CellPay starts Kiosk Stall Activation

Oct 25, 2019 0 53 seconds to read

October 25: CellPay, an NRB Licensed payment service provider has started its kiosk stall activation from October 25.…

Butwal Goes Green with Mahindra Electric Vehicles

Oct 25, 2019 0 1 minutes 13 seconds to read

October 25: Agni Energy Pvt Ltd, a subsidiary of Agni Group and the authorized distributor of Mahindra electric vehicles (EVs), has opened its new showroom of Mahindra electric vehicles at Tillotama, Jogikuti, Butwal on October…

Government Extends Deadline to get Listed in Social Security Scheme

Oct 25, 2019 0 2 minutes 2 seconds to read

October 25: The government has extended the deadline for private institutions to get enlisted in the Social Security Scheme, an ambitious project that ensures pension and other facilities to employees of the private sector after retirement. …

Jajarkot-Dolpa road to get Blacktopped

Oct 25, 2019 0 1 minutes 31 seconds to read

October 25: The 35-kilometre road section between Jajarkot and Dolpa is finally being…

CDC Invests Rs 1.35 Billion in Worldlink

Oct 25, 2019 0 45 seconds to read

October 25: The British government’s development finance group CDC has invested Rs 1.35 billion in Worldlink, a leading internet service provider in Nepal.…

Nepal-Bangladesh to Collaborate for Promotion of Transshipment and Connectivity

Oct 24, 2019 0 1 minutes 39 seconds to read

October 24: Nepal-Bangladesh Trade Talks concluded on Wednesday, October…

Nepal Leapfrogs 16 Spots in Doing Business Index

Oct 24, 2019 0 3 minutes 22 seconds to read

October 24: Nepal leapfrogged 16 spots in the Doing Business index of the World Bank as governments of 115 economies around the world launched 294 reforms over the past year…

IPPAN Power Summit in November

Oct 24, 2019 0 1 minutes 29 seconds to read

October 24: The Independent Power Producers Association Nepal (IPPAN) is all set to organize Power Summit 2019 in November.…

Remittance Slumps after 19 months

Oct 24, 2019 0 2 minutes 49 seconds to read

October 24: The inflow of remittance to Nepal has shrunk once again after 19 months.…

Concept of Flight School in Nepal in Limbo

Oct 23, 2019 0 2 minutes 52 seconds to read

October 23: The government’s plan to operate a flight school in Public Private Partnership (PPP) model for the generating human resource in the aviation sector is in limbo.…

Insurance Information Centre in the Offing

Oct 23, 2019 0 1 minutes 37 seconds to read

October 23: The Insurance Board Nepal is all set to establish Insurance Information Centre to curb fraudulent activities in the insurance sector.…

Nepal-Bangladesh Trade Talks Begin

Oct 23, 2019 0 3 minutes 6 seconds to read

October 23: The Nepali delegation in a meeting with Bangladesh on the topic of trade discussed the issue of reducing trade deficit with Bangladesh on Tuesday.…

Police to Present Report of ATM Hacking within 2 weeks

Oct 23, 2019 0 1 minutes 43 seconds to read

October 23: The Metropolitan Police Range, Teku is preparing to submit a report of the August 31 ATM hacking to the District Attorney’s Office within two…

Three New Int’l Airlines to Operate Flights to Nepal

Oct 23, 2019 0 2 minutes 58 seconds to read

October 23: With the Visit Nepal Year 2020 just around the corner, three new international airlines will be operating flights to Nepal soon.…

Finance Minister Urges Donor Organisations to Increase Investment

Oct 22, 2019 0 1 minutes 26 seconds to read

October 22: Finance minister Dr Yuba Raj Khatiwada has urged donor organisations to invest in hydropower, tourism, agriculture, urban infrastructure and other sectors of Nepal.…

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No Laughing Matter

The Sweet Rewards of Power

By Madan Lamsal

. . .
read more »

NEPSE

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			'id' => '11585',
			'article_category_id' => '266',
			'title' => 'CellPay starts Kiosk Stall Activation',
			'sub_title' => '',
			'summary' => 'October 25: CellPay, an NRB Licensed payment service provider has started its kiosk stall activation from October 25. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri">October 25: CellPay, an NRB Licensed payment service provider has started its kiosk stall activation from October 25. The stall activation is happening at Civil Mall and Labim Mall on October 25 (Friday) and October 26 (Saturday) respectively from 10 am to 5pm. </span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri">The company said in a statement that the activation is aimed to increase interaction with the customers and provide detail information about the how to use CellPay and its benefits.&nbsp; During the activation, CellPay is offering on the spot KYC verification service and free top up of Rs 100 to the customers once their first bank account is linked, the statement added.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri">Users can easily make real time payments for telecom services, electricity, TV, Internet payments, restaurants and fund transfer from one bank to another, domestic remittance, P2P, P2B, B2P, B2B and other services using CellPay. </span></span></p>

<p>&nbsp;</p>
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			'article_category_id' => '236',
			'title' => 'Butwal Goes Green with Mahindra Electric Vehicles',
			'sub_title' => '',
			'summary' => 'October 25: Agni Energy Pvt Ltd, a subsidiary of Agni Group and the authorized distributor of Mahindra electric vehicles (EVs), has opened its new showroom of Mahindra electric vehicles at Tillotama, Jogikuti, Butwal on October 24.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;">October 25: Agni Energy Pvt Ltd, a subsidiary of Agni Group and the authorized distributor of Mahindra electric vehicles (EVs), has opened its new showroom of Mahindra electric vehicles at Tillotama, Jogikuti, Butwal on October 24. The company claimed that this is the first Mahindra electric vehicles showroom outside Kathmandu Valley. Till now Mahindra Electric vehicles (EVs) were accessible for consumers of Kathmandu Valley and its surrounding areas only, reads a press statement issued by the company.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;">The company further said that the objective of establishing this new showroom was to provide easy access of EVs to customers of Butwal and its surrounding areas.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;">According to Ajaya Kumar Khati Chhetri, managing director of Butwal-based Green Drive Group, which is a dealer of Agni Energy, the showroom will provide servicing and spare parts of Mahindra&#39;s electric cars such as Mahindra e2o and eVerito. He further said that since more consumers are gravitating towards electric vehicles (EVs) due to overall cost savings compared to vehicles powered by fossil fuels, this showroom will meet their expectation in facilitating such vehicles in their own native place. </span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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			'id' => '11581',
			'article_category_id' => '1',
			'title' => 'Government Extends Deadline to get Listed in Social Security Scheme',
			'sub_title' => '',
			'summary' => 'October 25: The government has extended the deadline for private institutions to get enlisted in the Social Security Scheme, an ambitious project that ensures pension and other facilities to employees of the private sector after retirement.  ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 25: The government has extended the deadline for private institutions to get enlisted in the Social Security Scheme, an ambitious project that ensures pension and other facilities to employees of the private sector after retirement.&nbsp; According to the Ministry of Labour, the government decided to extend the deadline by one month after the Social Security Scheme failed to attract the private sector as per the government&rsquo;s expectations.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The government had earlier set the timeframe of mid-October to get enlisted in the government&rsquo;s Social Security Fund after implementing the contributions-based scheme from the current fiscal year.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Organising a press conference on Thursday (October 24), Minister for Labour, Employment and Social Security Gokarna Bista said that the government decided to extend the deadline as per the request from the private sector. He said that the decision was taken as a large number of commercial institutes are yet to get listed in the scheme and the festive season is ongoing.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to the minister, big commercial institutes have demanded for more time to get listed in the scheme.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&ldquo;We extended the deadline to facilitate those who are yet to get listed,&rdquo; said the minister.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">So far, only 8818 employers have been listed in the scheme while the number of contributors is 196,800. The fund has already collected Rs 76.5 million.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Social Security Fund has forwarded its working procedure to the ministry for approval. Once it gets approved, the contributors can benefit from home and educational loans. Workers are currently benefitting from such loans from the Employee Provident Fund. Officials at the fund believe that the employee will be attracted toward this scheme once the working procedure gets approved.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The scheme offers financial security in case of health and maternity emergency, medical expenses, accidents , dependent family members and old-age allowance among others. &nbsp;</span></span></p>
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			'id' => '11582',
			'article_category_id' => '1',
			'title' => 'Jajarkot-Dolpa road to get Blacktopped',
			'sub_title' => '',
			'summary' => 'October 25: The 35-kilometre road section between Jajarkot and Dolpa is finally being blacktopped.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">October 25: The 35-kilometre road section between Jajarkot and Dolpa is finally being blacktopped. The Department of Roads, Chaurjahari informed that the road is being blacktopped with the support from the federal and the provincial governments. </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:&quot;Times New Roman&quot;,&quot;serif&quot;">Narendra Bhatta, chief of local Department of Roads office, said that the federal government will provide budget for blacktopping 28 km road and the provincial government will provide budget for the remaining 7 km. It is estimated that Rs 1 billion and Rs 210 million are required respectively for the completion of the 28 km and 7 km road sections. </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:&quot;Times New Roman&quot;,&quot;serif&quot;">According to Bhatta, the detailed project report (DPR) and environmental impact assessment (EIA) have been already completed. He said the file has been forwarded to the National Planning Commission and the Ministry of Finance for approval. He further informed that the work will be started from the current fiscal year. </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:&quot;Times New Roman&quot;,&quot;serif&quot;">Deputy Mayor of Aathbiskot Municipality, Gita Nepali, said that the decision of blacktopping the road from Chisapani to Radi was taken after relentless effort by the locals. The municipality has already provided the necessary support for blacktopping road, she said. </span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '11583',
			'article_category_id' => '1',
			'title' => 'CDC Invests Rs 1.35 Billion in Worldlink',
			'sub_title' => '',
			'summary' => 'October 25: The British government’s development finance group CDC has invested Rs 1.35 billion in Worldlink, a leading internet service provider in Nepal. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 25: The British government&rsquo;s development finance group CDC has invested Rs 1.35 billion in Worldlink, a leading internet service provider in Nepal. CDC invested the amount to acquire 10 percent share of Worldlink.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">CDC&rsquo;s investment is the first foreign investment in this sector in Nepal. CDC had earlier had provided a loan of US$ 15 million to the NMB Bank for three years.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The finance group has also shown interest to purchase Himalayan Bank&rsquo;s shares owned by Pakistan&rsquo;s Habib Bank. CDC is holding discussions with Himalayan Bank to purchase 20 percent stakes of Habib Bank, which has been a partner since the establishment of Himalayan Bank.</span></span></p>
',
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			'description' => '',
			'sortorder' => '11331',
			'image' => '20191025095641_safenet_banner.jpg',
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		'Article' => array(
			'id' => '11580',
			'article_category_id' => '1',
			'title' => 'Nepal-Bangladesh to Collaborate for Promotion of Transshipment and Connectivity',
			'sub_title' => '',
			'summary' => 'October 24: Nepal-Bangladesh Trade Talks concluded on Wednesday, October 24.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 24: Nepal-Bangladesh Trade Talks concluded on Wednesday, October 24. The two-day parleys were focused on connectivity and transshipment between the two countries for promoting trade. Both the countries agreed to collaborate for the promotion of business through highways, railways, waterways and airways.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Nawa Raj Dhakal, joint secretary at the Ministry of Industry, Commerce and Supplies as well as the coordinator of the Nepali delegation, said the meeting discussed about preparing a feasibility report on operation of water transportation from Chittagong of Bangladesh to Sahebgunj and Kalughat of India.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Prior to this, Nepal and India had signed an agreement to operate ships with Nepali flag for third country trade via India.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">A member of the Nepali delegation, Premraj Bhandari, said that the meeting also discussed about the possibility of signing a repatriate agreement between Nepal, India and Bangladesh for transshipment through waterways. The two countries will finalize the issue by the next secretarial-level meeting.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Dhakal informed that Bangladesh is in favor of taking necessary steps to arrange proper environment to operate Nepali cargo trucks to Bangladesh. Likewise, the two countries discussed about joint investment, tourism, trade by overcoming the hurdles related to customs.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">During the programme, Nepal urged Bangladesh to minimize extra charges levied by Bangladesh on Nepali agricultural products such as cardamom and ginger among other products.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Dhakal also said that Bangladesh is positive towards solving the visa problems faced by Nepali students to study in Bangladesh.</span></span></p>

<p>&nbsp;</p>
',
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		'Article' => array(
			'id' => '11578',
			'article_category_id' => '1',
			'title' => 'Nepal Leapfrogs 16 Spots in Doing Business Index',
			'sub_title' => '',
			'summary' => 'October 24: Nepal leapfrogged 16 spots in the Doing Business index of the World Bank as governments of 115 economies around the world launched 294 reforms over the past year .',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 24: Nepal leapfrogged 16&nbsp;spots in the Doing Business index of the World Bank as governments of 115 economies around the world launched 294 reforms over the past year to make doing business easier for their domestic private sector, according to the World Bank Group&rsquo;s Doing Business 2020 report.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">In the annual report of the World Bank released on Thursday (October 24), Nepal jumped to 94th position from 110 among 190 economies worldwide.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">This latest edition of the study documents reforms implemented in 10 areas of business activity over a 12-month period ending May 1, 2019, the World Bank said.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Overall, South Asia was the region with the highest share of economies implementing trade reforms in Doing Business 2020, according to the report.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&ldquo;Trade reforms demonstrate the importance of cross-border cooperation in ensuring easy customs clearance procedures, harmonization of compliance rules, and border control efficiency. Nepal, for example, decreased the time to export and import by opening a new joint border crossing point with India,&rdquo; reads the report.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to the World Bank, the 10 areas measured in the report are: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, and resolving insolvency. One additional area, employing workers, is also measured but is not included in the rankings.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">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></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Dealing with construction permits in Nepal was made easier and less costly by reducing fees for building permits and improving the online e-submissions platform. </span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Nepal also improved the quality of its land administration system by publishing official service standards for delivering updated cadastral maps. &nbsp;Getting credit in Nepal improved with access to credit information by expanding the coverage of the credit bureau. </span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Nepal reduced the time and cost to export and the time to import by opening the Integrated Check Post in Birgunj at the Nepal&ndash;India border. Nepal also made enforcing contracts easier during the revbiew period by adopting a new code of civil procedure that introduces time standards for key court events.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The ten economies where business climates improved the most were Saudi Arabia, Jordan, Togo, Bahrain, Tajikistan, Pakistan, Kuwait, China, India, and Nigeria, the study found. China and Togo appear among the top ten for the second consecutive year, while India makes the list for the third consecutive year, indicating that business regulatory reform is a multi-year process. Bahrain implemented the highest number of reforms, improving in nine out of ten areas measured by the report. China and Saudi Arabia followed with eight reforms each.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The top performers typically had online business incorporation processes, electronic tax filing platforms, and online procedures for property transfers.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Since its inception in 2003, more than 3,500 business reforms have been carried out in 186 of the 190 economies Doing Business monitors.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>

<p>&nbsp;</p>
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			'id' => '11579',
			'article_category_id' => '1',
			'title' => 'IPPAN Power Summit in November',
			'sub_title' => '',
			'summary' => 'October 24: The Independent Power Producers Association Nepal (IPPAN) is all set to organize Power Summit 2019 in November. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 24: The Independent Power Producers Association Nepal (IPPAN) is all set to organize Power Summit 2019 in November. IPPAN claimed that investors from India and Bangladesh will attend the two-day summit on November 21 and 22 where stakeholders will sign agreements to develop 25,000 megawatts of electricity in Nepal.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to IPPAN, Nepal is likely to sign agreement for developing 15,600 megawatts of electricity with India and 9000 megawatts of electricity with Bangladesh.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">IPPAN President Shailendra Guragain said that Bangladesh has already announced to import 9000 megawatts of electricity from Nepal while India has unveiled its plan to import 15600 megawatts of electricity.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&ldquo;Both countries are ready to invest in hydropower sector of Nepal. We are now planning to sign agreements in this regard,&rdquo; said Guragain.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">A delegation led by IPPAN had toured India and Bangladesh some months ago. During the visit, government agencies and private sector of both the countries had expressed their willingness to invest in the hydropower sector of Nepal, according to Guragain. He further said that Indian authorities were willing to pay Rs 6.4 and Bangladesh Rs 11.3 to purchase electricity from Nepal.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">IPPAN General Secretary Ashish Garg said that India and Bangladesh have enacted laws to allow its private sector to invest in hydropower sector of foreign countries.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&nbsp;</span></span></p>
',
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			'created' => '2019-10-24',
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			'keywords' => '',
			'description' => '',
			'sortorder' => '11328',
			'image' => '20191024013250_Power-Summit-2019 (1).jpg',
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	(int) 8 => array(
		'Article' => array(
			'id' => '11577',
			'article_category_id' => '1',
			'title' => 'Remittance Slumps after 19 months',
			'sub_title' => '',
			'summary' => 'October 24: The inflow of remittance to Nepal has shrunk once again after 19 months.  ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 24: The inflow of remittance to Nepal has shrunk once again after 19 months. &nbsp;A report released by Nepal Rastra Bank on Wednesday states that remittance decreased by 0.3 percent to Rs 153.73 billion in mid-September this year compared to the corresponding period of last year. The Current Macroeconomic and Financial Situation of Nepal unveiled by the central banks states that remittance had increased by 33.4 percent in the same period of the previous year.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The last time that the inflow of remittance had slumped was in December 2017.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Stakeholders have attributed the decrease in remittance to the significant reduction in the number of Nepali migrant workers leaving for foreign employment last year. Its effects are clearly visible in the decrease in remittance, according to people who are involved in the foreign employment sector.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Meanwhile, Deputy Governor of Nepal Rastra Bank Chintamani Shivakoti said remittance is subject to fluctuation, which quite normal.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&ldquo;The foreign exchange rate had reduced in mid-September due to which inflow of remittance might have been affected,&rdquo; said Shivakoti.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&ldquo;Looking at the past trend, remittance increases after mid-September during Dashain and other festivals,&rdquo; he added.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&nbsp;In the first two months of 2019/20, merchandise imports decreased 1.2 percent to Rs 229.50 billion against an increase of 38.5 percent in the same period of the previous year.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Destination-wise, imports from China increased 39.2 percent whereas imports from India, and other countries decreased 2 percent and 19.8 percent respectively. Commodity-wise, import of readymade garments, crude palm oil, other machinery and parts, hot rolled sheet, chemical fertilizer, among others, increased whereas imports of aircraft spareparts, MS billet, gold, petroleum product, cement, among others, decreased in the review period.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Likewise, the country&rsquo;s merchandise export increased by 25.9 percent to Rs 18.5 billion compared to an increase of 8 percent a year ago. Destination-wise, exports to India and other countries increased 46 percent and 0.6 percent respectively whereas exports to China decreased 17.4 percent. Mainly exports of palm oil, cardamom, jute goods, yarn (polyester and other), textiles, among others, increased whereas exports of zinc sheet, juice, wire, readymade garment, pashmina, among others, decreased in the review period.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to the central bank, Nepal&rsquo;s total trade deficit narrowed 3.1 percent to Rs 211 billion in the two months of 2019/20. The export-import ratio increased to 8.1 percent in the review period from 6.3 percent in the corresponding period of the previous year.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Meanwhile, the year-on-year consumer price inflation stood at 6.16 percent in mid-September 2019 compared to 3.86 percent a year ago. Food and beverage inflation stood at 6.51 percent whereas non-food and service inflation stood at 5.89 percent in the review month.</span></span></p>
',
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			'created' => '2019-10-24',
			'modified' => '2019-10-25',
			'keywords' => '',
			'description' => '',
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	(int) 9 => array(
		'Article' => array(
			'id' => '11576',
			'article_category_id' => '1',
			'title' => 'Concept of Flight School in Nepal in Limbo ',
			'sub_title' => '',
			'summary' => 'October 23: The government’s plan to operate a flight school in Public Private Partnership (PPP) model for the generating human resource in the aviation sector is in limbo. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">October 23: The government&rsquo;s plan to operate a flight school in Public Private Partnership (PPP) model for the generating human resource in the aviation sector is in limbo. The plan could not progress due to lack of interest by the private sector. </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:&quot;Times New Roman&quot;">Minister of Culture, Tourism and Civil Aviation Yogesh Bhattarai had proposed to establish a flight school in Nepal as there is shortage of pilot globally and the numbers of airline companies are increasing in Nepal. Bhattarai had presented the concept of opening a school in collaboration with the private sector a few months ago. However, private sector does not seem to be much interested, said the minister. </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:&quot;Times New Roman&quot;">In the budget announcement for the current fiscal year, the government has stated that it will encourage partnership and cooperation with the private sector for the construction, development and management of aviation infrastructure in the country. Nepali youths are obliged to go abroad for pilot training paying exorbitant price. </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:&quot;Times New Roman&quot;">To end this trend, Minister Bhattarai had put forward the idea of establishing a flight school in Nepal itself. However, no concrete steps have been taken to this end except for the concept put forward by the minister.</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:&quot;Times New Roman&quot;">According to Suresh Acharya, joint secretary at the ministry, the matter is still under discussion. </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:&quot;Times New Roman&quot;">A few years ago, a flight school named Shibani Air came into operation in Nepal but it was shut down before it could take wings. </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:&quot;Times New Roman&quot;">Birendra Bahadur Basnet, managing director of Buddha Air, says that there is no guarantee that opening a school will be viable in the long run if such pilot training institutes are opened only to meet the immediate demands. He further says that although the idea sounds attractive, a flight school cannot sustain with the demand within the domestic market. Manager of Shree Airlines, Anil Manandhar, also says sustaining the proposed school might be a problem due to the limited demand. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;">According to Airlines Operators Association of Nepal, around 30 youths go abroad for pilot training every year. As per the association, around 200 Nepali youths are studying pilot courses in different institutes abroad. Nepali youths are going to the US, France and South Africa to pursue pilot course. It costs Rs 6.5 million to 8.5 million to complete the pilot course. </span></span></p>
',
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			'created' => '2019-10-23',
			'modified' => '2019-10-23',
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			'description' => '',
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	(int) 10 => array(
		'Article' => array(
			'id' => '11575',
			'article_category_id' => '1',
			'title' => 'Insurance Information Centre in the Offing',
			'sub_title' => '',
			'summary' => 'October 23: The Insurance Board Nepal is all set to establish Insurance Information Centre to curb fraudulent activities in the insurance sector. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 23: The Insurance Board Nepal is all set to establish Insurance Information Centre to curb fraudulent activities in the insurance sector. The board has initiated the process to form the information centre in collaboration with insurance companies.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The board said it has already held discussions with the chiefs of all insurance companies and that the companies have shown interest to invest in shares of the information centre.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Currently, there are 10 life insurance companies in Nepal, 20 non-life insurance companies and one re-insurance company.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">It has been learnt that the information centre will be formed with a total capital of Rs 4.3 million by collecting Rs 100,000 for shares from each insurance company. The insurance board will invest Rs 300,000 for the establishment of the centre.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Insurance Bill 2075, which is currently in parliament for discussion, has also envisaged an insurance information centre. However, the board has already initiated the process to establish the information centre although the bill is yet to be approved.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Executive Director of the Insurance Board Nepal, Raju Raman Poudel, said that the board will set up the information centre within this year.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&ldquo;At present, we are discussing on the working procedure and setting up the funds. We are trying our best to bring the information centre into operation as soon as possible,&rdquo; said Poudel.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&nbsp;</span></span></p>

<p>&nbsp;</p>
',
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			'created' => '2019-10-23',
			'modified' => '2019-10-23',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11325',
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	(int) 11 => array(
		'Article' => array(
			'id' => '11573',
			'article_category_id' => '1',
			'title' => 'Nepal-Bangladesh Trade Talks Begin',
			'sub_title' => '',
			'summary' => 'October 23: The Nepali delegation in a meeting with Bangladesh on the topic of trade discussed the issue of reducing trade deficit with Bangladesh on Tuesday. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 23: The Nepali delegation in a meeting with Bangladesh on the topic of trade discussed the issue of reducing trade deficit with Bangladesh on Tuesday. The two countries also discussed about addressing the problems at the customs points and to facilitate trade between Nepal and Bangladesh. The possibility of trade though waterways was also discussed during the first day of the secretary-level meeting.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Nepali delegation led by Joint-Secretary Nabaraj Dhakal of the Ministry of Industry, Commerce and Supplies, said that Bangladesh has shown interest to invest on hydropower sector of Nepal.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&ldquo;Bangladesh has shown interest to invest in 20 hydropower projects in Nepal,&rdquo; said Dhakal.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Joint Secretary Dhakal confirmed that discussions were held on connectivity, shipment of goods, export and import of food products and energy sector.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">During the meeting, the Nepali side laid emphasis on export of yarn and electricity as well as facilitation of visa process for students pursuing courses in Bangladesh.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Joint Secretary Dhakal said that discussions are being held in line with the agenda set by the council of ministers.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Although Bangladesh had eased the import of yarn since last year, Nepal has not been able to export the product in large quantity. Nepal exported yarn worth Rs 600 million in a period of one year.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Bangladesh has allowed Nepal to export only acrylic yarn, which is not much used in Bangladesh, according to Nepali exporters. Currently, there is high demand for viscous yarn, polyster yarn, and dyed yarn.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Meanwhile, Bangladesh has raised the issue of the ban imposed by Nepal on Bangladeshi soft drinks, especially fruit juice. Last year, Nepal had imposed a ban of importing juice from overseas in order to protect its own industries. This has badly affected the trade of Bangladesh.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The ban was imposed in accordance to the National Trade Deficit Work Plan introduced by the government to reduce trade deficit. Nepal used to be a major market for Bangladeshi company Pran until the ban was enforced. Juice and soft drinks comprised of 39 percent of the total trade with Bangladesh last year. Nepal had imported litchi juice worth Rs 1.68 billion of Pran brand in fiscal year 2017/18.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">During Tuesday&rsquo;s meeting, the two countries also discussed about signing a MoU on ensuring food security. Discussions were also held on recognizing each others&rsquo; labs and on plant quarantine as well.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Nepal has been facing trade deficit with Bangladesh since the last four years. Although the list of items imported from Bangladesh is long, Nepal only exports 10 products to Bangladesh. Nepal&rsquo;s chief export to Bangladesh includes lentil, Dabur Nepal&rsquo;s products, medicinal herbs, cake made from mustard oil, transformers among others. Meanwhile, Nepal imports juice and other drinks, raw jute, milk powder, sugar to name a few products.</span></span></p>

<p>&nbsp;</p>
',
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			'description' => '',
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	(int) 12 => array(
		'Article' => array(
			'id' => '11572',
			'article_category_id' => '1',
			'title' => 'Police to Present Report of ATM Hacking within 2 weeks',
			'sub_title' => '',
			'summary' => 'October 23: The Metropolitan Police Range, Teku is preparing to submit a report of the August 31 ATM hacking to the District Attorney’s Office within two weeks.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 23: The Metropolitan Police Range, Teku is preparing to submit a report of the August 31 ATM hacking to the District Attorney&rsquo;s Office within two weeks.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">SSP Hobindra Bogati of the police range informed New Business Age that the investigation into the case involving six Chinese nationals and three Nepalis has reached the final stage.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&ldquo;We are preparing to submit a report to the District Attorney&rsquo;s Office within the next two weeks,&rdquo; said Bogati, adding, &ldquo;Then we will submit the report to the Patan High Court.&rdquo;</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The police range has already filed a case against the arrested on the charge of banking offence.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">A group of Chinese nationals had withdrawn more than Rs 17.6 million from ATM is the capital some months ago by hacking the ATMs. The gang was busted on August 31. On the same day, hackers used VISA card to withdraw money of Nepali banks from ATMs in India, according to the information provided by VISA.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Police investigation has found that the hackers withdrew around Rs 11.4 million from Nabil Bank alone. It was found that the hackers bypassed the Nepal Electronic Payment System (NEPS) to steal the money. Following the incident, Nepal Rastra Bank had directed NEPS to adopt alternative measures to secure their system.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">CEO of NEPS Prabin Chhetri said that a forensic report of the investigations carried out by a Singaporean company was supposed to be presented by late November. But the report is likely to be delayed, according to Chhetri.</span></span></p>
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	(int) 13 => array(
		'Article' => array(
			'id' => '11571',
			'article_category_id' => '1',
			'title' => 'Three New Int’l Airlines to Operate Flights to Nepal',
			'sub_title' => '',
			'summary' => 'October 23: With the Visit Nepal Year 2020 just around the corner, three new international airlines will be operating flights to Nepal soon. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 23: With the Visit Nepal Year 2020 just around the corner, three new international airlines will be operating flights to Nepal soon. Kuwait&rsquo;s Jazeera &nbsp;Airways and India&rsquo;s Spice Jet as well as Vistara Air have shown interest to operate flights to Nepal.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Civil Aviation Authority of Nepal (CAAN) has already granted permission to Jazeera &nbsp;Airways and Spice Jet to operate flights to Nepal. CAAN informed New Business Age that the process to approvr Vistara Air&rsquo;s request to operate flights to Nepal is in the final stage.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to CAAN, Spice Jet and Jazeera &nbsp;Airways will start commercial flights to Nepal from the third week of November.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Spice Jet had requested CAAN for operating flights along Kathmandu-New Delhi- Mumbai route while Vistara Air has asked for permission to operate flights along Kathmandu-New Delhi route.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Spice Jet had already acquired permission to operate Kathmandu-New Delhi flights before and now has been granted permission to extend the flights till Mumbai.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">CAAN said that Spice Jet has been allowed to operate flights throughout the week.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Kathmandu is not a new destination for Spice Jet. It had started operating flights to Kathmandu in 2008 but discontinued the service after seven years.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Likewise, Vistara Air, which is owned by India&rsquo;s Tata Group and Singapore Airlines, had submitted a proposal to operate flights to Kathmandu from November itself. But the CAAN is currently studying its proposal.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">After the cash-strapped Jet Airways stopped operating in April, Nepal&rsquo;s flag carrier Nepal Airlines Corporation, Air India and Indigo Airlines have been actively operating flights between Kathmandu and New Delhi. Bhutan&rsquo;s Druk Air also runs one flight a week along this route.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">NAC has been operating 14 flights a week along this route while Indigo Airlines operates 21 flights and Air India 14.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Meanwhile, Kuwait&rsquo;s Jazeera Airways sought permission for operating flights between Kuwait and Nepal after Wataniya Airways of the Gulf country went out of business.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Jazeera Airways had sought permission from CAAN about a month ago and has given the approval just four days ago on October 19. Although it has been granted permission to operate flights throughout the week, the airline will operate flights for four days a week in the initial phase.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Out of the total air passengers visiting Nepal, 25 percent come from New Delhi. &nbsp;</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&nbsp;</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&nbsp;&nbsp;</span></span></p>

<p>&nbsp;</p>
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	(int) 14 => array(
		'Article' => array(
			'id' => '11570',
			'article_category_id' => '1',
			'title' => 'Finance Minister Urges Donor Organisations to Increase Investment ',
			'sub_title' => '',
			'summary' => 'October 22: Finance minister Dr Yuba Raj Khatiwada has urged donor organisations to invest in hydropower, tourism, agriculture, urban infrastructure and other sectors of Nepal. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">October 22: Finance minister Dr Yuba Raj Khatiwada has urged donor organisations to invest in hydropower, tourism, agriculture, urban infrastructure and other sectors of Nepal. In a meeting with senior officials of the International Finance Corporation&#39;s Asia Pacific region, he discussed about the possibilities of Nepal&#39;s economy and urged them to increase investment in Nepal. He further informed the officials that Nepal has already started working in credit rating. </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:&quot;Times New Roman&quot;">He also said that Nepal is well aware about the effects of worldwide slump in economic growth to the foreign employment of Nepal as well as tourism, foreign investment and industrial sector of the country.</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:&quot;Times New Roman&quot;">Meanwhile, at the recent Board of Governors&rsquo; Plenary Session on the second day of the joint annual meeting of the World Bank Group and International Monetary Fund, Minister Khatiwada said that to reduce the gap between investment and savings in Nepal, mobilization of foreign capital is necessary. Moreover, he said that Nepal&rsquo;s capital market is small and it is important to increase it. Stating that the role of the private sector is important in economic development, Minister Khatiwada said that investment sector should be diversified to make the private sector more robust, capable and effective. </span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'id' => '11585',
			'article_category_id' => '266',
			'title' => 'CellPay starts Kiosk Stall Activation',
			'sub_title' => '',
			'summary' => 'October 25: CellPay, an NRB Licensed payment service provider has started its kiosk stall activation from October 25. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri">October 25: CellPay, an NRB Licensed payment service provider has started its kiosk stall activation from October 25. The stall activation is happening at Civil Mall and Labim Mall on October 25 (Friday) and October 26 (Saturday) respectively from 10 am to 5pm. </span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri">The company said in a statement that the activation is aimed to increase interaction with the customers and provide detail information about the how to use CellPay and its benefits.&nbsp; During the activation, CellPay is offering on the spot KYC verification service and free top up of Rs 100 to the customers once their first bank account is linked, the statement added.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri">Users can easily make real time payments for telecom services, electricity, TV, Internet payments, restaurants and fund transfer from one bank to another, domestic remittance, P2P, P2B, B2P, B2B and other services using CellPay. </span></span></p>

<p>&nbsp;</p>
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			'title' => 'Butwal Goes Green with Mahindra Electric Vehicles',
			'sub_title' => '',
			'summary' => 'October 25: Agni Energy Pvt Ltd, a subsidiary of Agni Group and the authorized distributor of Mahindra electric vehicles (EVs), has opened its new showroom of Mahindra electric vehicles at Tillotama, Jogikuti, Butwal on October 24.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;">October 25: Agni Energy Pvt Ltd, a subsidiary of Agni Group and the authorized distributor of Mahindra electric vehicles (EVs), has opened its new showroom of Mahindra electric vehicles at Tillotama, Jogikuti, Butwal on October 24. The company claimed that this is the first Mahindra electric vehicles showroom outside Kathmandu Valley. Till now Mahindra Electric vehicles (EVs) were accessible for consumers of Kathmandu Valley and its surrounding areas only, reads a press statement issued by the company.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;">The company further said that the objective of establishing this new showroom was to provide easy access of EVs to customers of Butwal and its surrounding areas.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;">According to Ajaya Kumar Khati Chhetri, managing director of Butwal-based Green Drive Group, which is a dealer of Agni Energy, the showroom will provide servicing and spare parts of Mahindra&#39;s electric cars such as Mahindra e2o and eVerito. He further said that since more consumers are gravitating towards electric vehicles (EVs) due to overall cost savings compared to vehicles powered by fossil fuels, this showroom will meet their expectation in facilitating such vehicles in their own native place. </span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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			'sortorder' => '11334',
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			'id' => '11581',
			'article_category_id' => '1',
			'title' => 'Government Extends Deadline to get Listed in Social Security Scheme',
			'sub_title' => '',
			'summary' => 'October 25: The government has extended the deadline for private institutions to get enlisted in the Social Security Scheme, an ambitious project that ensures pension and other facilities to employees of the private sector after retirement.  ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 25: The government has extended the deadline for private institutions to get enlisted in the Social Security Scheme, an ambitious project that ensures pension and other facilities to employees of the private sector after retirement.&nbsp; According to the Ministry of Labour, the government decided to extend the deadline by one month after the Social Security Scheme failed to attract the private sector as per the government&rsquo;s expectations.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The government had earlier set the timeframe of mid-October to get enlisted in the government&rsquo;s Social Security Fund after implementing the contributions-based scheme from the current fiscal year.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Organising a press conference on Thursday (October 24), Minister for Labour, Employment and Social Security Gokarna Bista said that the government decided to extend the deadline as per the request from the private sector. He said that the decision was taken as a large number of commercial institutes are yet to get listed in the scheme and the festive season is ongoing.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to the minister, big commercial institutes have demanded for more time to get listed in the scheme.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&ldquo;We extended the deadline to facilitate those who are yet to get listed,&rdquo; said the minister.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">So far, only 8818 employers have been listed in the scheme while the number of contributors is 196,800. The fund has already collected Rs 76.5 million.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Social Security Fund has forwarded its working procedure to the ministry for approval. Once it gets approved, the contributors can benefit from home and educational loans. Workers are currently benefitting from such loans from the Employee Provident Fund. Officials at the fund believe that the employee will be attracted toward this scheme once the working procedure gets approved.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The scheme offers financial security in case of health and maternity emergency, medical expenses, accidents , dependent family members and old-age allowance among others. &nbsp;</span></span></p>
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			'id' => '11582',
			'article_category_id' => '1',
			'title' => 'Jajarkot-Dolpa road to get Blacktopped',
			'sub_title' => '',
			'summary' => 'October 25: The 35-kilometre road section between Jajarkot and Dolpa is finally being blacktopped.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">October 25: The 35-kilometre road section between Jajarkot and Dolpa is finally being blacktopped. The Department of Roads, Chaurjahari informed that the road is being blacktopped with the support from the federal and the provincial governments. </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:&quot;Times New Roman&quot;,&quot;serif&quot;">Narendra Bhatta, chief of local Department of Roads office, said that the federal government will provide budget for blacktopping 28 km road and the provincial government will provide budget for the remaining 7 km. It is estimated that Rs 1 billion and Rs 210 million are required respectively for the completion of the 28 km and 7 km road sections. </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:&quot;Times New Roman&quot;,&quot;serif&quot;">According to Bhatta, the detailed project report (DPR) and environmental impact assessment (EIA) have been already completed. He said the file has been forwarded to the National Planning Commission and the Ministry of Finance for approval. He further informed that the work will be started from the current fiscal year. </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:&quot;Times New Roman&quot;,&quot;serif&quot;">Deputy Mayor of Aathbiskot Municipality, Gita Nepali, said that the decision of blacktopping the road from Chisapani to Radi was taken after relentless effort by the locals. The municipality has already provided the necessary support for blacktopping road, she said. </span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '11583',
			'article_category_id' => '1',
			'title' => 'CDC Invests Rs 1.35 Billion in Worldlink',
			'sub_title' => '',
			'summary' => 'October 25: The British government’s development finance group CDC has invested Rs 1.35 billion in Worldlink, a leading internet service provider in Nepal. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 25: The British government&rsquo;s development finance group CDC has invested Rs 1.35 billion in Worldlink, a leading internet service provider in Nepal. CDC invested the amount to acquire 10 percent share of Worldlink.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">CDC&rsquo;s investment is the first foreign investment in this sector in Nepal. CDC had earlier had provided a loan of US$ 15 million to the NMB Bank for three years.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The finance group has also shown interest to purchase Himalayan Bank&rsquo;s shares owned by Pakistan&rsquo;s Habib Bank. CDC is holding discussions with Himalayan Bank to purchase 20 percent stakes of Habib Bank, which has been a partner since the establishment of Himalayan Bank.</span></span></p>
',
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			'created' => '2019-10-25',
			'modified' => '2019-10-25',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11331',
			'image' => '20191025095641_safenet_banner.jpg',
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		'Article' => array(
			'id' => '11580',
			'article_category_id' => '1',
			'title' => 'Nepal-Bangladesh to Collaborate for Promotion of Transshipment and Connectivity',
			'sub_title' => '',
			'summary' => 'October 24: Nepal-Bangladesh Trade Talks concluded on Wednesday, October 24.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 24: Nepal-Bangladesh Trade Talks concluded on Wednesday, October 24. The two-day parleys were focused on connectivity and transshipment between the two countries for promoting trade. Both the countries agreed to collaborate for the promotion of business through highways, railways, waterways and airways.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Nawa Raj Dhakal, joint secretary at the Ministry of Industry, Commerce and Supplies as well as the coordinator of the Nepali delegation, said the meeting discussed about preparing a feasibility report on operation of water transportation from Chittagong of Bangladesh to Sahebgunj and Kalughat of India.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Prior to this, Nepal and India had signed an agreement to operate ships with Nepali flag for third country trade via India.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">A member of the Nepali delegation, Premraj Bhandari, said that the meeting also discussed about the possibility of signing a repatriate agreement between Nepal, India and Bangladesh for transshipment through waterways. The two countries will finalize the issue by the next secretarial-level meeting.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Dhakal informed that Bangladesh is in favor of taking necessary steps to arrange proper environment to operate Nepali cargo trucks to Bangladesh. Likewise, the two countries discussed about joint investment, tourism, trade by overcoming the hurdles related to customs.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">During the programme, Nepal urged Bangladesh to minimize extra charges levied by Bangladesh on Nepali agricultural products such as cardamom and ginger among other products.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Dhakal also said that Bangladesh is positive towards solving the visa problems faced by Nepali students to study in Bangladesh.</span></span></p>

<p>&nbsp;</p>
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			'id' => '11578',
			'article_category_id' => '1',
			'title' => 'Nepal Leapfrogs 16 Spots in Doing Business Index',
			'sub_title' => '',
			'summary' => 'October 24: Nepal leapfrogged 16 spots in the Doing Business index of the World Bank as governments of 115 economies around the world launched 294 reforms over the past year .',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 24: Nepal leapfrogged 16&nbsp;spots in the Doing Business index of the World Bank as governments of 115 economies around the world launched 294 reforms over the past year to make doing business easier for their domestic private sector, according to the World Bank Group&rsquo;s Doing Business 2020 report.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">In the annual report of the World Bank released on Thursday (October 24), Nepal jumped to 94th position from 110 among 190 economies worldwide.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">This latest edition of the study documents reforms implemented in 10 areas of business activity over a 12-month period ending May 1, 2019, the World Bank said.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Overall, South Asia was the region with the highest share of economies implementing trade reforms in Doing Business 2020, according to the report.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&ldquo;Trade reforms demonstrate the importance of cross-border cooperation in ensuring easy customs clearance procedures, harmonization of compliance rules, and border control efficiency. Nepal, for example, decreased the time to export and import by opening a new joint border crossing point with India,&rdquo; reads the report.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to the World Bank, the 10 areas measured in the report are: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, and resolving insolvency. One additional area, employing workers, is also measured but is not included in the rankings.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">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></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Dealing with construction permits in Nepal was made easier and less costly by reducing fees for building permits and improving the online e-submissions platform. </span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Nepal also improved the quality of its land administration system by publishing official service standards for delivering updated cadastral maps. &nbsp;Getting credit in Nepal improved with access to credit information by expanding the coverage of the credit bureau. </span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Nepal reduced the time and cost to export and the time to import by opening the Integrated Check Post in Birgunj at the Nepal&ndash;India border. Nepal also made enforcing contracts easier during the revbiew period by adopting a new code of civil procedure that introduces time standards for key court events.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The ten economies where business climates improved the most were Saudi Arabia, Jordan, Togo, Bahrain, Tajikistan, Pakistan, Kuwait, China, India, and Nigeria, the study found. China and Togo appear among the top ten for the second consecutive year, while India makes the list for the third consecutive year, indicating that business regulatory reform is a multi-year process. Bahrain implemented the highest number of reforms, improving in nine out of ten areas measured by the report. China and Saudi Arabia followed with eight reforms each.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The top performers typically had online business incorporation processes, electronic tax filing platforms, and online procedures for property transfers.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Since its inception in 2003, more than 3,500 business reforms have been carried out in 186 of the 190 economies Doing Business monitors.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>

<p>&nbsp;</p>
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			'id' => '11579',
			'article_category_id' => '1',
			'title' => 'IPPAN Power Summit in November',
			'sub_title' => '',
			'summary' => 'October 24: The Independent Power Producers Association Nepal (IPPAN) is all set to organize Power Summit 2019 in November. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 24: The Independent Power Producers Association Nepal (IPPAN) is all set to organize Power Summit 2019 in November. IPPAN claimed that investors from India and Bangladesh will attend the two-day summit on November 21 and 22 where stakeholders will sign agreements to develop 25,000 megawatts of electricity in Nepal.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to IPPAN, Nepal is likely to sign agreement for developing 15,600 megawatts of electricity with India and 9000 megawatts of electricity with Bangladesh.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">IPPAN President Shailendra Guragain said that Bangladesh has already announced to import 9000 megawatts of electricity from Nepal while India has unveiled its plan to import 15600 megawatts of electricity.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&ldquo;Both countries are ready to invest in hydropower sector of Nepal. We are now planning to sign agreements in this regard,&rdquo; said Guragain.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">A delegation led by IPPAN had toured India and Bangladesh some months ago. During the visit, government agencies and private sector of both the countries had expressed their willingness to invest in the hydropower sector of Nepal, according to Guragain. He further said that Indian authorities were willing to pay Rs 6.4 and Bangladesh Rs 11.3 to purchase electricity from Nepal.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">IPPAN General Secretary Ashish Garg said that India and Bangladesh have enacted laws to allow its private sector to invest in hydropower sector of foreign countries.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&nbsp;</span></span></p>
',
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			'created' => '2019-10-24',
			'modified' => '2019-10-24',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11328',
			'image' => '20191024013250_Power-Summit-2019 (1).jpg',
			'article_date' => '2019-10-24 00:00:00',
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	(int) 8 => array(
		'Article' => array(
			'id' => '11577',
			'article_category_id' => '1',
			'title' => 'Remittance Slumps after 19 months',
			'sub_title' => '',
			'summary' => 'October 24: The inflow of remittance to Nepal has shrunk once again after 19 months.  ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 24: The inflow of remittance to Nepal has shrunk once again after 19 months. &nbsp;A report released by Nepal Rastra Bank on Wednesday states that remittance decreased by 0.3 percent to Rs 153.73 billion in mid-September this year compared to the corresponding period of last year. The Current Macroeconomic and Financial Situation of Nepal unveiled by the central banks states that remittance had increased by 33.4 percent in the same period of the previous year.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The last time that the inflow of remittance had slumped was in December 2017.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Stakeholders have attributed the decrease in remittance to the significant reduction in the number of Nepali migrant workers leaving for foreign employment last year. Its effects are clearly visible in the decrease in remittance, according to people who are involved in the foreign employment sector.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Meanwhile, Deputy Governor of Nepal Rastra Bank Chintamani Shivakoti said remittance is subject to fluctuation, which quite normal.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&ldquo;The foreign exchange rate had reduced in mid-September due to which inflow of remittance might have been affected,&rdquo; said Shivakoti.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&ldquo;Looking at the past trend, remittance increases after mid-September during Dashain and other festivals,&rdquo; he added.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&nbsp;In the first two months of 2019/20, merchandise imports decreased 1.2 percent to Rs 229.50 billion against an increase of 38.5 percent in the same period of the previous year.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Destination-wise, imports from China increased 39.2 percent whereas imports from India, and other countries decreased 2 percent and 19.8 percent respectively. Commodity-wise, import of readymade garments, crude palm oil, other machinery and parts, hot rolled sheet, chemical fertilizer, among others, increased whereas imports of aircraft spareparts, MS billet, gold, petroleum product, cement, among others, decreased in the review period.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Likewise, the country&rsquo;s merchandise export increased by 25.9 percent to Rs 18.5 billion compared to an increase of 8 percent a year ago. Destination-wise, exports to India and other countries increased 46 percent and 0.6 percent respectively whereas exports to China decreased 17.4 percent. Mainly exports of palm oil, cardamom, jute goods, yarn (polyester and other), textiles, among others, increased whereas exports of zinc sheet, juice, wire, readymade garment, pashmina, among others, decreased in the review period.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to the central bank, Nepal&rsquo;s total trade deficit narrowed 3.1 percent to Rs 211 billion in the two months of 2019/20. The export-import ratio increased to 8.1 percent in the review period from 6.3 percent in the corresponding period of the previous year.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Meanwhile, the year-on-year consumer price inflation stood at 6.16 percent in mid-September 2019 compared to 3.86 percent a year ago. Food and beverage inflation stood at 6.51 percent whereas non-food and service inflation stood at 5.89 percent in the review month.</span></span></p>
',
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			'created' => '2019-10-24',
			'modified' => '2019-10-25',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11327',
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			'article_date' => '2019-10-24 00:00:00',
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	(int) 9 => array(
		'Article' => array(
			'id' => '11576',
			'article_category_id' => '1',
			'title' => 'Concept of Flight School in Nepal in Limbo ',
			'sub_title' => '',
			'summary' => 'October 23: The government’s plan to operate a flight school in Public Private Partnership (PPP) model for the generating human resource in the aviation sector is in limbo. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">October 23: The government&rsquo;s plan to operate a flight school in Public Private Partnership (PPP) model for the generating human resource in the aviation sector is in limbo. The plan could not progress due to lack of interest by the private sector. </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:&quot;Times New Roman&quot;">Minister of Culture, Tourism and Civil Aviation Yogesh Bhattarai had proposed to establish a flight school in Nepal as there is shortage of pilot globally and the numbers of airline companies are increasing in Nepal. Bhattarai had presented the concept of opening a school in collaboration with the private sector a few months ago. However, private sector does not seem to be much interested, said the minister. </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:&quot;Times New Roman&quot;">In the budget announcement for the current fiscal year, the government has stated that it will encourage partnership and cooperation with the private sector for the construction, development and management of aviation infrastructure in the country. Nepali youths are obliged to go abroad for pilot training paying exorbitant price. </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:&quot;Times New Roman&quot;">To end this trend, Minister Bhattarai had put forward the idea of establishing a flight school in Nepal itself. However, no concrete steps have been taken to this end except for the concept put forward by the minister.</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:&quot;Times New Roman&quot;">According to Suresh Acharya, joint secretary at the ministry, the matter is still under discussion. </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:&quot;Times New Roman&quot;">A few years ago, a flight school named Shibani Air came into operation in Nepal but it was shut down before it could take wings. </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:&quot;Times New Roman&quot;">Birendra Bahadur Basnet, managing director of Buddha Air, says that there is no guarantee that opening a school will be viable in the long run if such pilot training institutes are opened only to meet the immediate demands. He further says that although the idea sounds attractive, a flight school cannot sustain with the demand within the domestic market. Manager of Shree Airlines, Anil Manandhar, also says sustaining the proposed school might be a problem due to the limited demand. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;">According to Airlines Operators Association of Nepal, around 30 youths go abroad for pilot training every year. As per the association, around 200 Nepali youths are studying pilot courses in different institutes abroad. Nepali youths are going to the US, France and South Africa to pursue pilot course. It costs Rs 6.5 million to 8.5 million to complete the pilot course. </span></span></p>
',
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			'created' => '2019-10-23',
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	(int) 10 => array(
		'Article' => array(
			'id' => '11575',
			'article_category_id' => '1',
			'title' => 'Insurance Information Centre in the Offing',
			'sub_title' => '',
			'summary' => 'October 23: The Insurance Board Nepal is all set to establish Insurance Information Centre to curb fraudulent activities in the insurance sector. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 23: The Insurance Board Nepal is all set to establish Insurance Information Centre to curb fraudulent activities in the insurance sector. The board has initiated the process to form the information centre in collaboration with insurance companies.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The board said it has already held discussions with the chiefs of all insurance companies and that the companies have shown interest to invest in shares of the information centre.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Currently, there are 10 life insurance companies in Nepal, 20 non-life insurance companies and one re-insurance company.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">It has been learnt that the information centre will be formed with a total capital of Rs 4.3 million by collecting Rs 100,000 for shares from each insurance company. The insurance board will invest Rs 300,000 for the establishment of the centre.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Insurance Bill 2075, which is currently in parliament for discussion, has also envisaged an insurance information centre. However, the board has already initiated the process to establish the information centre although the bill is yet to be approved.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Executive Director of the Insurance Board Nepal, Raju Raman Poudel, said that the board will set up the information centre within this year.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&ldquo;At present, we are discussing on the working procedure and setting up the funds. We are trying our best to bring the information centre into operation as soon as possible,&rdquo; said Poudel.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&nbsp;</span></span></p>

<p>&nbsp;</p>
',
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			'created' => '2019-10-23',
			'modified' => '2019-10-23',
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			'description' => '',
			'sortorder' => '11325',
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	(int) 11 => array(
		'Article' => array(
			'id' => '11573',
			'article_category_id' => '1',
			'title' => 'Nepal-Bangladesh Trade Talks Begin',
			'sub_title' => '',
			'summary' => 'October 23: The Nepali delegation in a meeting with Bangladesh on the topic of trade discussed the issue of reducing trade deficit with Bangladesh on Tuesday. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 23: The Nepali delegation in a meeting with Bangladesh on the topic of trade discussed the issue of reducing trade deficit with Bangladesh on Tuesday. The two countries also discussed about addressing the problems at the customs points and to facilitate trade between Nepal and Bangladesh. The possibility of trade though waterways was also discussed during the first day of the secretary-level meeting.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Nepali delegation led by Joint-Secretary Nabaraj Dhakal of the Ministry of Industry, Commerce and Supplies, said that Bangladesh has shown interest to invest on hydropower sector of Nepal.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&ldquo;Bangladesh has shown interest to invest in 20 hydropower projects in Nepal,&rdquo; said Dhakal.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Joint Secretary Dhakal confirmed that discussions were held on connectivity, shipment of goods, export and import of food products and energy sector.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">During the meeting, the Nepali side laid emphasis on export of yarn and electricity as well as facilitation of visa process for students pursuing courses in Bangladesh.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Joint Secretary Dhakal said that discussions are being held in line with the agenda set by the council of ministers.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Although Bangladesh had eased the import of yarn since last year, Nepal has not been able to export the product in large quantity. Nepal exported yarn worth Rs 600 million in a period of one year.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Bangladesh has allowed Nepal to export only acrylic yarn, which is not much used in Bangladesh, according to Nepali exporters. Currently, there is high demand for viscous yarn, polyster yarn, and dyed yarn.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Meanwhile, Bangladesh has raised the issue of the ban imposed by Nepal on Bangladeshi soft drinks, especially fruit juice. Last year, Nepal had imposed a ban of importing juice from overseas in order to protect its own industries. This has badly affected the trade of Bangladesh.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The ban was imposed in accordance to the National Trade Deficit Work Plan introduced by the government to reduce trade deficit. Nepal used to be a major market for Bangladeshi company Pran until the ban was enforced. Juice and soft drinks comprised of 39 percent of the total trade with Bangladesh last year. Nepal had imported litchi juice worth Rs 1.68 billion of Pran brand in fiscal year 2017/18.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">During Tuesday&rsquo;s meeting, the two countries also discussed about signing a MoU on ensuring food security. Discussions were also held on recognizing each others&rsquo; labs and on plant quarantine as well.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Nepal has been facing trade deficit with Bangladesh since the last four years. Although the list of items imported from Bangladesh is long, Nepal only exports 10 products to Bangladesh. Nepal&rsquo;s chief export to Bangladesh includes lentil, Dabur Nepal&rsquo;s products, medicinal herbs, cake made from mustard oil, transformers among others. Meanwhile, Nepal imports juice and other drinks, raw jute, milk powder, sugar to name a few products.</span></span></p>

<p>&nbsp;</p>
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	(int) 12 => array(
		'Article' => array(
			'id' => '11572',
			'article_category_id' => '1',
			'title' => 'Police to Present Report of ATM Hacking within 2 weeks',
			'sub_title' => '',
			'summary' => 'October 23: The Metropolitan Police Range, Teku is preparing to submit a report of the August 31 ATM hacking to the District Attorney’s Office within two weeks.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 23: The Metropolitan Police Range, Teku is preparing to submit a report of the August 31 ATM hacking to the District Attorney&rsquo;s Office within two weeks.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">SSP Hobindra Bogati of the police range informed New Business Age that the investigation into the case involving six Chinese nationals and three Nepalis has reached the final stage.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&ldquo;We are preparing to submit a report to the District Attorney&rsquo;s Office within the next two weeks,&rdquo; said Bogati, adding, &ldquo;Then we will submit the report to the Patan High Court.&rdquo;</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The police range has already filed a case against the arrested on the charge of banking offence.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">A group of Chinese nationals had withdrawn more than Rs 17.6 million from ATM is the capital some months ago by hacking the ATMs. The gang was busted on August 31. On the same day, hackers used VISA card to withdraw money of Nepali banks from ATMs in India, according to the information provided by VISA.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Police investigation has found that the hackers withdrew around Rs 11.4 million from Nabil Bank alone. It was found that the hackers bypassed the Nepal Electronic Payment System (NEPS) to steal the money. Following the incident, Nepal Rastra Bank had directed NEPS to adopt alternative measures to secure their system.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">CEO of NEPS Prabin Chhetri said that a forensic report of the investigations carried out by a Singaporean company was supposed to be presented by late November. But the report is likely to be delayed, according to Chhetri.</span></span></p>
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	(int) 13 => array(
		'Article' => array(
			'id' => '11571',
			'article_category_id' => '1',
			'title' => 'Three New Int’l Airlines to Operate Flights to Nepal',
			'sub_title' => '',
			'summary' => 'October 23: With the Visit Nepal Year 2020 just around the corner, three new international airlines will be operating flights to Nepal soon. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 23: With the Visit Nepal Year 2020 just around the corner, three new international airlines will be operating flights to Nepal soon. Kuwait&rsquo;s Jazeera &nbsp;Airways and India&rsquo;s Spice Jet as well as Vistara Air have shown interest to operate flights to Nepal.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Civil Aviation Authority of Nepal (CAAN) has already granted permission to Jazeera &nbsp;Airways and Spice Jet to operate flights to Nepal. CAAN informed New Business Age that the process to approvr Vistara Air&rsquo;s request to operate flights to Nepal is in the final stage.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to CAAN, Spice Jet and Jazeera &nbsp;Airways will start commercial flights to Nepal from the third week of November.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Spice Jet had requested CAAN for operating flights along Kathmandu-New Delhi- Mumbai route while Vistara Air has asked for permission to operate flights along Kathmandu-New Delhi route.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Spice Jet had already acquired permission to operate Kathmandu-New Delhi flights before and now has been granted permission to extend the flights till Mumbai.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">CAAN said that Spice Jet has been allowed to operate flights throughout the week.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Kathmandu is not a new destination for Spice Jet. It had started operating flights to Kathmandu in 2008 but discontinued the service after seven years.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Likewise, Vistara Air, which is owned by India&rsquo;s Tata Group and Singapore Airlines, had submitted a proposal to operate flights to Kathmandu from November itself. But the CAAN is currently studying its proposal.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">After the cash-strapped Jet Airways stopped operating in April, Nepal&rsquo;s flag carrier Nepal Airlines Corporation, Air India and Indigo Airlines have been actively operating flights between Kathmandu and New Delhi. Bhutan&rsquo;s Druk Air also runs one flight a week along this route.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">NAC has been operating 14 flights a week along this route while Indigo Airlines operates 21 flights and Air India 14.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Meanwhile, Kuwait&rsquo;s Jazeera Airways sought permission for operating flights between Kuwait and Nepal after Wataniya Airways of the Gulf country went out of business.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Jazeera Airways had sought permission from CAAN about a month ago and has given the approval just four days ago on October 19. Although it has been granted permission to operate flights throughout the week, the airline will operate flights for four days a week in the initial phase.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Out of the total air passengers visiting Nepal, 25 percent come from New Delhi. &nbsp;</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&nbsp;</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&nbsp;&nbsp;</span></span></p>

<p>&nbsp;</p>
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	(int) 14 => array(
		'Article' => array(
			'id' => '11570',
			'article_category_id' => '1',
			'title' => 'Finance Minister Urges Donor Organisations to Increase Investment ',
			'sub_title' => '',
			'summary' => 'October 22: Finance minister Dr Yuba Raj Khatiwada has urged donor organisations to invest in hydropower, tourism, agriculture, urban infrastructure and other sectors of Nepal. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">October 22: Finance minister Dr Yuba Raj Khatiwada has urged donor organisations to invest in hydropower, tourism, agriculture, urban infrastructure and other sectors of Nepal. In a meeting with senior officials of the International Finance Corporation&#39;s Asia Pacific region, he discussed about the possibilities of Nepal&#39;s economy and urged them to increase investment in Nepal. He further informed the officials that Nepal has already started working in credit rating. </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:&quot;Times New Roman&quot;">He also said that Nepal is well aware about the effects of worldwide slump in economic growth to the foreign employment of Nepal as well as tourism, foreign investment and industrial sector of the country.</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:&quot;Times New Roman&quot;">Meanwhile, at the recent Board of Governors&rsquo; Plenary Session on the second day of the joint annual meeting of the World Bank Group and International Monetary Fund, Minister Khatiwada said that to reduce the gap between investment and savings in Nepal, mobilization of foreign capital is necessary. Moreover, he said that Nepal&rsquo;s capital market is small and it is important to increase it. Stating that the role of the private sector is important in economic development, Minister Khatiwada said that investment sector should be diversified to make the private sector more robust, capable and effective. </span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'id' => '11585',
			'article_category_id' => '266',
			'title' => 'CellPay starts Kiosk Stall Activation',
			'sub_title' => '',
			'summary' => 'October 25: CellPay, an NRB Licensed payment service provider has started its kiosk stall activation from October 25. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri">October 25: CellPay, an NRB Licensed payment service provider has started its kiosk stall activation from October 25. The stall activation is happening at Civil Mall and Labim Mall on October 25 (Friday) and October 26 (Saturday) respectively from 10 am to 5pm. </span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri">The company said in a statement that the activation is aimed to increase interaction with the customers and provide detail information about the how to use CellPay and its benefits.&nbsp; During the activation, CellPay is offering on the spot KYC verification service and free top up of Rs 100 to the customers once their first bank account is linked, the statement added.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri">Users can easily make real time payments for telecom services, electricity, TV, Internet payments, restaurants and fund transfer from one bank to another, domestic remittance, P2P, P2B, B2P, B2B and other services using CellPay. </span></span></p>

<p>&nbsp;</p>
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			'title' => 'Butwal Goes Green with Mahindra Electric Vehicles',
			'sub_title' => '',
			'summary' => 'October 25: Agni Energy Pvt Ltd, a subsidiary of Agni Group and the authorized distributor of Mahindra electric vehicles (EVs), has opened its new showroom of Mahindra electric vehicles at Tillotama, Jogikuti, Butwal on October 24.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;">October 25: Agni Energy Pvt Ltd, a subsidiary of Agni Group and the authorized distributor of Mahindra electric vehicles (EVs), has opened its new showroom of Mahindra electric vehicles at Tillotama, Jogikuti, Butwal on October 24. The company claimed that this is the first Mahindra electric vehicles showroom outside Kathmandu Valley. Till now Mahindra Electric vehicles (EVs) were accessible for consumers of Kathmandu Valley and its surrounding areas only, reads a press statement issued by the company.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;">The company further said that the objective of establishing this new showroom was to provide easy access of EVs to customers of Butwal and its surrounding areas.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;">According to Ajaya Kumar Khati Chhetri, managing director of Butwal-based Green Drive Group, which is a dealer of Agni Energy, the showroom will provide servicing and spare parts of Mahindra&#39;s electric cars such as Mahindra e2o and eVerito. He further said that since more consumers are gravitating towards electric vehicles (EVs) due to overall cost savings compared to vehicles powered by fossil fuels, this showroom will meet their expectation in facilitating such vehicles in their own native place. </span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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			'keywords' => '',
			'description' => '',
			'sortorder' => '11334',
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			'id' => '11581',
			'article_category_id' => '1',
			'title' => 'Government Extends Deadline to get Listed in Social Security Scheme',
			'sub_title' => '',
			'summary' => 'October 25: The government has extended the deadline for private institutions to get enlisted in the Social Security Scheme, an ambitious project that ensures pension and other facilities to employees of the private sector after retirement.  ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 25: The government has extended the deadline for private institutions to get enlisted in the Social Security Scheme, an ambitious project that ensures pension and other facilities to employees of the private sector after retirement.&nbsp; According to the Ministry of Labour, the government decided to extend the deadline by one month after the Social Security Scheme failed to attract the private sector as per the government&rsquo;s expectations.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The government had earlier set the timeframe of mid-October to get enlisted in the government&rsquo;s Social Security Fund after implementing the contributions-based scheme from the current fiscal year.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Organising a press conference on Thursday (October 24), Minister for Labour, Employment and Social Security Gokarna Bista said that the government decided to extend the deadline as per the request from the private sector. He said that the decision was taken as a large number of commercial institutes are yet to get listed in the scheme and the festive season is ongoing.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to the minister, big commercial institutes have demanded for more time to get listed in the scheme.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&ldquo;We extended the deadline to facilitate those who are yet to get listed,&rdquo; said the minister.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">So far, only 8818 employers have been listed in the scheme while the number of contributors is 196,800. The fund has already collected Rs 76.5 million.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Social Security Fund has forwarded its working procedure to the ministry for approval. Once it gets approved, the contributors can benefit from home and educational loans. Workers are currently benefitting from such loans from the Employee Provident Fund. Officials at the fund believe that the employee will be attracted toward this scheme once the working procedure gets approved.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The scheme offers financial security in case of health and maternity emergency, medical expenses, accidents , dependent family members and old-age allowance among others. &nbsp;</span></span></p>
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			'id' => '11582',
			'article_category_id' => '1',
			'title' => 'Jajarkot-Dolpa road to get Blacktopped',
			'sub_title' => '',
			'summary' => 'October 25: The 35-kilometre road section between Jajarkot and Dolpa is finally being blacktopped.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">October 25: The 35-kilometre road section between Jajarkot and Dolpa is finally being blacktopped. The Department of Roads, Chaurjahari informed that the road is being blacktopped with the support from the federal and the provincial governments. </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:&quot;Times New Roman&quot;,&quot;serif&quot;">Narendra Bhatta, chief of local Department of Roads office, said that the federal government will provide budget for blacktopping 28 km road and the provincial government will provide budget for the remaining 7 km. It is estimated that Rs 1 billion and Rs 210 million are required respectively for the completion of the 28 km and 7 km road sections. </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:&quot;Times New Roman&quot;,&quot;serif&quot;">According to Bhatta, the detailed project report (DPR) and environmental impact assessment (EIA) have been already completed. He said the file has been forwarded to the National Planning Commission and the Ministry of Finance for approval. He further informed that the work will be started from the current fiscal year. </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:&quot;Times New Roman&quot;,&quot;serif&quot;">Deputy Mayor of Aathbiskot Municipality, Gita Nepali, said that the decision of blacktopping the road from Chisapani to Radi was taken after relentless effort by the locals. The municipality has already provided the necessary support for blacktopping road, she said. </span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '11583',
			'article_category_id' => '1',
			'title' => 'CDC Invests Rs 1.35 Billion in Worldlink',
			'sub_title' => '',
			'summary' => 'October 25: The British government’s development finance group CDC has invested Rs 1.35 billion in Worldlink, a leading internet service provider in Nepal. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 25: The British government&rsquo;s development finance group CDC has invested Rs 1.35 billion in Worldlink, a leading internet service provider in Nepal. CDC invested the amount to acquire 10 percent share of Worldlink.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">CDC&rsquo;s investment is the first foreign investment in this sector in Nepal. CDC had earlier had provided a loan of US$ 15 million to the NMB Bank for three years.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The finance group has also shown interest to purchase Himalayan Bank&rsquo;s shares owned by Pakistan&rsquo;s Habib Bank. CDC is holding discussions with Himalayan Bank to purchase 20 percent stakes of Habib Bank, which has been a partner since the establishment of Himalayan Bank.</span></span></p>
',
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			'created' => '2019-10-25',
			'modified' => '2019-10-25',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11331',
			'image' => '20191025095641_safenet_banner.jpg',
			'article_date' => '2019-10-25 00:00:00',
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		'Article' => array(
			'id' => '11580',
			'article_category_id' => '1',
			'title' => 'Nepal-Bangladesh to Collaborate for Promotion of Transshipment and Connectivity',
			'sub_title' => '',
			'summary' => 'October 24: Nepal-Bangladesh Trade Talks concluded on Wednesday, October 24.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 24: Nepal-Bangladesh Trade Talks concluded on Wednesday, October 24. The two-day parleys were focused on connectivity and transshipment between the two countries for promoting trade. Both the countries agreed to collaborate for the promotion of business through highways, railways, waterways and airways.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Nawa Raj Dhakal, joint secretary at the Ministry of Industry, Commerce and Supplies as well as the coordinator of the Nepali delegation, said the meeting discussed about preparing a feasibility report on operation of water transportation from Chittagong of Bangladesh to Sahebgunj and Kalughat of India.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Prior to this, Nepal and India had signed an agreement to operate ships with Nepali flag for third country trade via India.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">A member of the Nepali delegation, Premraj Bhandari, said that the meeting also discussed about the possibility of signing a repatriate agreement between Nepal, India and Bangladesh for transshipment through waterways. The two countries will finalize the issue by the next secretarial-level meeting.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Dhakal informed that Bangladesh is in favor of taking necessary steps to arrange proper environment to operate Nepali cargo trucks to Bangladesh. Likewise, the two countries discussed about joint investment, tourism, trade by overcoming the hurdles related to customs.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">During the programme, Nepal urged Bangladesh to minimize extra charges levied by Bangladesh on Nepali agricultural products such as cardamom and ginger among other products.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Dhakal also said that Bangladesh is positive towards solving the visa problems faced by Nepali students to study in Bangladesh.</span></span></p>

<p>&nbsp;</p>
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			'id' => '11578',
			'article_category_id' => '1',
			'title' => 'Nepal Leapfrogs 16 Spots in Doing Business Index',
			'sub_title' => '',
			'summary' => 'October 24: Nepal leapfrogged 16 spots in the Doing Business index of the World Bank as governments of 115 economies around the world launched 294 reforms over the past year .',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 24: Nepal leapfrogged 16&nbsp;spots in the Doing Business index of the World Bank as governments of 115 economies around the world launched 294 reforms over the past year to make doing business easier for their domestic private sector, according to the World Bank Group&rsquo;s Doing Business 2020 report.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">In the annual report of the World Bank released on Thursday (October 24), Nepal jumped to 94th position from 110 among 190 economies worldwide.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">This latest edition of the study documents reforms implemented in 10 areas of business activity over a 12-month period ending May 1, 2019, the World Bank said.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Overall, South Asia was the region with the highest share of economies implementing trade reforms in Doing Business 2020, according to the report.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&ldquo;Trade reforms demonstrate the importance of cross-border cooperation in ensuring easy customs clearance procedures, harmonization of compliance rules, and border control efficiency. Nepal, for example, decreased the time to export and import by opening a new joint border crossing point with India,&rdquo; reads the report.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to the World Bank, the 10 areas measured in the report are: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, and resolving insolvency. One additional area, employing workers, is also measured but is not included in the rankings.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">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></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Dealing with construction permits in Nepal was made easier and less costly by reducing fees for building permits and improving the online e-submissions platform. </span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Nepal also improved the quality of its land administration system by publishing official service standards for delivering updated cadastral maps. &nbsp;Getting credit in Nepal improved with access to credit information by expanding the coverage of the credit bureau. </span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Nepal reduced the time and cost to export and the time to import by opening the Integrated Check Post in Birgunj at the Nepal&ndash;India border. Nepal also made enforcing contracts easier during the revbiew period by adopting a new code of civil procedure that introduces time standards for key court events.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The ten economies where business climates improved the most were Saudi Arabia, Jordan, Togo, Bahrain, Tajikistan, Pakistan, Kuwait, China, India, and Nigeria, the study found. China and Togo appear among the top ten for the second consecutive year, while India makes the list for the third consecutive year, indicating that business regulatory reform is a multi-year process. Bahrain implemented the highest number of reforms, improving in nine out of ten areas measured by the report. China and Saudi Arabia followed with eight reforms each.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The top performers typically had online business incorporation processes, electronic tax filing platforms, and online procedures for property transfers.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Since its inception in 2003, more than 3,500 business reforms have been carried out in 186 of the 190 economies Doing Business monitors.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>

<p>&nbsp;</p>
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			'id' => '11579',
			'article_category_id' => '1',
			'title' => 'IPPAN Power Summit in November',
			'sub_title' => '',
			'summary' => 'October 24: The Independent Power Producers Association Nepal (IPPAN) is all set to organize Power Summit 2019 in November. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 24: The Independent Power Producers Association Nepal (IPPAN) is all set to organize Power Summit 2019 in November. IPPAN claimed that investors from India and Bangladesh will attend the two-day summit on November 21 and 22 where stakeholders will sign agreements to develop 25,000 megawatts of electricity in Nepal.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to IPPAN, Nepal is likely to sign agreement for developing 15,600 megawatts of electricity with India and 9000 megawatts of electricity with Bangladesh.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">IPPAN President Shailendra Guragain said that Bangladesh has already announced to import 9000 megawatts of electricity from Nepal while India has unveiled its plan to import 15600 megawatts of electricity.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&ldquo;Both countries are ready to invest in hydropower sector of Nepal. We are now planning to sign agreements in this regard,&rdquo; said Guragain.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">A delegation led by IPPAN had toured India and Bangladesh some months ago. During the visit, government agencies and private sector of both the countries had expressed their willingness to invest in the hydropower sector of Nepal, according to Guragain. He further said that Indian authorities were willing to pay Rs 6.4 and Bangladesh Rs 11.3 to purchase electricity from Nepal.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">IPPAN General Secretary Ashish Garg said that India and Bangladesh have enacted laws to allow its private sector to invest in hydropower sector of foreign countries.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&nbsp;</span></span></p>
',
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			'created' => '2019-10-24',
			'modified' => '2019-10-24',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11328',
			'image' => '20191024013250_Power-Summit-2019 (1).jpg',
			'article_date' => '2019-10-24 00:00:00',
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	(int) 8 => array(
		'Article' => array(
			'id' => '11577',
			'article_category_id' => '1',
			'title' => 'Remittance Slumps after 19 months',
			'sub_title' => '',
			'summary' => 'October 24: The inflow of remittance to Nepal has shrunk once again after 19 months.  ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 24: The inflow of remittance to Nepal has shrunk once again after 19 months. &nbsp;A report released by Nepal Rastra Bank on Wednesday states that remittance decreased by 0.3 percent to Rs 153.73 billion in mid-September this year compared to the corresponding period of last year. The Current Macroeconomic and Financial Situation of Nepal unveiled by the central banks states that remittance had increased by 33.4 percent in the same period of the previous year.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The last time that the inflow of remittance had slumped was in December 2017.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Stakeholders have attributed the decrease in remittance to the significant reduction in the number of Nepali migrant workers leaving for foreign employment last year. Its effects are clearly visible in the decrease in remittance, according to people who are involved in the foreign employment sector.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Meanwhile, Deputy Governor of Nepal Rastra Bank Chintamani Shivakoti said remittance is subject to fluctuation, which quite normal.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&ldquo;The foreign exchange rate had reduced in mid-September due to which inflow of remittance might have been affected,&rdquo; said Shivakoti.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&ldquo;Looking at the past trend, remittance increases after mid-September during Dashain and other festivals,&rdquo; he added.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&nbsp;In the first two months of 2019/20, merchandise imports decreased 1.2 percent to Rs 229.50 billion against an increase of 38.5 percent in the same period of the previous year.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Destination-wise, imports from China increased 39.2 percent whereas imports from India, and other countries decreased 2 percent and 19.8 percent respectively. Commodity-wise, import of readymade garments, crude palm oil, other machinery and parts, hot rolled sheet, chemical fertilizer, among others, increased whereas imports of aircraft spareparts, MS billet, gold, petroleum product, cement, among others, decreased in the review period.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Likewise, the country&rsquo;s merchandise export increased by 25.9 percent to Rs 18.5 billion compared to an increase of 8 percent a year ago. Destination-wise, exports to India and other countries increased 46 percent and 0.6 percent respectively whereas exports to China decreased 17.4 percent. Mainly exports of palm oil, cardamom, jute goods, yarn (polyester and other), textiles, among others, increased whereas exports of zinc sheet, juice, wire, readymade garment, pashmina, among others, decreased in the review period.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to the central bank, Nepal&rsquo;s total trade deficit narrowed 3.1 percent to Rs 211 billion in the two months of 2019/20. The export-import ratio increased to 8.1 percent in the review period from 6.3 percent in the corresponding period of the previous year.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Meanwhile, the year-on-year consumer price inflation stood at 6.16 percent in mid-September 2019 compared to 3.86 percent a year ago. Food and beverage inflation stood at 6.51 percent whereas non-food and service inflation stood at 5.89 percent in the review month.</span></span></p>
',
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			'created' => '2019-10-24',
			'modified' => '2019-10-25',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11327',
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			'article_date' => '2019-10-24 00:00:00',
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	(int) 9 => array(
		'Article' => array(
			'id' => '11576',
			'article_category_id' => '1',
			'title' => 'Concept of Flight School in Nepal in Limbo ',
			'sub_title' => '',
			'summary' => 'October 23: The government’s plan to operate a flight school in Public Private Partnership (PPP) model for the generating human resource in the aviation sector is in limbo. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">October 23: The government&rsquo;s plan to operate a flight school in Public Private Partnership (PPP) model for the generating human resource in the aviation sector is in limbo. The plan could not progress due to lack of interest by the private sector. </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:&quot;Times New Roman&quot;">Minister of Culture, Tourism and Civil Aviation Yogesh Bhattarai had proposed to establish a flight school in Nepal as there is shortage of pilot globally and the numbers of airline companies are increasing in Nepal. Bhattarai had presented the concept of opening a school in collaboration with the private sector a few months ago. However, private sector does not seem to be much interested, said the minister. </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:&quot;Times New Roman&quot;">In the budget announcement for the current fiscal year, the government has stated that it will encourage partnership and cooperation with the private sector for the construction, development and management of aviation infrastructure in the country. Nepali youths are obliged to go abroad for pilot training paying exorbitant price. </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:&quot;Times New Roman&quot;">To end this trend, Minister Bhattarai had put forward the idea of establishing a flight school in Nepal itself. However, no concrete steps have been taken to this end except for the concept put forward by the minister.</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:&quot;Times New Roman&quot;">According to Suresh Acharya, joint secretary at the ministry, the matter is still under discussion. </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:&quot;Times New Roman&quot;">A few years ago, a flight school named Shibani Air came into operation in Nepal but it was shut down before it could take wings. </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:&quot;Times New Roman&quot;">Birendra Bahadur Basnet, managing director of Buddha Air, says that there is no guarantee that opening a school will be viable in the long run if such pilot training institutes are opened only to meet the immediate demands. He further says that although the idea sounds attractive, a flight school cannot sustain with the demand within the domestic market. Manager of Shree Airlines, Anil Manandhar, also says sustaining the proposed school might be a problem due to the limited demand. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;">According to Airlines Operators Association of Nepal, around 30 youths go abroad for pilot training every year. As per the association, around 200 Nepali youths are studying pilot courses in different institutes abroad. Nepali youths are going to the US, France and South Africa to pursue pilot course. It costs Rs 6.5 million to 8.5 million to complete the pilot course. </span></span></p>
',
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			'created' => '2019-10-23',
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	(int) 10 => array(
		'Article' => array(
			'id' => '11575',
			'article_category_id' => '1',
			'title' => 'Insurance Information Centre in the Offing',
			'sub_title' => '',
			'summary' => 'October 23: The Insurance Board Nepal is all set to establish Insurance Information Centre to curb fraudulent activities in the insurance sector. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 23: The Insurance Board Nepal is all set to establish Insurance Information Centre to curb fraudulent activities in the insurance sector. The board has initiated the process to form the information centre in collaboration with insurance companies.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The board said it has already held discussions with the chiefs of all insurance companies and that the companies have shown interest to invest in shares of the information centre.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Currently, there are 10 life insurance companies in Nepal, 20 non-life insurance companies and one re-insurance company.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">It has been learnt that the information centre will be formed with a total capital of Rs 4.3 million by collecting Rs 100,000 for shares from each insurance company. The insurance board will invest Rs 300,000 for the establishment of the centre.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Insurance Bill 2075, which is currently in parliament for discussion, has also envisaged an insurance information centre. However, the board has already initiated the process to establish the information centre although the bill is yet to be approved.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Executive Director of the Insurance Board Nepal, Raju Raman Poudel, said that the board will set up the information centre within this year.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&ldquo;At present, we are discussing on the working procedure and setting up the funds. We are trying our best to bring the information centre into operation as soon as possible,&rdquo; said Poudel.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&nbsp;</span></span></p>

<p>&nbsp;</p>
',
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			'created' => '2019-10-23',
			'modified' => '2019-10-23',
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			'description' => '',
			'sortorder' => '11325',
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	(int) 11 => array(
		'Article' => array(
			'id' => '11573',
			'article_category_id' => '1',
			'title' => 'Nepal-Bangladesh Trade Talks Begin',
			'sub_title' => '',
			'summary' => 'October 23: The Nepali delegation in a meeting with Bangladesh on the topic of trade discussed the issue of reducing trade deficit with Bangladesh on Tuesday. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 23: The Nepali delegation in a meeting with Bangladesh on the topic of trade discussed the issue of reducing trade deficit with Bangladesh on Tuesday. The two countries also discussed about addressing the problems at the customs points and to facilitate trade between Nepal and Bangladesh. The possibility of trade though waterways was also discussed during the first day of the secretary-level meeting.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Nepali delegation led by Joint-Secretary Nabaraj Dhakal of the Ministry of Industry, Commerce and Supplies, said that Bangladesh has shown interest to invest on hydropower sector of Nepal.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&ldquo;Bangladesh has shown interest to invest in 20 hydropower projects in Nepal,&rdquo; said Dhakal.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Joint Secretary Dhakal confirmed that discussions were held on connectivity, shipment of goods, export and import of food products and energy sector.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">During the meeting, the Nepali side laid emphasis on export of yarn and electricity as well as facilitation of visa process for students pursuing courses in Bangladesh.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Joint Secretary Dhakal said that discussions are being held in line with the agenda set by the council of ministers.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Although Bangladesh had eased the import of yarn since last year, Nepal has not been able to export the product in large quantity. Nepal exported yarn worth Rs 600 million in a period of one year.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Bangladesh has allowed Nepal to export only acrylic yarn, which is not much used in Bangladesh, according to Nepali exporters. Currently, there is high demand for viscous yarn, polyster yarn, and dyed yarn.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Meanwhile, Bangladesh has raised the issue of the ban imposed by Nepal on Bangladeshi soft drinks, especially fruit juice. Last year, Nepal had imposed a ban of importing juice from overseas in order to protect its own industries. This has badly affected the trade of Bangladesh.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The ban was imposed in accordance to the National Trade Deficit Work Plan introduced by the government to reduce trade deficit. Nepal used to be a major market for Bangladeshi company Pran until the ban was enforced. Juice and soft drinks comprised of 39 percent of the total trade with Bangladesh last year. Nepal had imported litchi juice worth Rs 1.68 billion of Pran brand in fiscal year 2017/18.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">During Tuesday&rsquo;s meeting, the two countries also discussed about signing a MoU on ensuring food security. Discussions were also held on recognizing each others&rsquo; labs and on plant quarantine as well.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Nepal has been facing trade deficit with Bangladesh since the last four years. Although the list of items imported from Bangladesh is long, Nepal only exports 10 products to Bangladesh. Nepal&rsquo;s chief export to Bangladesh includes lentil, Dabur Nepal&rsquo;s products, medicinal herbs, cake made from mustard oil, transformers among others. Meanwhile, Nepal imports juice and other drinks, raw jute, milk powder, sugar to name a few products.</span></span></p>

<p>&nbsp;</p>
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	(int) 12 => array(
		'Article' => array(
			'id' => '11572',
			'article_category_id' => '1',
			'title' => 'Police to Present Report of ATM Hacking within 2 weeks',
			'sub_title' => '',
			'summary' => 'October 23: The Metropolitan Police Range, Teku is preparing to submit a report of the August 31 ATM hacking to the District Attorney’s Office within two weeks.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 23: The Metropolitan Police Range, Teku is preparing to submit a report of the August 31 ATM hacking to the District Attorney&rsquo;s Office within two weeks.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">SSP Hobindra Bogati of the police range informed New Business Age that the investigation into the case involving six Chinese nationals and three Nepalis has reached the final stage.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&ldquo;We are preparing to submit a report to the District Attorney&rsquo;s Office within the next two weeks,&rdquo; said Bogati, adding, &ldquo;Then we will submit the report to the Patan High Court.&rdquo;</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The police range has already filed a case against the arrested on the charge of banking offence.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">A group of Chinese nationals had withdrawn more than Rs 17.6 million from ATM is the capital some months ago by hacking the ATMs. The gang was busted on August 31. On the same day, hackers used VISA card to withdraw money of Nepali banks from ATMs in India, according to the information provided by VISA.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Police investigation has found that the hackers withdrew around Rs 11.4 million from Nabil Bank alone. It was found that the hackers bypassed the Nepal Electronic Payment System (NEPS) to steal the money. Following the incident, Nepal Rastra Bank had directed NEPS to adopt alternative measures to secure their system.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">CEO of NEPS Prabin Chhetri said that a forensic report of the investigations carried out by a Singaporean company was supposed to be presented by late November. But the report is likely to be delayed, according to Chhetri.</span></span></p>
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	(int) 13 => array(
		'Article' => array(
			'id' => '11571',
			'article_category_id' => '1',
			'title' => 'Three New Int’l Airlines to Operate Flights to Nepal',
			'sub_title' => '',
			'summary' => 'October 23: With the Visit Nepal Year 2020 just around the corner, three new international airlines will be operating flights to Nepal soon. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 23: With the Visit Nepal Year 2020 just around the corner, three new international airlines will be operating flights to Nepal soon. Kuwait&rsquo;s Jazeera &nbsp;Airways and India&rsquo;s Spice Jet as well as Vistara Air have shown interest to operate flights to Nepal.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Civil Aviation Authority of Nepal (CAAN) has already granted permission to Jazeera &nbsp;Airways and Spice Jet to operate flights to Nepal. CAAN informed New Business Age that the process to approvr Vistara Air&rsquo;s request to operate flights to Nepal is in the final stage.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to CAAN, Spice Jet and Jazeera &nbsp;Airways will start commercial flights to Nepal from the third week of November.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Spice Jet had requested CAAN for operating flights along Kathmandu-New Delhi- Mumbai route while Vistara Air has asked for permission to operate flights along Kathmandu-New Delhi route.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Spice Jet had already acquired permission to operate Kathmandu-New Delhi flights before and now has been granted permission to extend the flights till Mumbai.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">CAAN said that Spice Jet has been allowed to operate flights throughout the week.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Kathmandu is not a new destination for Spice Jet. It had started operating flights to Kathmandu in 2008 but discontinued the service after seven years.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Likewise, Vistara Air, which is owned by India&rsquo;s Tata Group and Singapore Airlines, had submitted a proposal to operate flights to Kathmandu from November itself. But the CAAN is currently studying its proposal.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">After the cash-strapped Jet Airways stopped operating in April, Nepal&rsquo;s flag carrier Nepal Airlines Corporation, Air India and Indigo Airlines have been actively operating flights between Kathmandu and New Delhi. Bhutan&rsquo;s Druk Air also runs one flight a week along this route.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">NAC has been operating 14 flights a week along this route while Indigo Airlines operates 21 flights and Air India 14.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Meanwhile, Kuwait&rsquo;s Jazeera Airways sought permission for operating flights between Kuwait and Nepal after Wataniya Airways of the Gulf country went out of business.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Jazeera Airways had sought permission from CAAN about a month ago and has given the approval just four days ago on October 19. Although it has been granted permission to operate flights throughout the week, the airline will operate flights for four days a week in the initial phase.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Out of the total air passengers visiting Nepal, 25 percent come from New Delhi. &nbsp;</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&nbsp;</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&nbsp;&nbsp;</span></span></p>

<p>&nbsp;</p>
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	(int) 14 => array(
		'Article' => array(
			'id' => '11570',
			'article_category_id' => '1',
			'title' => 'Finance Minister Urges Donor Organisations to Increase Investment ',
			'sub_title' => '',
			'summary' => 'October 22: Finance minister Dr Yuba Raj Khatiwada has urged donor organisations to invest in hydropower, tourism, agriculture, urban infrastructure and other sectors of Nepal. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">October 22: Finance minister Dr Yuba Raj Khatiwada has urged donor organisations to invest in hydropower, tourism, agriculture, urban infrastructure and other sectors of Nepal. In a meeting with senior officials of the International Finance Corporation&#39;s Asia Pacific region, he discussed about the possibilities of Nepal&#39;s economy and urged them to increase investment in Nepal. He further informed the officials that Nepal has already started working in credit rating. </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:&quot;Times New Roman&quot;">He also said that Nepal is well aware about the effects of worldwide slump in economic growth to the foreign employment of Nepal as well as tourism, foreign investment and industrial sector of the country.</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:&quot;Times New Roman&quot;">Meanwhile, at the recent Board of Governors&rsquo; Plenary Session on the second day of the joint annual meeting of the World Bank Group and International Monetary Fund, Minister Khatiwada said that to reduce the gap between investment and savings in Nepal, mobilization of foreign capital is necessary. Moreover, he said that Nepal&rsquo;s capital market is small and it is important to increase it. Stating that the role of the private sector is important in economic development, Minister Khatiwada said that investment sector should be diversified to make the private sector more robust, capable and effective. </span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'id' => '11585',
			'article_category_id' => '266',
			'title' => 'CellPay starts Kiosk Stall Activation',
			'sub_title' => '',
			'summary' => 'October 25: CellPay, an NRB Licensed payment service provider has started its kiosk stall activation from October 25. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri">October 25: CellPay, an NRB Licensed payment service provider has started its kiosk stall activation from October 25. The stall activation is happening at Civil Mall and Labim Mall on October 25 (Friday) and October 26 (Saturday) respectively from 10 am to 5pm. </span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri">The company said in a statement that the activation is aimed to increase interaction with the customers and provide detail information about the how to use CellPay and its benefits.&nbsp; During the activation, CellPay is offering on the spot KYC verification service and free top up of Rs 100 to the customers once their first bank account is linked, the statement added.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri">Users can easily make real time payments for telecom services, electricity, TV, Internet payments, restaurants and fund transfer from one bank to another, domestic remittance, P2P, P2B, B2P, B2B and other services using CellPay. </span></span></p>

<p>&nbsp;</p>
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			'title' => 'Butwal Goes Green with Mahindra Electric Vehicles',
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			'summary' => 'October 25: Agni Energy Pvt Ltd, a subsidiary of Agni Group and the authorized distributor of Mahindra electric vehicles (EVs), has opened its new showroom of Mahindra electric vehicles at Tillotama, Jogikuti, Butwal on October 24.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;">October 25: Agni Energy Pvt Ltd, a subsidiary of Agni Group and the authorized distributor of Mahindra electric vehicles (EVs), has opened its new showroom of Mahindra electric vehicles at Tillotama, Jogikuti, Butwal on October 24. The company claimed that this is the first Mahindra electric vehicles showroom outside Kathmandu Valley. Till now Mahindra Electric vehicles (EVs) were accessible for consumers of Kathmandu Valley and its surrounding areas only, reads a press statement issued by the company.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;">The company further said that the objective of establishing this new showroom was to provide easy access of EVs to customers of Butwal and its surrounding areas.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;">According to Ajaya Kumar Khati Chhetri, managing director of Butwal-based Green Drive Group, which is a dealer of Agni Energy, the showroom will provide servicing and spare parts of Mahindra&#39;s electric cars such as Mahindra e2o and eVerito. He further said that since more consumers are gravitating towards electric vehicles (EVs) due to overall cost savings compared to vehicles powered by fossil fuels, this showroom will meet their expectation in facilitating such vehicles in their own native place. </span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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			'sortorder' => '11334',
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			'id' => '11581',
			'article_category_id' => '1',
			'title' => 'Government Extends Deadline to get Listed in Social Security Scheme',
			'sub_title' => '',
			'summary' => 'October 25: The government has extended the deadline for private institutions to get enlisted in the Social Security Scheme, an ambitious project that ensures pension and other facilities to employees of the private sector after retirement.  ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 25: The government has extended the deadline for private institutions to get enlisted in the Social Security Scheme, an ambitious project that ensures pension and other facilities to employees of the private sector after retirement.&nbsp; According to the Ministry of Labour, the government decided to extend the deadline by one month after the Social Security Scheme failed to attract the private sector as per the government&rsquo;s expectations.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The government had earlier set the timeframe of mid-October to get enlisted in the government&rsquo;s Social Security Fund after implementing the contributions-based scheme from the current fiscal year.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Organising a press conference on Thursday (October 24), Minister for Labour, Employment and Social Security Gokarna Bista said that the government decided to extend the deadline as per the request from the private sector. He said that the decision was taken as a large number of commercial institutes are yet to get listed in the scheme and the festive season is ongoing.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to the minister, big commercial institutes have demanded for more time to get listed in the scheme.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&ldquo;We extended the deadline to facilitate those who are yet to get listed,&rdquo; said the minister.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">So far, only 8818 employers have been listed in the scheme while the number of contributors is 196,800. The fund has already collected Rs 76.5 million.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Social Security Fund has forwarded its working procedure to the ministry for approval. Once it gets approved, the contributors can benefit from home and educational loans. Workers are currently benefitting from such loans from the Employee Provident Fund. Officials at the fund believe that the employee will be attracted toward this scheme once the working procedure gets approved.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The scheme offers financial security in case of health and maternity emergency, medical expenses, accidents , dependent family members and old-age allowance among others. &nbsp;</span></span></p>
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			'id' => '11582',
			'article_category_id' => '1',
			'title' => 'Jajarkot-Dolpa road to get Blacktopped',
			'sub_title' => '',
			'summary' => 'October 25: The 35-kilometre road section between Jajarkot and Dolpa is finally being blacktopped.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">October 25: The 35-kilometre road section between Jajarkot and Dolpa is finally being blacktopped. The Department of Roads, Chaurjahari informed that the road is being blacktopped with the support from the federal and the provincial governments. </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:&quot;Times New Roman&quot;,&quot;serif&quot;">Narendra Bhatta, chief of local Department of Roads office, said that the federal government will provide budget for blacktopping 28 km road and the provincial government will provide budget for the remaining 7 km. It is estimated that Rs 1 billion and Rs 210 million are required respectively for the completion of the 28 km and 7 km road sections. </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:&quot;Times New Roman&quot;,&quot;serif&quot;">According to Bhatta, the detailed project report (DPR) and environmental impact assessment (EIA) have been already completed. He said the file has been forwarded to the National Planning Commission and the Ministry of Finance for approval. He further informed that the work will be started from the current fiscal year. </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:&quot;Times New Roman&quot;,&quot;serif&quot;">Deputy Mayor of Aathbiskot Municipality, Gita Nepali, said that the decision of blacktopping the road from Chisapani to Radi was taken after relentless effort by the locals. The municipality has already provided the necessary support for blacktopping road, she said. </span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '11583',
			'article_category_id' => '1',
			'title' => 'CDC Invests Rs 1.35 Billion in Worldlink',
			'sub_title' => '',
			'summary' => 'October 25: The British government’s development finance group CDC has invested Rs 1.35 billion in Worldlink, a leading internet service provider in Nepal. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 25: The British government&rsquo;s development finance group CDC has invested Rs 1.35 billion in Worldlink, a leading internet service provider in Nepal. CDC invested the amount to acquire 10 percent share of Worldlink.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">CDC&rsquo;s investment is the first foreign investment in this sector in Nepal. CDC had earlier had provided a loan of US$ 15 million to the NMB Bank for three years.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The finance group has also shown interest to purchase Himalayan Bank&rsquo;s shares owned by Pakistan&rsquo;s Habib Bank. CDC is holding discussions with Himalayan Bank to purchase 20 percent stakes of Habib Bank, which has been a partner since the establishment of Himalayan Bank.</span></span></p>
',
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			'created' => '2019-10-25',
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			'keywords' => '',
			'description' => '',
			'sortorder' => '11331',
			'image' => '20191025095641_safenet_banner.jpg',
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		'Article' => array(
			'id' => '11580',
			'article_category_id' => '1',
			'title' => 'Nepal-Bangladesh to Collaborate for Promotion of Transshipment and Connectivity',
			'sub_title' => '',
			'summary' => 'October 24: Nepal-Bangladesh Trade Talks concluded on Wednesday, October 24.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 24: Nepal-Bangladesh Trade Talks concluded on Wednesday, October 24. The two-day parleys were focused on connectivity and transshipment between the two countries for promoting trade. Both the countries agreed to collaborate for the promotion of business through highways, railways, waterways and airways.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Nawa Raj Dhakal, joint secretary at the Ministry of Industry, Commerce and Supplies as well as the coordinator of the Nepali delegation, said the meeting discussed about preparing a feasibility report on operation of water transportation from Chittagong of Bangladesh to Sahebgunj and Kalughat of India.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Prior to this, Nepal and India had signed an agreement to operate ships with Nepali flag for third country trade via India.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">A member of the Nepali delegation, Premraj Bhandari, said that the meeting also discussed about the possibility of signing a repatriate agreement between Nepal, India and Bangladesh for transshipment through waterways. The two countries will finalize the issue by the next secretarial-level meeting.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Dhakal informed that Bangladesh is in favor of taking necessary steps to arrange proper environment to operate Nepali cargo trucks to Bangladesh. Likewise, the two countries discussed about joint investment, tourism, trade by overcoming the hurdles related to customs.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">During the programme, Nepal urged Bangladesh to minimize extra charges levied by Bangladesh on Nepali agricultural products such as cardamom and ginger among other products.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Dhakal also said that Bangladesh is positive towards solving the visa problems faced by Nepali students to study in Bangladesh.</span></span></p>

<p>&nbsp;</p>
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			'id' => '11578',
			'article_category_id' => '1',
			'title' => 'Nepal Leapfrogs 16 Spots in Doing Business Index',
			'sub_title' => '',
			'summary' => 'October 24: Nepal leapfrogged 16 spots in the Doing Business index of the World Bank as governments of 115 economies around the world launched 294 reforms over the past year .',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 24: Nepal leapfrogged 16&nbsp;spots in the Doing Business index of the World Bank as governments of 115 economies around the world launched 294 reforms over the past year to make doing business easier for their domestic private sector, according to the World Bank Group&rsquo;s Doing Business 2020 report.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">In the annual report of the World Bank released on Thursday (October 24), Nepal jumped to 94th position from 110 among 190 economies worldwide.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">This latest edition of the study documents reforms implemented in 10 areas of business activity over a 12-month period ending May 1, 2019, the World Bank said.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Overall, South Asia was the region with the highest share of economies implementing trade reforms in Doing Business 2020, according to the report.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&ldquo;Trade reforms demonstrate the importance of cross-border cooperation in ensuring easy customs clearance procedures, harmonization of compliance rules, and border control efficiency. Nepal, for example, decreased the time to export and import by opening a new joint border crossing point with India,&rdquo; reads the report.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to the World Bank, the 10 areas measured in the report are: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, and resolving insolvency. One additional area, employing workers, is also measured but is not included in the rankings.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">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></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Dealing with construction permits in Nepal was made easier and less costly by reducing fees for building permits and improving the online e-submissions platform. </span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Nepal also improved the quality of its land administration system by publishing official service standards for delivering updated cadastral maps. &nbsp;Getting credit in Nepal improved with access to credit information by expanding the coverage of the credit bureau. </span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Nepal reduced the time and cost to export and the time to import by opening the Integrated Check Post in Birgunj at the Nepal&ndash;India border. Nepal also made enforcing contracts easier during the revbiew period by adopting a new code of civil procedure that introduces time standards for key court events.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The ten economies where business climates improved the most were Saudi Arabia, Jordan, Togo, Bahrain, Tajikistan, Pakistan, Kuwait, China, India, and Nigeria, the study found. China and Togo appear among the top ten for the second consecutive year, while India makes the list for the third consecutive year, indicating that business regulatory reform is a multi-year process. Bahrain implemented the highest number of reforms, improving in nine out of ten areas measured by the report. China and Saudi Arabia followed with eight reforms each.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The top performers typically had online business incorporation processes, electronic tax filing platforms, and online procedures for property transfers.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Since its inception in 2003, more than 3,500 business reforms have been carried out in 186 of the 190 economies Doing Business monitors.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>

<p>&nbsp;</p>
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			'id' => '11579',
			'article_category_id' => '1',
			'title' => 'IPPAN Power Summit in November',
			'sub_title' => '',
			'summary' => 'October 24: The Independent Power Producers Association Nepal (IPPAN) is all set to organize Power Summit 2019 in November. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 24: The Independent Power Producers Association Nepal (IPPAN) is all set to organize Power Summit 2019 in November. IPPAN claimed that investors from India and Bangladesh will attend the two-day summit on November 21 and 22 where stakeholders will sign agreements to develop 25,000 megawatts of electricity in Nepal.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to IPPAN, Nepal is likely to sign agreement for developing 15,600 megawatts of electricity with India and 9000 megawatts of electricity with Bangladesh.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">IPPAN President Shailendra Guragain said that Bangladesh has already announced to import 9000 megawatts of electricity from Nepal while India has unveiled its plan to import 15600 megawatts of electricity.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&ldquo;Both countries are ready to invest in hydropower sector of Nepal. We are now planning to sign agreements in this regard,&rdquo; said Guragain.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">A delegation led by IPPAN had toured India and Bangladesh some months ago. During the visit, government agencies and private sector of both the countries had expressed their willingness to invest in the hydropower sector of Nepal, according to Guragain. He further said that Indian authorities were willing to pay Rs 6.4 and Bangladesh Rs 11.3 to purchase electricity from Nepal.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">IPPAN General Secretary Ashish Garg said that India and Bangladesh have enacted laws to allow its private sector to invest in hydropower sector of foreign countries.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&nbsp;</span></span></p>
',
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			'created' => '2019-10-24',
			'modified' => '2019-10-24',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11328',
			'image' => '20191024013250_Power-Summit-2019 (1).jpg',
			'article_date' => '2019-10-24 00:00:00',
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	(int) 8 => array(
		'Article' => array(
			'id' => '11577',
			'article_category_id' => '1',
			'title' => 'Remittance Slumps after 19 months',
			'sub_title' => '',
			'summary' => 'October 24: The inflow of remittance to Nepal has shrunk once again after 19 months.  ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 24: The inflow of remittance to Nepal has shrunk once again after 19 months. &nbsp;A report released by Nepal Rastra Bank on Wednesday states that remittance decreased by 0.3 percent to Rs 153.73 billion in mid-September this year compared to the corresponding period of last year. The Current Macroeconomic and Financial Situation of Nepal unveiled by the central banks states that remittance had increased by 33.4 percent in the same period of the previous year.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The last time that the inflow of remittance had slumped was in December 2017.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Stakeholders have attributed the decrease in remittance to the significant reduction in the number of Nepali migrant workers leaving for foreign employment last year. Its effects are clearly visible in the decrease in remittance, according to people who are involved in the foreign employment sector.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Meanwhile, Deputy Governor of Nepal Rastra Bank Chintamani Shivakoti said remittance is subject to fluctuation, which quite normal.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&ldquo;The foreign exchange rate had reduced in mid-September due to which inflow of remittance might have been affected,&rdquo; said Shivakoti.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&ldquo;Looking at the past trend, remittance increases after mid-September during Dashain and other festivals,&rdquo; he added.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&nbsp;In the first two months of 2019/20, merchandise imports decreased 1.2 percent to Rs 229.50 billion against an increase of 38.5 percent in the same period of the previous year.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Destination-wise, imports from China increased 39.2 percent whereas imports from India, and other countries decreased 2 percent and 19.8 percent respectively. Commodity-wise, import of readymade garments, crude palm oil, other machinery and parts, hot rolled sheet, chemical fertilizer, among others, increased whereas imports of aircraft spareparts, MS billet, gold, petroleum product, cement, among others, decreased in the review period.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Likewise, the country&rsquo;s merchandise export increased by 25.9 percent to Rs 18.5 billion compared to an increase of 8 percent a year ago. Destination-wise, exports to India and other countries increased 46 percent and 0.6 percent respectively whereas exports to China decreased 17.4 percent. Mainly exports of palm oil, cardamom, jute goods, yarn (polyester and other), textiles, among others, increased whereas exports of zinc sheet, juice, wire, readymade garment, pashmina, among others, decreased in the review period.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to the central bank, Nepal&rsquo;s total trade deficit narrowed 3.1 percent to Rs 211 billion in the two months of 2019/20. The export-import ratio increased to 8.1 percent in the review period from 6.3 percent in the corresponding period of the previous year.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Meanwhile, the year-on-year consumer price inflation stood at 6.16 percent in mid-September 2019 compared to 3.86 percent a year ago. Food and beverage inflation stood at 6.51 percent whereas non-food and service inflation stood at 5.89 percent in the review month.</span></span></p>
',
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			'created' => '2019-10-24',
			'modified' => '2019-10-25',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11327',
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			'article_date' => '2019-10-24 00:00:00',
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	(int) 9 => array(
		'Article' => array(
			'id' => '11576',
			'article_category_id' => '1',
			'title' => 'Concept of Flight School in Nepal in Limbo ',
			'sub_title' => '',
			'summary' => 'October 23: The government’s plan to operate a flight school in Public Private Partnership (PPP) model for the generating human resource in the aviation sector is in limbo. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">October 23: The government&rsquo;s plan to operate a flight school in Public Private Partnership (PPP) model for the generating human resource in the aviation sector is in limbo. The plan could not progress due to lack of interest by the private sector. </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:&quot;Times New Roman&quot;">Minister of Culture, Tourism and Civil Aviation Yogesh Bhattarai had proposed to establish a flight school in Nepal as there is shortage of pilot globally and the numbers of airline companies are increasing in Nepal. Bhattarai had presented the concept of opening a school in collaboration with the private sector a few months ago. However, private sector does not seem to be much interested, said the minister. </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:&quot;Times New Roman&quot;">In the budget announcement for the current fiscal year, the government has stated that it will encourage partnership and cooperation with the private sector for the construction, development and management of aviation infrastructure in the country. Nepali youths are obliged to go abroad for pilot training paying exorbitant price. </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:&quot;Times New Roman&quot;">To end this trend, Minister Bhattarai had put forward the idea of establishing a flight school in Nepal itself. However, no concrete steps have been taken to this end except for the concept put forward by the minister.</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:&quot;Times New Roman&quot;">According to Suresh Acharya, joint secretary at the ministry, the matter is still under discussion. </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:&quot;Times New Roman&quot;">A few years ago, a flight school named Shibani Air came into operation in Nepal but it was shut down before it could take wings. </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:&quot;Times New Roman&quot;">Birendra Bahadur Basnet, managing director of Buddha Air, says that there is no guarantee that opening a school will be viable in the long run if such pilot training institutes are opened only to meet the immediate demands. He further says that although the idea sounds attractive, a flight school cannot sustain with the demand within the domestic market. Manager of Shree Airlines, Anil Manandhar, also says sustaining the proposed school might be a problem due to the limited demand. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;">According to Airlines Operators Association of Nepal, around 30 youths go abroad for pilot training every year. As per the association, around 200 Nepali youths are studying pilot courses in different institutes abroad. Nepali youths are going to the US, France and South Africa to pursue pilot course. It costs Rs 6.5 million to 8.5 million to complete the pilot course. </span></span></p>
',
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			'created' => '2019-10-23',
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	(int) 10 => array(
		'Article' => array(
			'id' => '11575',
			'article_category_id' => '1',
			'title' => 'Insurance Information Centre in the Offing',
			'sub_title' => '',
			'summary' => 'October 23: The Insurance Board Nepal is all set to establish Insurance Information Centre to curb fraudulent activities in the insurance sector. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 23: The Insurance Board Nepal is all set to establish Insurance Information Centre to curb fraudulent activities in the insurance sector. The board has initiated the process to form the information centre in collaboration with insurance companies.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The board said it has already held discussions with the chiefs of all insurance companies and that the companies have shown interest to invest in shares of the information centre.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Currently, there are 10 life insurance companies in Nepal, 20 non-life insurance companies and one re-insurance company.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">It has been learnt that the information centre will be formed with a total capital of Rs 4.3 million by collecting Rs 100,000 for shares from each insurance company. The insurance board will invest Rs 300,000 for the establishment of the centre.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Insurance Bill 2075, which is currently in parliament for discussion, has also envisaged an insurance information centre. However, the board has already initiated the process to establish the information centre although the bill is yet to be approved.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Executive Director of the Insurance Board Nepal, Raju Raman Poudel, said that the board will set up the information centre within this year.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&ldquo;At present, we are discussing on the working procedure and setting up the funds. We are trying our best to bring the information centre into operation as soon as possible,&rdquo; said Poudel.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&nbsp;</span></span></p>

<p>&nbsp;</p>
',
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			'created' => '2019-10-23',
			'modified' => '2019-10-23',
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			'description' => '',
			'sortorder' => '11325',
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	(int) 11 => array(
		'Article' => array(
			'id' => '11573',
			'article_category_id' => '1',
			'title' => 'Nepal-Bangladesh Trade Talks Begin',
			'sub_title' => '',
			'summary' => 'October 23: The Nepali delegation in a meeting with Bangladesh on the topic of trade discussed the issue of reducing trade deficit with Bangladesh on Tuesday. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 23: The Nepali delegation in a meeting with Bangladesh on the topic of trade discussed the issue of reducing trade deficit with Bangladesh on Tuesday. The two countries also discussed about addressing the problems at the customs points and to facilitate trade between Nepal and Bangladesh. The possibility of trade though waterways was also discussed during the first day of the secretary-level meeting.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Nepali delegation led by Joint-Secretary Nabaraj Dhakal of the Ministry of Industry, Commerce and Supplies, said that Bangladesh has shown interest to invest on hydropower sector of Nepal.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&ldquo;Bangladesh has shown interest to invest in 20 hydropower projects in Nepal,&rdquo; said Dhakal.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Joint Secretary Dhakal confirmed that discussions were held on connectivity, shipment of goods, export and import of food products and energy sector.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">During the meeting, the Nepali side laid emphasis on export of yarn and electricity as well as facilitation of visa process for students pursuing courses in Bangladesh.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Joint Secretary Dhakal said that discussions are being held in line with the agenda set by the council of ministers.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Although Bangladesh had eased the import of yarn since last year, Nepal has not been able to export the product in large quantity. Nepal exported yarn worth Rs 600 million in a period of one year.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Bangladesh has allowed Nepal to export only acrylic yarn, which is not much used in Bangladesh, according to Nepali exporters. Currently, there is high demand for viscous yarn, polyster yarn, and dyed yarn.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Meanwhile, Bangladesh has raised the issue of the ban imposed by Nepal on Bangladeshi soft drinks, especially fruit juice. Last year, Nepal had imposed a ban of importing juice from overseas in order to protect its own industries. This has badly affected the trade of Bangladesh.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The ban was imposed in accordance to the National Trade Deficit Work Plan introduced by the government to reduce trade deficit. Nepal used to be a major market for Bangladeshi company Pran until the ban was enforced. Juice and soft drinks comprised of 39 percent of the total trade with Bangladesh last year. Nepal had imported litchi juice worth Rs 1.68 billion of Pran brand in fiscal year 2017/18.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">During Tuesday&rsquo;s meeting, the two countries also discussed about signing a MoU on ensuring food security. Discussions were also held on recognizing each others&rsquo; labs and on plant quarantine as well.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Nepal has been facing trade deficit with Bangladesh since the last four years. Although the list of items imported from Bangladesh is long, Nepal only exports 10 products to Bangladesh. Nepal&rsquo;s chief export to Bangladesh includes lentil, Dabur Nepal&rsquo;s products, medicinal herbs, cake made from mustard oil, transformers among others. Meanwhile, Nepal imports juice and other drinks, raw jute, milk powder, sugar to name a few products.</span></span></p>

<p>&nbsp;</p>
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	(int) 12 => array(
		'Article' => array(
			'id' => '11572',
			'article_category_id' => '1',
			'title' => 'Police to Present Report of ATM Hacking within 2 weeks',
			'sub_title' => '',
			'summary' => 'October 23: The Metropolitan Police Range, Teku is preparing to submit a report of the August 31 ATM hacking to the District Attorney’s Office within two weeks.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 23: The Metropolitan Police Range, Teku is preparing to submit a report of the August 31 ATM hacking to the District Attorney&rsquo;s Office within two weeks.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">SSP Hobindra Bogati of the police range informed New Business Age that the investigation into the case involving six Chinese nationals and three Nepalis has reached the final stage.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&ldquo;We are preparing to submit a report to the District Attorney&rsquo;s Office within the next two weeks,&rdquo; said Bogati, adding, &ldquo;Then we will submit the report to the Patan High Court.&rdquo;</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The police range has already filed a case against the arrested on the charge of banking offence.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">A group of Chinese nationals had withdrawn more than Rs 17.6 million from ATM is the capital some months ago by hacking the ATMs. The gang was busted on August 31. On the same day, hackers used VISA card to withdraw money of Nepali banks from ATMs in India, according to the information provided by VISA.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Police investigation has found that the hackers withdrew around Rs 11.4 million from Nabil Bank alone. It was found that the hackers bypassed the Nepal Electronic Payment System (NEPS) to steal the money. Following the incident, Nepal Rastra Bank had directed NEPS to adopt alternative measures to secure their system.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">CEO of NEPS Prabin Chhetri said that a forensic report of the investigations carried out by a Singaporean company was supposed to be presented by late November. But the report is likely to be delayed, according to Chhetri.</span></span></p>
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	(int) 13 => array(
		'Article' => array(
			'id' => '11571',
			'article_category_id' => '1',
			'title' => 'Three New Int’l Airlines to Operate Flights to Nepal',
			'sub_title' => '',
			'summary' => 'October 23: With the Visit Nepal Year 2020 just around the corner, three new international airlines will be operating flights to Nepal soon. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 23: With the Visit Nepal Year 2020 just around the corner, three new international airlines will be operating flights to Nepal soon. Kuwait&rsquo;s Jazeera &nbsp;Airways and India&rsquo;s Spice Jet as well as Vistara Air have shown interest to operate flights to Nepal.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Civil Aviation Authority of Nepal (CAAN) has already granted permission to Jazeera &nbsp;Airways and Spice Jet to operate flights to Nepal. CAAN informed New Business Age that the process to approvr Vistara Air&rsquo;s request to operate flights to Nepal is in the final stage.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to CAAN, Spice Jet and Jazeera &nbsp;Airways will start commercial flights to Nepal from the third week of November.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Spice Jet had requested CAAN for operating flights along Kathmandu-New Delhi- Mumbai route while Vistara Air has asked for permission to operate flights along Kathmandu-New Delhi route.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Spice Jet had already acquired permission to operate Kathmandu-New Delhi flights before and now has been granted permission to extend the flights till Mumbai.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">CAAN said that Spice Jet has been allowed to operate flights throughout the week.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Kathmandu is not a new destination for Spice Jet. It had started operating flights to Kathmandu in 2008 but discontinued the service after seven years.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Likewise, Vistara Air, which is owned by India&rsquo;s Tata Group and Singapore Airlines, had submitted a proposal to operate flights to Kathmandu from November itself. But the CAAN is currently studying its proposal.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">After the cash-strapped Jet Airways stopped operating in April, Nepal&rsquo;s flag carrier Nepal Airlines Corporation, Air India and Indigo Airlines have been actively operating flights between Kathmandu and New Delhi. Bhutan&rsquo;s Druk Air also runs one flight a week along this route.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">NAC has been operating 14 flights a week along this route while Indigo Airlines operates 21 flights and Air India 14.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Meanwhile, Kuwait&rsquo;s Jazeera Airways sought permission for operating flights between Kuwait and Nepal after Wataniya Airways of the Gulf country went out of business.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Jazeera Airways had sought permission from CAAN about a month ago and has given the approval just four days ago on October 19. Although it has been granted permission to operate flights throughout the week, the airline will operate flights for four days a week in the initial phase.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Out of the total air passengers visiting Nepal, 25 percent come from New Delhi. &nbsp;</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&nbsp;</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">&nbsp;&nbsp;</span></span></p>

<p>&nbsp;</p>
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	(int) 14 => array(
		'Article' => array(
			'id' => '11570',
			'article_category_id' => '1',
			'title' => 'Finance Minister Urges Donor Organisations to Increase Investment ',
			'sub_title' => '',
			'summary' => 'October 22: Finance minister Dr Yuba Raj Khatiwada has urged donor organisations to invest in hydropower, tourism, agriculture, urban infrastructure and other sectors of Nepal. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">October 22: Finance minister Dr Yuba Raj Khatiwada has urged donor organisations to invest in hydropower, tourism, agriculture, urban infrastructure and other sectors of Nepal. In a meeting with senior officials of the International Finance Corporation&#39;s Asia Pacific region, he discussed about the possibilities of Nepal&#39;s economy and urged them to increase investment in Nepal. He further informed the officials that Nepal has already started working in credit rating. </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:&quot;Times New Roman&quot;">He also said that Nepal is well aware about the effects of worldwide slump in economic growth to the foreign employment of Nepal as well as tourism, foreign investment and industrial sector of the country.</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:&quot;Times New Roman&quot;">Meanwhile, at the recent Board of Governors&rsquo; Plenary Session on the second day of the joint annual meeting of the World Bank Group and International Monetary Fund, Minister Khatiwada said that to reduce the gap between investment and savings in Nepal, mobilization of foreign capital is necessary. Moreover, he said that Nepal&rsquo;s capital market is small and it is important to increase it. Stating that the role of the private sector is important in economic development, Minister Khatiwada said that investment sector should be diversified to make the private sector more robust, capable and effective. </span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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FOREX

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)

Bullion

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

Petroleum

Petrol	1 Liter	106.00
Diesel	1 Liter	95.00
Kerosene	1 Liter	95.00
LP Gas	1 Cylinder	1375.00