Warning (2): getimagesize(/var/www/html/newbusinessage.com/app/webroot/img/news/thumbnails/20180927011851_ADB.jpg): failed to open stream: No such file or directory [APP/View/Articles/index.ctp, line 35]Code Context<?phplist($width, $height) = getimagesize(WWW_ROOT.'img'.DS.'news'.DS.'thumbnails'.DS.$article['Article']['image']);$viewFile = '/var/www/html/newbusinessage.com/app/View/Articles/index.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '9179', 'article_category_id' => '1', 'title' => 'Nepal’s Economy to Grow at Healthy but Slower Rate in FY 2019', 'sub_title' => 'Industry sector is expected to expand by 7.2 percent in FY 2019 buoyed by improved electricity supply', 'summary' => 'September 27: Nepal’s economy is anticipated to grow by 5.5 percent (at basic prices) in fiscal year 2019, down from 5.9 percent a year earlier, says the latest Asian Development Bank (ADB) Nepal macroeconomic update.', 'content' => '<p>September 27: Nepal’s economy is anticipated to grow by 5.5 percent (at basic prices) in fiscal year 2019, down from 5.9 percent a year earlier, says the latest Asian Development Bank (ADB) Nepal macroeconomic update.</p> <p>“The growth forecast represents a continued trend reversal but is substantially higher than the average rate of 4.3 percent in the last 10 years (FY 2009-FY 2018),” said Sharad Bhandari, ADB’s principal economist for Nepal. “Growth will be supported by expectations of greater political stability following the 2017 elections, normal monsoon, and efforts to accelerate implementation of mega infrastructure projects.”</p> <p>The limited capacity at sub-national levels and challenges to smooth implementation of federalism may pose risks to growth. According to the update, some of the major issues affecting the smooth implementation of fiscal federalism are slow progress in requisite legislation and deployment of staff, the need for further clarification of mandates and responsibilities of the three tiers of government, and inconsistencies in revenue mobilization regarding fees and taxes at local levels. </p> <p>According to the ADB, the agriculture sector will likely grow from 2.8 percent in FY 2018 to 3.5 percent in FY 2019, on the back of an anticipated bumper harvest supported by a good monsoon. Industry sector is expected to expand by 7.2 percent in FY 2019 buoyed by improved electricity supply. And the services sector will likely grow by 6.1 percent in FY 2019 with the expansion of wholesale and retail trade, financial intermediation and travel and tourism subsectors.</p> <p>The update says inflation is projected to rise to 6.0 percent in FY 2019 from 4.2 percent in FY 2018, partly reflecting higher inflation expected in India, a modest rise in oil prices, and higher government expenditures under the new federal structure.</p> <p>Though revenue collection of Rs 731.4 billion (24.3 percent of GDP) slightly exceeded the budget target in FY 2018, the fiscal deficit widened to 6.7 percent of GDP with the rise in government expenditures compared to the previous year, the macroeconomic update said. While capital expenditures increased by 28.0 percent in FY 2018 with the execution rate at 79.7 percent, the hasty nature of spending has continued undermining the quality of capital projects, says the update.</p> <p>Nepal increasingly faces the risk of external sector instability due to a rising trade and current account deficit. The current account deficit of $2.4 billion (8.2 percent of GDP) in FY 2018 is significantly higher than the deficit of $95.7 million, or 0.4 percent of GDP, a year earlier. The merchandise trade deficit increased on higher import of construction materials and capital goods in FY 2018. While remittance has shown a healthy growth, a substantial rise in the near future is unlikely to offset the rise in the trade deficit, leading to further widening of the current account gap.</p> <p> </p> ', 'published' => true, 'created' => '2018-09-27', 'modified' => '2018-09-27', 'keywords' => '', 'description' => '', 'sortorder' => '8958', 'image' => '20180927011851_ADB.jpg', 'article_date' => '2018-09-27 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 1 => array( 'Article' => array( 'id' => '9178', 'article_category_id' => '1', 'title' => 'Janata Bank Provides Projector to Community School', 'sub_title' => '', 'summary' => 'September 26: Janata Bank has provided projectors to Shree Bal Bikas Aadharbhut School of Ramchwok, Lamjung under its corporate social responsibility.', 'content' => '<p>September 26: Janata Bank has provided projectors to Shree Bal Bikas Aadharbhut School of Ramchwok, Lamjung under its corporate social responsibility. The bank’s Chairman Keshav Bahadur Rayamajhi handed over the projector to the school’s Chairman Prem Sedhain. </p> <p>The bank has been providing its service through 123 branches, 40 branchless banking services and two extension counters across the country.</p> ', 'published' => true, 'created' => '2018-09-26', 'modified' => '2018-09-26', 'keywords' => '', 'description' => '', 'sortorder' => '8957', 'image' => null, 'article_date' => '2018-09-26 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 2 => array( 'Article' => array( 'id' => '9177', 'article_category_id' => '1', 'title' => 'Muktinath Bank Provides Scholarships to Student', 'sub_title' => '', 'summary' => 'September 26: Muktinath Bikas Bank has granted scholarships to the students of Karnali Community School.', 'content' => '<p>September 26: Muktinath Bikas Bank has granted scholarships to the students of Karnali Community School. The bank with an aim to improve the educational quality of the students has provided Rs 150,000 to the students.</p> <p>The bank’s CEO Pradyuman Pokharel handed over the amount to the chairman of the Provincial Tourism and Cultural Conservation Center Kalikot, Tek Raj Shahi. According to Shahi, the amount will be provided to the students who aspire to study in Kathmandu after passing SEE examination.</p> ', 'published' => true, 'created' => '2018-09-26', 'modified' => '2018-09-26', 'keywords' => '', 'description' => '', 'sortorder' => '8956', 'image' => null, 'article_date' => '2018-09-26 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 3 => array( 'Article' => array( 'id' => '9176', 'article_category_id' => '1', 'title' => 'Mahalaxmi Bank Collaborates with Norvic Hospital', 'sub_title' => '', 'summary' => 'September 26: Mahalaxmi Bikas Bank has collaborated with Norvic International Hospital and Medical College for providing quality health services to the bank’s customers at an affordable cost.', 'content' => '<p>September 26: Mahalaxmi Bikas Bank has collaborated with Norvic International Hospital and Medical College for providing quality health services to the bank’s customers at an affordable cost. The bank’s CEO Krishna Raj Lamichhane and the hospital’s executive director Rajendra Bahadur Singh signed an agreement to this effect.</p> <p>According to the agreement, the bank’s customers, staff and their family members can get discount from 5 to 30 percent on different health services at Norvic.</p> ', 'published' => true, 'created' => '2018-09-26', 'modified' => '2018-09-26', 'keywords' => '', 'description' => '', 'sortorder' => '8955', 'image' => '20180926035819_Mahalaxmi Bikash Bank _Colour Logo_Fina-01.jpg', 'article_date' => '2018-09-26 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 4 => array( 'Article' => array( 'id' => '9175', 'article_category_id' => '1', 'title' => 'Green Development Bank to shift its Central Office', 'sub_title' => '', 'summary' => 'September 26: Green Development Bank which is headquartered at Baglung is shifting its central office to Pokhara.', 'content' => '<p>September 26: Green Development Bank which is headquartered at Baglung is shifting its central office to Pokhara.</p> <p>The bank said in a statement that the decision to shift the office was made by the 5<sup>th</sup> annual general meeting of the bank.</p> <p>The 5<sup>th</sup> annual general meeting conducted under the chairmanship of Ganesh Kumar Shrestha, chairman of Green Development Bank, also appointed Krishna Shankar Shrestha and Shyam Prasad Shrestha as the board members of the bank from among the founder share holders and Prakash Kumar Shrestha from the general share holder.</p> <p>The bank with its activities centered around Baglung, Kaski and Myagdi has announced that it will operate four new branches in Pokhara, two new branches in Baglung and one new branch in Myagdi.</p> <p>Umesh Kumar Acharya, CEO of Green Development Bank, informed that the bank is also working to start online banking service, mobile banking and SMS banking.</p> ', 'published' => true, 'created' => '2018-09-26', 'modified' => '2018-09-26', 'keywords' => '', 'description' => '', 'sortorder' => '8954', 'image' => null, 'article_date' => '2018-09-26 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 5 => array( 'Article' => array( 'id' => '9174', 'article_category_id' => '1', 'title' => 'Hyatt Regency Wins World Travel Award 2018', 'sub_title' => '', 'summary' => 'September 26: Hyatt Regency Kathmandu has been recognized by World Travel Awards as Nepal’s leading hotel once again for 2018 after having won it in 2017 and 2016.', 'content' => '<p>September 26: Hyatt Regency Kathmandu has been recognized by World Travel Awards as Nepal’s leading hotel once again for 2018 after having won it in 2017 and 2016. According to the five-star hotel, this is the third time in a row that it won the award and overall seven times in a span of a decade. Hyatt Regency said in a statement that it had previously won the prestigious award in 2008, 2009, 2011 and 2013.</p> <p>WTA was established in 1993 to acknowledge, reward and celebrate excellence across all sectors of the tourism industry. Each year, WTA covers the globe with a series of regional gala ceremonies staged to recognise and celebrate individual and collective success within each key geographical region.</p> <p>WTA gala ceremonies are widely regarded as the best networking opportunities in the travel industry, attended by government and industry leaders, luminaries and international print and broadcast media</p> <p>General Manager of the hotel, Rajesh Ramdas, said, “The World Travel Awards is the most prestigious, comprehensive and sought-after awards program in the global travel and tourism industry, and to having won it is truly commendable. I dedicate this award to our colleagues, guests, owners, operators, community members and shareholders, who have always been instrumental in achieving the goal.”</p> ', 'published' => true, 'created' => '2018-09-26', 'modified' => '2018-09-26', 'keywords' => '', 'description' => '', 'sortorder' => '8953', 'image' => '20180926120207_Hyatt.jpg', 'article_date' => '2018-09-26 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 6 => array( 'Article' => array( 'id' => '9173', 'article_category_id' => '1', 'title' => 'FM calls for diversification to protect insurance companies from shocks', 'sub_title' => '', 'summary' => 'September 26: Finance Minister Yuba Raj Khatiwada has urged insurance companies to diversify their investments and businesses to insulate the company and insurance industry from the shocks of various disasters. ', 'content' => '<p>September 26: Finance Minister Yuba Raj Khatiwada has urged insurance companies to diversify their investments and businesses to insulate the company and insurance industry from the shocks of various disasters. </p> <p>According to the Society of Economic Journalists of Nepal (SEJON), he made such remarks while speaking at the inauguration of a two-day conference of the Association of Insurers and Reinsurers in Developing Countries (AIRDC) on Tuesday, September 25. The 21st AIRDC Conference kicked off in the capital with a theme ‘Building Financial Resilience: Disaster Risk Financing and Insurance”, SEJON said in a statement.</p> <p>“If the business is concentrated in a certain sector, the risk is also going to increase. So, you [insurance companies] have to diversify the insurance businesses,” said Khatiwada.</p> <p>Stating that the majority of the insurance business of non-life insurers in Nepal is concentrated on motor business, he said their businesses should be diversified to include other sectors like industries, housing, agro and crop insurance.</p> <p>He also urged Nepal’s insurance companies to end the hassles and lengthy process of claim settlement.</p> <p>“The insurance companies should leverage technology to simplify the insurance and claim settlement and reduce the cost,” he said. “This can help attract public to toward insurance,” he added.</p> <p>The finance minister also said that developing countries face the challenge of resources and capacity to cope with the adverse impact and risks of various natural disasters as well as the adverse impact of climate change.</p> <p>Also speaking at the inaugural ceremony of the conference jointly organized by the Association of Insurers and Reinsurers in Developing Countries (AIRDC), Nepal Insurers’ Association (NIA) and Beema Samiti, Yassir Albaharna, president of the AIRDC, said that the risks and problems faced by the member countries of the association are common and the AIRDC aims at helping them to address collectively. </p> <p>The two-day long conference that has brought over 400 delegates including 88 from 20 various countries to discuss on how to build the financial resilience, disaster risk financing and insurance.</p> ', 'published' => true, 'created' => '2018-09-26', 'modified' => '2018-09-26', 'keywords' => '', 'description' => '', 'sortorder' => '8952', 'image' => '20180926114204_airdc.jpg', 'article_date' => '2018-09-26 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 7 => array( 'Article' => array( 'id' => '9172', 'article_category_id' => '1', 'title' => 'Nepal Climbs Five Spots in Economic Freedom', 'sub_title' => '', 'summary' => 'September 26: Nepal has ranked 102nd out of 162 countries and territories included in the Economic Freedom of the World: 2018 Annual Report, released on Tuesday by Samriddhi Foundation in conjunction with Canada’s Fraser Institute.', 'content' => '<p>September 26: Nepal has ranked 102nd out of 162 countries and territories included in the Economic Freedom of the World: 2018 Annual Report, released on Tuesday by Samriddhi Foundation in conjunction with Canada’s Fraser Institute. According to a press statement issued by the foundation, Nepal ranked 107th last year. Samriddhi Foundation said it is releasing the report in Nepal for the eleventh consecutive year.</p> <p>According to research in top peer-reviewed academic journals, people living in countries with high levels of economic freedom enjoy greater prosperity, more political and civil liberties, and longer lives, the statement said. And life expectancy is 79.5 years in the top quartile of countries compared to 64.4 years in the bottom quartile.</p> <p>“Where people are free to pursue their own opportunities and make their own choices, they lead more prosperous, happier and healthier lives,” the statement said.</p> <p><strong>Nepal’s Ranking</strong></p> <p>With an overall score of 6.53 (in a scale of 1 to 10 where a higher value indicates a higher level of economic freedom), Nepal ranked 102nd out of 162 jurisdictions in this year’s index. With this, Nepal has climbed five notches up in the global ranking. Last year, Nepal ranked 107th out of 159 jurisdictions with a score of 6.50. The year before, Nepal had ranked 108th out of 157 jurisdictions with a score of 6.45.</p> <p>Nepal’s scores in key components of economic freedom are:</p> <p> Size of government: dropped to 7.9 from 8.1 in the last year’s report</p> <p> Legal system and property rights: climbed to 4.6 from 4.5</p> <p> Access to sound money: as it was, on 6.4</p> <p> Freedom to trade internationally: slid to 6.6 from 6.8</p> <p> Regulation of credit, labour and business: climbed to 7.1 from 6.7</p> <p> </p> <p>Of the 24 sub-indicators within these five indicators studied in the report, Nepal climbed up in seven, slid below in five and maintained its last year’s position on 12.</p> <p><strong>International Rankings</strong></p> <p>Hong Kong and Singapore again occupied the top two positions respectively. New Zealand, Switzerland, Ireland, the United States, Georgia, Mauritius, the United Kingdom, Australia and Canada were tied for the 10 th position.</p> <p>The 10 lowest-ranked countries are Sudan, Guinea-Bissau, Angola, Central African Republic, Republic of Congo, Syria, Algeria, Argentina, Libya and last-placed Venezuela. Some despotic countries such as North Korea and Cuba can’t be ranked due to lack of data.</p> <p>Other notable countries include Germany (20th), Japan (41st), France (57th), Russia (87th), India (96th) and China (108th).</p> <p>The Fraser Institute produces the annual Economic Freedom of the World report in cooperation with the Economic Freedom Network, a group of independent research and educational institutes in nearly 100 nations and territories. Samriddhi Foundation is member of the Economic Freedom Network and is a co-publisher of the report in Nepal. The Economic Freedom of the World Report is world’s premier measurement of economic freedom, measuring and ranking countries in five areas: size of government, legal structure and security of property rights, access to sound money, freedom to trade internationally, and regulation of credit, labour and business.</p> <p> </p> ', 'published' => true, 'created' => '2018-09-26', 'modified' => '2018-09-26', 'keywords' => '', 'description' => '', 'sortorder' => '8951', 'image' => null, 'article_date' => '2018-09-26 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 8 => array( 'Article' => array( 'id' => '9171', 'article_category_id' => '1', 'title' => 'Himstar announces "Khurkiyo Ki Furkiyo" offer', 'sub_title' => '', 'summary' => 'September 26: Him Electronics, a sister concern of Golchha Organization, has announced "Khurkiyo Ki Furkiyo” campaign on the occasion of Dashain, Tihar and Chhat.', 'content' => '<p>September 26: Him Electronics, a sister concern of Golchha Organization, has announced "Khurkiyo Ki Furkiyo” campaign on the occasion of Dashain, Tihar and Chhat.</p> <p>“On the special occasion of Bada Dashain, Tihar and Chhat, the company announces guaranteed gift hampers on the purchase of Himstar TV, refrigerators, deep freezers and washing machines,” the company said in a statement issued on September 24.</p> <p>Under this scheme, customers will get gifts like rice cookers, electric thermos, electric kettles, vacuum cleaners, woofers, mixers, dry irons and steam irons of Himstar through scratch coupon.</p> <p>According to the company, this offer will be valid for a limited time period only.</p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2018-09-26', 'modified' => '2018-09-26', 'keywords' => '', 'description' => '', 'sortorder' => '8950', 'image' => '20180926111203_Himstar_mnemonic.jpg', 'article_date' => '2018-09-26 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 9 => array( 'Article' => array( 'id' => '9170', 'article_category_id' => '1', 'title' => 'BoK Card Holders to get Festive Discount', 'sub_title' => '', 'summary' => 'September 26: Bank of Kathmandu (BoK) has informed that its card holders will get attractive discounts during this festive season. ', 'content' => '<p>September 26: Bank of Kathmandu (BoK) has informed that its card holders will get attractive discounts during this festive season. The bank said in a statement that all of its debit and credit card holders are entitled to get discounts on the occasion of Dashain and Tihar at different outlets and hospitals which have been tied up with the bank. </p> <p>Sulux Center located at Durbar Marg offers 10 percent discount to the card holders of the bank while Grande Hospital will be providing 7.5 discount.</p> <p>Likewise, all outlets of LG Lifestyle Shoppe, CG Digital, Phalano Luga and Organic Chulo, Battisputali will provide 15 percent discount each.</p> <p> </p> ', 'published' => true, 'created' => '2018-09-26', 'modified' => '2018-09-26', 'keywords' => '', 'description' => '', 'sortorder' => '8949', 'image' => '20180926110324_bok.jpg', 'article_date' => '2018-09-26 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 10 => array( 'Article' => array( 'id' => '9169', 'article_category_id' => '1', 'title' => 'Mahindra’s Summit Drive Kicks Off to Everest', 'sub_title' => '', 'summary' => 'September 25: One of the leading automobile companies of India, Mahindra & Mahindra, flagged off the Summit Drive-2018 to the Everest Base Camp on Saturday under its “Mahindra Adventure” campaign, a unique experiential marketing initiatives in Nepal.', 'content' => '<p>September 25: One of the leading automobile companies of India, Mahindra & Mahindra, flagged off the Summit Drive-2018 to the Everest Base Camp on Saturday under its “Mahindra Adventure” campaign, a unique experiential marketing initiatives in Nepal.</p> <p>The Summit Drive left Kathmandu with a convoy of 29 vehicles consisting of Mahindra Scorpio, XUV500 and the Scorpio Getaway, Mahindra and Mahindra said in a statement. According to the company, the drivers will go to the Everest Base Camp on the Tibetan (China) side, overcoming the treacherous and challenging no-road conditions in Nepal and Tibet.</p> <p>“The convoy will drive through the ‘roof of the world’, Tibet, to the forbidden city of Lahsa – home of the Potala Palace and numerous monasteries. The convoy will be back to Kathmandu on October 4 covering 3000 kms,” the statement said.</p> <p>According to the company, Mahindra Adventure which started in India in 2011 is a pioneer concept of “arrive and drive” to showcase the tough and rugged DNA of Mahindra vehicles.</p> <p>“Since then, every year it has been giving people trips of a lifetime, be it the single-day off-road adventure or the multi-day expeditions to the most beautiful places in India and abroad.” </p> <p>In 2012, the company started India’s first and only dedicated off-road training academy that offers people a chance to get down and dirty and learn off-road driving from the experts. </p> <p>With the launch of “Mahindra Adventure”, the company expressed its belief that it will give wings to adventure seeking enthusiasts of Nepal.</p> <p>“It will continue to dwell in its spirit of adventure through a series of events spread across the year, spear-headed by the upcoming Rara Expedition in association with Imagine Nepal and Great Escape,” the statement further said.</p> <p> </p> <p> </p> <p> </p> <p> </p> <p style="margin-left:.1pt"> </p> <p style="margin-left:.1pt"> </p> <p> </p> ', 'published' => true, 'created' => '2018-09-25', 'modified' => '2018-09-25', 'keywords' => '', 'description' => '', 'sortorder' => '8948', 'image' => '20180925035442_IMG-20180923-WA0000.jpg', 'article_date' => '2018-09-25 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 11 => array( 'Article' => array( 'id' => '9168', 'article_category_id' => '1', 'title' => 'Furniture and Furnishing Expo attracts 75,000 visitors', 'sub_title' => '', 'summary' => 'September 25: The 5th edition of ‘Furniture and Furnishing Expo (FURNEX)’ concluded on Monday attracting a total of 75,000 visitors, the organizers said.', 'content' => '<p>September 25: The 5<sup>th</sup> edition of ‘Furniture and Furnishing Expo (FURNEX)’ concluded on Monday attracting a total of 75,000 visitors, the organizers said.</p> <p>The five-day event organized by Nepal Furniture and Furnishing Association (NFFA) had a total of 100 stalls to showcase both locally and foreign made furniture items.</p> <p>According to the organizers, the main aim of the event was to promote locally-made furniture products and to make foreign furniture products available to the local consumers.</p> <p>According to Rajesh Kumar Agrawal, president of NFFA, the expo had offered Dashain sale at a very reasonable price, which resulted in more number of visitors.</p> <p>According to the organisers, the major attraction of this year’s expo was kitchen, bedroom, and bathroom furniture, carpet, marble and other materials. Similarly, the expo also showcased other items like carpets, curtains, mattresses and decor items for homes, offices, along with home appliances.</p> <p>The event was held from September 20 to 24 at Bhrikuti Mandap. Kathmandu.</p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2018-09-25', 'modified' => '2018-09-25', 'keywords' => '', 'description' => '', 'sortorder' => '8947', 'image' => '20180925032957_IMG_8032.jpg', 'article_date' => '2018-09-25 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 12 => array( 'Article' => array( 'id' => '9167', 'article_category_id' => '1', 'title' => 'AGM of Jyoti Bikash Bank on Oct 15', 'sub_title' => '', 'summary' => 'September 25: Jyoti Bikash Bank is organizing its 11th annual general meeting (AGM) on October 15.', 'content' => '<p>September 25: Jyoti Bikash Bank is organizing its 11<sup>th</sup> annual general meeting (AGM) on October 15.</p> <p>The AGM will approve the bank’s proposal of distributing dividend of 8.4 percent from its last year’s profit.</p> <p>The meeting will also discuss on the agendas like financial report of last fiscal year, acquisition of Hamro Bikas Bank Limited with 1:1 swap ratio and maintaining the share ownership of founding members to 51 percent. The founding members of Jyoti Bikash Bank currently have a share ownership of 60.45 percent.</p> <p>The bank has decided to close the books on October 1 ahead of the AGM and the share holders are requested to record their dividend claim until September 30.</p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2018-09-25', 'modified' => '2018-09-25', 'keywords' => '', 'description' => '', 'sortorder' => '8946', 'image' => '20180925023500_jyoti.jpg', 'article_date' => '2018-09-25 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 13 => array( 'Article' => array( 'id' => '9166', 'article_category_id' => '1', 'title' => 'Bharosa Hospital to offer discount to IME customers', 'sub_title' => '', 'summary' => 'September 25: IME Group has signed an agreement with Bharosa Hospital to provide discounts to its customers on various health care facilities at the hospital.', 'content' => '<p>September 25: IME Group has signed an agreement with Bharosa Hospital to provide discounts to its customers on various health care facilities at the hospital.</p> <p>Abhinash Shrestha, business promotion chief of IME Group, and Surya Acharya, chief of administration of Bharosa Hospital, signed the agreement on behalf of their respective organizations amid an event on Monday, September 24.</p> <p> According to the agreement, the privilege card holders and partners of IME Group will receive 10 percent discount on various health care facilities at the hospital.</p> ', 'published' => true, 'created' => '2018-09-25', 'modified' => '2018-09-25', 'keywords' => '', 'description' => '', 'sortorder' => '8945', 'image' => null, 'article_date' => '2018-09-25 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 14 => array( 'Article' => array( 'id' => '9165', 'article_category_id' => '1', 'title' => 'Xiaomi Launches 4 new Models in Nepal', 'sub_title' => '', 'summary' => 'September 25: Chinese smartphone brand Xiaomi announced its official entry into the Nepali market on Sunday, September 23.', 'content' => '<p>September 25: Chinese smartphone brand Xiaomi announced its official entry into the Nepali market on Sunday, September 23. The company also announced the launch of Mi A2, Mi A2 Lite, Redmi 6 and Redmi 6A amid a function held in Kathmandu.</p> <p>Sanket Agarwal, head of overseas expansion of Xiaomi India said that the company aims to make higher level innovation accessible to all the users at “honest pricing”.</p> <p>“We are proud to be bringing a host of new smartphones in the market which establishes our true philosophy. We are excited to bring Xiaomi officially into Nepal for millions of our Mi users here. Over the last few years, Nepal’s smartphone market has witnessed tremendous growth, and we look forward to extending our share to the local industry,” he said, adding, “We hope that with the official entry into Nepal, we will be able to bring all latest products at an honest pricing for all our Mi users.”</p> <p>According to the company, Redmi 6 features the latest Helio P22 octa-core SoC that uses an ultra-efficient 12nm processor, which consumes about 48 percent less power than compared to 28nm chipsets.</p> <p>Redmi 6 has a 5.45-inch 18:9 Full Screen Display with an HD+ resolution of 1440 x 720 pixels.</p> <p>It also has a 12MP + 5MP AI dual camera setup on the rear. Redmi 6 features AI Face Unlock for fast unlocking .</p> <p>Likewise, Mi A2 comes with a trio of Sony image sensors, including a 20MP Sony IMX376 front camera and a 12MP + 20MP AI dual camera setup.</p> <p>Powered by Qualcomm Snapdragon 660 platform with Artificial Intelligence Engine, Mi A2 offers a crisp, smooth experience.</p> <p>Mi A2 Lite is one of the first Android One devices to feature a unique 19:9 display. This 5.84” FHD+ full screen display is housed in a relatively compact body, making it very convenient for one-handed use. The screen also comes with useful features such as Auto Contrast, Reading Mode and Night Mode.</p> <p>Mi A2 Lite sports a 12MP + 5MP AI rear dual camera.</p> <p>With an impressive 4000mAh battery, Mi A2 Lite easily powers through 6 hours of continuous gaming and 34 hours of music playback, according to the company.</p> <p>Pricing and Availability</p> <p>Redmi 6 comes in 3GB + 32GB and 3GB + 64GB variants available in gold, black and blue colours. The 3GB + 32GB is priced at Rs 16,499 and 3GB + 64GB is priced at Rs 18,499.</p> <p>Redmi 6A comes in 2GB + 16GB and three colors - gold, black and blue variants for Rs 12,999.</p> <p>Mi A2 comes with 4GB of RAM and 64GB of ROM in three colors black, gold and blue in Nepal at a price of Rs 30,999. Mi A2 Lite will be available for Rs 20,999 (3GB+32GB) and Rs 24,499 (4GB+64GB).</p> <p>The company informed that all four products will be available nationwide from September 30. </p> ', 'published' => true, 'created' => '2018-09-25', 'modified' => '2018-09-25', 'keywords' => '', 'description' => '', 'sortorder' => '8944', 'image' => '20180925112650_IMG_3327.jpg', 'article_date' => '2018-09-25 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ) ) $current_user = null $logged_in = false $article = array( 'Article' => array( 'id' => '9179', 'article_category_id' => '1', 'title' => 'Nepal’s Economy to Grow at Healthy but Slower Rate in FY 2019', 'sub_title' => 'Industry sector is expected to expand by 7.2 percent in FY 2019 buoyed by improved electricity supply', 'summary' => 'September 27: Nepal’s economy is anticipated to grow by 5.5 percent (at basic prices) in fiscal year 2019, down from 5.9 percent a year earlier, says the latest Asian Development Bank (ADB) Nepal macroeconomic update.', 'content' => '<p>September 27: Nepal’s economy is anticipated to grow by 5.5 percent (at basic prices) in fiscal year 2019, down from 5.9 percent a year earlier, says the latest Asian Development Bank (ADB) Nepal macroeconomic update.</p> <p>“The growth forecast represents a continued trend reversal but is substantially higher than the average rate of 4.3 percent in the last 10 years (FY 2009-FY 2018),” said Sharad Bhandari, ADB’s principal economist for Nepal. “Growth will be supported by expectations of greater political stability following the 2017 elections, normal monsoon, and efforts to accelerate implementation of mega infrastructure projects.”</p> <p>The limited capacity at sub-national levels and challenges to smooth implementation of federalism may pose risks to growth. According to the update, some of the major issues affecting the smooth implementation of fiscal federalism are slow progress in requisite legislation and deployment of staff, the need for further clarification of mandates and responsibilities of the three tiers of government, and inconsistencies in revenue mobilization regarding fees and taxes at local levels. </p> <p>According to the ADB, the agriculture sector will likely grow from 2.8 percent in FY 2018 to 3.5 percent in FY 2019, on the back of an anticipated bumper harvest supported by a good monsoon. Industry sector is expected to expand by 7.2 percent in FY 2019 buoyed by improved electricity supply. And the services sector will likely grow by 6.1 percent in FY 2019 with the expansion of wholesale and retail trade, financial intermediation and travel and tourism subsectors.</p> <p>The update says inflation is projected to rise to 6.0 percent in FY 2019 from 4.2 percent in FY 2018, partly reflecting higher inflation expected in India, a modest rise in oil prices, and higher government expenditures under the new federal structure.</p> <p>Though revenue collection of Rs 731.4 billion (24.3 percent of GDP) slightly exceeded the budget target in FY 2018, the fiscal deficit widened to 6.7 percent of GDP with the rise in government expenditures compared to the previous year, the macroeconomic update said. While capital expenditures increased by 28.0 percent in FY 2018 with the execution rate at 79.7 percent, the hasty nature of spending has continued undermining the quality of capital projects, says the update.</p> <p>Nepal increasingly faces the risk of external sector instability due to a rising trade and current account deficit. The current account deficit of $2.4 billion (8.2 percent of GDP) in FY 2018 is significantly higher than the deficit of $95.7 million, or 0.4 percent of GDP, a year earlier. The merchandise trade deficit increased on higher import of construction materials and capital goods in FY 2018. While remittance has shown a healthy growth, a substantial rise in the near future is unlikely to offset the rise in the trade deficit, leading to further widening of the current account gap.</p> <p> </p> ', 'published' => true, 'created' => '2018-09-27', 'modified' => '2018-09-27', 'keywords' => '', 'description' => '', 'sortorder' => '8958', 'image' => '20180927011851_ADB.jpg', 'article_date' => '2018-09-27 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) )getimagesize - [internal], line ?? include - APP/View/Articles/index.ctp, line 35 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): Division by zero [APP/View/Articles/index.ctp, line 36]Code Context<?phplist($width, $height) = getimagesize(WWW_ROOT.'img'.DS.'news'.DS.'thumbnails'.DS.$article['Article']['image']);$ratio = $width / $height;$viewFile = '/var/www/html/newbusinessage.com/app/View/Articles/index.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '9179', 'article_category_id' => '1', 'title' => 'Nepal’s Economy to Grow at Healthy but Slower Rate in FY 2019', 'sub_title' => 'Industry sector is expected to expand by 7.2 percent in FY 2019 buoyed by improved electricity supply', 'summary' => 'September 27: Nepal’s economy is anticipated to grow by 5.5 percent (at basic prices) in fiscal year 2019, down from 5.9 percent a year earlier, says the latest Asian Development Bank (ADB) Nepal macroeconomic update.', 'content' => '<p>September 27: Nepal’s economy is anticipated to grow by 5.5 percent (at basic prices) in fiscal year 2019, down from 5.9 percent a year earlier, says the latest Asian Development Bank (ADB) Nepal macroeconomic update.</p> <p>“The growth forecast represents a continued trend reversal but is substantially higher than the average rate of 4.3 percent in the last 10 years (FY 2009-FY 2018),” said Sharad Bhandari, ADB’s principal economist for Nepal. “Growth will be supported by expectations of greater political stability following the 2017 elections, normal monsoon, and efforts to accelerate implementation of mega infrastructure projects.”</p> <p>The limited capacity at sub-national levels and challenges to smooth implementation of federalism may pose risks to growth. According to the update, some of the major issues affecting the smooth implementation of fiscal federalism are slow progress in requisite legislation and deployment of staff, the need for further clarification of mandates and responsibilities of the three tiers of government, and inconsistencies in revenue mobilization regarding fees and taxes at local levels. </p> <p>According to the ADB, the agriculture sector will likely grow from 2.8 percent in FY 2018 to 3.5 percent in FY 2019, on the back of an anticipated bumper harvest supported by a good monsoon. Industry sector is expected to expand by 7.2 percent in FY 2019 buoyed by improved electricity supply. And the services sector will likely grow by 6.1 percent in FY 2019 with the expansion of wholesale and retail trade, financial intermediation and travel and tourism subsectors.</p> <p>The update says inflation is projected to rise to 6.0 percent in FY 2019 from 4.2 percent in FY 2018, partly reflecting higher inflation expected in India, a modest rise in oil prices, and higher government expenditures under the new federal structure.</p> <p>Though revenue collection of Rs 731.4 billion (24.3 percent of GDP) slightly exceeded the budget target in FY 2018, the fiscal deficit widened to 6.7 percent of GDP with the rise in government expenditures compared to the previous year, the macroeconomic update said. While capital expenditures increased by 28.0 percent in FY 2018 with the execution rate at 79.7 percent, the hasty nature of spending has continued undermining the quality of capital projects, says the update.</p> <p>Nepal increasingly faces the risk of external sector instability due to a rising trade and current account deficit. The current account deficit of $2.4 billion (8.2 percent of GDP) in FY 2018 is significantly higher than the deficit of $95.7 million, or 0.4 percent of GDP, a year earlier. The merchandise trade deficit increased on higher import of construction materials and capital goods in FY 2018. While remittance has shown a healthy growth, a substantial rise in the near future is unlikely to offset the rise in the trade deficit, leading to further widening of the current account gap.</p> <p> </p> ', 'published' => true, 'created' => '2018-09-27', 'modified' => '2018-09-27', 'keywords' => '', 'description' => '', 'sortorder' => '8958', 'image' => '20180927011851_ADB.jpg', 'article_date' => '2018-09-27 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 1 => array( 'Article' => array( 'id' => '9178', 'article_category_id' => '1', 'title' => 'Janata Bank Provides Projector to Community School', 'sub_title' => '', 'summary' => 'September 26: Janata Bank has provided projectors to Shree Bal Bikas Aadharbhut School of Ramchwok, Lamjung under its corporate social responsibility.', 'content' => '<p>September 26: Janata Bank has provided projectors to Shree Bal Bikas Aadharbhut School of Ramchwok, Lamjung under its corporate social responsibility. The bank’s Chairman Keshav Bahadur Rayamajhi handed over the projector to the school’s Chairman Prem Sedhain. </p> <p>The bank has been providing its service through 123 branches, 40 branchless banking services and two extension counters across the country.</p> ', 'published' => true, 'created' => '2018-09-26', 'modified' => '2018-09-26', 'keywords' => '', 'description' => '', 'sortorder' => '8957', 'image' => null, 'article_date' => '2018-09-26 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 2 => array( 'Article' => array( 'id' => '9177', 'article_category_id' => '1', 'title' => 'Muktinath Bank Provides Scholarships to Student', 'sub_title' => '', 'summary' => 'September 26: Muktinath Bikas Bank has granted scholarships to the students of Karnali Community School.', 'content' => '<p>September 26: Muktinath Bikas Bank has granted scholarships to the students of Karnali Community School. The bank with an aim to improve the educational quality of the students has provided Rs 150,000 to the students.</p> <p>The bank’s CEO Pradyuman Pokharel handed over the amount to the chairman of the Provincial Tourism and Cultural Conservation Center Kalikot, Tek Raj Shahi. According to Shahi, the amount will be provided to the students who aspire to study in Kathmandu after passing SEE examination.</p> ', 'published' => true, 'created' => '2018-09-26', 'modified' => '2018-09-26', 'keywords' => '', 'description' => '', 'sortorder' => '8956', 'image' => null, 'article_date' => '2018-09-26 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 3 => array( 'Article' => array( 'id' => '9176', 'article_category_id' => '1', 'title' => 'Mahalaxmi Bank Collaborates with Norvic Hospital', 'sub_title' => '', 'summary' => 'September 26: Mahalaxmi Bikas Bank has collaborated with Norvic International Hospital and Medical College for providing quality health services to the bank’s customers at an affordable cost.', 'content' => '<p>September 26: Mahalaxmi Bikas Bank has collaborated with Norvic International Hospital and Medical College for providing quality health services to the bank’s customers at an affordable cost. The bank’s CEO Krishna Raj Lamichhane and the hospital’s executive director Rajendra Bahadur Singh signed an agreement to this effect.</p> <p>According to the agreement, the bank’s customers, staff and their family members can get discount from 5 to 30 percent on different health services at Norvic.</p> ', 'published' => true, 'created' => '2018-09-26', 'modified' => '2018-09-26', 'keywords' => '', 'description' => '', 'sortorder' => '8955', 'image' => '20180926035819_Mahalaxmi Bikash Bank _Colour Logo_Fina-01.jpg', 'article_date' => '2018-09-26 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 4 => array( 'Article' => array( 'id' => '9175', 'article_category_id' => '1', 'title' => 'Green Development Bank to shift its Central Office', 'sub_title' => '', 'summary' => 'September 26: Green Development Bank which is headquartered at Baglung is shifting its central office to Pokhara.', 'content' => '<p>September 26: Green Development Bank which is headquartered at Baglung is shifting its central office to Pokhara.</p> <p>The bank said in a statement that the decision to shift the office was made by the 5<sup>th</sup> annual general meeting of the bank.</p> <p>The 5<sup>th</sup> annual general meeting conducted under the chairmanship of Ganesh Kumar Shrestha, chairman of Green Development Bank, also appointed Krishna Shankar Shrestha and Shyam Prasad Shrestha as the board members of the bank from among the founder share holders and Prakash Kumar Shrestha from the general share holder.</p> <p>The bank with its activities centered around Baglung, Kaski and Myagdi has announced that it will operate four new branches in Pokhara, two new branches in Baglung and one new branch in Myagdi.</p> <p>Umesh Kumar Acharya, CEO of Green Development Bank, informed that the bank is also working to start online banking service, mobile banking and SMS banking.</p> ', 'published' => true, 'created' => '2018-09-26', 'modified' => '2018-09-26', 'keywords' => '', 'description' => '', 'sortorder' => '8954', 'image' => null, 'article_date' => '2018-09-26 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 5 => array( 'Article' => array( 'id' => '9174', 'article_category_id' => '1', 'title' => 'Hyatt Regency Wins World Travel Award 2018', 'sub_title' => '', 'summary' => 'September 26: Hyatt Regency Kathmandu has been recognized by World Travel Awards as Nepal’s leading hotel once again for 2018 after having won it in 2017 and 2016.', 'content' => '<p>September 26: Hyatt Regency Kathmandu has been recognized by World Travel Awards as Nepal’s leading hotel once again for 2018 after having won it in 2017 and 2016. According to the five-star hotel, this is the third time in a row that it won the award and overall seven times in a span of a decade. Hyatt Regency said in a statement that it had previously won the prestigious award in 2008, 2009, 2011 and 2013.</p> <p>WTA was established in 1993 to acknowledge, reward and celebrate excellence across all sectors of the tourism industry. Each year, WTA covers the globe with a series of regional gala ceremonies staged to recognise and celebrate individual and collective success within each key geographical region.</p> <p>WTA gala ceremonies are widely regarded as the best networking opportunities in the travel industry, attended by government and industry leaders, luminaries and international print and broadcast media</p> <p>General Manager of the hotel, Rajesh Ramdas, said, “The World Travel Awards is the most prestigious, comprehensive and sought-after awards program in the global travel and tourism industry, and to having won it is truly commendable. I dedicate this award to our colleagues, guests, owners, operators, community members and shareholders, who have always been instrumental in achieving the goal.”</p> ', 'published' => true, 'created' => '2018-09-26', 'modified' => '2018-09-26', 'keywords' => '', 'description' => '', 'sortorder' => '8953', 'image' => '20180926120207_Hyatt.jpg', 'article_date' => '2018-09-26 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 6 => array( 'Article' => array( 'id' => '9173', 'article_category_id' => '1', 'title' => 'FM calls for diversification to protect insurance companies from shocks', 'sub_title' => '', 'summary' => 'September 26: Finance Minister Yuba Raj Khatiwada has urged insurance companies to diversify their investments and businesses to insulate the company and insurance industry from the shocks of various disasters. ', 'content' => '<p>September 26: Finance Minister Yuba Raj Khatiwada has urged insurance companies to diversify their investments and businesses to insulate the company and insurance industry from the shocks of various disasters. </p> <p>According to the Society of Economic Journalists of Nepal (SEJON), he made such remarks while speaking at the inauguration of a two-day conference of the Association of Insurers and Reinsurers in Developing Countries (AIRDC) on Tuesday, September 25. The 21st AIRDC Conference kicked off in the capital with a theme ‘Building Financial Resilience: Disaster Risk Financing and Insurance”, SEJON said in a statement.</p> <p>“If the business is concentrated in a certain sector, the risk is also going to increase. So, you [insurance companies] have to diversify the insurance businesses,” said Khatiwada.</p> <p>Stating that the majority of the insurance business of non-life insurers in Nepal is concentrated on motor business, he said their businesses should be diversified to include other sectors like industries, housing, agro and crop insurance.</p> <p>He also urged Nepal’s insurance companies to end the hassles and lengthy process of claim settlement.</p> <p>“The insurance companies should leverage technology to simplify the insurance and claim settlement and reduce the cost,” he said. “This can help attract public to toward insurance,” he added.</p> <p>The finance minister also said that developing countries face the challenge of resources and capacity to cope with the adverse impact and risks of various natural disasters as well as the adverse impact of climate change.</p> <p>Also speaking at the inaugural ceremony of the conference jointly organized by the Association of Insurers and Reinsurers in Developing Countries (AIRDC), Nepal Insurers’ Association (NIA) and Beema Samiti, Yassir Albaharna, president of the AIRDC, said that the risks and problems faced by the member countries of the association are common and the AIRDC aims at helping them to address collectively. </p> <p>The two-day long conference that has brought over 400 delegates including 88 from 20 various countries to discuss on how to build the financial resilience, disaster risk financing and insurance.</p> ', 'published' => true, 'created' => '2018-09-26', 'modified' => '2018-09-26', 'keywords' => '', 'description' => '', 'sortorder' => '8952', 'image' => '20180926114204_airdc.jpg', 'article_date' => '2018-09-26 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 7 => array( 'Article' => array( 'id' => '9172', 'article_category_id' => '1', 'title' => 'Nepal Climbs Five Spots in Economic Freedom', 'sub_title' => '', 'summary' => 'September 26: Nepal has ranked 102nd out of 162 countries and territories included in the Economic Freedom of the World: 2018 Annual Report, released on Tuesday by Samriddhi Foundation in conjunction with Canada’s Fraser Institute.', 'content' => '<p>September 26: Nepal has ranked 102nd out of 162 countries and territories included in the Economic Freedom of the World: 2018 Annual Report, released on Tuesday by Samriddhi Foundation in conjunction with Canada’s Fraser Institute. According to a press statement issued by the foundation, Nepal ranked 107th last year. Samriddhi Foundation said it is releasing the report in Nepal for the eleventh consecutive year.</p> <p>According to research in top peer-reviewed academic journals, people living in countries with high levels of economic freedom enjoy greater prosperity, more political and civil liberties, and longer lives, the statement said. And life expectancy is 79.5 years in the top quartile of countries compared to 64.4 years in the bottom quartile.</p> <p>“Where people are free to pursue their own opportunities and make their own choices, they lead more prosperous, happier and healthier lives,” the statement said.</p> <p><strong>Nepal’s Ranking</strong></p> <p>With an overall score of 6.53 (in a scale of 1 to 10 where a higher value indicates a higher level of economic freedom), Nepal ranked 102nd out of 162 jurisdictions in this year’s index. With this, Nepal has climbed five notches up in the global ranking. Last year, Nepal ranked 107th out of 159 jurisdictions with a score of 6.50. The year before, Nepal had ranked 108th out of 157 jurisdictions with a score of 6.45.</p> <p>Nepal’s scores in key components of economic freedom are:</p> <p> Size of government: dropped to 7.9 from 8.1 in the last year’s report</p> <p> Legal system and property rights: climbed to 4.6 from 4.5</p> <p> Access to sound money: as it was, on 6.4</p> <p> Freedom to trade internationally: slid to 6.6 from 6.8</p> <p> Regulation of credit, labour and business: climbed to 7.1 from 6.7</p> <p> </p> <p>Of the 24 sub-indicators within these five indicators studied in the report, Nepal climbed up in seven, slid below in five and maintained its last year’s position on 12.</p> <p><strong>International Rankings</strong></p> <p>Hong Kong and Singapore again occupied the top two positions respectively. New Zealand, Switzerland, Ireland, the United States, Georgia, Mauritius, the United Kingdom, Australia and Canada were tied for the 10 th position.</p> <p>The 10 lowest-ranked countries are Sudan, Guinea-Bissau, Angola, Central African Republic, Republic of Congo, Syria, Algeria, Argentina, Libya and last-placed Venezuela. Some despotic countries such as North Korea and Cuba can’t be ranked due to lack of data.</p> <p>Other notable countries include Germany (20th), Japan (41st), France (57th), Russia (87th), India (96th) and China (108th).</p> <p>The Fraser Institute produces the annual Economic Freedom of the World report in cooperation with the Economic Freedom Network, a group of independent research and educational institutes in nearly 100 nations and territories. Samriddhi Foundation is member of the Economic Freedom Network and is a co-publisher of the report in Nepal. The Economic Freedom of the World Report is world’s premier measurement of economic freedom, measuring and ranking countries in five areas: size of government, legal structure and security of property rights, access to sound money, freedom to trade internationally, and regulation of credit, labour and business.</p> <p> </p> ', 'published' => true, 'created' => '2018-09-26', 'modified' => '2018-09-26', 'keywords' => '', 'description' => '', 'sortorder' => '8951', 'image' => null, 'article_date' => '2018-09-26 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 8 => array( 'Article' => array( 'id' => '9171', 'article_category_id' => '1', 'title' => 'Himstar announces "Khurkiyo Ki Furkiyo" offer', 'sub_title' => '', 'summary' => 'September 26: Him Electronics, a sister concern of Golchha Organization, has announced "Khurkiyo Ki Furkiyo” campaign on the occasion of Dashain, Tihar and Chhat.', 'content' => '<p>September 26: Him Electronics, a sister concern of Golchha Organization, has announced "Khurkiyo Ki Furkiyo” campaign on the occasion of Dashain, Tihar and Chhat.</p> <p>“On the special occasion of Bada Dashain, Tihar and Chhat, the company announces guaranteed gift hampers on the purchase of Himstar TV, refrigerators, deep freezers and washing machines,” the company said in a statement issued on September 24.</p> <p>Under this scheme, customers will get gifts like rice cookers, electric thermos, electric kettles, vacuum cleaners, woofers, mixers, dry irons and steam irons of Himstar through scratch coupon.</p> <p>According to the company, this offer will be valid for a limited time period only.</p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2018-09-26', 'modified' => '2018-09-26', 'keywords' => '', 'description' => '', 'sortorder' => '8950', 'image' => '20180926111203_Himstar_mnemonic.jpg', 'article_date' => '2018-09-26 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 9 => array( 'Article' => array( 'id' => '9170', 'article_category_id' => '1', 'title' => 'BoK Card Holders to get Festive Discount', 'sub_title' => '', 'summary' => 'September 26: Bank of Kathmandu (BoK) has informed that its card holders will get attractive discounts during this festive season. ', 'content' => '<p>September 26: Bank of Kathmandu (BoK) has informed that its card holders will get attractive discounts during this festive season. The bank said in a statement that all of its debit and credit card holders are entitled to get discounts on the occasion of Dashain and Tihar at different outlets and hospitals which have been tied up with the bank. </p> <p>Sulux Center located at Durbar Marg offers 10 percent discount to the card holders of the bank while Grande Hospital will be providing 7.5 discount.</p> <p>Likewise, all outlets of LG Lifestyle Shoppe, CG Digital, Phalano Luga and Organic Chulo, Battisputali will provide 15 percent discount each.</p> <p> </p> ', 'published' => true, 'created' => '2018-09-26', 'modified' => '2018-09-26', 'keywords' => '', 'description' => '', 'sortorder' => '8949', 'image' => '20180926110324_bok.jpg', 'article_date' => '2018-09-26 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 10 => array( 'Article' => array( 'id' => '9169', 'article_category_id' => '1', 'title' => 'Mahindra’s Summit Drive Kicks Off to Everest', 'sub_title' => '', 'summary' => 'September 25: One of the leading automobile companies of India, Mahindra & Mahindra, flagged off the Summit Drive-2018 to the Everest Base Camp on Saturday under its “Mahindra Adventure” campaign, a unique experiential marketing initiatives in Nepal.', 'content' => '<p>September 25: One of the leading automobile companies of India, Mahindra & Mahindra, flagged off the Summit Drive-2018 to the Everest Base Camp on Saturday under its “Mahindra Adventure” campaign, a unique experiential marketing initiatives in Nepal.</p> <p>The Summit Drive left Kathmandu with a convoy of 29 vehicles consisting of Mahindra Scorpio, XUV500 and the Scorpio Getaway, Mahindra and Mahindra said in a statement. According to the company, the drivers will go to the Everest Base Camp on the Tibetan (China) side, overcoming the treacherous and challenging no-road conditions in Nepal and Tibet.</p> <p>“The convoy will drive through the ‘roof of the world’, Tibet, to the forbidden city of Lahsa – home of the Potala Palace and numerous monasteries. The convoy will be back to Kathmandu on October 4 covering 3000 kms,” the statement said.</p> <p>According to the company, Mahindra Adventure which started in India in 2011 is a pioneer concept of “arrive and drive” to showcase the tough and rugged DNA of Mahindra vehicles.</p> <p>“Since then, every year it has been giving people trips of a lifetime, be it the single-day off-road adventure or the multi-day expeditions to the most beautiful places in India and abroad.” </p> <p>In 2012, the company started India’s first and only dedicated off-road training academy that offers people a chance to get down and dirty and learn off-road driving from the experts. </p> <p>With the launch of “Mahindra Adventure”, the company expressed its belief that it will give wings to adventure seeking enthusiasts of Nepal.</p> <p>“It will continue to dwell in its spirit of adventure through a series of events spread across the year, spear-headed by the upcoming Rara Expedition in association with Imagine Nepal and Great Escape,” the statement further said.</p> <p> </p> <p> </p> <p> </p> <p> </p> <p style="margin-left:.1pt"> </p> <p style="margin-left:.1pt"> </p> <p> </p> ', 'published' => true, 'created' => '2018-09-25', 'modified' => '2018-09-25', 'keywords' => '', 'description' => '', 'sortorder' => '8948', 'image' => '20180925035442_IMG-20180923-WA0000.jpg', 'article_date' => '2018-09-25 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 11 => array( 'Article' => array( 'id' => '9168', 'article_category_id' => '1', 'title' => 'Furniture and Furnishing Expo attracts 75,000 visitors', 'sub_title' => '', 'summary' => 'September 25: The 5th edition of ‘Furniture and Furnishing Expo (FURNEX)’ concluded on Monday attracting a total of 75,000 visitors, the organizers said.', 'content' => '<p>September 25: The 5<sup>th</sup> edition of ‘Furniture and Furnishing Expo (FURNEX)’ concluded on Monday attracting a total of 75,000 visitors, the organizers said.</p> <p>The five-day event organized by Nepal Furniture and Furnishing Association (NFFA) had a total of 100 stalls to showcase both locally and foreign made furniture items.</p> <p>According to the organizers, the main aim of the event was to promote locally-made furniture products and to make foreign furniture products available to the local consumers.</p> <p>According to Rajesh Kumar Agrawal, president of NFFA, the expo had offered Dashain sale at a very reasonable price, which resulted in more number of visitors.</p> <p>According to the organisers, the major attraction of this year’s expo was kitchen, bedroom, and bathroom furniture, carpet, marble and other materials. Similarly, the expo also showcased other items like carpets, curtains, mattresses and decor items for homes, offices, along with home appliances.</p> <p>The event was held from September 20 to 24 at Bhrikuti Mandap. Kathmandu.</p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2018-09-25', 'modified' => '2018-09-25', 'keywords' => '', 'description' => '', 'sortorder' => '8947', 'image' => '20180925032957_IMG_8032.jpg', 'article_date' => '2018-09-25 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 12 => array( 'Article' => array( 'id' => '9167', 'article_category_id' => '1', 'title' => 'AGM of Jyoti Bikash Bank on Oct 15', 'sub_title' => '', 'summary' => 'September 25: Jyoti Bikash Bank is organizing its 11th annual general meeting (AGM) on October 15.', 'content' => '<p>September 25: Jyoti Bikash Bank is organizing its 11<sup>th</sup> annual general meeting (AGM) on October 15.</p> <p>The AGM will approve the bank’s proposal of distributing dividend of 8.4 percent from its last year’s profit.</p> <p>The meeting will also discuss on the agendas like financial report of last fiscal year, acquisition of Hamro Bikas Bank Limited with 1:1 swap ratio and maintaining the share ownership of founding members to 51 percent. The founding members of Jyoti Bikash Bank currently have a share ownership of 60.45 percent.</p> <p>The bank has decided to close the books on October 1 ahead of the AGM and the share holders are requested to record their dividend claim until September 30.</p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2018-09-25', 'modified' => '2018-09-25', 'keywords' => '', 'description' => '', 'sortorder' => '8946', 'image' => '20180925023500_jyoti.jpg', 'article_date' => '2018-09-25 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 13 => array( 'Article' => array( 'id' => '9166', 'article_category_id' => '1', 'title' => 'Bharosa Hospital to offer discount to IME customers', 'sub_title' => '', 'summary' => 'September 25: IME Group has signed an agreement with Bharosa Hospital to provide discounts to its customers on various health care facilities at the hospital.', 'content' => '<p>September 25: IME Group has signed an agreement with Bharosa Hospital to provide discounts to its customers on various health care facilities at the hospital.</p> <p>Abhinash Shrestha, business promotion chief of IME Group, and Surya Acharya, chief of administration of Bharosa Hospital, signed the agreement on behalf of their respective organizations amid an event on Monday, September 24.</p> <p> According to the agreement, the privilege card holders and partners of IME Group will receive 10 percent discount on various health care facilities at the hospital.</p> ', 'published' => true, 'created' => '2018-09-25', 'modified' => '2018-09-25', 'keywords' => '', 'description' => '', 'sortorder' => '8945', 'image' => null, 'article_date' => '2018-09-25 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ), (int) 14 => array( 'Article' => array( 'id' => '9165', 'article_category_id' => '1', 'title' => 'Xiaomi Launches 4 new Models in Nepal', 'sub_title' => '', 'summary' => 'September 25: Chinese smartphone brand Xiaomi announced its official entry into the Nepali market on Sunday, September 23.', 'content' => '<p>September 25: Chinese smartphone brand Xiaomi announced its official entry into the Nepali market on Sunday, September 23. The company also announced the launch of Mi A2, Mi A2 Lite, Redmi 6 and Redmi 6A amid a function held in Kathmandu.</p> <p>Sanket Agarwal, head of overseas expansion of Xiaomi India said that the company aims to make higher level innovation accessible to all the users at “honest pricing”.</p> <p>“We are proud to be bringing a host of new smartphones in the market which establishes our true philosophy. We are excited to bring Xiaomi officially into Nepal for millions of our Mi users here. Over the last few years, Nepal’s smartphone market has witnessed tremendous growth, and we look forward to extending our share to the local industry,” he said, adding, “We hope that with the official entry into Nepal, we will be able to bring all latest products at an honest pricing for all our Mi users.”</p> <p>According to the company, Redmi 6 features the latest Helio P22 octa-core SoC that uses an ultra-efficient 12nm processor, which consumes about 48 percent less power than compared to 28nm chipsets.</p> <p>Redmi 6 has a 5.45-inch 18:9 Full Screen Display with an HD+ resolution of 1440 x 720 pixels.</p> <p>It also has a 12MP + 5MP AI dual camera setup on the rear. Redmi 6 features AI Face Unlock for fast unlocking .</p> <p>Likewise, Mi A2 comes with a trio of Sony image sensors, including a 20MP Sony IMX376 front camera and a 12MP + 20MP AI dual camera setup.</p> <p>Powered by Qualcomm Snapdragon 660 platform with Artificial Intelligence Engine, Mi A2 offers a crisp, smooth experience.</p> <p>Mi A2 Lite is one of the first Android One devices to feature a unique 19:9 display. This 5.84” FHD+ full screen display is housed in a relatively compact body, making it very convenient for one-handed use. The screen also comes with useful features such as Auto Contrast, Reading Mode and Night Mode.</p> <p>Mi A2 Lite sports a 12MP + 5MP AI rear dual camera.</p> <p>With an impressive 4000mAh battery, Mi A2 Lite easily powers through 6 hours of continuous gaming and 34 hours of music playback, according to the company.</p> <p>Pricing and Availability</p> <p>Redmi 6 comes in 3GB + 32GB and 3GB + 64GB variants available in gold, black and blue colours. The 3GB + 32GB is priced at Rs 16,499 and 3GB + 64GB is priced at Rs 18,499.</p> <p>Redmi 6A comes in 2GB + 16GB and three colors - gold, black and blue variants for Rs 12,999.</p> <p>Mi A2 comes with 4GB of RAM and 64GB of ROM in three colors black, gold and blue in Nepal at a price of Rs 30,999. Mi A2 Lite will be available for Rs 20,999 (3GB+32GB) and Rs 24,499 (4GB+64GB).</p> <p>The company informed that all four products will be available nationwide from September 30. </p> ', 'published' => true, 'created' => '2018-09-25', 'modified' => '2018-09-25', 'keywords' => '', 'description' => '', 'sortorder' => '8944', 'image' => '20180925112650_IMG_3327.jpg', 'article_date' => '2018-09-25 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ) ) $current_user = null $logged_in = false $article = array( 'Article' => array( 'id' => '9179', 'article_category_id' => '1', 'title' => 'Nepal’s Economy to Grow at Healthy but Slower Rate in FY 2019', 'sub_title' => 'Industry sector is expected to expand by 7.2 percent in FY 2019 buoyed by improved electricity supply', 'summary' => 'September 27: Nepal’s economy is anticipated to grow by 5.5 percent (at basic prices) in fiscal year 2019, down from 5.9 percent a year earlier, says the latest Asian Development Bank (ADB) Nepal macroeconomic update.', 'content' => '<p>September 27: Nepal’s economy is anticipated to grow by 5.5 percent (at basic prices) in fiscal year 2019, down from 5.9 percent a year earlier, says the latest Asian Development Bank (ADB) Nepal macroeconomic update.</p> <p>“The growth forecast represents a continued trend reversal but is substantially higher than the average rate of 4.3 percent in the last 10 years (FY 2009-FY 2018),” said Sharad Bhandari, ADB’s principal economist for Nepal. “Growth will be supported by expectations of greater political stability following the 2017 elections, normal monsoon, and efforts to accelerate implementation of mega infrastructure projects.”</p> <p>The limited capacity at sub-national levels and challenges to smooth implementation of federalism may pose risks to growth. According to the update, some of the major issues affecting the smooth implementation of fiscal federalism are slow progress in requisite legislation and deployment of staff, the need for further clarification of mandates and responsibilities of the three tiers of government, and inconsistencies in revenue mobilization regarding fees and taxes at local levels. </p> <p>According to the ADB, the agriculture sector will likely grow from 2.8 percent in FY 2018 to 3.5 percent in FY 2019, on the back of an anticipated bumper harvest supported by a good monsoon. Industry sector is expected to expand by 7.2 percent in FY 2019 buoyed by improved electricity supply. And the services sector will likely grow by 6.1 percent in FY 2019 with the expansion of wholesale and retail trade, financial intermediation and travel and tourism subsectors.</p> <p>The update says inflation is projected to rise to 6.0 percent in FY 2019 from 4.2 percent in FY 2018, partly reflecting higher inflation expected in India, a modest rise in oil prices, and higher government expenditures under the new federal structure.</p> <p>Though revenue collection of Rs 731.4 billion (24.3 percent of GDP) slightly exceeded the budget target in FY 2018, the fiscal deficit widened to 6.7 percent of GDP with the rise in government expenditures compared to the previous year, the macroeconomic update said. While capital expenditures increased by 28.0 percent in FY 2018 with the execution rate at 79.7 percent, the hasty nature of spending has continued undermining the quality of capital projects, says the update.</p> <p>Nepal increasingly faces the risk of external sector instability due to a rising trade and current account deficit. The current account deficit of $2.4 billion (8.2 percent of GDP) in FY 2018 is significantly higher than the deficit of $95.7 million, or 0.4 percent of GDP, a year earlier. The merchandise trade deficit increased on higher import of construction materials and capital goods in FY 2018. While remittance has shown a healthy growth, a substantial rise in the near future is unlikely to offset the rise in the trade deficit, leading to further widening of the current account gap.</p> <p> </p> ', 'published' => true, 'created' => '2018-09-27', 'modified' => '2018-09-27', 'keywords' => '', 'description' => '', 'sortorder' => '8958', 'image' => '20180927011851_ADB.jpg', 'article_date' => '2018-09-27 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ) $width = null $height = nullinclude - APP/View/Articles/index.ctp, line 36 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Nepal’s Economy to Grow at Healthy but Slower Rate in FY 2019
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September 27: Nepal’s economy is anticipated to grow by 5.5 percent (at basic prices) in fiscal year 2019, down from 5.9 percent a year earlier, says the latest Asian Development Bank (ADB) Nepal macroeconomic…
