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Code Context
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			'id' => '7941',
			'article_category_id' => '217',
			'title' => 'KC Group',
			'sub_title' => '',
			'summary' => 'Surya Bahadur KC established KC Construction in 1973, taking inspiration from his father Kirti Bahadur KC who upon his return from India started a construction business and undertook construction contracts for roads in Syangja and Pokhara. ',
			'content' => '<p style="text-align:justify"><img alt="" src="/userfiles/images/Clipboard62%287%29.jpg" style="float:right; height:279px; margin:5px; width:150px" />Surya Bahadur KC established KC Construction in 1973, taking inspiration from his father Kirti Bahadur KC who upon his return from India started a construction business and undertook construction contracts for roads in Syangja and Pokhara. The same construction company now specializes in constructing hydropower projects, dams and other commercial constructions. The company is currently undertaking the construction of infrastructures on the premises of Nepal Army Headquarters, Bhadrakali.&nbsp;</p>

<p style="text-align:justify">Eight years later, after the establishment of KC Construction, KC Group established Himshree Foods, the producer of &lsquo;Rara&rsquo; noodles, a popular instant white noodle brand in Nepal, whose popularity hasn&rsquo;t faded despite strong competition from other noodle brands including Chaudhary Group&rsquo;s Wai Wai. The food processing company also manufactures brown noodles and snacks.&nbsp;</p>

<p style="text-align:justify">Starting from 2005, KC Group has made extensive investment in the hydropower sector too. The 4.8 MW Gandaki hydropower project of KC Group came into operation in 2010. The Group has since been strongly focusing on hydropower projects. Other than Gandaki hydropower project, the group currently operates 1 MW Task Hydropower project and 4.5 MW Bhagwati Hydropower project. The undertaking of hydropower projects is a key milestone in the group&rsquo;s business journey. The group has investment over NRs 2 billion in the 13 MW Sikles hydro project that has already started trial production. In addition, the construction work of Upper Madi whose PPA has already been finalised is scheduled to start soon. The group has projects such as Bijaypur-2, Jhyamulunga and Upper Seti hydro project&nbsp; in the pipeline.&nbsp;</p>

<p style="text-align:justify">In 1998, KC Group founded Machhapuchchhre Bank, the first commercial bank of Nepal based in the western region of the country. Almost two decades later, the group entered the insurance business in 2017 with Sun Nepal Life Insurance. The group operates a housing project and a golf course in Pokhara and has a strong presence in the education sector too.</p>

<p style="text-align:center"><img alt="" src="/userfiles/images/Clipboard63%286%29.jpg" style="height:1511px; width:800px" /></p>

<div style="background: rgb(230, 230, 250); padding: 10px;">
<p><span style="font-size:16px"><strong>Employment&nbsp;&nbsp;</strong></span></p>

<ul>
	<li>900 people</li>
</ul>

<p><span style="font-size:16px"><strong>Financials&nbsp;</strong></span><br />
<strong>Annual Turnover</strong></p>

<ul>
	<li>Rs 500 million from hydropower projects</li>
	<li>Rs 2 billion from construction projects</li>
</ul>

<p><span style="font-size:16px"><strong>Planned Investments&nbsp;</strong></span></p>

<ul>
	<li>Plans to reach 100 MW operating capacity by 2020 with Karuwa Hydro (36 MW), Upper Madi (7 MW), Upper Seti (20 MW), Bijaypur-2 (4.5 MW)&nbsp;</li>
	<li>Noodle Factory in Bardiya with an investment over Rs one billion</li>
</ul>
</div>
',
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			'created' => '2018-04-12',
			'modified' => '2018-04-12',
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			'description' => '',
			'sortorder' => '7722',
			'image' => '20180412101631_Clipboard61.jpg',
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			'id' => '7940',
			'article_category_id' => '217',
			'title' => 'Kedia Organization',
			'sub_title' => '',
			'summary' => 'Kedia Organization is among the oldest business houses in Nepal. Ram Kumar Kedia and his sons Mahabir Prasad Kedia and Brij Lal Kedia laid the foundation of the business house in 1909 when they ventured into business as cloth merchants. ',
			'content' => '<p style="text-align:justify"><img alt="" src="/userfiles/images/Clipboard57%288%29.jpg" style="float:right; height:327px; margin:5px; width:100px" />Kedia Organization is among the oldest business houses in Nepal. Ram Kumar Kedia and his sons Mahabir Prasad Kedia and Brij Lal Kedia laid the foundation of the business house in 1909 when they ventured into business as cloth merchants. Together, they established fabric stores in Birgunj and Kathmandu to sell clothes imported from India. Brij Lal Kedia took the initiative of expanding the group&rsquo;s business interest by trading in food grains and later established the Bhagwati Rice Mill which was a modern rice mill at the time. Brij Lal also established other food grain factories including lentils processing plants. He also stepped into construction by forging partnerships with local municipal authorities.&nbsp;</p>

<p style="text-align:justify">The third generation Kedias took the family business further. Shankar Lal Kedia expanded the group business by setting up plants to manufacture corrugated steel, steelf urniture, and stainless steel and copper utensils, textile, umbrella, socks, wheat flour, among others. The group also focused on importing a number of foreign products. According to Manoj Kedia, Kedia Organization used to export lentils to Sri Lanka, Bangladesh and a few European countries and rice to Tibet in its early days.&nbsp;</p>

<p style="text-align:justify">The group has still maintained a strong presence in trading with around a dozen firms engaged in importing a wide range of products including fabrics, paper, metals and minerals, construction supplies, fertilisers and chemicals, medicines, consumer electronics and electrical items and cosmetics. The group also represents international brands such as Haier, Hisense, Toshiba, Evernal and Mitsuma in Nepal.&nbsp;</p>

<p style="text-align:justify">In 1993, Kedia Organization established the Sundar Candles in Birgunj. In 1994, Manoj Kedia started the Sitaram Gokul Milks. The group is also engaged in the automobile and petroleum trading business. It introduced the US petroleum and lubricants brand Caltex in Nepal which is still operational in Birgunj as Kedia Auto. With its interests in the BFI sector, Kedia Organization has played a leading role in promoting Siddhartha Bank and Siddhartha Insurance which were established in 2002 and 2006 respectively. In 2017, Kedia Organization restructured its family business after realising that its presence in diverse sectors was becoming difficult to manage under the traditional family-based management system which was affecting the growth of its business interests.&nbsp;&nbsp;</p>

<p style="text-align:center"><img alt="" src="/userfiles/images/Clipboard58%289%29.jpg" style="height:1723px; width:800px" /></p>

<p style="text-align:center"><img alt="" src="/userfiles/images/Clipboard59%285%29.jpg" style="height:335px; width:800px" /></p>

<div style="background: rgb(230, 230, 250); padding: 10px;">
<p><span style="font-size:16px"><strong>Key Business</strong></span></p>

<ul>
	<li>Sugar Industry</li>
	<li>Cement Industry</li>
	<li>DAV Kedia</li>
	<li>Yeti Fabrics</li>
	<li>Sitaram Gokul Milks</li>
	<li>Siddhartha bank and insurance</li>
</ul>

<p><span style="font-size:16px"><strong>Joint Ventures</strong></span></p>

<ul>
	<li>Brij Cement is a joint venture between Kedia and Indian company, Shanta Cement Pvt Ltd.&nbsp;</li>
	<li>Arghakhanchi Cement is a joint venture between Uma Cement International, India and Kedia Group, Siddhartha Group and Murarka Group from Nepal</li>
</ul>

<p><span style="font-size:16px"><strong>Planned Investments</strong></span></p>

<ul>
	<li>Hydropower projects</li>
	<li>Oil and gas exploration and thermal power plant,&nbsp;</li>
	<li>General and life insurance company</li>
	<li>Housing &amp; Real Estate Development (Greenwood Villa)</li>
	<li>Manufacturing industry in the area of steel, plastic, sugar and medicines&nbsp;</li>
	<li>Spices processing and agro-forestry</li>
</ul>
</div>
',
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			'description' => '',
			'sortorder' => '7721',
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			'id' => '7939',
			'article_category_id' => '217',
			'title' => 'Keyal Group',
			'sub_title' => '',
			'summary' => 'Keyal Group’s history can be traced back to more than a century when Gauri Shanker Keyal started as a clothes merchant. In 1951, Gulab Raj Keyal, son of Gauri Shanker Keyal opened a saw and a rice mill in Birgunj. It was a stepping stone in the formation of the Birgunj-based industrial and trading house. ',
			'content' => '<p style="text-align:justify"><img alt="" src="/userfiles/images/Clipboard56%286%29.jpg" style="float:right; height:286px; margin:5px; width:90px" />Keyal Group&rsquo;s history can be traced back to more than a century when Gauri Shanker Keyal started as a clothes merchant. In 1951, Gulab Raj Keyal, son of Gauri Shanker Keyal opened a saw and a rice mill in Birgunj. It was a stepping stone in the formation of the Birgunj-based industrial and trading house. However, the Keyal family kept a low profile for most of the next 35 years.&nbsp; Keyal Group&rsquo;s defining moment arrived in 1986 when Satya Narayan Keyal, son of Gulab Raj Keyal, started a hardware and paints store in Birgunj, moving away from his family business of fabrics and food grains. He then became a construction materials supplier, particularly of steel and iron products, to the local manufacturing industry. In 1993, the opening of a hardware store in Kathmandu proved to be a milestone in the group&rsquo;s history. The hardware store chain now has 11 outlets across the country of which seven are located in Kathmandu.&nbsp;</p>

<p style="text-align:justify">The group started the Narayani Rolling Mills in 1994 and commenced production of steel products. In 1999, the group established Shree Krishna Steels that manufactured steel pipes and shuttering profiles. In 2002, the group entered the cement business by setting up Star Cement Industry. In 2016, the group established Gorkha Feed Industries to produce feed for poultry, fish and cattle.&nbsp;</p>

<p style="text-align:justify">In 2017, the group established Gorkha Wire Industries and AAC Blocks Industries. In recent years, the group has expanded its portfolio further into a broad range of other trading sectors such as food grains, pharmaceuticals, surgical products, consumer electronics and a variety of hardware accessories and tools.</p>

<p style="text-align:center"><img alt="" src="/userfiles/images/Clipboard54%287%29.jpg" /></p>

<div style="background: rgb(230, 230, 250); padding: 10px;">
<p><span style="font-size:16px"><strong>Employment&nbsp;</strong></span></p>

<ul>
	<li>1,000 people</li>
</ul>

<p><span style="font-size:16px"><strong>Key Revenue Generator</strong></span></p>

<ul>
	<li>Steel and cement&nbsp;</li>
	<li>Trading of construction materials and hardware</li>
</ul>
</div>
',
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			'sortorder' => '7720',
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			'id' => '7938',
			'article_category_id' => '217',
			'title' => 'Khetan Group',
			'sub_title' => '',
			'summary' => 'The foundation of Khetan Group was laid by Kishun Ram Khetan (great-great grandfather of Rajendra Khetan) some 170 years ago during the Nepal-Tibet War of 1855-1856. He supplied rice and salt to the Nepali soldiers. After the war, Khetan continued his venture as a trading business.',
			'content' => '<p style="text-align:justify"><img alt="" src="/userfiles/images/Clipboard51%2815%29.jpg" style="float:right; height:472px; margin:5px; width:90px" />The foundation of Khetan Group was laid by Kishun Ram Khetan (great-great grandfather of Rajendra Khetan) some 170 years ago during the Nepal-Tibet War of 1855-1856. He supplied rice and salt to the Nepali soldiers. After the war, Khetan continued his venture as a trading business. Besides the local business, the Khetan family started importing fabrics from India in 1910. It was Kishun Ram&rsquo;s son Purna Mal Bihari Lal Khetan who established the Khetan Group. In 1937, the Khetans registered their firm and became one among the first 32 registered companies in Nepal.&nbsp; His son Mohan Gopal Khetan took the family run business into a new era by stepping into different industrial and business sectors. In 1970, Khetan Group started its first business diversification by exporting jute and lentils. The group in the mid-1970s commenced Bottlers Nepal Limited thereby beginning the bottling and supplying of Coca-Cola in Nepal. Gorkha Brewery is another milestone for the group which was established in 1989 as a joint venture with Danish multinational company Carlsberg Breweries.In 1990, the launch of Tuborg Beer by Gorkha Brewery marked the first international beer brand produced in Nepal. Production of Carlsberg started in 1995. The company since 2004 has been brewing and marketing the Filipino beer brand San Miguel Beer by acquiring Mount Everest Brewery. Khetan Group is also among the business houses that helped foster the BFI sector in Nepal in the 1990s and 2000s. The establishment of the Himalayan Bank Limited in 1993 is an example in this regard where the group partnered with other Nepali business houses and the Habib Bank of Pakistan to form a joint venture. Similarly, the group also stepped into the insurance market in 1994 with the establishment of the Everest Insurance Company. Another major banking venture for the group came in 2002 as Laxmi Bank Limited which was established as the 16th commercial bank in the country. In 2007, Khetan Group initiated Prime Life Insurance Company.&nbsp; Earlier, Khetan Group had also invested in the aviation sector. It established the Nepal Air Charter Service which is the first private sector airline in Nepal. In 1992, the group commenced Everest Air which was among the major domestic airliners in the early and mid 1990s. In 2000, the group further diversified its manufacturing portfolio by entering into snacksproduction by establishing the Himalayan Snax &amp; Noodles Company in a joint venture with Thai Presidents Foods.&nbsp;&nbsp;</p>

<p style="text-align:center"><img alt="" src="/userfiles/images/Clipboard52%2812%29.jpg" /></p>

<div style="background: rgb(230, 230, 250); padding: 10px;">
<p><span style="font-size:16px"><strong>Financials&nbsp;</strong></span></p>

<ul>
	<li>Net Worth: Rs 50 Billion</li>
</ul>

<p><span style="font-size:16px"><strong>Annual revenue from shareholder fund</strong></span></p>

<ul>
	<li>Rs 3 billion</li>
</ul>

<p><span style="font-size:16px"><strong>Key Revenue generator</strong></span></p>

<ul>
	<li>FMCG and financial sector</li>
</ul>

<p><span style="font-size:16px"><strong>Planned Investments</strong></span></p>

<ul>
	<li>Life Insurance, Non-life Insurance, Re-insurance</li>
	<li>Venture Capital/Private Equity/Hedge Fund</li>
	<li>Credit Rating, stock brokerage, stock exchange</li>
	<li>Mutual fund venture&nbsp;</li>
	<li>FinTech</li>
	<li>If the government allows investment in foreign lands, Khetan may look into expansion beyond the borders</li>
</ul>
</div>
',
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			'description' => '',
			'sortorder' => '7719',
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		'Article' => array(
			'id' => '7937',
			'article_category_id' => '1',
			'title' => 'Chinese University to Provide Scholarships to Students of Bharatpur Metropolis',
			'sub_title' => '',
			'summary' => 'April 11: Xiangya Nursing School under Central South University has signed an agreement with Bharatpur Metropolitan City to provide scholarships to deserving students of the metropolis.',
			'content' => '<p>April 11: Xiangya Nursing School under Central South University has signed an agreement with Bharatpur Metropolitan City to provide scholarships to deserving students of the metropolis.</p>

<p>Renu Dahal, mayor of Bharatpur and Prof Thanh Xuan, dean of the nursing school, signed the agreement amid a programme on April 10.</p>

<p>&ldquo;The agreement has been made with Bharatpur metropolis to provide full and partial scholarships to 20 and 50 deserving students respectively,&rdquo; reads a joint statement issued by the university and the metropolis. The scholarship will be provided to hard-working students and those from weak financial background.&nbsp; &nbsp;</p>

<p>Speaking at the programme, Dahal mentioned that the agreement will not only assist the educational sector but will help Chitwan prosper. Similarly, expressing his optimism, Prof Thanh committed to move forward other projects under One Belt One Road Project.</p>
',
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			'keywords' => '',
			'description' => '',
			'sortorder' => '7718',
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			'id' => '7936',
			'article_category_id' => '1',
			'title' => 'Mega Bank Introduces 'Sarbapriya' Saving Account',
			'sub_title' => '',
			'summary' => 'April 11: Mega Bank has introduced a new programme under its saving and fixed deposit account.',
			'content' => '<p>April 11: Mega Bank has introduced a new programme under its saving and fixed deposit account. Issuing a press statement on Tuesday, the bank said that it has started &quot;Sarbapriya&quot; saving account with 8 percent interest rate on the occasion of Nepali New Year.</p>

<p>&ldquo;The bank will provide free services like Visa debit card, credit card, online banking, SMS service, ABBS facility, cheque book and account statement under the newly introduced programme,&rdquo; a statement issued by the bank said, adding that the account holders can get discount up to Rs 500,000 in accidental insurance scheme and locker service.</p>

<p>The bank has introduced 60 days&#39; fixed deposit account with 10 percent interest rate and 1 year fixed deposit account in which the account holder can get interest rate of 11 percent. The programme will come into operation from April, 15. &nbsp;&nbsp;</p>
',
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			'keywords' => '',
			'description' => '',
			'sortorder' => '7717',
			'image' => '20180411043329_Mega_Bank.jpg',
			'article_date' => '2018-04-11 00:00:00',
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	(int) 6 => array(
		'Article' => array(
			'id' => '7935',
			'article_category_id' => '1',
			'title' => 'New Year Schemes Galore Automobile Market ',
			'sub_title' => '',
			'summary' => 'April 11: Automobile dealers have introduced various schemes for the upcoming Nepali New Year for the buyers. ',
			'content' => '<p>April 11: Automobile dealers have introduced various schemes for the upcoming Nepali New Year for the buyers. The dealers have decided to facilitate the buyers with cash discounts and various facilities on the purchase.&nbsp;</p>

<p>Laxmi Intercontinental, the sales agent of Hyundai Motors, has introduced&#39; Hyundai New Year Delight&#39; scheme for the New Year.&nbsp; The company introduced the scheme from March 22 offering cash discount up to Rs 713,000. Similarly exchange offer along with finance facilities have also been introduced.</p>

<p>Buyers under the discount scheme are offered instant cash discount between Rs 165,900 to Rs 713,000 on purchases of Eon and Santa Fe cars. The company is also offering free servicing for 4 years and warranty of 3 years along with the discount. This scheme will last until the first month of the Nepali New Year (mid-March).</p>

<p>Likewise, Sipradi Trading, the authorized dealers of Tata Motors, has launched &quot;Sunaulo New Year&quot; scheme. The company said it intoduced the scheme with the aim of assisting the customers with extra comfort.</p>

<p>Under this scheme, Tata is offering 69.9 gm of gold in purchase of every passenger vehicle except for Nexon car. Besides, the costumers are also offered free insurance and accessories for a year on purchase of Tata vehicles. The company will be paying the vehicle and road tax for a year under this scheme.</p>

<p>Similarly, CG Motors, the authorized dealers of Suzuki Motors, is offering cash discount worth Rs 30,000-Rs 150,000 along with free insurance facility under its New Year scheme.</p>

<p>MAW, the authorized distributor of Skoda cars, have also introduced attractive New Year scheme since the last one month. Skoda is offered with only 35 percent of down payment and 65 percent finance facility with only 8.99 percent interest rate. The scheme is only offered for Rapid Skoda car.&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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		'Article' => array(
			'id' => '7934',
			'article_category_id' => '1',
			'title' => '“China Always Ready to Support Nepal”',
			'sub_title' => '',
			'summary' => 'April 11: The Chinese government on Wednesday officially handed over the 1 MW solar power system installed at Singha Durbar – the administrative hub of the nation.',
			'content' => '<p>April 11: The Chinese government&nbsp;on Wednesday&nbsp;officially handed over the 1 MW solar power system installed at Singha Durbar &ndash; the administrative hub of the nation. The power generated from the system will be connected to the national grid.</p>

<p>Prime Minister KP Sharma Oli and Chinese Ambassador to Nepal Yu Hong jointly inaugurated the solar system amid a function in Kathmandu on April 10. The solar power system is installed at more than 20 government authorities of Singah Durbar.</p>

<p>Addressing the event, PM Oli said that the development of solar power system is a must to provide energy in the rural parts of the country, where supplying electrical energy is very difficult.</p>

<p>&ldquo;We have enough resources. In Nepal, supplying electrical energy to the rural parts is very costly,&rdquo; Oli said. &ldquo;So, installing solar and wind power in the remote areas will also help for the overall development of the country and to create employment opportunities.&rdquo;</p>

<p>Likewise, Chinese Ambassador to Nepal Yu Hong said that the Chinese government will always support Nepal for its development through different projects. She further added that the Chinese government had installed a total of 35,000 sets of household solar power system with a total generation capacity of 750kW.</p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '7933',
			'article_category_id' => '1',
			'title' => 'ADB Projects 4.9 Percent Growth Rate of Nepal',
			'sub_title' => '',
			'summary' => 'April 11: Asian Development Bank has projected Nepal's economy to grow by 4.9 percent in the current fiscal year, down from the growth rate of 6.9 percent in FY 2017-18. ',
			'content' => '<p>April 11: Asian Development Bank has projected Nepal&#39;s economy to grow by 4.9 percent in the current fiscal year, down from the growth rate of 6.9 percent in FY 2017-18. A macroeconomic update unveiled by the ADB on Wednesday, April 11, attributed the slow pace of growth to the floods of August 2017.</p>

<p>This is a slight upward revision of the 4.7 percent growth forecast published in the September edition of the Macroeconomic Update 2017 reflecting somewhat better-than-expected harvest despite floods in mid-August, the report said.</p>

<p>Preliminary data from the Ministry of Agricultural, Land Management and Cooperatives show that paddy production this fiscal year will fall to 5.1 million tons, a decrease of 1.5 percent from a year earlier, ADB&#39;s Country Director for Nepal Mukhtor Khamudkhanov read the report during a function organised in the capital.</p>

<p>&quot;The production of other summer crops like maize and millet are expected to increase in FY2018 compared to the previous year. Even with increased capacity utilization of industries, industrial growth is set to be lower in FY2018 from the high rate in FY2017, largely due to low investment in the manufacturing sub-sector for years owing to political instability and structural bottlenecks,&quot; the report states.</p>

<p>The services sector will however remain buoyant given the expansion of wholesale and retail trade, financial intermediation and travel and tourism sub-sectors, according to the report.</p>

<p>On the demand side, substantive growth in government expenditures and a moderate uptick in investment will drive growth in FY2018, ADB informed.</p>

<p>&quot;The construction needs particularly for establishing provincial and local governments, the acceleration of post-earthquake reconstruction, and planned disbursement of relief grants to earthquake victims will induce growth. Government expenditures have increased significantly this fiscal year partly for local, provincial and parliamentary elections. Additionally, the government has apportioned fiscal transfer of Rs 232.2 billion (about 8.0 percent of GDP) to local and provincial governments under the federal structure of governance. Private investment has increased in sectors such as hydro and cement.&quot;</p>

<p>Meanwhile, ADB has envisaged 5.5 percent GDP growth for FY2019. According to ADB, this higher forecast hinges on the assumption of normal monsoon and acceleration of ongoing mega projects.</p>

<p>Notably, the Upper Tamakoshi Hydropower Project of 456 megawatt will likely be added to the national grid by FY2019, ending the country&rsquo;s reliance on power import at least during the rainy season.</p>

<p>Average annual inflation is expected to rise moderately to 5.5 percent in FY2018 from 4.5 percent in FY2017. This is below the inflation target of 7.0 percent set by Nepal Rastra Bank, the central bank.</p>

<p>Inflation as of mid-February 2018 moderated on the back of modest oil prices, ease in the supply of goods, and subdued inflation in India-the major trading partner to whose currency the Nepali rupee is pegged, according to the report.</p>

<p>&quot;It will nonetheless likely inch up in the remaining months of FY2018 as base effects erode and government expenditures increase with the fiscal transfers provided to meet spending needs of provincial and local governments and the planned disbursement of relief grants to earthquake victims,&quot; the report states.</p>

<p>The ADB report further states that the average annual inflation will likely edge up to 6.0% in FY2019, lower than the average inflation of 8.1% for FY2013-FY2017, assuming a normal harvest, a modest increase in oil prices and subdued inflation in India.</p>

<p>Meanwhile, revenue collection increased by about 21.0 percent year-on-year in the first seven months of FY2018 compared to a year earlier period. It increased primarily on higher import growth. As per the report, import growth has outpaced export growth leading to a widening trade deficit. Merchandise exports increased by 19.2 percent year-on-year to $ 523.7 million in the first seven months of FY2018, marginally lower than the 19.8 percent rate in the corresponding period a year earlier.</p>

<p>This edition of Macroeconomic Update&rsquo;s Issue Focus sheds light on the importance of agricultural commercialization in Nepal and the need for its effective implementation by addressing legal, institutional, financial and infrastructural barriers. With about one-third share of GDP, agriculture continues to provide livelihood to two-thirds of the country&rsquo;s population, but mostly at a subsistence level.</p>

<p>According to the report, Nepal today is largely a food deficient country evident in growing imports of agriculture and livestock products. Even the export performance of potentially competitive agro-products is discouraging. The inability to enhance agricultural productivity commensurate with growing population has fueled agricultural trade deficit. Productivity has stagnated owing to limits on the adoption of improved technology, poor market linkages, infrastructure bottlenecks, and quality issues.The report suggests that commercialized agriculture via contract and cooperative farming methods can be one of the major sources of revenue generation for the country if practiced on a wider scale.</p>

<p>&nbsp;</p>
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			'sortorder' => '7714',
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		'Article' => array(
			'id' => '7932',
			'article_category_id' => '1',
			'title' => 'Macchapuchre, Civil banks to finance 70 percent for Paggio',
			'sub_title' => '',
			'summary' => 'April 11: Vivek Automobiles has signed an agreement with Machhapuchre Bank and Civil Bank for investing in Piaggio three-wheelers.',
			'content' => '<p>April 11: Vivek Automobiles has signed an agreement with Machhapuchre Bank and Civil Bank for investing in Piaggio three-wheelers. The banks have agreed to finance up to 70 percent for the purchase of the three-wheeler brand.&nbsp;&nbsp;</p>

<p>The agreement was signed by Vivek Dugar, CEO of Vivek Automobiles Pvt Ltd, Sujit Kumar Shakya, chief business officer of Civil Bank, and Sarju Thapa, chief business officer of Machhapuchre Bank. The three-wheelers can be used to carry passengers and also carry loads from one place to another. The transport vehicle can be operated with small investment.</p>

<p>According to Vivek Dugar, bringing the three-wheelers in Kathmandu will contribute in creating employment. Vivek Automobiles is the authorised distributor of Piaggio in Nepal.</p>
',
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			'keywords' => '',
			'description' => '',
			'sortorder' => '7713',
			'image' => null,
			'article_date' => '2018-04-11 00:00:00',
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	(int) 10 => array(
		'Article' => array(
			'id' => '7931',
			'article_category_id' => '1',
			'title' => 'Siddhartha Bank extends financial support to Nepal Eye Hospital',
			'sub_title' => '',
			'summary' => 'April 11: Siddhartha Bank has extended financial support of Rs 110,000 to Nepal Eye Hospital, Tripureshwor to carry out cataract surgery of 44 marginalized cataract patients as part of the corporate social responsibility of the bank.',
			'content' => '<p>April 11: Siddhartha Bank has extended financial support of Rs 110,000 to Nepal Eye Hospital, Tripureshwor to carry out cataract surgery of 44 marginalized cataract patients as part of the corporate social responsibility of the bank.</p>

<p>Deputy General Manager of the bank, Rameshwor Prasad Bashyal, handed over the cheque of Rs 110,000 to Biswa Kanta Mainali, chairman of Nepal Eye Hospital amidst a function organised on the occasion of 44<sup>th</sup> anniversary of Nepal Eye Hospital.</p>

<p>DGM Bashyal expressed his immense gratification on behalf of Siddhartha Bank for having had an opportunity to serve the society and assured that the bank will continue to address the needs of the community and work for the betterment of the Nepali society in the future as well.</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'sortorder' => '7712',
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			'id' => '7930',
			'article_category_id' => '1',
			'title' => 'NIC Asia Bank signs loan agreement with IFC',
			'sub_title' => '',
			'summary' => 'April 11: NIC Asia Bank Ltd and International Finance Corporation (IFC), a member of World Bank Group, have signed a loan agreement.',
			'content' => '<p>April 11: NIC Asia Bank Ltd and International Finance Corporation (IFC), a member of World Bank Group, have signed a loan agreement.</p>

<p>Issuing a press statement, NIC Asia Bank said that its Acting CEO Roshan K Neupane and Mohammed Rehan Rashid, resident representative of IFC, signed the agreement on behalf of their respective organisations. The loan from IFC is subject to approval from Nepal Rastra Bank.</p>

<p>According to the statement, IFC assists developing countries to achieve sustainable growth by financing investment, providing advisory services to businesses and governments, and mobilizing capital in the international financial markets.</p>

<p>&quot;With the anticipation of continuing stress on domestic liquidity and continued pressure on Balance of Payments (BOP), the liquidity outlook does not appear to be on optimistic side thus leading to inadequate deposits supply to support the credit growth required to secure targeted economic growth of the country. Therefore, the bank has approached international banks and financial institutions to secure long-term borrowings to facilitate credit growth in priority sectors,&quot; the statement further reads.</p>

<p>The bank said it believes this kind of initiation with IFC would open opportunities for domestic banks to borrow from international banks setting up a historic milestone in the Nepali banking arena.</p>

<p>The loan obtained from IFC shall be mobilized in extending credit to the productive sectors designated by the central bank.</p>

<p>NIC Asia Bank is currently operating with its network of 192 branches, 195 ATM&rsquo;s, four extension counters and four branchless banking locations across the country.</p>
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			'id' => '7929',
			'article_category_id' => '1',
			'title' => 'TVS Exchange Jatra Held',
			'sub_title' => '',
			'summary' => 'April 11: After the success of exchange camps in the past, TVS recently held TVS Exchange Jatra focusing on customers' needs.',
			'content' => '<p>April 11: After the success of exchange camps in the past, TVS recently held TVS Exchange Jatra focusing on customers&#39; needs. The Exchange Jatra which took place at Sallaghari Ground in Bhaktapur, saw notable footfall and customer participation.</p>

<p>The jatra was held April 6 to 10 and provided many customer-centric offers, the company said in a statement. According to the marketing head of Jagdamba Motors Pvt Ltd, any motorcycle or scooter of any condition was exchanged with a new TVS motorcycle or scooter at a minimum valuation of Rs 25,000.&nbsp;</p>

<p>Along with the best valuation of bikes/scooters, the New Year&rsquo;s gift of Rs 8001 instant cash back was also provided. The Exchange Jatra also offered free gift hampers in every test ride, a free TVS helmet worth Rs 2500, one smart phone every day for one person through lucky draw, quizzes and other attractions.</p>

<p>The company claimed that the Jatra, which was organized to make the customers&#39; two-wheeler purchase and exchange process easier, was held successfully. According to the company, the Jatra will be held again at various pre-informed locations soon.</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'id' => '7928',
			'article_category_id' => '1',
			'title' => 'Agni Energy Opens Mahindra Electric Service Station',
			'sub_title' => '',
			'summary' => 'April 11: Agni Energy Pvt Ltd, a subsidiary of Agni Group and the authorised distributor of Mahindra electric vehicles (EVs) and generators, has opened its new service station for EVs at Kupondole.',
			'content' => '<p>April 11: Agni Energy Pvt Ltd, a subsidiary of Agni Group and the authorised distributor of Mahindra electric vehicles (EVs) and generators, has opened its new service station for EVs at Kupondole.</p>

<p>Kunda Dixit, the editor -in-chief and publisher of Nepali Times, inaugurated the station amid a function on Tuesday, April 10. Issuing a press release, the company said that the station has been established to provide the best after-sales service and international brand experience to its customers.</p>

<p>According to the company, the service center will act as pre-delivery inspection unit (PDI) for Mahindra e2o and Mahindra eSupro to ensure that the customers receive the car in the best condition without damages.</p>

<p>The station will not only provide servicing and spare parts for Mahindra&#39;s electric cars, Mahindra e2p and eSupro, but also provide spare parts and services for house Kevin invertors, Konstant battery and Mahindra Powerol Generator, reads the statement.</p>
',
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			'title' => 'NCC Bank and Reliance Life Insurance Ink Bancassurance Agreement',
			'sub_title' => '',
			'summary' => 'April 11: Nepal Credit and Commerce (NCC) Bank and Reliance Life Insurance have signed an agreement to commence bancassurance service to the customers.',
			'content' => '<p>April 11: Nepal Credit and Commerce (NCC) Bank and Reliance Life Insurance have signed an agreement to commence bancassurance service to the customers.</p>

<p>The bank&#39;s CEO Ranesh Raj Aryal and the insurance company&#39;s CEO Prabin Raman Parajuli signed an agreement amid a function on Tuesday, April 10. Following the agreement, the bank&#39;s customers can access any kind of insurance service provided by the insurance company.</p>
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		'Article' => array(
			'id' => '7941',
			'article_category_id' => '217',
			'title' => 'KC Group',
			'sub_title' => '',
			'summary' => 'Surya Bahadur KC established KC Construction in 1973, taking inspiration from his father Kirti Bahadur KC who upon his return from India started a construction business and undertook construction contracts for roads in Syangja and Pokhara. ',
			'content' => '<p style="text-align:justify"><img alt="" src="/userfiles/images/Clipboard62%287%29.jpg" style="float:right; height:279px; margin:5px; width:150px" />Surya Bahadur KC established KC Construction in 1973, taking inspiration from his father Kirti Bahadur KC who upon his return from India started a construction business and undertook construction contracts for roads in Syangja and Pokhara. The same construction company now specializes in constructing hydropower projects, dams and other commercial constructions. The company is currently undertaking the construction of infrastructures on the premises of Nepal Army Headquarters, Bhadrakali.&nbsp;</p>

<p style="text-align:justify">Eight years later, after the establishment of KC Construction, KC Group established Himshree Foods, the producer of &lsquo;Rara&rsquo; noodles, a popular instant white noodle brand in Nepal, whose popularity hasn&rsquo;t faded despite strong competition from other noodle brands including Chaudhary Group&rsquo;s Wai Wai. The food processing company also manufactures brown noodles and snacks.&nbsp;</p>

<p style="text-align:justify">Starting from 2005, KC Group has made extensive investment in the hydropower sector too. The 4.8 MW Gandaki hydropower project of KC Group came into operation in 2010. The Group has since been strongly focusing on hydropower projects. Other than Gandaki hydropower project, the group currently operates 1 MW Task Hydropower project and 4.5 MW Bhagwati Hydropower project. The undertaking of hydropower projects is a key milestone in the group&rsquo;s business journey. The group has investment over NRs 2 billion in the 13 MW Sikles hydro project that has already started trial production. In addition, the construction work of Upper Madi whose PPA has already been finalised is scheduled to start soon. The group has projects such as Bijaypur-2, Jhyamulunga and Upper Seti hydro project&nbsp; in the pipeline.&nbsp;</p>

<p style="text-align:justify">In 1998, KC Group founded Machhapuchchhre Bank, the first commercial bank of Nepal based in the western region of the country. Almost two decades later, the group entered the insurance business in 2017 with Sun Nepal Life Insurance. The group operates a housing project and a golf course in Pokhara and has a strong presence in the education sector too.</p>

<p style="text-align:center"><img alt="" src="/userfiles/images/Clipboard63%286%29.jpg" style="height:1511px; width:800px" /></p>

<div style="background: rgb(230, 230, 250); padding: 10px;">
<p><span style="font-size:16px"><strong>Employment&nbsp;&nbsp;</strong></span></p>

<ul>
	<li>900 people</li>
</ul>

<p><span style="font-size:16px"><strong>Financials&nbsp;</strong></span><br />
<strong>Annual Turnover</strong></p>

<ul>
	<li>Rs 500 million from hydropower projects</li>
	<li>Rs 2 billion from construction projects</li>
</ul>

<p><span style="font-size:16px"><strong>Planned Investments&nbsp;</strong></span></p>

<ul>
	<li>Plans to reach 100 MW operating capacity by 2020 with Karuwa Hydro (36 MW), Upper Madi (7 MW), Upper Seti (20 MW), Bijaypur-2 (4.5 MW)&nbsp;</li>
	<li>Noodle Factory in Bardiya with an investment over Rs one billion</li>
</ul>
</div>
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			'title' => 'Kedia Organization',
			'sub_title' => '',
			'summary' => 'Kedia Organization is among the oldest business houses in Nepal. Ram Kumar Kedia and his sons Mahabir Prasad Kedia and Brij Lal Kedia laid the foundation of the business house in 1909 when they ventured into business as cloth merchants. ',
			'content' => '<p style="text-align:justify"><img alt="" src="/userfiles/images/Clipboard57%288%29.jpg" style="float:right; height:327px; margin:5px; width:100px" />Kedia Organization is among the oldest business houses in Nepal. Ram Kumar Kedia and his sons Mahabir Prasad Kedia and Brij Lal Kedia laid the foundation of the business house in 1909 when they ventured into business as cloth merchants. Together, they established fabric stores in Birgunj and Kathmandu to sell clothes imported from India. Brij Lal Kedia took the initiative of expanding the group&rsquo;s business interest by trading in food grains and later established the Bhagwati Rice Mill which was a modern rice mill at the time. Brij Lal also established other food grain factories including lentils processing plants. He also stepped into construction by forging partnerships with local municipal authorities.&nbsp;</p>

<p style="text-align:justify">The third generation Kedias took the family business further. Shankar Lal Kedia expanded the group business by setting up plants to manufacture corrugated steel, steelf urniture, and stainless steel and copper utensils, textile, umbrella, socks, wheat flour, among others. The group also focused on importing a number of foreign products. According to Manoj Kedia, Kedia Organization used to export lentils to Sri Lanka, Bangladesh and a few European countries and rice to Tibet in its early days.&nbsp;</p>

<p style="text-align:justify">The group has still maintained a strong presence in trading with around a dozen firms engaged in importing a wide range of products including fabrics, paper, metals and minerals, construction supplies, fertilisers and chemicals, medicines, consumer electronics and electrical items and cosmetics. The group also represents international brands such as Haier, Hisense, Toshiba, Evernal and Mitsuma in Nepal.&nbsp;</p>

<p style="text-align:justify">In 1993, Kedia Organization established the Sundar Candles in Birgunj. In 1994, Manoj Kedia started the Sitaram Gokul Milks. The group is also engaged in the automobile and petroleum trading business. It introduced the US petroleum and lubricants brand Caltex in Nepal which is still operational in Birgunj as Kedia Auto. With its interests in the BFI sector, Kedia Organization has played a leading role in promoting Siddhartha Bank and Siddhartha Insurance which were established in 2002 and 2006 respectively. In 2017, Kedia Organization restructured its family business after realising that its presence in diverse sectors was becoming difficult to manage under the traditional family-based management system which was affecting the growth of its business interests.&nbsp;&nbsp;</p>

<p style="text-align:center"><img alt="" src="/userfiles/images/Clipboard58%289%29.jpg" style="height:1723px; width:800px" /></p>

<p style="text-align:center"><img alt="" src="/userfiles/images/Clipboard59%285%29.jpg" style="height:335px; width:800px" /></p>

<div style="background: rgb(230, 230, 250); padding: 10px;">
<p><span style="font-size:16px"><strong>Key Business</strong></span></p>

<ul>
	<li>Sugar Industry</li>
	<li>Cement Industry</li>
	<li>DAV Kedia</li>
	<li>Yeti Fabrics</li>
	<li>Sitaram Gokul Milks</li>
	<li>Siddhartha bank and insurance</li>
</ul>

<p><span style="font-size:16px"><strong>Joint Ventures</strong></span></p>

<ul>
	<li>Brij Cement is a joint venture between Kedia and Indian company, Shanta Cement Pvt Ltd.&nbsp;</li>
	<li>Arghakhanchi Cement is a joint venture between Uma Cement International, India and Kedia Group, Siddhartha Group and Murarka Group from Nepal</li>
</ul>

<p><span style="font-size:16px"><strong>Planned Investments</strong></span></p>

<ul>
	<li>Hydropower projects</li>
	<li>Oil and gas exploration and thermal power plant,&nbsp;</li>
	<li>General and life insurance company</li>
	<li>Housing &amp; Real Estate Development (Greenwood Villa)</li>
	<li>Manufacturing industry in the area of steel, plastic, sugar and medicines&nbsp;</li>
	<li>Spices processing and agro-forestry</li>
</ul>
</div>
',
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		'Article' => array(
			'id' => '7939',
			'article_category_id' => '217',
			'title' => 'Keyal Group',
			'sub_title' => '',
			'summary' => 'Keyal Group’s history can be traced back to more than a century when Gauri Shanker Keyal started as a clothes merchant. In 1951, Gulab Raj Keyal, son of Gauri Shanker Keyal opened a saw and a rice mill in Birgunj. It was a stepping stone in the formation of the Birgunj-based industrial and trading house. ',
			'content' => '<p style="text-align:justify"><img alt="" src="/userfiles/images/Clipboard56%286%29.jpg" style="float:right; height:286px; margin:5px; width:90px" />Keyal Group&rsquo;s history can be traced back to more than a century when Gauri Shanker Keyal started as a clothes merchant. In 1951, Gulab Raj Keyal, son of Gauri Shanker Keyal opened a saw and a rice mill in Birgunj. It was a stepping stone in the formation of the Birgunj-based industrial and trading house. However, the Keyal family kept a low profile for most of the next 35 years.&nbsp; Keyal Group&rsquo;s defining moment arrived in 1986 when Satya Narayan Keyal, son of Gulab Raj Keyal, started a hardware and paints store in Birgunj, moving away from his family business of fabrics and food grains. He then became a construction materials supplier, particularly of steel and iron products, to the local manufacturing industry. In 1993, the opening of a hardware store in Kathmandu proved to be a milestone in the group&rsquo;s history. The hardware store chain now has 11 outlets across the country of which seven are located in Kathmandu.&nbsp;</p>

<p style="text-align:justify">The group started the Narayani Rolling Mills in 1994 and commenced production of steel products. In 1999, the group established Shree Krishna Steels that manufactured steel pipes and shuttering profiles. In 2002, the group entered the cement business by setting up Star Cement Industry. In 2016, the group established Gorkha Feed Industries to produce feed for poultry, fish and cattle.&nbsp;</p>

<p style="text-align:justify">In 2017, the group established Gorkha Wire Industries and AAC Blocks Industries. In recent years, the group has expanded its portfolio further into a broad range of other trading sectors such as food grains, pharmaceuticals, surgical products, consumer electronics and a variety of hardware accessories and tools.</p>

<p style="text-align:center"><img alt="" src="/userfiles/images/Clipboard54%287%29.jpg" /></p>

<div style="background: rgb(230, 230, 250); padding: 10px;">
<p><span style="font-size:16px"><strong>Employment&nbsp;</strong></span></p>

<ul>
	<li>1,000 people</li>
</ul>

<p><span style="font-size:16px"><strong>Key Revenue Generator</strong></span></p>

<ul>
	<li>Steel and cement&nbsp;</li>
	<li>Trading of construction materials and hardware</li>
</ul>
</div>
',
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			'description' => '',
			'sortorder' => '7720',
			'image' => '20180412100113_Clipboard53.jpg',
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		'Article' => array(
			'id' => '7938',
			'article_category_id' => '217',
			'title' => 'Khetan Group',
			'sub_title' => '',
			'summary' => 'The foundation of Khetan Group was laid by Kishun Ram Khetan (great-great grandfather of Rajendra Khetan) some 170 years ago during the Nepal-Tibet War of 1855-1856. He supplied rice and salt to the Nepali soldiers. After the war, Khetan continued his venture as a trading business.',
			'content' => '<p style="text-align:justify"><img alt="" src="/userfiles/images/Clipboard51%2815%29.jpg" style="float:right; height:472px; margin:5px; width:90px" />The foundation of Khetan Group was laid by Kishun Ram Khetan (great-great grandfather of Rajendra Khetan) some 170 years ago during the Nepal-Tibet War of 1855-1856. He supplied rice and salt to the Nepali soldiers. After the war, Khetan continued his venture as a trading business. Besides the local business, the Khetan family started importing fabrics from India in 1910. It was Kishun Ram&rsquo;s son Purna Mal Bihari Lal Khetan who established the Khetan Group. In 1937, the Khetans registered their firm and became one among the first 32 registered companies in Nepal.&nbsp; His son Mohan Gopal Khetan took the family run business into a new era by stepping into different industrial and business sectors. In 1970, Khetan Group started its first business diversification by exporting jute and lentils. The group in the mid-1970s commenced Bottlers Nepal Limited thereby beginning the bottling and supplying of Coca-Cola in Nepal. Gorkha Brewery is another milestone for the group which was established in 1989 as a joint venture with Danish multinational company Carlsberg Breweries.In 1990, the launch of Tuborg Beer by Gorkha Brewery marked the first international beer brand produced in Nepal. Production of Carlsberg started in 1995. The company since 2004 has been brewing and marketing the Filipino beer brand San Miguel Beer by acquiring Mount Everest Brewery. Khetan Group is also among the business houses that helped foster the BFI sector in Nepal in the 1990s and 2000s. The establishment of the Himalayan Bank Limited in 1993 is an example in this regard where the group partnered with other Nepali business houses and the Habib Bank of Pakistan to form a joint venture. Similarly, the group also stepped into the insurance market in 1994 with the establishment of the Everest Insurance Company. Another major banking venture for the group came in 2002 as Laxmi Bank Limited which was established as the 16th commercial bank in the country. In 2007, Khetan Group initiated Prime Life Insurance Company.&nbsp; Earlier, Khetan Group had also invested in the aviation sector. It established the Nepal Air Charter Service which is the first private sector airline in Nepal. In 1992, the group commenced Everest Air which was among the major domestic airliners in the early and mid 1990s. In 2000, the group further diversified its manufacturing portfolio by entering into snacksproduction by establishing the Himalayan Snax &amp; Noodles Company in a joint venture with Thai Presidents Foods.&nbsp;&nbsp;</p>

<p style="text-align:center"><img alt="" src="/userfiles/images/Clipboard52%2812%29.jpg" /></p>

<div style="background: rgb(230, 230, 250); padding: 10px;">
<p><span style="font-size:16px"><strong>Financials&nbsp;</strong></span></p>

<ul>
	<li>Net Worth: Rs 50 Billion</li>
</ul>

<p><span style="font-size:16px"><strong>Annual revenue from shareholder fund</strong></span></p>

<ul>
	<li>Rs 3 billion</li>
</ul>

<p><span style="font-size:16px"><strong>Key Revenue generator</strong></span></p>

<ul>
	<li>FMCG and financial sector</li>
</ul>

<p><span style="font-size:16px"><strong>Planned Investments</strong></span></p>

<ul>
	<li>Life Insurance, Non-life Insurance, Re-insurance</li>
	<li>Venture Capital/Private Equity/Hedge Fund</li>
	<li>Credit Rating, stock brokerage, stock exchange</li>
	<li>Mutual fund venture&nbsp;</li>
	<li>FinTech</li>
	<li>If the government allows investment in foreign lands, Khetan may look into expansion beyond the borders</li>
</ul>
</div>
',
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			'modified' => '2018-04-12',
			'keywords' => '',
			'description' => '',
			'sortorder' => '7719',
			'image' => '20180412095722_Clipboard50.jpg',
			'article_date' => '2018-04-01 00:00:00',
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	(int) 4 => array(
		'Article' => array(
			'id' => '7937',
			'article_category_id' => '1',
			'title' => 'Chinese University to Provide Scholarships to Students of Bharatpur Metropolis',
			'sub_title' => '',
			'summary' => 'April 11: Xiangya Nursing School under Central South University has signed an agreement with Bharatpur Metropolitan City to provide scholarships to deserving students of the metropolis.',
			'content' => '<p>April 11: Xiangya Nursing School under Central South University has signed an agreement with Bharatpur Metropolitan City to provide scholarships to deserving students of the metropolis.</p>

<p>Renu Dahal, mayor of Bharatpur and Prof Thanh Xuan, dean of the nursing school, signed the agreement amid a programme on April 10.</p>

<p>&ldquo;The agreement has been made with Bharatpur metropolis to provide full and partial scholarships to 20 and 50 deserving students respectively,&rdquo; reads a joint statement issued by the university and the metropolis. The scholarship will be provided to hard-working students and those from weak financial background.&nbsp; &nbsp;</p>

<p>Speaking at the programme, Dahal mentioned that the agreement will not only assist the educational sector but will help Chitwan prosper. Similarly, expressing his optimism, Prof Thanh committed to move forward other projects under One Belt One Road Project.</p>
',
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			'keywords' => '',
			'description' => '',
			'sortorder' => '7718',
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	(int) 5 => array(
		'Article' => array(
			'id' => '7936',
			'article_category_id' => '1',
			'title' => 'Mega Bank Introduces 'Sarbapriya' Saving Account',
			'sub_title' => '',
			'summary' => 'April 11: Mega Bank has introduced a new programme under its saving and fixed deposit account.',
			'content' => '<p>April 11: Mega Bank has introduced a new programme under its saving and fixed deposit account. Issuing a press statement on Tuesday, the bank said that it has started &quot;Sarbapriya&quot; saving account with 8 percent interest rate on the occasion of Nepali New Year.</p>

<p>&ldquo;The bank will provide free services like Visa debit card, credit card, online banking, SMS service, ABBS facility, cheque book and account statement under the newly introduced programme,&rdquo; a statement issued by the bank said, adding that the account holders can get discount up to Rs 500,000 in accidental insurance scheme and locker service.</p>

<p>The bank has introduced 60 days&#39; fixed deposit account with 10 percent interest rate and 1 year fixed deposit account in which the account holder can get interest rate of 11 percent. The programme will come into operation from April, 15. &nbsp;&nbsp;</p>
',
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			'created' => '2018-04-11',
			'modified' => '2018-04-11',
			'keywords' => '',
			'description' => '',
			'sortorder' => '7717',
			'image' => '20180411043329_Mega_Bank.jpg',
			'article_date' => '2018-04-11 00:00:00',
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	(int) 6 => array(
		'Article' => array(
			'id' => '7935',
			'article_category_id' => '1',
			'title' => 'New Year Schemes Galore Automobile Market ',
			'sub_title' => '',
			'summary' => 'April 11: Automobile dealers have introduced various schemes for the upcoming Nepali New Year for the buyers. ',
			'content' => '<p>April 11: Automobile dealers have introduced various schemes for the upcoming Nepali New Year for the buyers. The dealers have decided to facilitate the buyers with cash discounts and various facilities on the purchase.&nbsp;</p>

<p>Laxmi Intercontinental, the sales agent of Hyundai Motors, has introduced&#39; Hyundai New Year Delight&#39; scheme for the New Year.&nbsp; The company introduced the scheme from March 22 offering cash discount up to Rs 713,000. Similarly exchange offer along with finance facilities have also been introduced.</p>

<p>Buyers under the discount scheme are offered instant cash discount between Rs 165,900 to Rs 713,000 on purchases of Eon and Santa Fe cars. The company is also offering free servicing for 4 years and warranty of 3 years along with the discount. This scheme will last until the first month of the Nepali New Year (mid-March).</p>

<p>Likewise, Sipradi Trading, the authorized dealers of Tata Motors, has launched &quot;Sunaulo New Year&quot; scheme. The company said it intoduced the scheme with the aim of assisting the customers with extra comfort.</p>

<p>Under this scheme, Tata is offering 69.9 gm of gold in purchase of every passenger vehicle except for Nexon car. Besides, the costumers are also offered free insurance and accessories for a year on purchase of Tata vehicles. The company will be paying the vehicle and road tax for a year under this scheme.</p>

<p>Similarly, CG Motors, the authorized dealers of Suzuki Motors, is offering cash discount worth Rs 30,000-Rs 150,000 along with free insurance facility under its New Year scheme.</p>

<p>MAW, the authorized distributor of Skoda cars, have also introduced attractive New Year scheme since the last one month. Skoda is offered with only 35 percent of down payment and 65 percent finance facility with only 8.99 percent interest rate. The scheme is only offered for Rapid Skoda car.&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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			'sortorder' => '7716',
			'image' => '20180411042813__DSC7852.jpg',
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	(int) 7 => array(
		'Article' => array(
			'id' => '7934',
			'article_category_id' => '1',
			'title' => '“China Always Ready to Support Nepal”',
			'sub_title' => '',
			'summary' => 'April 11: The Chinese government on Wednesday officially handed over the 1 MW solar power system installed at Singha Durbar – the administrative hub of the nation.',
			'content' => '<p>April 11: The Chinese government&nbsp;on Wednesday&nbsp;officially handed over the 1 MW solar power system installed at Singha Durbar &ndash; the administrative hub of the nation. The power generated from the system will be connected to the national grid.</p>

<p>Prime Minister KP Sharma Oli and Chinese Ambassador to Nepal Yu Hong jointly inaugurated the solar system amid a function in Kathmandu on April 10. The solar power system is installed at more than 20 government authorities of Singah Durbar.</p>

<p>Addressing the event, PM Oli said that the development of solar power system is a must to provide energy in the rural parts of the country, where supplying electrical energy is very difficult.</p>

<p>&ldquo;We have enough resources. In Nepal, supplying electrical energy to the rural parts is very costly,&rdquo; Oli said. &ldquo;So, installing solar and wind power in the remote areas will also help for the overall development of the country and to create employment opportunities.&rdquo;</p>

<p>Likewise, Chinese Ambassador to Nepal Yu Hong said that the Chinese government will always support Nepal for its development through different projects. She further added that the Chinese government had installed a total of 35,000 sets of household solar power system with a total generation capacity of 750kW.</p>

<p>&nbsp;</p>
',
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			'sortorder' => '7715',
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	(int) 8 => array(
		'Article' => array(
			'id' => '7933',
			'article_category_id' => '1',
			'title' => 'ADB Projects 4.9 Percent Growth Rate of Nepal',
			'sub_title' => '',
			'summary' => 'April 11: Asian Development Bank has projected Nepal's economy to grow by 4.9 percent in the current fiscal year, down from the growth rate of 6.9 percent in FY 2017-18. ',
			'content' => '<p>April 11: Asian Development Bank has projected Nepal&#39;s economy to grow by 4.9 percent in the current fiscal year, down from the growth rate of 6.9 percent in FY 2017-18. A macroeconomic update unveiled by the ADB on Wednesday, April 11, attributed the slow pace of growth to the floods of August 2017.</p>

<p>This is a slight upward revision of the 4.7 percent growth forecast published in the September edition of the Macroeconomic Update 2017 reflecting somewhat better-than-expected harvest despite floods in mid-August, the report said.</p>

<p>Preliminary data from the Ministry of Agricultural, Land Management and Cooperatives show that paddy production this fiscal year will fall to 5.1 million tons, a decrease of 1.5 percent from a year earlier, ADB&#39;s Country Director for Nepal Mukhtor Khamudkhanov read the report during a function organised in the capital.</p>

<p>&quot;The production of other summer crops like maize and millet are expected to increase in FY2018 compared to the previous year. Even with increased capacity utilization of industries, industrial growth is set to be lower in FY2018 from the high rate in FY2017, largely due to low investment in the manufacturing sub-sector for years owing to political instability and structural bottlenecks,&quot; the report states.</p>

<p>The services sector will however remain buoyant given the expansion of wholesale and retail trade, financial intermediation and travel and tourism sub-sectors, according to the report.</p>

<p>On the demand side, substantive growth in government expenditures and a moderate uptick in investment will drive growth in FY2018, ADB informed.</p>

<p>&quot;The construction needs particularly for establishing provincial and local governments, the acceleration of post-earthquake reconstruction, and planned disbursement of relief grants to earthquake victims will induce growth. Government expenditures have increased significantly this fiscal year partly for local, provincial and parliamentary elections. Additionally, the government has apportioned fiscal transfer of Rs 232.2 billion (about 8.0 percent of GDP) to local and provincial governments under the federal structure of governance. Private investment has increased in sectors such as hydro and cement.&quot;</p>

<p>Meanwhile, ADB has envisaged 5.5 percent GDP growth for FY2019. According to ADB, this higher forecast hinges on the assumption of normal monsoon and acceleration of ongoing mega projects.</p>

<p>Notably, the Upper Tamakoshi Hydropower Project of 456 megawatt will likely be added to the national grid by FY2019, ending the country&rsquo;s reliance on power import at least during the rainy season.</p>

<p>Average annual inflation is expected to rise moderately to 5.5 percent in FY2018 from 4.5 percent in FY2017. This is below the inflation target of 7.0 percent set by Nepal Rastra Bank, the central bank.</p>

<p>Inflation as of mid-February 2018 moderated on the back of modest oil prices, ease in the supply of goods, and subdued inflation in India-the major trading partner to whose currency the Nepali rupee is pegged, according to the report.</p>

<p>&quot;It will nonetheless likely inch up in the remaining months of FY2018 as base effects erode and government expenditures increase with the fiscal transfers provided to meet spending needs of provincial and local governments and the planned disbursement of relief grants to earthquake victims,&quot; the report states.</p>

<p>The ADB report further states that the average annual inflation will likely edge up to 6.0% in FY2019, lower than the average inflation of 8.1% for FY2013-FY2017, assuming a normal harvest, a modest increase in oil prices and subdued inflation in India.</p>

<p>Meanwhile, revenue collection increased by about 21.0 percent year-on-year in the first seven months of FY2018 compared to a year earlier period. It increased primarily on higher import growth. As per the report, import growth has outpaced export growth leading to a widening trade deficit. Merchandise exports increased by 19.2 percent year-on-year to $ 523.7 million in the first seven months of FY2018, marginally lower than the 19.8 percent rate in the corresponding period a year earlier.</p>

<p>This edition of Macroeconomic Update&rsquo;s Issue Focus sheds light on the importance of agricultural commercialization in Nepal and the need for its effective implementation by addressing legal, institutional, financial and infrastructural barriers. With about one-third share of GDP, agriculture continues to provide livelihood to two-thirds of the country&rsquo;s population, but mostly at a subsistence level.</p>

<p>According to the report, Nepal today is largely a food deficient country evident in growing imports of agriculture and livestock products. Even the export performance of potentially competitive agro-products is discouraging. The inability to enhance agricultural productivity commensurate with growing population has fueled agricultural trade deficit. Productivity has stagnated owing to limits on the adoption of improved technology, poor market linkages, infrastructure bottlenecks, and quality issues.The report suggests that commercialized agriculture via contract and cooperative farming methods can be one of the major sources of revenue generation for the country if practiced on a wider scale.</p>

<p>&nbsp;</p>
',
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	(int) 9 => array(
		'Article' => array(
			'id' => '7932',
			'article_category_id' => '1',
			'title' => 'Macchapuchre, Civil banks to finance 70 percent for Paggio',
			'sub_title' => '',
			'summary' => 'April 11: Vivek Automobiles has signed an agreement with Machhapuchre Bank and Civil Bank for investing in Piaggio three-wheelers.',
			'content' => '<p>April 11: Vivek Automobiles has signed an agreement with Machhapuchre Bank and Civil Bank for investing in Piaggio three-wheelers. The banks have agreed to finance up to 70 percent for the purchase of the three-wheeler brand.&nbsp;&nbsp;</p>

<p>The agreement was signed by Vivek Dugar, CEO of Vivek Automobiles Pvt Ltd, Sujit Kumar Shakya, chief business officer of Civil Bank, and Sarju Thapa, chief business officer of Machhapuchre Bank. The three-wheelers can be used to carry passengers and also carry loads from one place to another. The transport vehicle can be operated with small investment.</p>

<p>According to Vivek Dugar, bringing the three-wheelers in Kathmandu will contribute in creating employment. Vivek Automobiles is the authorised distributor of Piaggio in Nepal.</p>
',
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			'description' => '',
			'sortorder' => '7713',
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	(int) 10 => array(
		'Article' => array(
			'id' => '7931',
			'article_category_id' => '1',
			'title' => 'Siddhartha Bank extends financial support to Nepal Eye Hospital',
			'sub_title' => '',
			'summary' => 'April 11: Siddhartha Bank has extended financial support of Rs 110,000 to Nepal Eye Hospital, Tripureshwor to carry out cataract surgery of 44 marginalized cataract patients as part of the corporate social responsibility of the bank.',
			'content' => '<p>April 11: Siddhartha Bank has extended financial support of Rs 110,000 to Nepal Eye Hospital, Tripureshwor to carry out cataract surgery of 44 marginalized cataract patients as part of the corporate social responsibility of the bank.</p>

<p>Deputy General Manager of the bank, Rameshwor Prasad Bashyal, handed over the cheque of Rs 110,000 to Biswa Kanta Mainali, chairman of Nepal Eye Hospital amidst a function organised on the occasion of 44<sup>th</sup> anniversary of Nepal Eye Hospital.</p>

<p>DGM Bashyal expressed his immense gratification on behalf of Siddhartha Bank for having had an opportunity to serve the society and assured that the bank will continue to address the needs of the community and work for the betterment of the Nepali society in the future as well.</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'image' => '20180411023606_IMG_1279.jpg',
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	(int) 11 => array(
		'Article' => array(
			'id' => '7930',
			'article_category_id' => '1',
			'title' => 'NIC Asia Bank signs loan agreement with IFC',
			'sub_title' => '',
			'summary' => 'April 11: NIC Asia Bank Ltd and International Finance Corporation (IFC), a member of World Bank Group, have signed a loan agreement.',
			'content' => '<p>April 11: NIC Asia Bank Ltd and International Finance Corporation (IFC), a member of World Bank Group, have signed a loan agreement.</p>

<p>Issuing a press statement, NIC Asia Bank said that its Acting CEO Roshan K Neupane and Mohammed Rehan Rashid, resident representative of IFC, signed the agreement on behalf of their respective organisations. The loan from IFC is subject to approval from Nepal Rastra Bank.</p>

<p>According to the statement, IFC assists developing countries to achieve sustainable growth by financing investment, providing advisory services to businesses and governments, and mobilizing capital in the international financial markets.</p>

<p>&quot;With the anticipation of continuing stress on domestic liquidity and continued pressure on Balance of Payments (BOP), the liquidity outlook does not appear to be on optimistic side thus leading to inadequate deposits supply to support the credit growth required to secure targeted economic growth of the country. Therefore, the bank has approached international banks and financial institutions to secure long-term borrowings to facilitate credit growth in priority sectors,&quot; the statement further reads.</p>

<p>The bank said it believes this kind of initiation with IFC would open opportunities for domestic banks to borrow from international banks setting up a historic milestone in the Nepali banking arena.</p>

<p>The loan obtained from IFC shall be mobilized in extending credit to the productive sectors designated by the central bank.</p>

<p>NIC Asia Bank is currently operating with its network of 192 branches, 195 ATM&rsquo;s, four extension counters and four branchless banking locations across the country.</p>
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			'id' => '7929',
			'article_category_id' => '1',
			'title' => 'TVS Exchange Jatra Held',
			'sub_title' => '',
			'summary' => 'April 11: After the success of exchange camps in the past, TVS recently held TVS Exchange Jatra focusing on customers' needs.',
			'content' => '<p>April 11: After the success of exchange camps in the past, TVS recently held TVS Exchange Jatra focusing on customers&#39; needs. The Exchange Jatra which took place at Sallaghari Ground in Bhaktapur, saw notable footfall and customer participation.</p>

<p>The jatra was held April 6 to 10 and provided many customer-centric offers, the company said in a statement. According to the marketing head of Jagdamba Motors Pvt Ltd, any motorcycle or scooter of any condition was exchanged with a new TVS motorcycle or scooter at a minimum valuation of Rs 25,000.&nbsp;</p>

<p>Along with the best valuation of bikes/scooters, the New Year&rsquo;s gift of Rs 8001 instant cash back was also provided. The Exchange Jatra also offered free gift hampers in every test ride, a free TVS helmet worth Rs 2500, one smart phone every day for one person through lucky draw, quizzes and other attractions.</p>

<p>The company claimed that the Jatra, which was organized to make the customers&#39; two-wheeler purchase and exchange process easier, was held successfully. According to the company, the Jatra will be held again at various pre-informed locations soon.</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'id' => '7928',
			'article_category_id' => '1',
			'title' => 'Agni Energy Opens Mahindra Electric Service Station',
			'sub_title' => '',
			'summary' => 'April 11: Agni Energy Pvt Ltd, a subsidiary of Agni Group and the authorised distributor of Mahindra electric vehicles (EVs) and generators, has opened its new service station for EVs at Kupondole.',
			'content' => '<p>April 11: Agni Energy Pvt Ltd, a subsidiary of Agni Group and the authorised distributor of Mahindra electric vehicles (EVs) and generators, has opened its new service station for EVs at Kupondole.</p>

<p>Kunda Dixit, the editor -in-chief and publisher of Nepali Times, inaugurated the station amid a function on Tuesday, April 10. Issuing a press release, the company said that the station has been established to provide the best after-sales service and international brand experience to its customers.</p>

<p>According to the company, the service center will act as pre-delivery inspection unit (PDI) for Mahindra e2o and Mahindra eSupro to ensure that the customers receive the car in the best condition without damages.</p>

<p>The station will not only provide servicing and spare parts for Mahindra&#39;s electric cars, Mahindra e2p and eSupro, but also provide spare parts and services for house Kevin invertors, Konstant battery and Mahindra Powerol Generator, reads the statement.</p>
',
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			'title' => 'NCC Bank and Reliance Life Insurance Ink Bancassurance Agreement',
			'sub_title' => '',
			'summary' => 'April 11: Nepal Credit and Commerce (NCC) Bank and Reliance Life Insurance have signed an agreement to commence bancassurance service to the customers.',
			'content' => '<p>April 11: Nepal Credit and Commerce (NCC) Bank and Reliance Life Insurance have signed an agreement to commence bancassurance service to the customers.</p>

<p>The bank&#39;s CEO Ranesh Raj Aryal and the insurance company&#39;s CEO Prabin Raman Parajuli signed an agreement amid a function on Tuesday, April 10. Following the agreement, the bank&#39;s customers can access any kind of insurance service provided by the insurance company.</p>
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View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
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View::_evaluate() - CORE/Cake/View/View.php, line 971
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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
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Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]
Code Context
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		'Article' => array(
			'id' => '7941',
			'article_category_id' => '217',
			'title' => 'KC Group',
			'sub_title' => '',
			'summary' => 'Surya Bahadur KC established KC Construction in 1973, taking inspiration from his father Kirti Bahadur KC who upon his return from India started a construction business and undertook construction contracts for roads in Syangja and Pokhara. ',
			'content' => '<p style="text-align:justify"><img alt="" src="/userfiles/images/Clipboard62%287%29.jpg" style="float:right; height:279px; margin:5px; width:150px" />Surya Bahadur KC established KC Construction in 1973, taking inspiration from his father Kirti Bahadur KC who upon his return from India started a construction business and undertook construction contracts for roads in Syangja and Pokhara. The same construction company now specializes in constructing hydropower projects, dams and other commercial constructions. The company is currently undertaking the construction of infrastructures on the premises of Nepal Army Headquarters, Bhadrakali.&nbsp;</p>

<p style="text-align:justify">Eight years later, after the establishment of KC Construction, KC Group established Himshree Foods, the producer of &lsquo;Rara&rsquo; noodles, a popular instant white noodle brand in Nepal, whose popularity hasn&rsquo;t faded despite strong competition from other noodle brands including Chaudhary Group&rsquo;s Wai Wai. The food processing company also manufactures brown noodles and snacks.&nbsp;</p>

<p style="text-align:justify">Starting from 2005, KC Group has made extensive investment in the hydropower sector too. The 4.8 MW Gandaki hydropower project of KC Group came into operation in 2010. The Group has since been strongly focusing on hydropower projects. Other than Gandaki hydropower project, the group currently operates 1 MW Task Hydropower project and 4.5 MW Bhagwati Hydropower project. The undertaking of hydropower projects is a key milestone in the group&rsquo;s business journey. The group has investment over NRs 2 billion in the 13 MW Sikles hydro project that has already started trial production. In addition, the construction work of Upper Madi whose PPA has already been finalised is scheduled to start soon. The group has projects such as Bijaypur-2, Jhyamulunga and Upper Seti hydro project&nbsp; in the pipeline.&nbsp;</p>

<p style="text-align:justify">In 1998, KC Group founded Machhapuchchhre Bank, the first commercial bank of Nepal based in the western region of the country. Almost two decades later, the group entered the insurance business in 2017 with Sun Nepal Life Insurance. The group operates a housing project and a golf course in Pokhara and has a strong presence in the education sector too.</p>

<p style="text-align:center"><img alt="" src="/userfiles/images/Clipboard63%286%29.jpg" style="height:1511px; width:800px" /></p>

<div style="background: rgb(230, 230, 250); padding: 10px;">
<p><span style="font-size:16px"><strong>Employment&nbsp;&nbsp;</strong></span></p>

<ul>
	<li>900 people</li>
</ul>

<p><span style="font-size:16px"><strong>Financials&nbsp;</strong></span><br />
<strong>Annual Turnover</strong></p>

<ul>
	<li>Rs 500 million from hydropower projects</li>
	<li>Rs 2 billion from construction projects</li>
</ul>

<p><span style="font-size:16px"><strong>Planned Investments&nbsp;</strong></span></p>

<ul>
	<li>Plans to reach 100 MW operating capacity by 2020 with Karuwa Hydro (36 MW), Upper Madi (7 MW), Upper Seti (20 MW), Bijaypur-2 (4.5 MW)&nbsp;</li>
	<li>Noodle Factory in Bardiya with an investment over Rs one billion</li>
</ul>
</div>
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			'id' => '7940',
			'article_category_id' => '217',
			'title' => 'Kedia Organization',
			'sub_title' => '',
			'summary' => 'Kedia Organization is among the oldest business houses in Nepal. Ram Kumar Kedia and his sons Mahabir Prasad Kedia and Brij Lal Kedia laid the foundation of the business house in 1909 when they ventured into business as cloth merchants. ',
			'content' => '<p style="text-align:justify"><img alt="" src="/userfiles/images/Clipboard57%288%29.jpg" style="float:right; height:327px; margin:5px; width:100px" />Kedia Organization is among the oldest business houses in Nepal. Ram Kumar Kedia and his sons Mahabir Prasad Kedia and Brij Lal Kedia laid the foundation of the business house in 1909 when they ventured into business as cloth merchants. Together, they established fabric stores in Birgunj and Kathmandu to sell clothes imported from India. Brij Lal Kedia took the initiative of expanding the group&rsquo;s business interest by trading in food grains and later established the Bhagwati Rice Mill which was a modern rice mill at the time. Brij Lal also established other food grain factories including lentils processing plants. He also stepped into construction by forging partnerships with local municipal authorities.&nbsp;</p>

<p style="text-align:justify">The third generation Kedias took the family business further. Shankar Lal Kedia expanded the group business by setting up plants to manufacture corrugated steel, steelf urniture, and stainless steel and copper utensils, textile, umbrella, socks, wheat flour, among others. The group also focused on importing a number of foreign products. According to Manoj Kedia, Kedia Organization used to export lentils to Sri Lanka, Bangladesh and a few European countries and rice to Tibet in its early days.&nbsp;</p>

<p style="text-align:justify">The group has still maintained a strong presence in trading with around a dozen firms engaged in importing a wide range of products including fabrics, paper, metals and minerals, construction supplies, fertilisers and chemicals, medicines, consumer electronics and electrical items and cosmetics. The group also represents international brands such as Haier, Hisense, Toshiba, Evernal and Mitsuma in Nepal.&nbsp;</p>

<p style="text-align:justify">In 1993, Kedia Organization established the Sundar Candles in Birgunj. In 1994, Manoj Kedia started the Sitaram Gokul Milks. The group is also engaged in the automobile and petroleum trading business. It introduced the US petroleum and lubricants brand Caltex in Nepal which is still operational in Birgunj as Kedia Auto. With its interests in the BFI sector, Kedia Organization has played a leading role in promoting Siddhartha Bank and Siddhartha Insurance which were established in 2002 and 2006 respectively. In 2017, Kedia Organization restructured its family business after realising that its presence in diverse sectors was becoming difficult to manage under the traditional family-based management system which was affecting the growth of its business interests.&nbsp;&nbsp;</p>

<p style="text-align:center"><img alt="" src="/userfiles/images/Clipboard58%289%29.jpg" style="height:1723px; width:800px" /></p>

<p style="text-align:center"><img alt="" src="/userfiles/images/Clipboard59%285%29.jpg" style="height:335px; width:800px" /></p>

<div style="background: rgb(230, 230, 250); padding: 10px;">
<p><span style="font-size:16px"><strong>Key Business</strong></span></p>

<ul>
	<li>Sugar Industry</li>
	<li>Cement Industry</li>
	<li>DAV Kedia</li>
	<li>Yeti Fabrics</li>
	<li>Sitaram Gokul Milks</li>
	<li>Siddhartha bank and insurance</li>
</ul>

<p><span style="font-size:16px"><strong>Joint Ventures</strong></span></p>

<ul>
	<li>Brij Cement is a joint venture between Kedia and Indian company, Shanta Cement Pvt Ltd.&nbsp;</li>
	<li>Arghakhanchi Cement is a joint venture between Uma Cement International, India and Kedia Group, Siddhartha Group and Murarka Group from Nepal</li>
</ul>

<p><span style="font-size:16px"><strong>Planned Investments</strong></span></p>

<ul>
	<li>Hydropower projects</li>
	<li>Oil and gas exploration and thermal power plant,&nbsp;</li>
	<li>General and life insurance company</li>
	<li>Housing &amp; Real Estate Development (Greenwood Villa)</li>
	<li>Manufacturing industry in the area of steel, plastic, sugar and medicines&nbsp;</li>
	<li>Spices processing and agro-forestry</li>
</ul>
</div>
',
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			'sortorder' => '7721',
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			'id' => '7939',
			'article_category_id' => '217',
			'title' => 'Keyal Group',
			'sub_title' => '',
			'summary' => 'Keyal Group’s history can be traced back to more than a century when Gauri Shanker Keyal started as a clothes merchant. In 1951, Gulab Raj Keyal, son of Gauri Shanker Keyal opened a saw and a rice mill in Birgunj. It was a stepping stone in the formation of the Birgunj-based industrial and trading house. ',
			'content' => '<p style="text-align:justify"><img alt="" src="/userfiles/images/Clipboard56%286%29.jpg" style="float:right; height:286px; margin:5px; width:90px" />Keyal Group&rsquo;s history can be traced back to more than a century when Gauri Shanker Keyal started as a clothes merchant. In 1951, Gulab Raj Keyal, son of Gauri Shanker Keyal opened a saw and a rice mill in Birgunj. It was a stepping stone in the formation of the Birgunj-based industrial and trading house. However, the Keyal family kept a low profile for most of the next 35 years.&nbsp; Keyal Group&rsquo;s defining moment arrived in 1986 when Satya Narayan Keyal, son of Gulab Raj Keyal, started a hardware and paints store in Birgunj, moving away from his family business of fabrics and food grains. He then became a construction materials supplier, particularly of steel and iron products, to the local manufacturing industry. In 1993, the opening of a hardware store in Kathmandu proved to be a milestone in the group&rsquo;s history. The hardware store chain now has 11 outlets across the country of which seven are located in Kathmandu.&nbsp;</p>

<p style="text-align:justify">The group started the Narayani Rolling Mills in 1994 and commenced production of steel products. In 1999, the group established Shree Krishna Steels that manufactured steel pipes and shuttering profiles. In 2002, the group entered the cement business by setting up Star Cement Industry. In 2016, the group established Gorkha Feed Industries to produce feed for poultry, fish and cattle.&nbsp;</p>

<p style="text-align:justify">In 2017, the group established Gorkha Wire Industries and AAC Blocks Industries. In recent years, the group has expanded its portfolio further into a broad range of other trading sectors such as food grains, pharmaceuticals, surgical products, consumer electronics and a variety of hardware accessories and tools.</p>

<p style="text-align:center"><img alt="" src="/userfiles/images/Clipboard54%287%29.jpg" /></p>

<div style="background: rgb(230, 230, 250); padding: 10px;">
<p><span style="font-size:16px"><strong>Employment&nbsp;</strong></span></p>

<ul>
	<li>1,000 people</li>
</ul>

<p><span style="font-size:16px"><strong>Key Revenue Generator</strong></span></p>

<ul>
	<li>Steel and cement&nbsp;</li>
	<li>Trading of construction materials and hardware</li>
</ul>
</div>
',
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			'sortorder' => '7720',
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		'Article' => array(
			'id' => '7938',
			'article_category_id' => '217',
			'title' => 'Khetan Group',
			'sub_title' => '',
			'summary' => 'The foundation of Khetan Group was laid by Kishun Ram Khetan (great-great grandfather of Rajendra Khetan) some 170 years ago during the Nepal-Tibet War of 1855-1856. He supplied rice and salt to the Nepali soldiers. After the war, Khetan continued his venture as a trading business.',
			'content' => '<p style="text-align:justify"><img alt="" src="/userfiles/images/Clipboard51%2815%29.jpg" style="float:right; height:472px; margin:5px; width:90px" />The foundation of Khetan Group was laid by Kishun Ram Khetan (great-great grandfather of Rajendra Khetan) some 170 years ago during the Nepal-Tibet War of 1855-1856. He supplied rice and salt to the Nepali soldiers. After the war, Khetan continued his venture as a trading business. Besides the local business, the Khetan family started importing fabrics from India in 1910. It was Kishun Ram&rsquo;s son Purna Mal Bihari Lal Khetan who established the Khetan Group. In 1937, the Khetans registered their firm and became one among the first 32 registered companies in Nepal.&nbsp; His son Mohan Gopal Khetan took the family run business into a new era by stepping into different industrial and business sectors. In 1970, Khetan Group started its first business diversification by exporting jute and lentils. The group in the mid-1970s commenced Bottlers Nepal Limited thereby beginning the bottling and supplying of Coca-Cola in Nepal. Gorkha Brewery is another milestone for the group which was established in 1989 as a joint venture with Danish multinational company Carlsberg Breweries.In 1990, the launch of Tuborg Beer by Gorkha Brewery marked the first international beer brand produced in Nepal. Production of Carlsberg started in 1995. The company since 2004 has been brewing and marketing the Filipino beer brand San Miguel Beer by acquiring Mount Everest Brewery. Khetan Group is also among the business houses that helped foster the BFI sector in Nepal in the 1990s and 2000s. The establishment of the Himalayan Bank Limited in 1993 is an example in this regard where the group partnered with other Nepali business houses and the Habib Bank of Pakistan to form a joint venture. Similarly, the group also stepped into the insurance market in 1994 with the establishment of the Everest Insurance Company. Another major banking venture for the group came in 2002 as Laxmi Bank Limited which was established as the 16th commercial bank in the country. In 2007, Khetan Group initiated Prime Life Insurance Company.&nbsp; Earlier, Khetan Group had also invested in the aviation sector. It established the Nepal Air Charter Service which is the first private sector airline in Nepal. In 1992, the group commenced Everest Air which was among the major domestic airliners in the early and mid 1990s. In 2000, the group further diversified its manufacturing portfolio by entering into snacksproduction by establishing the Himalayan Snax &amp; Noodles Company in a joint venture with Thai Presidents Foods.&nbsp;&nbsp;</p>

<p style="text-align:center"><img alt="" src="/userfiles/images/Clipboard52%2812%29.jpg" /></p>

<div style="background: rgb(230, 230, 250); padding: 10px;">
<p><span style="font-size:16px"><strong>Financials&nbsp;</strong></span></p>

<ul>
	<li>Net Worth: Rs 50 Billion</li>
</ul>

<p><span style="font-size:16px"><strong>Annual revenue from shareholder fund</strong></span></p>

<ul>
	<li>Rs 3 billion</li>
</ul>

<p><span style="font-size:16px"><strong>Key Revenue generator</strong></span></p>

<ul>
	<li>FMCG and financial sector</li>
</ul>

<p><span style="font-size:16px"><strong>Planned Investments</strong></span></p>

<ul>
	<li>Life Insurance, Non-life Insurance, Re-insurance</li>
	<li>Venture Capital/Private Equity/Hedge Fund</li>
	<li>Credit Rating, stock brokerage, stock exchange</li>
	<li>Mutual fund venture&nbsp;</li>
	<li>FinTech</li>
	<li>If the government allows investment in foreign lands, Khetan may look into expansion beyond the borders</li>
</ul>
</div>
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			'article_category_id' => '1',
			'title' => 'Chinese University to Provide Scholarships to Students of Bharatpur Metropolis',
			'sub_title' => '',
			'summary' => 'April 11: Xiangya Nursing School under Central South University has signed an agreement with Bharatpur Metropolitan City to provide scholarships to deserving students of the metropolis.',
			'content' => '<p>April 11: Xiangya Nursing School under Central South University has signed an agreement with Bharatpur Metropolitan City to provide scholarships to deserving students of the metropolis.</p>

<p>Renu Dahal, mayor of Bharatpur and Prof Thanh Xuan, dean of the nursing school, signed the agreement amid a programme on April 10.</p>

<p>&ldquo;The agreement has been made with Bharatpur metropolis to provide full and partial scholarships to 20 and 50 deserving students respectively,&rdquo; reads a joint statement issued by the university and the metropolis. The scholarship will be provided to hard-working students and those from weak financial background.&nbsp; &nbsp;</p>

<p>Speaking at the programme, Dahal mentioned that the agreement will not only assist the educational sector but will help Chitwan prosper. Similarly, expressing his optimism, Prof Thanh committed to move forward other projects under One Belt One Road Project.</p>
',
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	(int) 5 => array(
		'Article' => array(
			'id' => '7936',
			'article_category_id' => '1',
			'title' => 'Mega Bank Introduces 'Sarbapriya' Saving Account',
			'sub_title' => '',
			'summary' => 'April 11: Mega Bank has introduced a new programme under its saving and fixed deposit account.',
			'content' => '<p>April 11: Mega Bank has introduced a new programme under its saving and fixed deposit account. Issuing a press statement on Tuesday, the bank said that it has started &quot;Sarbapriya&quot; saving account with 8 percent interest rate on the occasion of Nepali New Year.</p>

<p>&ldquo;The bank will provide free services like Visa debit card, credit card, online banking, SMS service, ABBS facility, cheque book and account statement under the newly introduced programme,&rdquo; a statement issued by the bank said, adding that the account holders can get discount up to Rs 500,000 in accidental insurance scheme and locker service.</p>

<p>The bank has introduced 60 days&#39; fixed deposit account with 10 percent interest rate and 1 year fixed deposit account in which the account holder can get interest rate of 11 percent. The programme will come into operation from April, 15. &nbsp;&nbsp;</p>
',
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			'description' => '',
			'sortorder' => '7717',
			'image' => '20180411043329_Mega_Bank.jpg',
			'article_date' => '2018-04-11 00:00:00',
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	(int) 6 => array(
		'Article' => array(
			'id' => '7935',
			'article_category_id' => '1',
			'title' => 'New Year Schemes Galore Automobile Market ',
			'sub_title' => '',
			'summary' => 'April 11: Automobile dealers have introduced various schemes for the upcoming Nepali New Year for the buyers. ',
			'content' => '<p>April 11: Automobile dealers have introduced various schemes for the upcoming Nepali New Year for the buyers. The dealers have decided to facilitate the buyers with cash discounts and various facilities on the purchase.&nbsp;</p>

<p>Laxmi Intercontinental, the sales agent of Hyundai Motors, has introduced&#39; Hyundai New Year Delight&#39; scheme for the New Year.&nbsp; The company introduced the scheme from March 22 offering cash discount up to Rs 713,000. Similarly exchange offer along with finance facilities have also been introduced.</p>

<p>Buyers under the discount scheme are offered instant cash discount between Rs 165,900 to Rs 713,000 on purchases of Eon and Santa Fe cars. The company is also offering free servicing for 4 years and warranty of 3 years along with the discount. This scheme will last until the first month of the Nepali New Year (mid-March).</p>

<p>Likewise, Sipradi Trading, the authorized dealers of Tata Motors, has launched &quot;Sunaulo New Year&quot; scheme. The company said it intoduced the scheme with the aim of assisting the customers with extra comfort.</p>

<p>Under this scheme, Tata is offering 69.9 gm of gold in purchase of every passenger vehicle except for Nexon car. Besides, the costumers are also offered free insurance and accessories for a year on purchase of Tata vehicles. The company will be paying the vehicle and road tax for a year under this scheme.</p>

<p>Similarly, CG Motors, the authorized dealers of Suzuki Motors, is offering cash discount worth Rs 30,000-Rs 150,000 along with free insurance facility under its New Year scheme.</p>

<p>MAW, the authorized distributor of Skoda cars, have also introduced attractive New Year scheme since the last one month. Skoda is offered with only 35 percent of down payment and 65 percent finance facility with only 8.99 percent interest rate. The scheme is only offered for Rapid Skoda car.&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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			'sortorder' => '7716',
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	(int) 7 => array(
		'Article' => array(
			'id' => '7934',
			'article_category_id' => '1',
			'title' => '“China Always Ready to Support Nepal”',
			'sub_title' => '',
			'summary' => 'April 11: The Chinese government on Wednesday officially handed over the 1 MW solar power system installed at Singha Durbar – the administrative hub of the nation.',
			'content' => '<p>April 11: The Chinese government&nbsp;on Wednesday&nbsp;officially handed over the 1 MW solar power system installed at Singha Durbar &ndash; the administrative hub of the nation. The power generated from the system will be connected to the national grid.</p>

<p>Prime Minister KP Sharma Oli and Chinese Ambassador to Nepal Yu Hong jointly inaugurated the solar system amid a function in Kathmandu on April 10. The solar power system is installed at more than 20 government authorities of Singah Durbar.</p>

<p>Addressing the event, PM Oli said that the development of solar power system is a must to provide energy in the rural parts of the country, where supplying electrical energy is very difficult.</p>

<p>&ldquo;We have enough resources. In Nepal, supplying electrical energy to the rural parts is very costly,&rdquo; Oli said. &ldquo;So, installing solar and wind power in the remote areas will also help for the overall development of the country and to create employment opportunities.&rdquo;</p>

<p>Likewise, Chinese Ambassador to Nepal Yu Hong said that the Chinese government will always support Nepal for its development through different projects. She further added that the Chinese government had installed a total of 35,000 sets of household solar power system with a total generation capacity of 750kW.</p>

<p>&nbsp;</p>
',
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			'sortorder' => '7715',
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	(int) 8 => array(
		'Article' => array(
			'id' => '7933',
			'article_category_id' => '1',
			'title' => 'ADB Projects 4.9 Percent Growth Rate of Nepal',
			'sub_title' => '',
			'summary' => 'April 11: Asian Development Bank has projected Nepal's economy to grow by 4.9 percent in the current fiscal year, down from the growth rate of 6.9 percent in FY 2017-18. ',
			'content' => '<p>April 11: Asian Development Bank has projected Nepal&#39;s economy to grow by 4.9 percent in the current fiscal year, down from the growth rate of 6.9 percent in FY 2017-18. A macroeconomic update unveiled by the ADB on Wednesday, April 11, attributed the slow pace of growth to the floods of August 2017.</p>

<p>This is a slight upward revision of the 4.7 percent growth forecast published in the September edition of the Macroeconomic Update 2017 reflecting somewhat better-than-expected harvest despite floods in mid-August, the report said.</p>

<p>Preliminary data from the Ministry of Agricultural, Land Management and Cooperatives show that paddy production this fiscal year will fall to 5.1 million tons, a decrease of 1.5 percent from a year earlier, ADB&#39;s Country Director for Nepal Mukhtor Khamudkhanov read the report during a function organised in the capital.</p>

<p>&quot;The production of other summer crops like maize and millet are expected to increase in FY2018 compared to the previous year. Even with increased capacity utilization of industries, industrial growth is set to be lower in FY2018 from the high rate in FY2017, largely due to low investment in the manufacturing sub-sector for years owing to political instability and structural bottlenecks,&quot; the report states.</p>

<p>The services sector will however remain buoyant given the expansion of wholesale and retail trade, financial intermediation and travel and tourism sub-sectors, according to the report.</p>

<p>On the demand side, substantive growth in government expenditures and a moderate uptick in investment will drive growth in FY2018, ADB informed.</p>

<p>&quot;The construction needs particularly for establishing provincial and local governments, the acceleration of post-earthquake reconstruction, and planned disbursement of relief grants to earthquake victims will induce growth. Government expenditures have increased significantly this fiscal year partly for local, provincial and parliamentary elections. Additionally, the government has apportioned fiscal transfer of Rs 232.2 billion (about 8.0 percent of GDP) to local and provincial governments under the federal structure of governance. Private investment has increased in sectors such as hydro and cement.&quot;</p>

<p>Meanwhile, ADB has envisaged 5.5 percent GDP growth for FY2019. According to ADB, this higher forecast hinges on the assumption of normal monsoon and acceleration of ongoing mega projects.</p>

<p>Notably, the Upper Tamakoshi Hydropower Project of 456 megawatt will likely be added to the national grid by FY2019, ending the country&rsquo;s reliance on power import at least during the rainy season.</p>

<p>Average annual inflation is expected to rise moderately to 5.5 percent in FY2018 from 4.5 percent in FY2017. This is below the inflation target of 7.0 percent set by Nepal Rastra Bank, the central bank.</p>

<p>Inflation as of mid-February 2018 moderated on the back of modest oil prices, ease in the supply of goods, and subdued inflation in India-the major trading partner to whose currency the Nepali rupee is pegged, according to the report.</p>

<p>&quot;It will nonetheless likely inch up in the remaining months of FY2018 as base effects erode and government expenditures increase with the fiscal transfers provided to meet spending needs of provincial and local governments and the planned disbursement of relief grants to earthquake victims,&quot; the report states.</p>

<p>The ADB report further states that the average annual inflation will likely edge up to 6.0% in FY2019, lower than the average inflation of 8.1% for FY2013-FY2017, assuming a normal harvest, a modest increase in oil prices and subdued inflation in India.</p>

<p>Meanwhile, revenue collection increased by about 21.0 percent year-on-year in the first seven months of FY2018 compared to a year earlier period. It increased primarily on higher import growth. As per the report, import growth has outpaced export growth leading to a widening trade deficit. Merchandise exports increased by 19.2 percent year-on-year to $ 523.7 million in the first seven months of FY2018, marginally lower than the 19.8 percent rate in the corresponding period a year earlier.</p>

<p>This edition of Macroeconomic Update&rsquo;s Issue Focus sheds light on the importance of agricultural commercialization in Nepal and the need for its effective implementation by addressing legal, institutional, financial and infrastructural barriers. With about one-third share of GDP, agriculture continues to provide livelihood to two-thirds of the country&rsquo;s population, but mostly at a subsistence level.</p>

<p>According to the report, Nepal today is largely a food deficient country evident in growing imports of agriculture and livestock products. Even the export performance of potentially competitive agro-products is discouraging. The inability to enhance agricultural productivity commensurate with growing population has fueled agricultural trade deficit. Productivity has stagnated owing to limits on the adoption of improved technology, poor market linkages, infrastructure bottlenecks, and quality issues.The report suggests that commercialized agriculture via contract and cooperative farming methods can be one of the major sources of revenue generation for the country if practiced on a wider scale.</p>

<p>&nbsp;</p>
',
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			'sortorder' => '7714',
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	(int) 9 => array(
		'Article' => array(
			'id' => '7932',
			'article_category_id' => '1',
			'title' => 'Macchapuchre, Civil banks to finance 70 percent for Paggio',
			'sub_title' => '',
			'summary' => 'April 11: Vivek Automobiles has signed an agreement with Machhapuchre Bank and Civil Bank for investing in Piaggio three-wheelers.',
			'content' => '<p>April 11: Vivek Automobiles has signed an agreement with Machhapuchre Bank and Civil Bank for investing in Piaggio three-wheelers. The banks have agreed to finance up to 70 percent for the purchase of the three-wheeler brand.&nbsp;&nbsp;</p>

<p>The agreement was signed by Vivek Dugar, CEO of Vivek Automobiles Pvt Ltd, Sujit Kumar Shakya, chief business officer of Civil Bank, and Sarju Thapa, chief business officer of Machhapuchre Bank. The three-wheelers can be used to carry passengers and also carry loads from one place to another. The transport vehicle can be operated with small investment.</p>

<p>According to Vivek Dugar, bringing the three-wheelers in Kathmandu will contribute in creating employment. Vivek Automobiles is the authorised distributor of Piaggio in Nepal.</p>
',
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			'created' => '2018-04-11',
			'modified' => '2018-04-11',
			'keywords' => '',
			'description' => '',
			'sortorder' => '7713',
			'image' => null,
			'article_date' => '2018-04-11 00:00:00',
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	(int) 10 => array(
		'Article' => array(
			'id' => '7931',
			'article_category_id' => '1',
			'title' => 'Siddhartha Bank extends financial support to Nepal Eye Hospital',
			'sub_title' => '',
			'summary' => 'April 11: Siddhartha Bank has extended financial support of Rs 110,000 to Nepal Eye Hospital, Tripureshwor to carry out cataract surgery of 44 marginalized cataract patients as part of the corporate social responsibility of the bank.',
			'content' => '<p>April 11: Siddhartha Bank has extended financial support of Rs 110,000 to Nepal Eye Hospital, Tripureshwor to carry out cataract surgery of 44 marginalized cataract patients as part of the corporate social responsibility of the bank.</p>

<p>Deputy General Manager of the bank, Rameshwor Prasad Bashyal, handed over the cheque of Rs 110,000 to Biswa Kanta Mainali, chairman of Nepal Eye Hospital amidst a function organised on the occasion of 44<sup>th</sup> anniversary of Nepal Eye Hospital.</p>

<p>DGM Bashyal expressed his immense gratification on behalf of Siddhartha Bank for having had an opportunity to serve the society and assured that the bank will continue to address the needs of the community and work for the betterment of the Nepali society in the future as well.</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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			'sortorder' => '7712',
			'image' => '20180411023606_IMG_1279.jpg',
			'article_date' => '2018-04-11 00:00:00',
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	(int) 11 => array(
		'Article' => array(
			'id' => '7930',
			'article_category_id' => '1',
			'title' => 'NIC Asia Bank signs loan agreement with IFC',
			'sub_title' => '',
			'summary' => 'April 11: NIC Asia Bank Ltd and International Finance Corporation (IFC), a member of World Bank Group, have signed a loan agreement.',
			'content' => '<p>April 11: NIC Asia Bank Ltd and International Finance Corporation (IFC), a member of World Bank Group, have signed a loan agreement.</p>

<p>Issuing a press statement, NIC Asia Bank said that its Acting CEO Roshan K Neupane and Mohammed Rehan Rashid, resident representative of IFC, signed the agreement on behalf of their respective organisations. The loan from IFC is subject to approval from Nepal Rastra Bank.</p>

<p>According to the statement, IFC assists developing countries to achieve sustainable growth by financing investment, providing advisory services to businesses and governments, and mobilizing capital in the international financial markets.</p>

<p>&quot;With the anticipation of continuing stress on domestic liquidity and continued pressure on Balance of Payments (BOP), the liquidity outlook does not appear to be on optimistic side thus leading to inadequate deposits supply to support the credit growth required to secure targeted economic growth of the country. Therefore, the bank has approached international banks and financial institutions to secure long-term borrowings to facilitate credit growth in priority sectors,&quot; the statement further reads.</p>

<p>The bank said it believes this kind of initiation with IFC would open opportunities for domestic banks to borrow from international banks setting up a historic milestone in the Nepali banking arena.</p>

<p>The loan obtained from IFC shall be mobilized in extending credit to the productive sectors designated by the central bank.</p>

<p>NIC Asia Bank is currently operating with its network of 192 branches, 195 ATM&rsquo;s, four extension counters and four branchless banking locations across the country.</p>
',
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			'sortorder' => '7711',
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	(int) 12 => array(
		'Article' => array(
			'id' => '7929',
			'article_category_id' => '1',
			'title' => 'TVS Exchange Jatra Held',
			'sub_title' => '',
			'summary' => 'April 11: After the success of exchange camps in the past, TVS recently held TVS Exchange Jatra focusing on customers' needs.',
			'content' => '<p>April 11: After the success of exchange camps in the past, TVS recently held TVS Exchange Jatra focusing on customers&#39; needs. The Exchange Jatra which took place at Sallaghari Ground in Bhaktapur, saw notable footfall and customer participation.</p>

<p>The jatra was held April 6 to 10 and provided many customer-centric offers, the company said in a statement. According to the marketing head of Jagdamba Motors Pvt Ltd, any motorcycle or scooter of any condition was exchanged with a new TVS motorcycle or scooter at a minimum valuation of Rs 25,000.&nbsp;</p>

<p>Along with the best valuation of bikes/scooters, the New Year&rsquo;s gift of Rs 8001 instant cash back was also provided. The Exchange Jatra also offered free gift hampers in every test ride, a free TVS helmet worth Rs 2500, one smart phone every day for one person through lucky draw, quizzes and other attractions.</p>

<p>The company claimed that the Jatra, which was organized to make the customers&#39; two-wheeler purchase and exchange process easier, was held successfully. According to the company, the Jatra will be held again at various pre-informed locations soon.</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'sortorder' => '7710',
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		'Article' => array(
			'id' => '7928',
			'article_category_id' => '1',
			'title' => 'Agni Energy Opens Mahindra Electric Service Station',
			'sub_title' => '',
			'summary' => 'April 11: Agni Energy Pvt Ltd, a subsidiary of Agni Group and the authorised distributor of Mahindra electric vehicles (EVs) and generators, has opened its new service station for EVs at Kupondole.',
			'content' => '<p>April 11: Agni Energy Pvt Ltd, a subsidiary of Agni Group and the authorised distributor of Mahindra electric vehicles (EVs) and generators, has opened its new service station for EVs at Kupondole.</p>

<p>Kunda Dixit, the editor -in-chief and publisher of Nepali Times, inaugurated the station amid a function on Tuesday, April 10. Issuing a press release, the company said that the station has been established to provide the best after-sales service and international brand experience to its customers.</p>

<p>According to the company, the service center will act as pre-delivery inspection unit (PDI) for Mahindra e2o and Mahindra eSupro to ensure that the customers receive the car in the best condition without damages.</p>

<p>The station will not only provide servicing and spare parts for Mahindra&#39;s electric cars, Mahindra e2p and eSupro, but also provide spare parts and services for house Kevin invertors, Konstant battery and Mahindra Powerol Generator, reads the statement.</p>
',
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			'article_category_id' => '1',
			'title' => 'NCC Bank and Reliance Life Insurance Ink Bancassurance Agreement',
			'sub_title' => '',
			'summary' => 'April 11: Nepal Credit and Commerce (NCC) Bank and Reliance Life Insurance have signed an agreement to commence bancassurance service to the customers.',
			'content' => '<p>April 11: Nepal Credit and Commerce (NCC) Bank and Reliance Life Insurance have signed an agreement to commence bancassurance service to the customers.</p>

<p>The bank&#39;s CEO Ranesh Raj Aryal and the insurance company&#39;s CEO Prabin Raman Parajuli signed an agreement amid a function on Tuesday, April 10. Following the agreement, the bank&#39;s customers can access any kind of insurance service provided by the insurance company.</p>
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$articles = array(
	(int) 0 => array(
		'Article' => array(
			'id' => '7941',
			'article_category_id' => '217',
			'title' => 'KC Group',
			'sub_title' => '',
			'summary' => 'Surya Bahadur KC established KC Construction in 1973, taking inspiration from his father Kirti Bahadur KC who upon his return from India started a construction business and undertook construction contracts for roads in Syangja and Pokhara. ',
			'content' => '<p style="text-align:justify"><img alt="" src="/userfiles/images/Clipboard62%287%29.jpg" style="float:right; height:279px; margin:5px; width:150px" />Surya Bahadur KC established KC Construction in 1973, taking inspiration from his father Kirti Bahadur KC who upon his return from India started a construction business and undertook construction contracts for roads in Syangja and Pokhara. The same construction company now specializes in constructing hydropower projects, dams and other commercial constructions. The company is currently undertaking the construction of infrastructures on the premises of Nepal Army Headquarters, Bhadrakali.&nbsp;</p>

<p style="text-align:justify">Eight years later, after the establishment of KC Construction, KC Group established Himshree Foods, the producer of &lsquo;Rara&rsquo; noodles, a popular instant white noodle brand in Nepal, whose popularity hasn&rsquo;t faded despite strong competition from other noodle brands including Chaudhary Group&rsquo;s Wai Wai. The food processing company also manufactures brown noodles and snacks.&nbsp;</p>

<p style="text-align:justify">Starting from 2005, KC Group has made extensive investment in the hydropower sector too. The 4.8 MW Gandaki hydropower project of KC Group came into operation in 2010. The Group has since been strongly focusing on hydropower projects. Other than Gandaki hydropower project, the group currently operates 1 MW Task Hydropower project and 4.5 MW Bhagwati Hydropower project. The undertaking of hydropower projects is a key milestone in the group&rsquo;s business journey. The group has investment over NRs 2 billion in the 13 MW Sikles hydro project that has already started trial production. In addition, the construction work of Upper Madi whose PPA has already been finalised is scheduled to start soon. The group has projects such as Bijaypur-2, Jhyamulunga and Upper Seti hydro project&nbsp; in the pipeline.&nbsp;</p>

<p style="text-align:justify">In 1998, KC Group founded Machhapuchchhre Bank, the first commercial bank of Nepal based in the western region of the country. Almost two decades later, the group entered the insurance business in 2017 with Sun Nepal Life Insurance. The group operates a housing project and a golf course in Pokhara and has a strong presence in the education sector too.</p>

<p style="text-align:center"><img alt="" src="/userfiles/images/Clipboard63%286%29.jpg" style="height:1511px; width:800px" /></p>

<div style="background: rgb(230, 230, 250); padding: 10px;">
<p><span style="font-size:16px"><strong>Employment&nbsp;&nbsp;</strong></span></p>

<ul>
	<li>900 people</li>
</ul>

<p><span style="font-size:16px"><strong>Financials&nbsp;</strong></span><br />
<strong>Annual Turnover</strong></p>

<ul>
	<li>Rs 500 million from hydropower projects</li>
	<li>Rs 2 billion from construction projects</li>
</ul>

<p><span style="font-size:16px"><strong>Planned Investments&nbsp;</strong></span></p>

<ul>
	<li>Plans to reach 100 MW operating capacity by 2020 with Karuwa Hydro (36 MW), Upper Madi (7 MW), Upper Seti (20 MW), Bijaypur-2 (4.5 MW)&nbsp;</li>
	<li>Noodle Factory in Bardiya with an investment over Rs one billion</li>
</ul>
</div>
',
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			'created' => '2018-04-12',
			'modified' => '2018-04-12',
			'keywords' => '',
			'description' => '',
			'sortorder' => '7722',
			'image' => '20180412101631_Clipboard61.jpg',
			'article_date' => '2018-04-12 00:00:00',
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			'id' => '7940',
			'article_category_id' => '217',
			'title' => 'Kedia Organization',
			'sub_title' => '',
			'summary' => 'Kedia Organization is among the oldest business houses in Nepal. Ram Kumar Kedia and his sons Mahabir Prasad Kedia and Brij Lal Kedia laid the foundation of the business house in 1909 when they ventured into business as cloth merchants. ',
			'content' => '<p style="text-align:justify"><img alt="" src="/userfiles/images/Clipboard57%288%29.jpg" style="float:right; height:327px; margin:5px; width:100px" />Kedia Organization is among the oldest business houses in Nepal. Ram Kumar Kedia and his sons Mahabir Prasad Kedia and Brij Lal Kedia laid the foundation of the business house in 1909 when they ventured into business as cloth merchants. Together, they established fabric stores in Birgunj and Kathmandu to sell clothes imported from India. Brij Lal Kedia took the initiative of expanding the group&rsquo;s business interest by trading in food grains and later established the Bhagwati Rice Mill which was a modern rice mill at the time. Brij Lal also established other food grain factories including lentils processing plants. He also stepped into construction by forging partnerships with local municipal authorities.&nbsp;</p>

<p style="text-align:justify">The third generation Kedias took the family business further. Shankar Lal Kedia expanded the group business by setting up plants to manufacture corrugated steel, steelf urniture, and stainless steel and copper utensils, textile, umbrella, socks, wheat flour, among others. The group also focused on importing a number of foreign products. According to Manoj Kedia, Kedia Organization used to export lentils to Sri Lanka, Bangladesh and a few European countries and rice to Tibet in its early days.&nbsp;</p>

<p style="text-align:justify">The group has still maintained a strong presence in trading with around a dozen firms engaged in importing a wide range of products including fabrics, paper, metals and minerals, construction supplies, fertilisers and chemicals, medicines, consumer electronics and electrical items and cosmetics. The group also represents international brands such as Haier, Hisense, Toshiba, Evernal and Mitsuma in Nepal.&nbsp;</p>

<p style="text-align:justify">In 1993, Kedia Organization established the Sundar Candles in Birgunj. In 1994, Manoj Kedia started the Sitaram Gokul Milks. The group is also engaged in the automobile and petroleum trading business. It introduced the US petroleum and lubricants brand Caltex in Nepal which is still operational in Birgunj as Kedia Auto. With its interests in the BFI sector, Kedia Organization has played a leading role in promoting Siddhartha Bank and Siddhartha Insurance which were established in 2002 and 2006 respectively. In 2017, Kedia Organization restructured its family business after realising that its presence in diverse sectors was becoming difficult to manage under the traditional family-based management system which was affecting the growth of its business interests.&nbsp;&nbsp;</p>

<p style="text-align:center"><img alt="" src="/userfiles/images/Clipboard58%289%29.jpg" style="height:1723px; width:800px" /></p>

<p style="text-align:center"><img alt="" src="/userfiles/images/Clipboard59%285%29.jpg" style="height:335px; width:800px" /></p>

<div style="background: rgb(230, 230, 250); padding: 10px;">
<p><span style="font-size:16px"><strong>Key Business</strong></span></p>

<ul>
	<li>Sugar Industry</li>
	<li>Cement Industry</li>
	<li>DAV Kedia</li>
	<li>Yeti Fabrics</li>
	<li>Sitaram Gokul Milks</li>
	<li>Siddhartha bank and insurance</li>
</ul>

<p><span style="font-size:16px"><strong>Joint Ventures</strong></span></p>

<ul>
	<li>Brij Cement is a joint venture between Kedia and Indian company, Shanta Cement Pvt Ltd.&nbsp;</li>
	<li>Arghakhanchi Cement is a joint venture between Uma Cement International, India and Kedia Group, Siddhartha Group and Murarka Group from Nepal</li>
</ul>

<p><span style="font-size:16px"><strong>Planned Investments</strong></span></p>

<ul>
	<li>Hydropower projects</li>
	<li>Oil and gas exploration and thermal power plant,&nbsp;</li>
	<li>General and life insurance company</li>
	<li>Housing &amp; Real Estate Development (Greenwood Villa)</li>
	<li>Manufacturing industry in the area of steel, plastic, sugar and medicines&nbsp;</li>
	<li>Spices processing and agro-forestry</li>
</ul>
</div>
',
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			'modified' => '2018-04-12',
			'keywords' => '',
			'description' => '',
			'sortorder' => '7721',
			'image' => '20180412100956_Clipboard60.jpg',
			'article_date' => '2018-04-12 00:00:00',
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		'Article' => array(
			'id' => '7939',
			'article_category_id' => '217',
			'title' => 'Keyal Group',
			'sub_title' => '',
			'summary' => 'Keyal Group’s history can be traced back to more than a century when Gauri Shanker Keyal started as a clothes merchant. In 1951, Gulab Raj Keyal, son of Gauri Shanker Keyal opened a saw and a rice mill in Birgunj. It was a stepping stone in the formation of the Birgunj-based industrial and trading house. ',
			'content' => '<p style="text-align:justify"><img alt="" src="/userfiles/images/Clipboard56%286%29.jpg" style="float:right; height:286px; margin:5px; width:90px" />Keyal Group&rsquo;s history can be traced back to more than a century when Gauri Shanker Keyal started as a clothes merchant. In 1951, Gulab Raj Keyal, son of Gauri Shanker Keyal opened a saw and a rice mill in Birgunj. It was a stepping stone in the formation of the Birgunj-based industrial and trading house. However, the Keyal family kept a low profile for most of the next 35 years.&nbsp; Keyal Group&rsquo;s defining moment arrived in 1986 when Satya Narayan Keyal, son of Gulab Raj Keyal, started a hardware and paints store in Birgunj, moving away from his family business of fabrics and food grains. He then became a construction materials supplier, particularly of steel and iron products, to the local manufacturing industry. In 1993, the opening of a hardware store in Kathmandu proved to be a milestone in the group&rsquo;s history. The hardware store chain now has 11 outlets across the country of which seven are located in Kathmandu.&nbsp;</p>

<p style="text-align:justify">The group started the Narayani Rolling Mills in 1994 and commenced production of steel products. In 1999, the group established Shree Krishna Steels that manufactured steel pipes and shuttering profiles. In 2002, the group entered the cement business by setting up Star Cement Industry. In 2016, the group established Gorkha Feed Industries to produce feed for poultry, fish and cattle.&nbsp;</p>

<p style="text-align:justify">In 2017, the group established Gorkha Wire Industries and AAC Blocks Industries. In recent years, the group has expanded its portfolio further into a broad range of other trading sectors such as food grains, pharmaceuticals, surgical products, consumer electronics and a variety of hardware accessories and tools.</p>

<p style="text-align:center"><img alt="" src="/userfiles/images/Clipboard54%287%29.jpg" /></p>

<div style="background: rgb(230, 230, 250); padding: 10px;">
<p><span style="font-size:16px"><strong>Employment&nbsp;</strong></span></p>

<ul>
	<li>1,000 people</li>
</ul>

<p><span style="font-size:16px"><strong>Key Revenue Generator</strong></span></p>

<ul>
	<li>Steel and cement&nbsp;</li>
	<li>Trading of construction materials and hardware</li>
</ul>
</div>
',
			'published' => true,
			'created' => '2018-04-12',
			'modified' => '2018-04-12',
			'keywords' => '',
			'description' => '',
			'sortorder' => '7720',
			'image' => '20180412100113_Clipboard53.jpg',
			'article_date' => '2018-04-12 00:00:00',
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		'Article' => array(
			'id' => '7938',
			'article_category_id' => '217',
			'title' => 'Khetan Group',
			'sub_title' => '',
			'summary' => 'The foundation of Khetan Group was laid by Kishun Ram Khetan (great-great grandfather of Rajendra Khetan) some 170 years ago during the Nepal-Tibet War of 1855-1856. He supplied rice and salt to the Nepali soldiers. After the war, Khetan continued his venture as a trading business.',
			'content' => '<p style="text-align:justify"><img alt="" src="/userfiles/images/Clipboard51%2815%29.jpg" style="float:right; height:472px; margin:5px; width:90px" />The foundation of Khetan Group was laid by Kishun Ram Khetan (great-great grandfather of Rajendra Khetan) some 170 years ago during the Nepal-Tibet War of 1855-1856. He supplied rice and salt to the Nepali soldiers. After the war, Khetan continued his venture as a trading business. Besides the local business, the Khetan family started importing fabrics from India in 1910. It was Kishun Ram&rsquo;s son Purna Mal Bihari Lal Khetan who established the Khetan Group. In 1937, the Khetans registered their firm and became one among the first 32 registered companies in Nepal.&nbsp; His son Mohan Gopal Khetan took the family run business into a new era by stepping into different industrial and business sectors. In 1970, Khetan Group started its first business diversification by exporting jute and lentils. The group in the mid-1970s commenced Bottlers Nepal Limited thereby beginning the bottling and supplying of Coca-Cola in Nepal. Gorkha Brewery is another milestone for the group which was established in 1989 as a joint venture with Danish multinational company Carlsberg Breweries.In 1990, the launch of Tuborg Beer by Gorkha Brewery marked the first international beer brand produced in Nepal. Production of Carlsberg started in 1995. The company since 2004 has been brewing and marketing the Filipino beer brand San Miguel Beer by acquiring Mount Everest Brewery. Khetan Group is also among the business houses that helped foster the BFI sector in Nepal in the 1990s and 2000s. The establishment of the Himalayan Bank Limited in 1993 is an example in this regard where the group partnered with other Nepali business houses and the Habib Bank of Pakistan to form a joint venture. Similarly, the group also stepped into the insurance market in 1994 with the establishment of the Everest Insurance Company. Another major banking venture for the group came in 2002 as Laxmi Bank Limited which was established as the 16th commercial bank in the country. In 2007, Khetan Group initiated Prime Life Insurance Company.&nbsp; Earlier, Khetan Group had also invested in the aviation sector. It established the Nepal Air Charter Service which is the first private sector airline in Nepal. In 1992, the group commenced Everest Air which was among the major domestic airliners in the early and mid 1990s. In 2000, the group further diversified its manufacturing portfolio by entering into snacksproduction by establishing the Himalayan Snax &amp; Noodles Company in a joint venture with Thai Presidents Foods.&nbsp;&nbsp;</p>

<p style="text-align:center"><img alt="" src="/userfiles/images/Clipboard52%2812%29.jpg" /></p>

<div style="background: rgb(230, 230, 250); padding: 10px;">
<p><span style="font-size:16px"><strong>Financials&nbsp;</strong></span></p>

<ul>
	<li>Net Worth: Rs 50 Billion</li>
</ul>

<p><span style="font-size:16px"><strong>Annual revenue from shareholder fund</strong></span></p>

<ul>
	<li>Rs 3 billion</li>
</ul>

<p><span style="font-size:16px"><strong>Key Revenue generator</strong></span></p>

<ul>
	<li>FMCG and financial sector</li>
</ul>

<p><span style="font-size:16px"><strong>Planned Investments</strong></span></p>

<ul>
	<li>Life Insurance, Non-life Insurance, Re-insurance</li>
	<li>Venture Capital/Private Equity/Hedge Fund</li>
	<li>Credit Rating, stock brokerage, stock exchange</li>
	<li>Mutual fund venture&nbsp;</li>
	<li>FinTech</li>
	<li>If the government allows investment in foreign lands, Khetan may look into expansion beyond the borders</li>
</ul>
</div>
',
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			'created' => '2018-04-12',
			'modified' => '2018-04-12',
			'keywords' => '',
			'description' => '',
			'sortorder' => '7719',
			'image' => '20180412095722_Clipboard50.jpg',
			'article_date' => '2018-04-01 00:00:00',
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	(int) 4 => array(
		'Article' => array(
			'id' => '7937',
			'article_category_id' => '1',
			'title' => 'Chinese University to Provide Scholarships to Students of Bharatpur Metropolis',
			'sub_title' => '',
			'summary' => 'April 11: Xiangya Nursing School under Central South University has signed an agreement with Bharatpur Metropolitan City to provide scholarships to deserving students of the metropolis.',
			'content' => '<p>April 11: Xiangya Nursing School under Central South University has signed an agreement with Bharatpur Metropolitan City to provide scholarships to deserving students of the metropolis.</p>

<p>Renu Dahal, mayor of Bharatpur and Prof Thanh Xuan, dean of the nursing school, signed the agreement amid a programme on April 10.</p>

<p>&ldquo;The agreement has been made with Bharatpur metropolis to provide full and partial scholarships to 20 and 50 deserving students respectively,&rdquo; reads a joint statement issued by the university and the metropolis. The scholarship will be provided to hard-working students and those from weak financial background.&nbsp; &nbsp;</p>

<p>Speaking at the programme, Dahal mentioned that the agreement will not only assist the educational sector but will help Chitwan prosper. Similarly, expressing his optimism, Prof Thanh committed to move forward other projects under One Belt One Road Project.</p>
',
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			'created' => '2018-04-11',
			'modified' => '2018-04-11',
			'keywords' => '',
			'description' => '',
			'sortorder' => '7718',
			'image' => null,
			'article_date' => '2018-04-11 00:00:00',
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			'main_news' => true,
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	(int) 5 => array(
		'Article' => array(
			'id' => '7936',
			'article_category_id' => '1',
			'title' => 'Mega Bank Introduces 'Sarbapriya' Saving Account',
			'sub_title' => '',
			'summary' => 'April 11: Mega Bank has introduced a new programme under its saving and fixed deposit account.',
			'content' => '<p>April 11: Mega Bank has introduced a new programme under its saving and fixed deposit account. Issuing a press statement on Tuesday, the bank said that it has started &quot;Sarbapriya&quot; saving account with 8 percent interest rate on the occasion of Nepali New Year.</p>

<p>&ldquo;The bank will provide free services like Visa debit card, credit card, online banking, SMS service, ABBS facility, cheque book and account statement under the newly introduced programme,&rdquo; a statement issued by the bank said, adding that the account holders can get discount up to Rs 500,000 in accidental insurance scheme and locker service.</p>

<p>The bank has introduced 60 days&#39; fixed deposit account with 10 percent interest rate and 1 year fixed deposit account in which the account holder can get interest rate of 11 percent. The programme will come into operation from April, 15. &nbsp;&nbsp;</p>
',
			'published' => true,
			'created' => '2018-04-11',
			'modified' => '2018-04-11',
			'keywords' => '',
			'description' => '',
			'sortorder' => '7717',
			'image' => '20180411043329_Mega_Bank.jpg',
			'article_date' => '2018-04-11 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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			'in_scroller' => false,
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	(int) 6 => array(
		'Article' => array(
			'id' => '7935',
			'article_category_id' => '1',
			'title' => 'New Year Schemes Galore Automobile Market ',
			'sub_title' => '',
			'summary' => 'April 11: Automobile dealers have introduced various schemes for the upcoming Nepali New Year for the buyers. ',
			'content' => '<p>April 11: Automobile dealers have introduced various schemes for the upcoming Nepali New Year for the buyers. The dealers have decided to facilitate the buyers with cash discounts and various facilities on the purchase.&nbsp;</p>

<p>Laxmi Intercontinental, the sales agent of Hyundai Motors, has introduced&#39; Hyundai New Year Delight&#39; scheme for the New Year.&nbsp; The company introduced the scheme from March 22 offering cash discount up to Rs 713,000. Similarly exchange offer along with finance facilities have also been introduced.</p>

<p>Buyers under the discount scheme are offered instant cash discount between Rs 165,900 to Rs 713,000 on purchases of Eon and Santa Fe cars. The company is also offering free servicing for 4 years and warranty of 3 years along with the discount. This scheme will last until the first month of the Nepali New Year (mid-March).</p>

<p>Likewise, Sipradi Trading, the authorized dealers of Tata Motors, has launched &quot;Sunaulo New Year&quot; scheme. The company said it intoduced the scheme with the aim of assisting the customers with extra comfort.</p>

<p>Under this scheme, Tata is offering 69.9 gm of gold in purchase of every passenger vehicle except for Nexon car. Besides, the costumers are also offered free insurance and accessories for a year on purchase of Tata vehicles. The company will be paying the vehicle and road tax for a year under this scheme.</p>

<p>Similarly, CG Motors, the authorized dealers of Suzuki Motors, is offering cash discount worth Rs 30,000-Rs 150,000 along with free insurance facility under its New Year scheme.</p>

<p>MAW, the authorized distributor of Skoda cars, have also introduced attractive New Year scheme since the last one month. Skoda is offered with only 35 percent of down payment and 65 percent finance facility with only 8.99 percent interest rate. The scheme is only offered for Rapid Skoda car.&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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			'created' => '2018-04-11',
			'modified' => '2018-04-12',
			'keywords' => '',
			'description' => '',
			'sortorder' => '7716',
			'image' => '20180411042813__DSC7852.jpg',
			'article_date' => '2018-04-11 00:00:00',
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	(int) 7 => array(
		'Article' => array(
			'id' => '7934',
			'article_category_id' => '1',
			'title' => '“China Always Ready to Support Nepal”',
			'sub_title' => '',
			'summary' => 'April 11: The Chinese government on Wednesday officially handed over the 1 MW solar power system installed at Singha Durbar – the administrative hub of the nation.',
			'content' => '<p>April 11: The Chinese government&nbsp;on Wednesday&nbsp;officially handed over the 1 MW solar power system installed at Singha Durbar &ndash; the administrative hub of the nation. The power generated from the system will be connected to the national grid.</p>

<p>Prime Minister KP Sharma Oli and Chinese Ambassador to Nepal Yu Hong jointly inaugurated the solar system amid a function in Kathmandu on April 10. The solar power system is installed at more than 20 government authorities of Singah Durbar.</p>

<p>Addressing the event, PM Oli said that the development of solar power system is a must to provide energy in the rural parts of the country, where supplying electrical energy is very difficult.</p>

<p>&ldquo;We have enough resources. In Nepal, supplying electrical energy to the rural parts is very costly,&rdquo; Oli said. &ldquo;So, installing solar and wind power in the remote areas will also help for the overall development of the country and to create employment opportunities.&rdquo;</p>

<p>Likewise, Chinese Ambassador to Nepal Yu Hong said that the Chinese government will always support Nepal for its development through different projects. She further added that the Chinese government had installed a total of 35,000 sets of household solar power system with a total generation capacity of 750kW.</p>

<p>&nbsp;</p>
',
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			'created' => '2018-04-11',
			'modified' => '2018-04-11',
			'keywords' => '',
			'description' => '',
			'sortorder' => '7715',
			'image' => null,
			'article_date' => '2018-04-11 00:00:00',
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	(int) 8 => array(
		'Article' => array(
			'id' => '7933',
			'article_category_id' => '1',
			'title' => 'ADB Projects 4.9 Percent Growth Rate of Nepal',
			'sub_title' => '',
			'summary' => 'April 11: Asian Development Bank has projected Nepal's economy to grow by 4.9 percent in the current fiscal year, down from the growth rate of 6.9 percent in FY 2017-18. ',
			'content' => '<p>April 11: Asian Development Bank has projected Nepal&#39;s economy to grow by 4.9 percent in the current fiscal year, down from the growth rate of 6.9 percent in FY 2017-18. A macroeconomic update unveiled by the ADB on Wednesday, April 11, attributed the slow pace of growth to the floods of August 2017.</p>

<p>This is a slight upward revision of the 4.7 percent growth forecast published in the September edition of the Macroeconomic Update 2017 reflecting somewhat better-than-expected harvest despite floods in mid-August, the report said.</p>

<p>Preliminary data from the Ministry of Agricultural, Land Management and Cooperatives show that paddy production this fiscal year will fall to 5.1 million tons, a decrease of 1.5 percent from a year earlier, ADB&#39;s Country Director for Nepal Mukhtor Khamudkhanov read the report during a function organised in the capital.</p>

<p>&quot;The production of other summer crops like maize and millet are expected to increase in FY2018 compared to the previous year. Even with increased capacity utilization of industries, industrial growth is set to be lower in FY2018 from the high rate in FY2017, largely due to low investment in the manufacturing sub-sector for years owing to political instability and structural bottlenecks,&quot; the report states.</p>

<p>The services sector will however remain buoyant given the expansion of wholesale and retail trade, financial intermediation and travel and tourism sub-sectors, according to the report.</p>

<p>On the demand side, substantive growth in government expenditures and a moderate uptick in investment will drive growth in FY2018, ADB informed.</p>

<p>&quot;The construction needs particularly for establishing provincial and local governments, the acceleration of post-earthquake reconstruction, and planned disbursement of relief grants to earthquake victims will induce growth. Government expenditures have increased significantly this fiscal year partly for local, provincial and parliamentary elections. Additionally, the government has apportioned fiscal transfer of Rs 232.2 billion (about 8.0 percent of GDP) to local and provincial governments under the federal structure of governance. Private investment has increased in sectors such as hydro and cement.&quot;</p>

<p>Meanwhile, ADB has envisaged 5.5 percent GDP growth for FY2019. According to ADB, this higher forecast hinges on the assumption of normal monsoon and acceleration of ongoing mega projects.</p>

<p>Notably, the Upper Tamakoshi Hydropower Project of 456 megawatt will likely be added to the national grid by FY2019, ending the country&rsquo;s reliance on power import at least during the rainy season.</p>

<p>Average annual inflation is expected to rise moderately to 5.5 percent in FY2018 from 4.5 percent in FY2017. This is below the inflation target of 7.0 percent set by Nepal Rastra Bank, the central bank.</p>

<p>Inflation as of mid-February 2018 moderated on the back of modest oil prices, ease in the supply of goods, and subdued inflation in India-the major trading partner to whose currency the Nepali rupee is pegged, according to the report.</p>

<p>&quot;It will nonetheless likely inch up in the remaining months of FY2018 as base effects erode and government expenditures increase with the fiscal transfers provided to meet spending needs of provincial and local governments and the planned disbursement of relief grants to earthquake victims,&quot; the report states.</p>

<p>The ADB report further states that the average annual inflation will likely edge up to 6.0% in FY2019, lower than the average inflation of 8.1% for FY2013-FY2017, assuming a normal harvest, a modest increase in oil prices and subdued inflation in India.</p>

<p>Meanwhile, revenue collection increased by about 21.0 percent year-on-year in the first seven months of FY2018 compared to a year earlier period. It increased primarily on higher import growth. As per the report, import growth has outpaced export growth leading to a widening trade deficit. Merchandise exports increased by 19.2 percent year-on-year to $ 523.7 million in the first seven months of FY2018, marginally lower than the 19.8 percent rate in the corresponding period a year earlier.</p>

<p>This edition of Macroeconomic Update&rsquo;s Issue Focus sheds light on the importance of agricultural commercialization in Nepal and the need for its effective implementation by addressing legal, institutional, financial and infrastructural barriers. With about one-third share of GDP, agriculture continues to provide livelihood to two-thirds of the country&rsquo;s population, but mostly at a subsistence level.</p>

<p>According to the report, Nepal today is largely a food deficient country evident in growing imports of agriculture and livestock products. Even the export performance of potentially competitive agro-products is discouraging. The inability to enhance agricultural productivity commensurate with growing population has fueled agricultural trade deficit. Productivity has stagnated owing to limits on the adoption of improved technology, poor market linkages, infrastructure bottlenecks, and quality issues.The report suggests that commercialized agriculture via contract and cooperative farming methods can be one of the major sources of revenue generation for the country if practiced on a wider scale.</p>

<p>&nbsp;</p>
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	(int) 9 => array(
		'Article' => array(
			'id' => '7932',
			'article_category_id' => '1',
			'title' => 'Macchapuchre, Civil banks to finance 70 percent for Paggio',
			'sub_title' => '',
			'summary' => 'April 11: Vivek Automobiles has signed an agreement with Machhapuchre Bank and Civil Bank for investing in Piaggio three-wheelers.',
			'content' => '<p>April 11: Vivek Automobiles has signed an agreement with Machhapuchre Bank and Civil Bank for investing in Piaggio three-wheelers. The banks have agreed to finance up to 70 percent for the purchase of the three-wheeler brand.&nbsp;&nbsp;</p>

<p>The agreement was signed by Vivek Dugar, CEO of Vivek Automobiles Pvt Ltd, Sujit Kumar Shakya, chief business officer of Civil Bank, and Sarju Thapa, chief business officer of Machhapuchre Bank. The three-wheelers can be used to carry passengers and also carry loads from one place to another. The transport vehicle can be operated with small investment.</p>

<p>According to Vivek Dugar, bringing the three-wheelers in Kathmandu will contribute in creating employment. Vivek Automobiles is the authorised distributor of Piaggio in Nepal.</p>
',
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			'created' => '2018-04-11',
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			'keywords' => '',
			'description' => '',
			'sortorder' => '7713',
			'image' => null,
			'article_date' => '2018-04-11 00:00:00',
			'homepage' => false,
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	(int) 10 => array(
		'Article' => array(
			'id' => '7931',
			'article_category_id' => '1',
			'title' => 'Siddhartha Bank extends financial support to Nepal Eye Hospital',
			'sub_title' => '',
			'summary' => 'April 11: Siddhartha Bank has extended financial support of Rs 110,000 to Nepal Eye Hospital, Tripureshwor to carry out cataract surgery of 44 marginalized cataract patients as part of the corporate social responsibility of the bank.',
			'content' => '<p>April 11: Siddhartha Bank has extended financial support of Rs 110,000 to Nepal Eye Hospital, Tripureshwor to carry out cataract surgery of 44 marginalized cataract patients as part of the corporate social responsibility of the bank.</p>

<p>Deputy General Manager of the bank, Rameshwor Prasad Bashyal, handed over the cheque of Rs 110,000 to Biswa Kanta Mainali, chairman of Nepal Eye Hospital amidst a function organised on the occasion of 44<sup>th</sup> anniversary of Nepal Eye Hospital.</p>

<p>DGM Bashyal expressed his immense gratification on behalf of Siddhartha Bank for having had an opportunity to serve the society and assured that the bank will continue to address the needs of the community and work for the betterment of the Nepali society in the future as well.</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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			'keywords' => '',
			'description' => '',
			'sortorder' => '7712',
			'image' => '20180411023606_IMG_1279.jpg',
			'article_date' => '2018-04-11 00:00:00',
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	(int) 11 => array(
		'Article' => array(
			'id' => '7930',
			'article_category_id' => '1',
			'title' => 'NIC Asia Bank signs loan agreement with IFC',
			'sub_title' => '',
			'summary' => 'April 11: NIC Asia Bank Ltd and International Finance Corporation (IFC), a member of World Bank Group, have signed a loan agreement.',
			'content' => '<p>April 11: NIC Asia Bank Ltd and International Finance Corporation (IFC), a member of World Bank Group, have signed a loan agreement.</p>

<p>Issuing a press statement, NIC Asia Bank said that its Acting CEO Roshan K Neupane and Mohammed Rehan Rashid, resident representative of IFC, signed the agreement on behalf of their respective organisations. The loan from IFC is subject to approval from Nepal Rastra Bank.</p>

<p>According to the statement, IFC assists developing countries to achieve sustainable growth by financing investment, providing advisory services to businesses and governments, and mobilizing capital in the international financial markets.</p>

<p>&quot;With the anticipation of continuing stress on domestic liquidity and continued pressure on Balance of Payments (BOP), the liquidity outlook does not appear to be on optimistic side thus leading to inadequate deposits supply to support the credit growth required to secure targeted economic growth of the country. Therefore, the bank has approached international banks and financial institutions to secure long-term borrowings to facilitate credit growth in priority sectors,&quot; the statement further reads.</p>

<p>The bank said it believes this kind of initiation with IFC would open opportunities for domestic banks to borrow from international banks setting up a historic milestone in the Nepali banking arena.</p>

<p>The loan obtained from IFC shall be mobilized in extending credit to the productive sectors designated by the central bank.</p>

<p>NIC Asia Bank is currently operating with its network of 192 branches, 195 ATM&rsquo;s, four extension counters and four branchless banking locations across the country.</p>
',
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			'created' => '2018-04-11',
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			'sortorder' => '7711',
			'image' => '20180411022020_Photograph foad.jpg',
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	(int) 12 => array(
		'Article' => array(
			'id' => '7929',
			'article_category_id' => '1',
			'title' => 'TVS Exchange Jatra Held',
			'sub_title' => '',
			'summary' => 'April 11: After the success of exchange camps in the past, TVS recently held TVS Exchange Jatra focusing on customers' needs.',
			'content' => '<p>April 11: After the success of exchange camps in the past, TVS recently held TVS Exchange Jatra focusing on customers&#39; needs. The Exchange Jatra which took place at Sallaghari Ground in Bhaktapur, saw notable footfall and customer participation.</p>

<p>The jatra was held April 6 to 10 and provided many customer-centric offers, the company said in a statement. According to the marketing head of Jagdamba Motors Pvt Ltd, any motorcycle or scooter of any condition was exchanged with a new TVS motorcycle or scooter at a minimum valuation of Rs 25,000.&nbsp;</p>

<p>Along with the best valuation of bikes/scooters, the New Year&rsquo;s gift of Rs 8001 instant cash back was also provided. The Exchange Jatra also offered free gift hampers in every test ride, a free TVS helmet worth Rs 2500, one smart phone every day for one person through lucky draw, quizzes and other attractions.</p>

<p>The company claimed that the Jatra, which was organized to make the customers&#39; two-wheeler purchase and exchange process easier, was held successfully. According to the company, the Jatra will be held again at various pre-informed locations soon.</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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			'sortorder' => '7710',
			'image' => '20180411021118_Logo.jpg',
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		'Article' => array(
			'id' => '7928',
			'article_category_id' => '1',
			'title' => 'Agni Energy Opens Mahindra Electric Service Station',
			'sub_title' => '',
			'summary' => 'April 11: Agni Energy Pvt Ltd, a subsidiary of Agni Group and the authorised distributor of Mahindra electric vehicles (EVs) and generators, has opened its new service station for EVs at Kupondole.',
			'content' => '<p>April 11: Agni Energy Pvt Ltd, a subsidiary of Agni Group and the authorised distributor of Mahindra electric vehicles (EVs) and generators, has opened its new service station for EVs at Kupondole.</p>

<p>Kunda Dixit, the editor -in-chief and publisher of Nepali Times, inaugurated the station amid a function on Tuesday, April 10. Issuing a press release, the company said that the station has been established to provide the best after-sales service and international brand experience to its customers.</p>

<p>According to the company, the service center will act as pre-delivery inspection unit (PDI) for Mahindra e2o and Mahindra eSupro to ensure that the customers receive the car in the best condition without damages.</p>

<p>The station will not only provide servicing and spare parts for Mahindra&#39;s electric cars, Mahindra e2p and eSupro, but also provide spare parts and services for house Kevin invertors, Konstant battery and Mahindra Powerol Generator, reads the statement.</p>
',
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			'keywords' => '',
			'description' => '',
			'sortorder' => '7709',
			'image' => '20180411011824__MG_0165.jpg',
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		'Article' => array(
			'id' => '7927',
			'article_category_id' => '1',
			'title' => 'NCC Bank and Reliance Life Insurance Ink Bancassurance Agreement',
			'sub_title' => '',
			'summary' => 'April 11: Nepal Credit and Commerce (NCC) Bank and Reliance Life Insurance have signed an agreement to commence bancassurance service to the customers.',
			'content' => '<p>April 11: Nepal Credit and Commerce (NCC) Bank and Reliance Life Insurance have signed an agreement to commence bancassurance service to the customers.</p>

<p>The bank&#39;s CEO Ranesh Raj Aryal and the insurance company&#39;s CEO Prabin Raman Parajuli signed an agreement amid a function on Tuesday, April 10. Following the agreement, the bank&#39;s customers can access any kind of insurance service provided by the insurance company.</p>
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			'image' => '20180411015159_NCC.jpg',
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