists but 2.5 million visitors,” claimed Shakya, adding, “But the road network and other infrastructures in the country are in pathetic state.”</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">He said that the month of October is considered the ideal season for tourist arrival but there has been a slump in the number of tourists in Nepal during the peak season.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"> </span></span></p> ', 'published' => true, 'created' => '2019-10-31', 'modified' => '2019-10-31', 'keywords' => '', 'description' => '', 'sortorder' => '11340', 'image' => '20191031092022_20190628024129_Visit-nepal-2020.jpg', 'article_date' => '2019-10-31 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 11 => array( 'Article' => array( 'id' => '11590', 'article_category_id' => '1', 'title' => 'DoTM yet to Print Smart License Despite Procuring Mass Printer', 'sub_title' => '', 'summary' => 'October 31: The Department of Transport Management (DoTM) has failed to print smart license despite importing a mass printer more than two months ago. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 31: The Department of Transport Management (DoTM) has failed to print smart license despite importing a mass printer more than two months ago. The department had promised to solve the problem of issuing smart license by the time of Dashain, after purchasing the machine with the financial assistance of Asian Development Bank (ADB). However, it has failed to print the license with the help of the new machine.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The department had decided to procure the mass printer after it couldn’t deliver smart licenses on time with the help of nine small printers purchased from Madras Security Print.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The department claimed that the new mass printer can run for 24 hours a day and can print 500 smart licenses per hour.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">IT chief of DoTM Shree Chandra Shah attributed the delay to the need of testing the capacity of the new printer.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“We will first test the machine immediately after Tihar and then only bring it into operation,” said Shah.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The department also admitted that the lack of skilled manpower to operate the machine has also caused the inordinate delay in printing smart licenses.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"> </span></span></p> ', 'published' => true, 'created' => '2019-10-31', 'modified' => '2019-10-31', 'keywords' => '', 'description' => '', 'sortorder' => '11339', 'image' => '20191031104655_1572426091.jpg', 'article_date' => '2019-10-31 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 12 => array( 'Article' => array( 'id' => '11589', 'article_category_id' => '1', 'title' => 'Province 3 to Set Up its own Construction Company', 'sub_title' => '', 'summary' => 'October 31: Three months after the government registered its own construction company to undertake construction works on its own , Province 3 is planning to set up a similar company in the near future.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.5pt"><span style="font-family:"arial sans-serif","serif"">October 31: Three months after the government registered its own construction company to undertake construction works on its own , Province 3 is planning to set up a similar company in the near future. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.5pt"><span style="font-family:"arial sans-serif","serif"">The provincial government decided to establish its own construction company to address the problems like delay in infrastructure development and sub-standard works. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.5pt"><span style="font-family:"arial sans-serif","serif"">Chief Minister of Province 3 Dormani Poudel said that the council of ministers has already given the nod to the provincial government to move ahead with the process of establishing its own company.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.5pt"><span style="font-family:"arial sans-serif","serif"">According to the chief minister, the first meeting of the Provincial Development Council will begin the process of setting up the company.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.5pt"><span style="font-family:"arial sans-serif","serif"">Poudel argued that there will not be any hindrance in opening such company as the federal government has already set a precedent by formulating necessary laws in this regard.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.5pt"><span style="font-family:"arial sans-serif","serif"">Chief Minister Poudel clarified that the proposed company will not be competing with private companies but will support the provincial government to expedite the projects.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.5pt"><span style="font-family:"arial sans-serif","serif"">Earlier in July, the central government had registered its own construction company with an issued capital of Rs 3 billion.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2019-10-31', 'modified' => '2019-10-31', 'keywords' => '', 'description' => '', 'sortorder' => '11338', 'image' => '20191031102427_New province 3.jpg', 'article_date' => '2019-10-31 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 13 => array( 'Article' => array( 'id' => '11587', 'article_category_id' => '1', 'title' => 'Central Bank to Direct BFIs to Purchase Cyber Security Insurance Policy', 'sub_title' => '', 'summary' => 'October 30: Nepal Rastra Bank is preparing to instruct banks and financial institutions to purchase cyber security insurance policy. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">October 30: Nepal Rastra Bank is preparing to instruct banks and financial institutions to purchase cyber security insurance policy. Nepal has insurance policy on cyber security but none of the banks have purchased such policy. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Nepal Insurance Company has introduced Cyber Risk Protector policy from the last fiscal year. However, banks have not paid any attention to the policy despite considerable risk. It has been learnt that BFIs have not shown interest to purchase cyber security insurance policy as such policies are expensive as compared to other insurance policies.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Sources at Nepal Rastra Bank said that the central bank is currently studying this issue. After formulating necessary policies, the central bank is planning to issue the directive to make it mandatory for BFIs to purchase cyber security insurance policy within the current fiscal year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">At present, BFIs have been insuring their property through blanket insurance. However, this insurance policy doesn’t cover cyber security risk.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">A committee formed to probe the ATM hacking of August 31 by some Chinese nationals in Kathmandu has also recommended the central bank to introduce guidelines to make it mandatory for BFIs to purchase cyber security insurance policy.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">NRB Spokesperson confirmed that the central bank is currently studying the issue and will instrduce the directive soon.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">A group of Chinese hackers had illegally withdrawn more than Rs 30 million from different ATMs in the capital as well as from India using cards issued by Nepali banks on August 31.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Nepal is likely to recover the amount confiscated from six Chinese nationals and operators of two money exchange centres arrested in connection with the case but the amount withdrawn from India is unlikely to be recovered.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, 12 Nepalis were also arrested about a month ago for withdrawing more than Rs 47 million using the username and password of staffers of Agriculture Development Bank. The group was reportedly operating under the instructions of an African named Peter, who allegedly resides in Mumbai. Police have recovered Rs 4 million in this case.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Following these incidents, the central bank has pressed for cyber security insurance.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2019-10-30', 'modified' => '2019-10-30', 'keywords' => '', 'description' => '', 'sortorder' => '11337', 'image' => '20191030012457_1572136597.jpg', 'article_date' => '2019-10-30 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 14 => array( 'Article' => array( 'id' => '11586', 'article_category_id' => '266', 'title' => 'Ncell’s offers Four Times more 4G Data Bonus during Tihar ', 'sub_title' => '', 'summary' => 'October 25: Ncell, on the occasion of Tihar and Chhath, has launched 4G data bonus offer enabling customers to take benefit from four times more 4G data. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">October 25: Ncell, on the occasion of Tihar and Chhath, has launched 4G data bonus offer enabling customers to take benefit from four times more 4G data. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">The offer has come into effect from Thursday (October 24) and will remain in place for 15 days. Under this festive scheme, customers buying 75 MB data pack with validity of one day and 500 MB data pack which comes with seven-day validity will enjoy four times more 4G data as bonus.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">Subscribers who activate 75 MB data at Rs 15 (Rs 19.15 including taxes) get additional 225 MB data applicable in 4G network. This means, customers get total 300 MB data at just Rs 15. Similarly, customers activating 500 MB data priced at Rs 75 (Rs 95.77 including taxes) get total 2000 MB data including additional 1500 MB 4G data as bonus. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">To get benefited from this offer, customers can simply dial *17123*44# or they can activate the offer even through Ncell App. 4G bonus data can be used in 4G network coverage area with 4G compatible handset and USIM.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">Ncell believes that the additional 4G data bonus will ensure extra value to customers, allowing them to remain online, connected with friends and family members to share festive excitements.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">Customers can visit nearest Ncell Centre and upgrade their SIM card to USIM for just Re 1. Once customers change or update SIM card to USIM, they also get additional 1GB data valid for seven days for free. This data can be used during day time (5AM to 5 PM). After getting USIM, customers can dial *324# and start enjoying 4G service.</span></span></span></span></p> ', 'published' => true, 'created' => '2019-10-25', 'modified' => '2019-10-25', 'keywords' => '', 'description' => '', 'sortorder' => '11336', 'image' => '20191025035430_20191003115711_aaaaf.jpg', 'article_date' => '2019-10-25 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' => '11600', 'article_category_id' => '1', 'title' => 'BFIs can Fund up to 70 Percent for Home Loan', 'sub_title' => '', 'summary' => 'November 3: Any individual purchasing home or apartment for the first time will now be able to get loan up to 70 percent from banks and financial institutions (BFIs). ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 3: Any individual purchasing home or apartment for the first time will now be able to get loan up to 70 percent from banks and financial institutions (BFIs). Prior to this, BFIs had been funding 50 percent of the total cost within the Kathmandu Valley and 60 percent outside the valley.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Nepal Rastra Bank introduced this new policy by amending the Unified Directives on Friday, November 1. As per the revised policy, borrowers can acquire up to Rs 15 million from banks.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The central bank has stated that in order to acquire such loan, the borrower must have to purchase a residential area of 3000 square feet and the housing must be purchased for personal use.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Before providing such loan, BFIs must ascertain that the borrower has not taken such type of loan before. The central bank has also instructed not to increase the installment amount in case the interest rate increases.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Although this new provision has provided some relief for those aspiring to purchase apartments at a time when the central bank has tightened its screws on lending in the housing sector, CEO of Sanima Bank Bhuvan Dahal says there are some ambiguities in this new policy.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“This provision is overall good. But the central bank does not have clear policy regarding the individuals who had taken such loans and cleared all the dues,” said Dahal.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Dahal further said that the BFIs do not have records of such individuals.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“This will complicate things for us,” he added.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Likewise, the central bank as also introduced a policy to stabilize the rate of interest. As per the new policy, a mutual understanding can be reached between the lender and the borrower for a fixed rate of interest if the loan is provided for a period of more than a year.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">BFIs cannot increase the rate of interest whatever might be the situation. However, such rate of interest will be more than the normal rate, according to BFIs.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2019-11-03', 'modified' => '2019-11-03', 'keywords' => '', 'description' => '', 'sortorder' => '11350', 'image' => '20191103105307_1572751033.jpg', 'article_date' => '2019-11-03 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 1 => array( 'Article' => array( 'id' => '11598', 'article_category_id' => '1', 'title' => 'World Bank Executive Directors Visit Nepal, Discuss Federalism, Diversified Investment', 'sub_title' => '', 'summary' => 'November 3: An eleven-member delegation of the World Bank Group Executive Directors (EDs) visited Nepal from October 29 to November 1, to gain a comprehensive view of Nepal’s current development status and opportunities.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">November 3: An eleven-member delegation of the World Bank Group Executive Directors (EDs) visited Nepal from October 29 to November 1, to gain a comprehensive view of Nepal’s current development status and opportunities. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">According to the World Bank, the visit marked the 50th year of World Bank Group-Nepal engagement, with the first World Bank credit in Nepal approved by the board on November 4, 1969.The trip was part of a larger visit to the South Asia Region that will also include Bangladesh and the Maldives, World Bank said in a statement.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">During their visit, the EDs met with representatives from federal and local governments, the private sector, development partners, and civil society. Discussions centered around Nepal’s transition to federalism, the need to invest in the country’s human capital, crowding in the private sector for diversified investment, the pace of reconstruction after the earthquakes in 2015, and the creation of jobs, especially for Nepal’s youth.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">“Nepal has made progress in reduction of poverty and its stable government signals a smoother transition to the federal structure,” the statement quoted Jorge Chavez Presa, spokesperson of the delegation as saying. “However, to ensure stronger and more sustained growth, it needs rapid strengthening of institutions and systems. The World Bank Group is committed to help the Government of Nepal achieve its ambitious goals for the benefit of all Nepalis.”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The EDs’ conversations with Finance Minister Dr Yuba Raj Khatiwada focused on leveraging World Bank Group-wide support for the federalism agenda, maximizing finance for development, and investing in health and education for the people of Nepal, the statement further said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">During the visit to an earthquake reconstruction site in Patlekhet of Kavrepalanchowk, the EDs learnt about the reconstruction program that supported rebuilding of more than 430,000 houses after the devastating earthquakes.The Government of Nepal’s larger rural housing reconstruction program aims to provide earthquake-resistant housing for around 700,000 beneficiaries. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">To further understand investment scenarios and discuss ways for diversifying investment, the EDs met entrepreneurs and private sector representatives. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The World Bank Group said it has a strong partnership with Nepal, with 50 years of engagement since 1969. The current investment portfolio cuts across all key sectors in 25 projects and has a net commitment of $2.47 billion (as of September 2019).</span></span></span></span></p> ', 'published' => true, 'created' => '2019-11-03', 'modified' => '2019-11-03', 'keywords' => '', 'description' => '', 'sortorder' => '11349', 'image' => '20191103095805_aaaa.jpg', 'article_date' => '2019-11-03 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 2 => array( 'Article' => array( 'id' => '11597', 'article_category_id' => '1', 'title' => 'Palm Oil Increases Overall Export of Nepal', 'sub_title' => '', 'summary' => 'November 3: The rise in export of palm oil and soybean oil has increased the overall export of Nepal by 15 percent. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 3: </span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The rise in export of palm oil and soybean oil has increased the overall export of Nepal by 15 percent. Palm and soybean oils are not produced in Nepal but have become a major export products in the recent days. The total export of Nepal in the first three months of the current fiscal year 2019/20 has reached 27.16 billion. This is not a result of increased production within the country but due to the export of palm and soybean oils, which are first imported in crude form, then processed and exported mainly to India.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Palm oil and soybean oil make up 27 percent of the total export during the review period. During this period, palm and soybean oils worth Rs 7.26 billion were exported from Nepal. If these two products are excluded, Nepal’s export in the first three months of current FY will be around Rs 20 billion, which is Rs 3 billion less compared to the same period of last fiscal year.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">This clearly shows that the government’s initiative to promote domestic products in the international market has been ineffective as the increase in export of Nepal is basically due to the export of palm and soybean oils that are first imported and then repackaged and exported to India.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to the Department of Customs, Nepal exported palm oil worth Rs 5.78 billion and soybean oil worth Rs 1.48 billion during the review period. In the meantime, Nepal imported palm oil worth Rs 5.54 billion and soybean oil worth Rs 4 billion, records maintained by the department have revealed.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The massive surge in import and export of palm oil in the recent time is attributed to the low import duty on the product in Nepal compared to India. The local businessmen are taking advantage of this gap in tariff imposed by the two countries. Nepal imposes 10 percent customs duty on import of palm oil while India imposes 40 percent customs duty for the same product.</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"">India, which is one of the largest importers of palm oil in the world, had increased customs duty on crude palm oil imported from Association of Southeast Asian Nations (ASEAN) by $5 and refined palm oil by $9.</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"">This has directly benefitted the local businessmen of Nepal where there is lower customs duty for import of palm oil. </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"">Nepali businessmen import crude palm oil from Indonesia, Malaysia, Brazil, Ukraine, Thailand and Argentina and export refined palm oil to India.</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"">“Nepali exporters have been benefitting from the low customs duty for agricultural product that the Indian government has given to Nepal,” said Anand Bagaria, a local businessman.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“Bangladesh and Sri Lanka are also doing the same,” he added.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2019-11-03', 'modified' => '2019-11-03', 'keywords' => '', 'description' => '', 'sortorder' => '11348', 'image' => '20191103092810_20190807121918_Clipboard01.jpg', 'article_date' => '2019-11-03 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 3 => array( 'Article' => array( 'id' => '11599', 'article_category_id' => '1', 'title' => 'Himalaya Airlines Connects Kathmandu and Beijing with Direct Flights', 'sub_title' => '', 'summary' => 'November 3: Himalaya Airlines, a Nepal-China joint venture airline operating internationally, is gearing up to meet the demand for travelers to and from China this winter, by introducing its latest flights from Kathmandu to Beijing.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Georgia","serif"">November 3: Himalaya Airlines, a Nepal-China joint venture airline operating internationally, is gearing up to meet the demand for travelers to and from China this winter, by introducing its latest flights from Kathmandu to Beijing.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Georgia","serif"">The airline which launched its maiden flight between Kathmandu and Beijing on October 27, establishing the historical direct connectivity between the capital cities of the two countries, has announced thrice weekly flight schedule.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Georgia","serif"">The new flight, according to the airliner company, is the latest move in Himalaya Airlines’ business strategy of network expansion to boost Nepal’s connectivity with China, which is an important trade partner for Nepal besides being the second largest market for tourists in Nepal. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Georgia","serif"">In recent years, the demand for seats has grown exponentially amongst both business and leisure passengers, not only increasing tourism traffic and revenue but also promoting vital trade agreements between the two countries, Himalaya Airlines said in a statement.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Georgia","serif"">“This growth in Airlines’ network follows the revised Air Services Agreement between the Government of Nepal and China in July 2019,which opened up five new points in China for the Nepali airline companies for 2019 and three more for the year 2020,” the statement said.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">Minister for </span></span><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">Culture, Tourism and Civil Aviation </span></span><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">YogeshBhattarai</span></span><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">, Chinese Ambassador to Nepal </span></span><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">Hou Yanqi</span></span><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">, along with high ranking officials from CAANand TIA were present at the pre-departure function of the inaugural flight at the Radisson Airport Restaurant.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">Minister Bhattarai congratulated Himalaya Airlines for this important connectivity with China which will contribute to the targeted tourist arrivals of 500,000 Chinese travellers for VNY 2020.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">Wishing for the successful operation of this direct connectivity, Chinese Ambassador Hou stated, “<em>Nepal is an important international tourist destination and among the South Asian countries it is also the first choice to travel for Chinese tourists.</em>”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">The inaugural flight departed from Tribhuvan International Airport (TIA) on October 27 at 08:30 hours and touched down at Beijing’s Daxing International Airport (PKX) at 16:10 hours. The return flight from Beijing took place on the same day at 17:40 hours and arrived in Kathmandu at 21:45 hours. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Georgia","serif"">The airline operates a fleet of three A320 Airbus with its scheduled service to Doha Abu Dhabi, Dammam and Dhaka. In addition, the airline has already announced its plan to increase its fleet with introduction of two A319 aircraft by the end of 2019/beginning of 2020. With this service, </span><span style="font-family:"Georgia","serif"">Himalaya Airlines has become the only Nepali airline to operate direct flights between the capitals of both the countries.<strong> </strong></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2019-11-03', 'modified' => '2019-11-03', 'keywords' => '', 'description' => '', 'sortorder' => '11347', 'image' => '20191103102012_Beijing (2).jpg', 'article_date' => '2019-11-03 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 4 => array( 'Article' => array( 'id' => '11596', 'article_category_id' => '1', 'title' => 'High Entry Fee Hindering Tourism in Upper Mustang', 'sub_title' => '', 'summary' => 'November 1: Road condition and high entry fee to Upper Mustang have posed a challenge to the tourism industry of this region. ', 'content' => '<p><span style="font-size:14px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">November 1: Road condition and high entry fee to Upper Mustang have posed a challenge to the tourism industry of this region. Although the country is gearing up for the Visit Nepal 2020 campaign, the number of visitors in Upper Mustang has not been able to increase, reported Rastriya Samachar Samitee (RSS).</span></span></span></p> <p><span style="font-size:14px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">According to the state-owned news agency, the locals have demanded operation of alternative trekking routes, publicity and reduction in entry fee to promote tourism in the highlands of Upper Mustang. </span></span></span></p> <p><span style="font-size:14px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">Foreign tourists have to form a group of at least two persons and pay US$ 500 to the Department of Immigration for a ten-day visit to Lo Manthang and Damodar Kunda in Upper Mustang. If the visitors say there for more than ten days, they need to furnish proper explanation and pay and additional US$ 50 per day, according to RSS.</span></span></span></p> <p><span style="font-size:14px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">Although tourism entrepreneurs have spent millions of rupees to set up well-facilitated hotels in this remote region, the high charge and lengthy process have endangered the tourism business in this area renowned for its natural landscape and beauty, says Ram Bahadur Gurung, a local hotel entrepreneur.</span></span></span></p> <p><span style="font-size:14px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">Altogether 50 resorts, hotels and lodges which can accommodate up to 500 tourists are in operation in Upper Mustang. The cost of establishing the hotels in this remote area is estimated to be between Rs 3 million to Rs 200 million. New hotels are being constructed. The number of domestic tourists rises during holidays and festivals but this trend is not regular.</span></span></span></p> <p><span style="font-size:14px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">The number of foreign tourists visiting Upper Mustang in 2016, 2017 and 2018 was respectively 3,918; 4,015 and 3,946, according to Annapurna Conservation Area Project (ACAP). The number of visitors this year is similar to last year, RSS reported.</span></span></span></p> <p><span style="font-size:14px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">Upper Mustang was opened for tourists for the first time in 1992, during which 483 visitors trekked to the region. The number of foreign tourists was around 800 annually until 2007 when the entry charge was US$ 70. According to RSS, the number of foreign visitors increased after the entry fee was reduced.</span></span></span></p> <p><span style="font-size:14px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">The major attractions of this place include artistic hills, desert landscape, houses made of mud, Himalayan lifestyle, old Tibetan culture, palaces of historic importance, caves, monasteries and Korala border.</span></span></span></p> <p><span style="font-size:14px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif""><img alt="" src="/app/webroot/userfiles/images/20181023011412_kagbeni%20fapar.jpg" style="height:500px; width:667px" /></span></span></span></p> <p> </p> <p><span style="font-size:14px"><span style="font-family:"Times New Roman",serif"> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2019-11-01', 'modified' => '2019-11-01', 'keywords' => '', 'description' => '', 'sortorder' => '11346', 'image' => '20191101104401_20181214124012_Upper Mustang.jpg', 'article_date' => '2019-11-01 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 5 => array( 'Article' => array( 'id' => '11593', 'article_category_id' => '1', 'title' => 'Doing Business Report did not Incorporate all Reforms Initiated by Nepal: Finance Minister', 'sub_title' => '', 'summary' => 'November 1: Finance Minister Dr Yuba Raj Khatiwada has said that all the reforms initiated by the government to facilitate business in the country have not been incorporated in the Ease of Doing Business Report published recently by the World Bank.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">November 1: Finance Minister Dr Yuba Raj Khatiwada has said that all the reforms initiated by the government to facilitate business in the country have not been incorporated in the Ease of Doing Business Report published recently by the World Bank.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">The finance minister made such remarks on Thursday during a meeting with a delegation of high-ranking officials of the World Bank, who are in a visit to Nepal.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">Nepal has climbed 16 spots in the Doing Business Index of the World Bank. Nepal, which was in the 110<sup>th</sup> position last year, jumped to the 94<sup>th</sup> position this year. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">Government officials say that Nepal leapfrogged in the Doing Business Index due to the policy-level reforms in creating a conducive environment for business. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">In his meeting with the World Bank officials, Minister Khatiwada expressed his belief that the reforms made by Nepal would be included in the next report of the World Bank and Nepal would rise further in the index. Minister Khatiwada claimed that Nepal would climb to the 80<sup>th</sup> position of Doing Business Index next year.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">The recent World Bank report states that Nepal made improvements in five out of 10 areas measured in the report.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">The report further says Nepal made the progress despite increasing the cost to do business by hiking up the registration fee to transfer properties. Nepal made starting a business more difficult by requiring in-person follow-up for employee registration for social security.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt"><img alt="" src="/app/webroot/userfiles/images/20191024114321_Doing%20Business.jpg" style="height:600px; width:800px" /></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"> </span></span></p> ', 'published' => true, 'created' => '2019-11-01', 'modified' => '2019-11-01', 'keywords' => '', 'description' => '', 'sortorder' => '11345', 'image' => '20191101092421_aaaa.jpg', 'article_date' => '2019-11-01 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 6 => array( 'Article' => array( 'id' => '11595', 'article_category_id' => '1', 'title' => 'World Bank Pledges Rs 20 Billion for Upgrading Roads: Finance Ministry', 'sub_title' => '', 'summary' => 'November 1: The World Bank has pledged a loan of Rs 20 billion to Nepal for road upgrading projects.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 1: The World Bank has pledged a loan of Rs 20 billion to Nepal for road upgrading projects.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The loan assistance for Nagdhunga-Mugling road upgrading project and Dhalkebar-Pathlaiya road section of the East-West Highway is in the final phase of agreement, according to government officials.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Ministry of Finance has confirmed that the World Bank will be providing Rs 20 billion loan for these two projects.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The government had some years ago decided to upgrade the East-West Highway into four lanes. The Asian Development Bank has already initiated the process to support upgrading Narayanghad-Butwal section of the East-West Highway while the World Bank has pledged to support the Dhalkebar-Pathlaiya section.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">A highly-placed source at the Ministry of Finance told New Business Age that the government is preparing to sign an agreement with the World Bank within a month to seek support to upgrade the Nagdhunga-Mugling road section. The upgrading works will begin from January, according to the source.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Department of Roads is preparing to issue a tender after the agreement within a month, the source added. The government intends to complete upgrading the 93-kilometre road within three years.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The department said that they will adopt a new approach to lessen traffic congestion in this road section. Vehicles have been stuck in traffic jam in Nagdhunga area due to the use of heavy cargo vehicles along this route. The road section is narrow and inclined, leading to traffic congestion in case any vehicle breaks down.</span></span></p> ', 'published' => true, 'created' => '2019-11-01', 'modified' => '2019-11-01', 'keywords' => '', 'description' => '', 'sortorder' => '11344', 'image' => '20191101095935_aaa.jpg', 'article_date' => '2019-11-01 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 7 => array( 'Article' => array( 'id' => '11594', 'article_category_id' => '1', 'title' => 'PM Oli Discharged from Hospital', 'sub_title' => '', 'summary' => 'November 1: Prime Minister KP Sharma Oli has been discharged from hospital on Thursday. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 1: Prime Minister KP Sharma Oli has been discharged from hospital on Thursday. He was admitted to Grande International Hospital on Wednesday after complaining of health problems.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">While leaving the hospital on Thursday evening, PM Oli said that he was “fine”.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The prime minister received hemodialysis twice during his stay at the hospital.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Although the prime minister’s secretariat said it was a regular check-up, it has been widely reported that PM Oli had to undergo an emergency dialysis on Wednesday.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Grande’s Director Dr Chakra Raj Pandey said that the level of creatinine in Oli’s blood was high while he was admitted to the hospital but the level is normal after treatment.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“The prime minister’s health condition was good and now it has become better after treatment,” said Pandey.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">He declined to divulge further details saying that although Oli holds a public post an individual patient has the right to privacy.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">PM Oli has been undergoing regular check-up after his kidney transplant 12 years ago. Doctors have advised him to take plenty of rest.</span></span></p> ', 'published' => true, 'created' => '2019-11-01', 'modified' => '2019-11-01', 'keywords' => '', 'description' => '', 'sortorder' => '11343', 'image' => '20191101093923_20190214013326_maxresdefault.jpg', 'article_date' => '2019-11-01 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 8 => array( 'Article' => array( 'id' => '11592', 'article_category_id' => '1', 'title' => 'NAC Preparing to Operate Flights to Japan’s Narita from upcoming January', 'sub_title' => '', 'summary' => 'October 31: Nepal Airlines Corporation is preparing to operate flights to Narita of Japan after suffering a setback in its newly re-launched flights to Osaka. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:10.0pt"><span style="font-family:"Arial","sans-serif"">October 31: Nepal Airlines Corporation is preparing to operate flights to Narita of Japan after suffering a setback in its newly re-launched flights to Osaka. The state-owned airlines company of Nepal is preparing to operate flights to Narita from January 2020.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:10.0pt"><span style="font-family:"Arial","sans-serif"">NAC, which has been operating flights to Osaka since August 29, has not found enough passengers along the route. Initially, NAC had scheduled to operate three flights a week to Osaka on Tuesdays, Thursdays and Saturdays. But due to the lack of passengers, NAC reduced the number of flights to two per week – on Tuesdays and Saturdays. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:10.0pt"><span style="font-family:"Arial","sans-serif"">Although the number of passengers to Osaka is steadily increasing, NAC Executive Director Madan Kharel believes that operating flights to Narita would be beneficial in the long run.</span></span></span></span></p> <p> </p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:10.0pt"><span style="font-family:"Arial","sans-serif"">From commercial point of view, Narita has better prospects for Nepal than Osaka. But Kharel said they had to opt for Osaka in the first place due to some technical issues. He said that the flag carrier of Nepal has completed all the procedures and has sought permission to operate flights to Narita. NAC will be operating flights to Narita by the time the Visit Nepal 2020 campaign kicks off, provided that Japanese authorities grant them permission to operate flights to Narita.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:10.0pt"><span style="font-family:"Arial","sans-serif"">“We wanted to operate flights to Narita before Osaka but there were some technical issues. Now that we have already provided the required documents to Japan’s civil aviation authority, we will begin flights as soon as we get the permission,” said Kharel.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:10.0pt"><span style="font-family:"Arial","sans-serif"">NAC is mulling to stop flights to Osaka once they get permission to fly to Narita.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:10.0pt"><span style="font-family:"Arial","sans-serif"">NAC had been operating flights to Osaka from 1994 till 2007, after which it stopped the flights citing lack of aircraft. NAC re-launched flights to Osaka this year after purchasing two wide-body aircraft of Airbus.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:10.0pt"><span style="font-family:"Arial","sans-serif"">Back in the 90s and 2000s, NAC used to operate flights to Osaka via Shanghai. But at present, it has been running direct flights to Osaka.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2019-10-31', 'modified' => '2019-10-31', 'keywords' => '', 'description' => '', 'sortorder' => '11342', 'image' => '20191031120033_1572142676.jpg', 'article_date' => '2019-10-31 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 9 => array( 'Article' => array( 'id' => '11591', 'article_category_id' => '1', 'title' => 'Pokhara-Mugling Highway to be Upgraded to Four Lanes with Support from ADB', 'sub_title' => 'Upgrading Highway will Reduce Travel Time to Kathmandu and Subregional Trade Corridors', 'summary' => 'October 31: The Asian Development Bank (ADB) has approved a loan of $195 million to improve the highway section between Pokhara and Mugling, which links Pokhara to Kathmandu and to subregional corridors connecting Nepal with India and Bangladesh.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:8.0pt"><span style="font-family:"Segoe UI","sans-serif"">October 31: The Asian Development Bank (ADB) has approved a loan of $195 million to improve the highway section between Pokhara and Mugling, which links Pokhara to Kathmandu and to subregional corridors connecting Nepal with India and Bangladesh.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:8.0pt"><span style="font-family:"Segoe UI","sans-serif"">The highway will be widened to four lanes, and this will reduce travel times, lower transportation cost, and improve access to domestic markets, jobs, and social services, the ADB wrote on its website on Wednesday. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:8.0pt"><span style="font-family:"Segoe UI","sans-serif"">“The project will boost the traffic capacity, reliability, and safety of the main road link from Pokhara,” ADB quoted its Transport Specialist Johan Georget as saying. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:8.0pt"><span style="font-family:"Segoe UI","sans-serif"">According to Georget, the upgraded highway will also open a wider gateway for Nepal to international markets, especially in India, and facilitate the arrivals of tourists to the region of Pokhara and its hinterland.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:8.0pt"><span style="font-family:"Segoe UI","sans-serif"">ADB further said that Nepal’s economic growth improved to 7.3 percent a year on average between fiscal years (FY) 2017 and 2019, compared with about 3.3 percent in the previous three years. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:8.0pt"><span style="font-family:"Segoe UI","sans-serif"">As a landlocked country, Nepal relies heavily on direct neighbors for international trade, mainly India, which traded 65 percent of Nepal’s imports and exports in FY2019, ADB said in a statement. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:8.0pt"><span style="font-family:"Segoe UI","sans-serif"">“While roads are the predominant mode of transport in Nepal for more than 90 percent of goods and passengers, the density and capacity of the road network remains low.”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:8.0pt"><span style="font-family:"Segoe UI","sans-serif"">This infrastructure deficiency, according to the ADB, hampers the economy, resulting in high operating costs and travel times, and impeding the development of competitive supply chains, tourism, and regional integration and trade.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:8.0pt"><span style="font-family:"Segoe UI","sans-serif"">The 200-kilometer (km) journey from Pokhara, a prime tourist destination at the foot of the Himalayas, to the Nepalese capital Kathmandu takes more than 5 hours by road. It is currently a two-lane highway that handles about 7,400 vehicles a day. As the number of vehicle registrations has been rising and total vehicles are expected to quadruple by 2029, upgrading national highways is a priority to support economic development, the statement added.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:8.0pt"><span style="font-family:"Segoe UI","sans-serif"">Under this project, 81 km of the road will be widened to four lanes from Pokhara to Abukhaireni to meet the increasing demand. Improvements will be made to the surfacing, structure, and drainage, with safety features such as crash barriers, and traffic and other warning light systems installed. A second 8-km section between Mugling and Abukhaireni will be considered for a subsequent project.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:8.0pt"><span style="font-family:"Segoe UI","sans-serif"">According to the ADB, the road will be divided by a median, while service lanes in urban areas will improve safety, especially for pedestrians, bicycles, and motorcycle users. This is especially important since the country suffers a high rate of almost 16 deaths per 100,000 people due to traffic accidents. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:8.0pt"><span style="font-family:"Segoe UI","sans-serif"">The total cost of the project is $254 million, of which the government will provide $59 million. The project is due for completion at the end of 2025.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:8.0pt"><span style="font-family:"Segoe UI","sans-serif"">Accompanying the loan is an ADB technical assistance grant of $500,000 to strengthen disaster risk reduction, landslide management, road safety, and procurement in the Ministry of Physical Infrastructure and Transport and Department of Roads.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:8.0pt"><span style="font-family:"Segoe UI","sans-serif""><img alt="" src="/app/webroot/userfiles/images/aaaa.jpg" style="height:600px; width:800px" /></span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2019-10-31', 'modified' => '2019-10-31', 'keywords' => '', 'description' => '', 'sortorder' => '11341', 'image' => '20191031112222_aaaaa8317 - Copy.jpg', 'article_date' => '2019-10-31 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 10 => array( 'Article' => array( 'id' => '11588', 'article_category_id' => '1', 'title' => 'Hotel Association of Nepal to Launch Concessional Packages for VNY 2020', 'sub_title' => '', 'summary' => 'October 31: Hotel Association of Nepal (HAN) is preparing to launch concessional package for the Visit Nepal 2020 campaign, which is just two months away.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 31: Hotel Association of Nepal (HAN) is preparing to launch concessional package for the Visit Nepal 2020 campaign, which is just two months away.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">HAN has instructed its members to announce packages offering discount to tourists during the Visit Nepal Year 2020. Around 2000 hotels, including 5-star hotels, are associated with HAN as its members.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">As per the announcement of HAN, its member hotels will provide the concessional package only to foreign tourists.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to HAN, its members will provide 30 percent discount on room charge and 15 percent on food and beverage.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">HAN’s President Srijana Rana said that the association is preparing to announce the package especially for the Visit Nepal 2020 campaign. Rana, who is also the executive director of 5-star Annapurna Hotel, said that the hospitality sector has an important role to make the Visit Nepal 2020 campaign a success.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“It is essential to bring concessional packages to attract tourists,” said Rana, adding that the hotel entrepreneurs are well aware of this fact.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">She further said that the private sector is ready to support the government to make the campaign a success. Rana suggested that the hotels should provide additional training to their staffers as the Visit Nepal Year 2020 draws closer.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“The standard of service that the Nepalese hotel industry provides is excellent. But this sector still requires more effort to improve the standard of service,” said Rana.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">She also said that the government should focus on connectivity and also ensure that there isn’t any further delay in upgrading road infrastructure as well as new airports.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Meanwhile, former president of HAN Amar Man Shakya said that the hotel industry is ready to serve the tourists but other infrastructures like roads are not satisfactory. He also said that the promotion for the campaign has not been much effective.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“Currently, the hotels in Nepal can accommodate not just 2 million tourists but 2.5 million visitors,” claimed Shakya, adding, “But the road network and other infrastructures in the country are in pathetic state.”</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">He said that the month of October is considered the ideal season for tourist arrival but there has been a slump in the number of tourists in Nepal during the peak season.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"> </span></span></p> ', 'published' => true, 'created' => '2019-10-31', 'modified' => '2019-10-31', 'keywords' => '', 'description' => '', 'sortorder' => '11340', 'image' => '20191031092022_20190628024129_Visit-nepal-2020.jpg', 'article_date' => '2019-10-31 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 11 => array( 'Article' => array( 'id' => '11590', 'article_category_id' => '1', 'title' => 'DoTM yet to Print Smart License Despite Procuring Mass Printer', 'sub_title' => '', 'summary' => 'October 31: The Department of Transport Management (DoTM) has failed to print smart license despite importing a mass printer more than two months ago. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 31: The Department of Transport Management (DoTM) has failed to print smart license despite importing a mass printer more than two months ago. The department had promised to solve the problem of issuing smart license by the time of Dashain, after purchasing the machine with the financial assistance of Asian Development Bank (ADB). However, it has failed to print the license with the help of the new machine.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The department had decided to procure the mass printer after it couldn’t deliver smart licenses on time with the help of nine small printers purchased from Madras Security Print.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The department claimed that the new mass printer can run for 24 hours a day and can print 500 smart licenses per hour.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">IT chief of DoTM Shree Chandra Shah attributed the delay to the need of testing the capacity of the new printer.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“We will first test the machine immediately after Tihar and then only bring it into operation,” said Shah.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The department also admitted that the lack of skilled manpower to operate the machine has also caused the inordinate delay in printing smart licenses.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"> </span></span></p> ', 'published' => true, 'created' => '2019-10-31', 'modified' => '2019-10-31', 'keywords' => '', 'description' => '', 'sortorder' => '11339', 'image' => '20191031104655_1572426091.jpg', 'article_date' => '2019-10-31 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 12 => array( 'Article' => array( 'id' => '11589', 'article_category_id' => '1', 'title' => 'Province 3 to Set Up its own Construction Company', 'sub_title' => '', 'summary' => 'October 31: Three months after the government registered its own construction company to undertake construction works on its own , Province 3 is planning to set up a similar company in the near future.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.5pt"><span style="font-family:"arial sans-serif","serif"">October 31: Three months after the government registered its own construction company to undertake construction works on its own , Province 3 is planning to set up a similar company in the near future. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.5pt"><span style="font-family:"arial sans-serif","serif"">The provincial government decided to establish its own construction company to address the problems like delay in infrastructure development and sub-standard works. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.5pt"><span style="font-family:"arial sans-serif","serif"">Chief Minister of Province 3 Dormani Poudel said that the council of ministers has already given the nod to the provincial government to move ahead with the process of establishing its own company.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.5pt"><span style="font-family:"arial sans-serif","serif"">According to the chief minister, the first meeting of the Provincial Development Council will begin the process of setting up the company.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.5pt"><span style="font-family:"arial sans-serif","serif"">Poudel argued that there will not be any hindrance in opening such company as the federal government has already set a precedent by formulating necessary laws in this regard.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.5pt"><span style="font-family:"arial sans-serif","serif"">Chief Minister Poudel clarified that the proposed company will not be competing with private companies but will support the provincial government to expedite the projects.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.5pt"><span style="font-family:"arial sans-serif","serif"">Earlier in July, the central government had registered its own construction company with an issued capital of Rs 3 billion.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2019-10-31', 'modified' => '2019-10-31', 'keywords' => '', 'description' => '', 'sortorder' => '11338', 'image' => '20191031102427_New province 3.jpg', 'article_date' => '2019-10-31 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 13 => array( 'Article' => array( 'id' => '11587', 'article_category_id' => '1', 'title' => 'Central Bank to Direct BFIs to Purchase Cyber Security Insurance Policy', 'sub_title' => '', 'summary' => 'October 30: Nepal Rastra Bank is preparing to instruct banks and financial institutions to purchase cyber security insurance policy. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">October 30: Nepal Rastra Bank is preparing to instruct banks and financial institutions to purchase cyber security insurance policy. Nepal has insurance policy on cyber security but none of the banks have purchased such policy. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Nepal Insurance Company has introduced Cyber Risk Protector policy from the last fiscal year. However, banks have not paid any attention to the policy despite considerable risk. It has been learnt that BFIs have not shown interest to purchase cyber security insurance policy as such policies are expensive as compared to other insurance policies.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Sources at Nepal Rastra Bank said that the central bank is currently studying this issue. After formulating necessary policies, the central bank is planning to issue the directive to make it mandatory for BFIs to purchase cyber security insurance policy within the current fiscal year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">At present, BFIs have been insuring their property through blanket insurance. However, this insurance policy doesn’t cover cyber security risk.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">A committee formed to probe the ATM hacking of August 31 by some Chinese nationals in Kathmandu has also recommended the central bank to introduce guidelines to make it mandatory for BFIs to purchase cyber security insurance policy.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">NRB Spokesperson confirmed that the central bank is currently studying the issue and will instrduce the directive soon.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">A group of Chinese hackers had illegally withdrawn more than Rs 30 million from different ATMs in the capital as well as from India using cards issued by Nepali banks on August 31.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Nepal is likely to recover the amount confiscated from six Chinese nationals and operators of two money exchange centres arrested in connection with the case but the amount withdrawn from India is unlikely to be recovered.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, 12 Nepalis were also arrested about a month ago for withdrawing more than Rs 47 million using the username and password of staffers of Agriculture Development Bank. The group was reportedly operating under the instructions of an African named Peter, who allegedly resides in Mumbai. Police have recovered Rs 4 million in this case.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Following these incidents, the central bank has pressed for cyber security insurance.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2019-10-30', 'modified' => '2019-10-30', 'keywords' => '', 'description' => '', 'sortorder' => '11337', 'image' => '20191030012457_1572136597.jpg', 'article_date' => '2019-10-30 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 14 => array( 'Article' => array( 'id' => '11586', 'article_category_id' => '266', 'title' => 'Ncell’s offers Four Times more 4G Data Bonus during Tihar ', 'sub_title' => '', 'summary' => 'October 25: Ncell, on the occasion of Tihar and Chhath, has launched 4G data bonus offer enabling customers to take benefit from four times more 4G data. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">October 25: Ncell, on the occasion of Tihar and Chhath, has launched 4G data bonus offer enabling customers to take benefit from four times more 4G data. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">The offer has come into effect from Thursday (October 24) and will remain in place for 15 days. Under this festive scheme, customers buying 75 MB data pack with validity of one day and 500 MB data pack which comes with seven-day validity will enjoy four times more 4G data as bonus.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">Subscribers who activate 75 MB data at Rs 15 (Rs 19.15 including taxes) get additional 225 MB data applicable in 4G network. This means, customers get total 300 MB data at just Rs 15. Similarly, customers activating 500 MB data priced at Rs 75 (Rs 95.77 including taxes) get total 2000 MB data including additional 1500 MB 4G data as bonus. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">To get benefited from this offer, customers can simply dial *17123*44# or they can activate the offer even through Ncell App. 4G bonus data can be used in 4G network coverage area with 4G compatible handset and USIM.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">Ncell believes that the additional 4G data bonus will ensure extra value to customers, allowing them to remain online, connected with friends and family members to share festive excitements.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">Customers can visit nearest Ncell Centre and upgrade their SIM card to USIM for just Re 1. Once customers change or update SIM card to USIM, they also get additional 1GB data valid for seven days for free. This data can be used during day time (5AM to 5 PM). After getting USIM, customers can dial *324# and start enjoying 4G service.</span></span></span></span></p> ', 'published' => true, 'created' => '2019-10-25', 'modified' => '2019-10-25', 'keywords' => '', 'description' => '', 'sortorder' => '11336', 'image' => '20191025035430_20191003115711_aaaaf.jpg', 'article_date' => '2019-10-25 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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', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 3: Any individual purchasing home or apartment for the first time will now be able to get loan up to 70 percent from banks and financial institutions (BFIs). Prior to this, BFIs had been funding 50 percent of the total cost within the Kathmandu Valley and 60 percent outside the valley.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Nepal Rastra Bank introduced this new policy by amending the Unified Directives on Friday, November 1. As per the revised policy, borrowers can acquire up to Rs 15 million from banks.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The central bank has stated that in order to acquire such loan, the borrower must have to purchase a residential area of 3000 square feet and the housing must be purchased for personal use.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Before providing such loan, BFIs must ascertain that the borrower has not taken such type of loan before. The central bank has also instructed not to increase the installment amount in case the interest rate increases.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Although this new provision has provided some relief for those aspiring to purchase apartments at a time when the central bank has tightened its screws on lending in the housing sector, CEO of Sanima Bank Bhuvan Dahal says there are some ambiguities in this new policy.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“This provision is overall good. But the central bank does not have clear policy regarding the individuals who had taken such loans and cleared all the dues,” said Dahal.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Dahal further said that the BFIs do not have records of such individuals.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“This will complicate things for us,” he added.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Likewise, the central bank as also introduced a policy to stabilize the rate of interest. As per the new policy, a mutual understanding can be reached between the lender and the borrower for a fixed rate of interest if the loan is provided for a period of more than a year.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">BFIs cannot increase the rate of interest whatever might be the situation. However, such rate of interest will be more than the normal rate, according to BFIs.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2019-11-03', 'modified' => '2019-11-03', 'keywords' => '', 'description' => '', 'sortorder' => '11350', 'image' => '20191103105307_1572751033.jpg', 'article_date' => '2019-11-03 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 1 => array( 'Article' => array( 'id' => '11598', 'article_category_id' => '1', 'title' => 'World Bank Executive Directors Visit Nepal, Discuss Federalism, Diversified Investment', 'sub_title' => '', 'summary' => 'November 3: An eleven-member delegation of the World Bank Group Executive Directors (EDs) visited Nepal from October 29 to November 1, to gain a comprehensive view of Nepal’s current development status and opportunities.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">November 3: An eleven-member delegation of the World Bank Group Executive Directors (EDs) visited Nepal from October 29 to November 1, to gain a comprehensive view of Nepal’s current development status and opportunities. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">According to the World Bank, the visit marked the 50th year of World Bank Group-Nepal engagement, with the first World Bank credit in Nepal approved by the board on November 4, 1969.The trip was part of a larger visit to the South Asia Region that will also include Bangladesh and the Maldives, World Bank said in a statement.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">During their visit, the EDs met with representatives from federal and local governments, the private sector, development partners, and civil society. Discussions centered around Nepal’s transition to federalism, the need to invest in the country’s human capital, crowding in the private sector for diversified investment, the pace of reconstruction after the earthquakes in 2015, and the creation of jobs, especially for Nepal’s youth.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">“Nepal has made progress in reduction of poverty and its stable government signals a smoother transition to the federal structure,” the statement quoted Jorge Chavez Presa, spokesperson of the delegation as saying. “However, to ensure stronger and more sustained growth, it needs rapid strengthening of institutions and systems. The World Bank Group is committed to help the Government of Nepal achieve its ambitious goals for the benefit of all Nepalis.”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The EDs’ conversations with Finance Minister Dr Yuba Raj Khatiwada focused on leveraging World Bank Group-wide support for the federalism agenda, maximizing finance for development, and investing in health and education for the people of Nepal, the statement further said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">During the visit to an earthquake reconstruction site in Patlekhet of Kavrepalanchowk, the EDs learnt about the reconstruction program that supported rebuilding of more than 430,000 houses after the devastating earthquakes.The Government of Nepal’s larger rural housing reconstruction program aims to provide earthquake-resistant housing for around 700,000 beneficiaries. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">To further understand investment scenarios and discuss ways for diversifying investment, the EDs met entrepreneurs and private sector representatives. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The World Bank Group said it has a strong partnership with Nepal, with 50 years of engagement since 1969. The current investment portfolio cuts across all key sectors in 25 projects and has a net commitment of $2.47 billion (as of September 2019).</span></span></span></span></p> ', 'published' => true, 'created' => '2019-11-03', 'modified' => '2019-11-03', 'keywords' => '', 'description' => '', 'sortorder' => '11349', 'image' => '20191103095805_aaaa.jpg', 'article_date' => '2019-11-03 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 2 => array( 'Article' => array( 'id' => '11597', 'article_category_id' => '1', 'title' => 'Palm Oil Increases Overall Export of Nepal', 'sub_title' => '', 'summary' => 'November 3: The rise in export of palm oil and soybean oil has increased the overall export of Nepal by 15 percent. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 3: </span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The rise in export of palm oil and soybean oil has increased the overall export of Nepal by 15 percent. Palm and soybean oils are not produced in Nepal but have become a major export products in the recent days. The total export of Nepal in the first three months of the current fiscal year 2019/20 has reached 27.16 billion. This is not a result of increased production within the country but due to the export of palm and soybean oils, which are first imported in crude form, then processed and exported mainly to India.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Palm oil and soybean oil make up 27 percent of the total export during the review period. During this period, palm and soybean oils worth Rs 7.26 billion were exported from Nepal. If these two products are excluded, Nepal’s export in the first three months of current FY will be around Rs 20 billion, which is Rs 3 billion less compared to the same period of last fiscal year.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">This clearly shows that the government’s initiative to promote domestic products in the international market has been ineffective as the increase in export of Nepal is basically due to the export of palm and soybean oils that are first imported and then repackaged and exported to India.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to the Department of Customs, Nepal exported palm oil worth Rs 5.78 billion and soybean oil worth Rs 1.48 billion during the review period. In the meantime, Nepal imported palm oil worth Rs 5.54 billion and soybean oil worth Rs 4 billion, records maintained by the department have revealed.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The massive surge in import and export of palm oil in the recent time is attributed to the low import duty on the product in Nepal compared to India. The local businessmen are taking advantage of this gap in tariff imposed by the two countries. Nepal imposes 10 percent customs duty on import of palm oil while India imposes 40 percent customs duty for the same product.</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"">India, which is one of the largest importers of palm oil in the world, had increased customs duty on crude palm oil imported from Association of Southeast Asian Nations (ASEAN) by $5 and refined palm oil by $9.</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"">This has directly benefitted the local businessmen of Nepal where there is lower customs duty for import of palm oil. </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"">Nepali businessmen import crude palm oil from Indonesia, Malaysia, Brazil, Ukraine, Thailand and Argentina and export refined palm oil to India.</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"">“Nepali exporters have been benefitting from the low customs duty for agricultural product that the Indian government has given to Nepal,” said Anand Bagaria, a local businessman.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“Bangladesh and Sri Lanka are also doing the same,” he added.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2019-11-03', 'modified' => '2019-11-03', 'keywords' => '', 'description' => '', 'sortorder' => '11348', 'image' => '20191103092810_20190807121918_Clipboard01.jpg', 'article_date' => '2019-11-03 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 3 => array( 'Article' => array( 'id' => '11599', 'article_category_id' => '1', 'title' => 'Himalaya Airlines Connects Kathmandu and Beijing with Direct Flights', 'sub_title' => '', 'summary' => 'November 3: Himalaya Airlines, a Nepal-China joint venture airline operating internationally, is gearing up to meet the demand for travelers to and from China this winter, by introducing its latest flights from Kathmandu to Beijing.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Georgia","serif"">November 3: Himalaya Airlines, a Nepal-China joint venture airline operating internationally, is gearing up to meet the demand for travelers to and from China this winter, by introducing its latest flights from Kathmandu to Beijing.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Georgia","serif"">The airline which launched its maiden flight between Kathmandu and Beijing on October 27, establishing the historical direct connectivity between the capital cities of the two countries, has announced thrice weekly flight schedule.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Georgia","serif"">The new flight, according to the airliner company, is the latest move in Himalaya Airlines’ business strategy of network expansion to boost Nepal’s connectivity with China, which is an important trade partner for Nepal besides being the second largest market for tourists in Nepal. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Georgia","serif"">In recent years, the demand for seats has grown exponentially amongst both business and leisure passengers, not only increasing tourism traffic and revenue but also promoting vital trade agreements between the two countries, Himalaya Airlines said in a statement.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Georgia","serif"">“This growth in Airlines’ network follows the revised Air Services Agreement between the Government of Nepal and China in July 2019,which opened up five new points in China for the Nepali airline companies for 2019 and three more for the year 2020,” the statement said.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">Minister for </span></span><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">Culture, Tourism and Civil Aviation </span></span><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">YogeshBhattarai</span></span><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">, Chinese Ambassador to Nepal </span></span><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">Hou Yanqi</span></span><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">, along with high ranking officials from CAANand TIA were present at the pre-departure function of the inaugural flight at the Radisson Airport Restaurant.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">Minister Bhattarai congratulated Himalaya Airlines for this important connectivity with China which will contribute to the targeted tourist arrivals of 500,000 Chinese travellers for VNY 2020.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">Wishing for the successful operation of this direct connectivity, Chinese Ambassador Hou stated, “<em>Nepal is an important international tourist destination and among the South Asian countries it is also the first choice to travel for Chinese tourists.</em>”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">The inaugural flight departed from Tribhuvan International Airport (TIA) on October 27 at 08:30 hours and touched down at Beijing’s Daxing International Airport (PKX) at 16:10 hours. The return flight from Beijing took place on the same day at 17:40 hours and arrived in Kathmandu at 21:45 hours. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Georgia","serif"">The airline operates a fleet of three A320 Airbus with its scheduled service to Doha Abu Dhabi, Dammam and Dhaka. In addition, the airline has already announced its plan to increase its fleet with introduction of two A319 aircraft by the end of 2019/beginning of 2020. With this service, </span><span style="font-family:"Georgia","serif"">Himalaya Airlines has become the only Nepali airline to operate direct flights between the capitals of both the countries.<strong> </strong></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2019-11-03', 'modified' => '2019-11-03', 'keywords' => '', 'description' => '', 'sortorder' => '11347', 'image' => '20191103102012_Beijing (2).jpg', 'article_date' => '2019-11-03 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 4 => array( 'Article' => array( 'id' => '11596', 'article_category_id' => '1', 'title' => 'High Entry Fee Hindering Tourism in Upper Mustang', 'sub_title' => '', 'summary' => 'November 1: Road condition and high entry fee to Upper Mustang have posed a challenge to the tourism industry of this region. ', 'content' => '<p><span style="font-size:14px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">November 1: Road condition and high entry fee to Upper Mustang have posed a challenge to the tourism industry of this region. Although the country is gearing up for the Visit Nepal 2020 campaign, the number of visitors in Upper Mustang has not been able to increase, reported Rastriya Samachar Samitee (RSS).</span></span></span></p> <p><span style="font-size:14px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">According to the state-owned news agency, the locals have demanded operation of alternative trekking routes, publicity and reduction in entry fee to promote tourism in the highlands of Upper Mustang. </span></span></span></p> <p><span style="font-size:14px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">Foreign tourists have to form a group of at least two persons and pay US$ 500 to the Department of Immigration for a ten-day visit to Lo Manthang and Damodar Kunda in Upper Mustang. If the visitors say there for more than ten days, they need to furnish proper explanation and pay and additional US$ 50 per day, according to RSS.</span></span></span></p> <p><span style="font-size:14px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">Although tourism entrepreneurs have spent millions of rupees to set up well-facilitated hotels in this remote region, the high charge and lengthy process have endangered the tourism business in this area renowned for its natural landscape and beauty, says Ram Bahadur Gurung, a local hotel entrepreneur.</span></span></span></p> <p><span style="font-size:14px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">Altogether 50 resorts, hotels and lodges which can accommodate up to 500 tourists are in operation in Upper Mustang. The cost of establishing the hotels in this remote area is estimated to be between Rs 3 million to Rs 200 million. New hotels are being constructed. The number of domestic tourists rises during holidays and festivals but this trend is not regular.</span></span></span></p> <p><span style="font-size:14px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">The number of foreign tourists visiting Upper Mustang in 2016, 2017 and 2018 was respectively 3,918; 4,015 and 3,946, according to Annapurna Conservation Area Project (ACAP). The number of visitors this year is similar to last year, RSS reported.</span></span></span></p> <p><span style="font-size:14px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">Upper Mustang was opened for tourists for the first time in 1992, during which 483 visitors trekked to the region. The number of foreign tourists was around 800 annually until 2007 when the entry charge was US$ 70. According to RSS, the number of foreign visitors increased after the entry fee was reduced.</span></span></span></p> <p><span style="font-size:14px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">The major attractions of this place include artistic hills, desert landscape, houses made of mud, Himalayan lifestyle, old Tibetan culture, palaces of historic importance, caves, monasteries and Korala border.</span></span></span></p> <p><span style="font-size:14px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif""><img alt="" src="/app/webroot/userfiles/images/20181023011412_kagbeni%20fapar.jpg" style="height:500px; width:667px" /></span></span></span></p> <p> </p> <p><span style="font-size:14px"><span style="font-family:"Times New Roman",serif"> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2019-11-01', 'modified' => '2019-11-01', 'keywords' => '', 'description' => '', 'sortorder' => '11346', 'image' => '20191101104401_20181214124012_Upper Mustang.jpg', 'article_date' => '2019-11-01 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 5 => array( 'Article' => array( 'id' => '11593', 'article_category_id' => '1', 'title' => 'Doing Business Report did not Incorporate all Reforms Initiated by Nepal: Finance Minister', 'sub_title' => '', 'summary' => 'November 1: Finance Minister Dr Yuba Raj Khatiwada has said that all the reforms initiated by the government to facilitate business in the country have not been incorporated in the Ease of Doing Business Report published recently by the World Bank.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">November 1: Finance Minister Dr Yuba Raj Khatiwada has said that all the reforms initiated by the government to facilitate business in the country have not been incorporated in the Ease of Doing Business Report published recently by the World Bank.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">The finance minister made such remarks on Thursday during a meeting with a delegation of high-ranking officials of the World Bank, who are in a visit to Nepal.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">Nepal has climbed 16 spots in the Doing Business Index of the World Bank. Nepal, which was in the 110<sup>th</sup> position last year, jumped to the 94<sup>th</sup> position this year. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">Government officials say that Nepal leapfrogged in the Doing Business Index due to the policy-level reforms in creating a conducive environment for business. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">In his meeting with the World Bank officials, Minister Khatiwada expressed his belief that the reforms made by Nepal would be included in the next report of the World Bank and Nepal would rise further in the index. Minister Khatiwada claimed that Nepal would climb to the 80<sup>th</sup> position of Doing Business Index next year.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">The recent World Bank report states that Nepal made improvements in five out of 10 areas measured in the report.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">The report further says Nepal made the progress despite increasing the cost to do business by hiking up the registration fee to transfer properties. Nepal made starting a business more difficult by requiring in-person follow-up for employee registration for social security.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt"><img alt="" src="/app/webroot/userfiles/images/20191024114321_Doing%20Business.jpg" style="height:600px; width:800px" /></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"> </span></span></p> ', 'published' => true, 'created' => '2019-11-01', 'modified' => '2019-11-01', 'keywords' => '', 'description' => '', 'sortorder' => '11345', 'image' => '20191101092421_aaaa.jpg', 'article_date' => '2019-11-01 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 6 => array( 'Article' => array( 'id' => '11595', 'article_category_id' => '1', 'title' => 'World Bank Pledges Rs 20 Billion for Upgrading Roads: Finance Ministry', 'sub_title' => '', 'summary' => 'November 1: The World Bank has pledged a loan of Rs 20 billion to Nepal for road upgrading projects.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 1: The World Bank has pledged a loan of Rs 20 billion to Nepal for road upgrading projects.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The loan assistance for Nagdhunga-Mugling road upgrading project and Dhalkebar-Pathlaiya road section of the East-West Highway is in the final phase of agreement, according to government officials.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Ministry of Finance has confirmed that the World Bank will be providing Rs 20 billion loan for these two projects.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The government had some years ago decided to upgrade the East-West Highway into four lanes. The Asian Development Bank has already initiated the process to support upgrading Narayanghad-Butwal section of the East-West Highway while the World Bank has pledged to support the Dhalkebar-Pathlaiya section.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">A highly-placed source at the Ministry of Finance told New Business Age that the government is preparing to sign an agreement with the World Bank within a month to seek support to upgrade the Nagdhunga-Mugling road section. The upgrading works will begin from January, according to the source.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Department of Roads is preparing to issue a tender after the agreement within a month, the source added. The government intends to complete upgrading the 93-kilometre road within three years.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The department said that they will adopt a new approach to lessen traffic congestion in this road section. Vehicles have been stuck in traffic jam in Nagdhunga area due to the use of heavy cargo vehicles along this route. The road section is narrow and inclined, leading to traffic congestion in case any vehicle breaks down.</span></span></p> ', 'published' => true, 'created' => '2019-11-01', 'modified' => '2019-11-01', 'keywords' => '', 'description' => '', 'sortorder' => '11344', 'image' => '20191101095935_aaa.jpg', 'article_date' => '2019-11-01 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 7 => array( 'Article' => array( 'id' => '11594', 'article_category_id' => '1', 'title' => 'PM Oli Discharged from Hospital', 'sub_title' => '', 'summary' => 'November 1: Prime Minister KP Sharma Oli has been discharged from hospital on Thursday. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">November 1: Prime Minister KP Sharma Oli has been discharged from hospital on Thursday. He was admitted to Grande International Hospital on Wednesday after complaining of health problems.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">While leaving the hospital on Thursday evening, PM Oli said that he was “fine”.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The prime minister received hemodialysis twice during his stay at the hospital.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Although the prime minister’s secretariat said it was a regular check-up, it has been widely reported that PM Oli had to undergo an emergency dialysis on Wednesday.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Grande’s Director Dr Chakra Raj Pandey said that the level of creatinine in Oli’s blood was high while he was admitted to the hospital but the level is normal after treatment.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“The prime minister’s health condition was good and now it has become better after treatment,” said Pandey.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">He declined to divulge further details saying that although Oli holds a public post an individual patient has the right to privacy.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">PM Oli has been undergoing regular check-up after his kidney transplant 12 years ago. Doctors have advised him to take plenty of rest.</span></span></p> ', 'published' => true, 'created' => '2019-11-01', 'modified' => '2019-11-01', 'keywords' => '', 'description' => '', 'sortorder' => '11343', 'image' => '20191101093923_20190214013326_maxresdefault.jpg', 'article_date' => '2019-11-01 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 8 => array( 'Article' => array( 'id' => '11592', 'article_category_id' => '1', 'title' => 'NAC Preparing to Operate Flights to Japan’s Narita from upcoming January', 'sub_title' => '', 'summary' => 'October 31: Nepal Airlines Corporation is preparing to operate flights to Narita of Japan after suffering a setback in its newly re-launched flights to Osaka. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:10.0pt"><span style="font-family:"Arial","sans-serif"">October 31: Nepal Airlines Corporation is preparing to operate flights to Narita of Japan after suffering a setback in its newly re-launched flights to Osaka. The state-owned airlines company of Nepal is preparing to operate flights to Narita from January 2020.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:10.0pt"><span style="font-family:"Arial","sans-serif"">NAC, which has been operating flights to Osaka since August 29, has not found enough passengers along the route. Initially, NAC had scheduled to operate three flights a week to Osaka on Tuesdays, Thursdays and Saturdays. But due to the lack of passengers, NAC reduced the number of flights to two per week – on Tuesdays and Saturdays. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:10.0pt"><span style="font-family:"Arial","sans-serif"">Although the number of passengers to Osaka is steadily increasing, NAC Executive Director Madan Kharel believes that operating flights to Narita would be beneficial in the long run.</span></span></span></span></p> <p> </p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:10.0pt"><span style="font-family:"Arial","sans-serif"">From commercial point of view, Narita has better prospects for Nepal than Osaka. But Kharel said they had to opt for Osaka in the first place due to some technical issues. He said that the flag carrier of Nepal has completed all the procedures and has sought permission to operate flights to Narita. NAC will be operating flights to Narita by the time the Visit Nepal 2020 campaign kicks off, provided that Japanese authorities grant them permission to operate flights to Narita.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:10.0pt"><span style="font-family:"Arial","sans-serif"">“We wanted to operate flights to Narita before Osaka but there were some technical issues. Now that we have already provided the required documents to Japan’s civil aviation authority, we will begin flights as soon as we get the permission,” said Kharel.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:10.0pt"><span style="font-family:"Arial","sans-serif"">NAC is mulling to stop flights to Osaka once they get permission to fly to Narita.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:10.0pt"><span style="font-family:"Arial","sans-serif"">NAC had been operating flights to Osaka from 1994 till 2007, after which it stopped the flights citing lack of aircraft. NAC re-launched flights to Osaka this year after purchasing two wide-body aircraft of Airbus.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:10.0pt"><span style="font-family:"Arial","sans-serif"">Back in the 90s and 2000s, NAC used to operate flights to Osaka via Shanghai. But at present, it has been running direct flights to Osaka.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2019-10-31', 'modified' => '2019-10-31', 'keywords' => '', 'description' => '', 'sortorder' => '11342', 'image' => '20191031120033_1572142676.jpg', 'article_date' => '2019-10-31 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 9 => array( 'Article' => array( 'id' => '11591', 'article_category_id' => '1', 'title' => 'Pokhara-Mugling Highway to be Upgraded to Four Lanes with Support from ADB', 'sub_title' => 'Upgrading Highway will Reduce Travel Time to Kathmandu and Subregional Trade Corridors', 'summary' => 'October 31: The Asian Development Bank (ADB) has approved a loan of $195 million to improve the highway section between Pokhara and Mugling, which links Pokhara to Kathmandu and to subregional corridors connecting Nepal with India and Bangladesh.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:8.0pt"><span style="font-family:"Segoe UI","sans-serif"">October 31: The Asian Development Bank (ADB) has approved a loan of $195 million to improve the highway section between Pokhara and Mugling, which links Pokhara to Kathmandu and to subregional corridors connecting Nepal with India and Bangladesh.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:8.0pt"><span style="font-family:"Segoe UI","sans-serif"">The highway will be widened to four lanes, and this will reduce travel times, lower transportation cost, and improve access to domestic markets, jobs, and social services, the ADB wrote on its website on Wednesday. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:8.0pt"><span style="font-family:"Segoe UI","sans-serif"">“The project will boost the traffic capacity, reliability, and safety of the main road link from Pokhara,” ADB quoted its Transport Specialist Johan Georget as saying. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:8.0pt"><span style="font-family:"Segoe UI","sans-serif"">According to Georget, the upgraded highway will also open a wider gateway for Nepal to international markets, especially in India, and facilitate the arrivals of tourists to the region of Pokhara and its hinterland.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:8.0pt"><span style="font-family:"Segoe UI","sans-serif"">ADB further said that Nepal’s economic growth improved to 7.3 percent a year on average between fiscal years (FY) 2017 and 2019, compared with about 3.3 percent in the previous three years. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:8.0pt"><span style="font-family:"Segoe UI","sans-serif"">As a landlocked country, Nepal relies heavily on direct neighbors for international trade, mainly India, which traded 65 percent of Nepal’s imports and exports in FY2019, ADB said in a statement. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:8.0pt"><span style="font-family:"Segoe UI","sans-serif"">“While roads are the predominant mode of transport in Nepal for more than 90 percent of goods and passengers, the density and capacity of the road network remains low.”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:8.0pt"><span style="font-family:"Segoe UI","sans-serif"">This infrastructure deficiency, according to the ADB, hampers the economy, resulting in high operating costs and travel times, and impeding the development of competitive supply chains, tourism, and regional integration and trade.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:8.0pt"><span style="font-family:"Segoe UI","sans-serif"">The 200-kilometer (km) journey from Pokhara, a prime tourist destination at the foot of the Himalayas, to the Nepalese capital Kathmandu takes more than 5 hours by road. It is currently a two-lane highway that handles about 7,400 vehicles a day. As the number of vehicle registrations has been rising and total vehicles are expected to quadruple by 2029, upgrading national highways is a priority to support economic development, the statement added.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:8.0pt"><span style="font-family:"Segoe UI","sans-serif"">Under this project, 81 km of the road will be widened to four lanes from Pokhara to Abukhaireni to meet the increasing demand. Improvements will be made to the surfacing, structure, and drainage, with safety features such as crash barriers, and traffic and other warning light systems installed. A second 8-km section between Mugling and Abukhaireni will be considered for a subsequent project.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:8.0pt"><span style="font-family:"Segoe UI","sans-serif"">According to the ADB, the road will be divided by a median, while service lanes in urban areas will improve safety, especially for pedestrians, bicycles, and motorcycle users. This is especially important since the country suffers a high rate of almost 16 deaths per 100,000 people due to traffic accidents. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:8.0pt"><span style="font-family:"Segoe UI","sans-serif"">The total cost of the project is $254 million, of which the government will provide $59 million. The project is due for completion at the end of 2025.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:8.0pt"><span style="font-family:"Segoe UI","sans-serif"">Accompanying the loan is an ADB technical assistance grant of $500,000 to strengthen disaster risk reduction, landslide management, road safety, and procurement in the Ministry of Physical Infrastructure and Transport and Department of Roads.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:8.0pt"><span style="font-family:"Segoe UI","sans-serif""><img alt="" src="/app/webroot/userfiles/images/aaaa.jpg" style="height:600px; width:800px" /></span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2019-10-31', 'modified' => '2019-10-31', 'keywords' => '', 'description' => '', 'sortorder' => '11341', 'image' => '20191031112222_aaaaa8317 - Copy.jpg', 'article_date' => '2019-10-31 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 10 => array( 'Article' => array( 'id' => '11588', 'article_category_id' => '1', 'title' => 'Hotel Association of Nepal to Launch Concessional Packages for VNY 2020', 'sub_title' => '', 'summary' => 'October 31: Hotel Association of Nepal (HAN) is preparing to launch concessional package for the Visit Nepal 2020 campaign, which is just two months away.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 31: Hotel Association of Nepal (HAN) is preparing to launch concessional package for the Visit Nepal 2020 campaign, which is just two months away.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">HAN has instructed its members to announce packages offering discount to tourists during the Visit Nepal Year 2020. Around 2000 hotels, including 5-star hotels, are associated with HAN as its members.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">As per the announcement of HAN, its member hotels will provide the concessional package only to foreign tourists.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to HAN, its members will provide 30 percent discount on room charge and 15 percent on food and beverage.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">HAN’s President Srijana Rana said that the association is preparing to announce the package especially for the Visit Nepal 2020 campaign. Rana, who is also the executive director of 5-star Annapurna Hotel, said that the hospitality sector has an important role to make the Visit Nepal 2020 campaign a success.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“It is essential to bring concessional packages to attract tourists,” said Rana, adding that the hotel entrepreneurs are well aware of this fact.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">She further said that the private sector is ready to support the government to make the campaign a success. Rana suggested that the hotels should provide additional training to their staffers as the Visit Nepal Year 2020 draws closer.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“The standard of service that the Nepalese hotel industry provides is excellent. But this sector still requires more effort to improve the standard of service,” said Rana.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">She also said that the government should focus on connectivity and also ensure that there isn’t any further delay in upgrading road infrastructure as well as new airports.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Meanwhile, former president of HAN Amar Man Shakya said that the hotel industry is ready to serve the tourists but other infrastructures like roads are not satisfactory. He also said that the promotion for the campaign has not been much effective.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“Currently, the hotels in Nepal can accommodate not just 2 million tourists but 2.5 million visitors,” claimed Shakya, adding, “But the road network and other infrastructures in the country are in pathetic state.”</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">He said that the month of October is considered the ideal season for tourist arrival but there has been a slump in the number of tourists in Nepal during the peak season.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"> </span></span></p> ', 'published' => true, 'created' => '2019-10-31', 'modified' => '2019-10-31', 'keywords' => '', 'description' => '', 'sortorder' => '11340', 'image' => '20191031092022_20190628024129_Visit-nepal-2020.jpg', 'article_date' => '2019-10-31 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 11 => array( 'Article' => array( 'id' => '11590', 'article_category_id' => '1', 'title' => 'DoTM yet to Print Smart License Despite Procuring Mass Printer', 'sub_title' => '', 'summary' => 'October 31: The Department of Transport Management (DoTM) has failed to print smart license despite importing a mass printer more than two months ago. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 31: The Department of Transport Management (DoTM) has failed to print smart license despite importing a mass printer more than two months ago. The department had promised to solve the problem of issuing smart license by the time of Dashain, after purchasing the machine with the financial assistance of Asian Development Bank (ADB). However, it has failed to print the license with the help of the new machine.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The department had decided to procure the mass printer after it couldn’t deliver smart licenses on time with the help of nine small printers purchased from Madras Security Print.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The department claimed that the new mass printer can run for 24 hours a day and can print 500 smart licenses per hour.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">IT chief of DoTM Shree Chandra Shah attributed the delay to the need of testing the capacity of the new printer.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“We will first test the machine immediately after Tihar and then only bring it into operation,” said Shah.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The department also admitted that the lack of skilled manpower to operate the machine has also caused the inordinate delay in printing smart licenses.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"> </span></span></p> ', 'published' => true, 'created' => '2019-10-31', 'modified' => '2019-10-31', 'keywords' => '', 'description' => '', 'sortorder' => '11339', 'image' => '20191031104655_1572426091.jpg', 'article_date' => '2019-10-31 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 12 => array( 'Article' => array( 'id' => '11589', 'article_category_id' => '1', 'title' => 'Province 3 to Set Up its own Construction Company', 'sub_title' => '', 'summary' => 'October 31: Three months after the government registered its own construction company to undertake construction works on its own , Province 3 is planning to set up a similar company in the near future.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.5pt"><span style="font-family:"arial sans-serif","serif"">October 31: Three months after the government registered its own construction company to undertake construction works on its own , Province 3 is planning to set up a similar company in the near future. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.5pt"><span style="font-family:"arial sans-serif","serif"">The provincial government decided to establish its own construction company to address the problems like delay in infrastructure development and sub-standard works. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.5pt"><span style="font-family:"arial sans-serif","serif"">Chief Minister of Province 3 Dormani Poudel said that the council of ministers has already given the nod to the provincial government to move ahead with the process of establishing its own company.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.5pt"><span style="font-family:"arial sans-serif","serif"">According to the chief minister, the first meeting of the Provincial Development Council will begin the process of setting up the company.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.5pt"><span style="font-family:"arial sans-serif","serif"">Poudel argued that there will not be any hindrance in opening such company as the federal government has already set a precedent by formulating necessary laws in this regard.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.5pt"><span style="font-family:"arial sans-serif","serif"">Chief Minister Poudel clarified that the proposed company will not be competing with private companies but will support the provincial government to expedite the projects.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.5pt"><span style="font-family:"arial sans-serif","serif"">Earlier in July, the central government had registered its own construction company with an issued capital of Rs 3 billion.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2019-10-31', 'modified' => '2019-10-31', 'keywords' => '', 'description' => '', 'sortorder' => '11338', 'image' => '20191031102427_New province 3.jpg', 'article_date' => '2019-10-31 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 13 => array( 'Article' => array( 'id' => '11587', 'article_category_id' => '1', 'title' => 'Central Bank to Direct BFIs to Purchase Cyber Security Insurance Policy', 'sub_title' => '', 'summary' => 'October 30: Nepal Rastra Bank is preparing to instruct banks and financial institutions to purchase cyber security insurance policy. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">October 30: Nepal Rastra Bank is preparing to instruct banks and financial institutions to purchase cyber security insurance policy. Nepal has insurance policy on cyber security but none of the banks have purchased such policy. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Nepal Insurance Company has introduced Cyber Risk Protector policy from the last fiscal year. However, banks have not paid any attention to the policy despite considerable risk. It has been learnt that BFIs have not shown interest to purchase cyber security insurance policy as such policies are expensive as compared to other insurance policies.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Sources at Nepal Rastra Bank said that the central bank is currently studying this issue. After formulating necessary policies, the central bank is planning to issue the directive to make it mandatory for BFIs to purchase cyber security insurance policy within the current fiscal year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">At present, BFIs have been insuring their property through blanket insurance. However, this insurance policy doesn’t cover cyber security risk.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">A committee formed to probe the ATM hacking of August 31 by some Chinese nationals in Kathmandu has also recommended the central bank to introduce guidelines to make it mandatory for BFIs to purchase cyber security insurance policy.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">NRB Spokesperson confirmed that the central bank is currently studying the issue and will instrduce the directive soon.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">A group of Chinese hackers had illegally withdrawn more than Rs 30 million from different ATMs in the capital as well as from India using cards issued by Nepali banks on August 31.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Nepal is likely to recover the amount confiscated from six Chinese nationals and operators of two money exchange centres arrested in connection with the case but the amount withdrawn from India is unlikely to be recovered.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, 12 Nepalis were also arrested about a month ago for withdrawing more than Rs 47 million using the username and password of staffers of Agriculture Development Bank. The group was reportedly operating under the instructions of an African named Peter, who allegedly resides in Mumbai. Police have recovered Rs 4 million in this case.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Following these incidents, the central bank has pressed for cyber security insurance.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2019-10-30', 'modified' => '2019-10-30', 'keywords' => '', 'description' => '', 'sortorder' => '11337', 'image' => '20191030012457_1572136597.jpg', 'article_date' => '2019-10-30 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 14 => array( 'Article' => array( 'id' => '11586', 'article_category_id' => '266', 'title' => 'Ncell’s offers Four Times more 4G Data Bonus during Tihar ', 'sub_title' => '', 'summary' => 'October 25: Ncell, on the occasion of Tihar and Chhath, has launched 4G data bonus offer enabling customers to take benefit from four times more 4G data. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">October 25: Ncell, on the occasion of Tihar and Chhath, has launched 4G data bonus offer enabling customers to take benefit from four times more 4G data. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">The offer has come into effect from Thursday (October 24) and will remain in place for 15 days. Under this festive scheme, customers buying 75 MB data pack with validity of one day and 500 MB data pack which comes with seven-day validity will enjoy four times more 4G data as bonus.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">Subscribers who activate 75 MB data at Rs 15 (Rs 19.15 including taxes) get additional 225 MB data applicable in 4G network. This means, customers get total 300 MB data at just Rs 15. Similarly, customers activating 500 MB data priced at Rs 75 (Rs 95.77 including taxes) get total 2000 MB data including additional 1500 MB 4G data as bonus. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">To get benefited from this offer, customers can simply dial *17123*44# or they can activate the offer even through Ncell App. 4G bonus data can be used in 4G network coverage area with 4G compatible handset and USIM.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">Ncell believes that the additional 4G data bonus will ensure extra value to customers, allowing them to remain online, connected with friends and family members to share festive excitements.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">Customers can visit nearest Ncell Centre and upgrade their SIM card to USIM for just Re 1. Once customers change or update SIM card to USIM, they also get additional 1GB data valid for seven days for free. This data can be used during day time (5AM to 5 PM). After getting USIM, customers can dial *324# and start enjoying 4G service.</span></span></span></span></p> ', 'published' => true, 'created' => '2019-10-25', 'modified' => '2019-10-25', 'keywords' => '', 'description' => '', 'sortorder' => '11336', 'image' => '20191025035430_20191003115711_aaaaf.jpg', 'article_date' => '2019-10-25 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
