Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 60]
Code Context
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		'Article' => array(
			'id' => '6118',
			'article_category_id' => '1',
			'title' => 'Startups Nepal Organizes Seminar for Young Entrepreneurs',
			'sub_title' => '',
			'summary' => 'Startups Nepal organised a seminar on June 30 with a view to motivate early entrepreneurs and would-be entrepreneurs.  ',
			'content' => '<p>July 3: Startups Nepal organised a seminar on June 30 with a view to motivate early entrepreneurs and would-be entrepreneurs.</p>

<p>The programme, Udyami 101: Basics of Starting a Business, started with the keynote speech from Rudra Pandey, chairman and CEO of Deerwalk Inc. Focusing on his topic &#39;Fundamentals of Being an Entrepreneur&#39;, he mentioned some critical traits which are essential to become an entrepreneur. He shared that being an entrepreneur one must always be desperate to succeed and they must be fully dedicated to their business.</p>

<p>&quot;The entrepreneurs must also be able to handle their finances very well. The second session included panel discussion among Asgar Ali, CEO of eSewa; Bina Shrestha, founder of Shine Cleaning; Anil Shah, CEO of Mega Bank; and Sunayna Tamrakar, investment manager at One to Watch. The session was moderated by Rupesh K Shrestha, co-founder of Idea Studio. The discussion mainly focused on the journey of entrepreneurs, their mistakes and motivation in their journey as well as the prerequisites while running business. The role of banks to help foster the startups was also discussed. &nbsp;&nbsp;</p>

<p>During the programme, few participants from Udhyami Seed Camp-Women&rsquo;s Edition also shared their experiences and things they learnt from the Seed Camp.&nbsp;&nbsp;</p>
',
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			'sortorder' => '5902',
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			'id' => '6117',
			'article_category_id' => '1',
			'title' => 'Motivational Grants for Farmers in Parbat',
			'sub_title' => '',
			'summary' => 'Farmers of Parbat have received motivational grants from the Prime Minister’s Agriculture Modernization Project. ',
			'content' => '<p>July 3: Farmers of Parbat have received motivational grants from the Prime Minister&rsquo;s Agriculture Modernization Project. According to the District Agriculture Development Office (DADO), Parbat, the grants were distributed under a project to encourage farmers not to keep their land fallow. This is the first time such project has been initiated in the district. Farmers who planted paddy in the month of Chaitra or the year-end according to the Nepali calendar were provided the amount.</p>

<p>Senior agriculture development officer Basudev Regmi said that the office distributed Rs 100,000 to 400 farmers of Paiyu VDC. The district has a total of 28,600 hectares of cultivable land. Among them, farmers plant paddy annually in 9070 hectares of land while they cultivate seasonal paddy during the year-end in 700 hectares of land.&nbsp;</p>
',
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			'created' => '2017-07-03',
			'modified' => '2017-07-03',
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			'sortorder' => '5901',
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			'article_date' => '2017-07-03 00:00:00',
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			'id' => '6116',
			'article_category_id' => '1',
			'title' => 'Pokhara Metropolis to Provide Late-night Bus Service',
			'sub_title' => '',
			'summary' => 'Tourist hub Pokhara is all set to have late-night public transportation service soon. ',
			'content' => '<p>July 3: Tourist hub Pokhara is all set to have late-night public transportation service soon. Public buses which used to run till seven in the evening will now operate till nine.</p>

<p>The Transportation Management Committee of Pokhara took such decision upon the recommendation of a task force, formed by the committee itself, to address the problems of commuters. For the time being, the committee has decided to select two routes and provide late-night service at the earliest.</p>

<p>A meeting of the task force chaired by its coordinator Anil Shsahi, who is also an administrative officer at the District Administration Office, Kaski on Thursday recommended the concerned authorities to start the service immediately. The task force has identified the two probable routes &ndash; from Halanchowk toKahukhola and Fewa Lake to Birauta &ndash; for the service in the first phase.</p>

<p>At present, there are eight buses under the Pokhara Bus Entrepreneurs Committee plying the roads of the scenic lake city. Among those buses, four buses have been providing services in each of the two routes currently in operation. Each bus starts operating at an interval of half an hour.</p>

<p>For the night bus service, the concerned authorities have decided to provide security service with the help of Nepal Police as well as traffic police.</p>

<p>Increase in number of zebra crossings</p>

<p>With the rise in the number of vehicles in Pokhara-Lekhnath Municipality, the city authorities have started making zebra crossings at many places for the convenience of the pedestrians. Deputy Superintendent of Police Shiva Bahadur Thapa of the District Traffic Police Office, Kaski said that they have set up new zebra crossings in places which remain mostly crowded and they have also started repairing the existing zebra crossings. The metropolis has a target of finishing painting zebra crossings at 159 places. Triveni Construction Service has already started the works since Friday after bagging the contract worth Rs 3.6 million to make the zebra crossings. &nbsp;</p>
',
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			'created' => '2017-07-03',
			'modified' => '2017-07-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5900',
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		'Article' => array(
			'id' => '6115',
			'article_category_id' => '1',
			'title' => 'ADB Approves USD 150 Million Loan to Improve Power Distribution in Nepal',
			'sub_title' => '',
			'summary' => 'The Asian Development Bank (ADB) has approved a USD150 million loan to help improve the reliability and efficiency of Nepal’s electricity supply and distribution through the Nepal Electricity Authority (NEA). ',
			'content' => '<p>July 2: The Asian Development Bank (ADB) has approved a USD150 million loan to help improve the reliability and efficiency of Nepal&rsquo;s electricity supply and distribution through the Nepal Electricity Authority (NEA).&nbsp;</p>

<p>Issuing a press statement on Friday, ADB said it will also administer a USD 2 million technical assistance grant from the Japan Fund for Poverty Reduction (JFPR) financed by the Government of Japan to strengthen the capacity of Nepal&rsquo;s energy sector to deliver Gender Equality and Social Inclusion (GESI) results.&nbsp;</p>

<p>&ldquo;Reliable and sustainable electricity distribution and service is an important aspect to Nepal&rsquo;s growth and development, as well as in the improvement of the quality of life of all its people,&rdquo; the statement quoted Jiwan Acharya, an ADB senior energy specialist, as saying. &ldquo;We are confident that the project will help improve electricity distribution and efficiency in the country, and significantly support the government&rsquo;s goal of ending the country&rsquo;s energy crisis within the next two years and achieving Sustainable Development Goal 7 (Sustainable Energy for All).&rdquo;&nbsp;</p>

<p>The electricity supplies are expected to increase rapidly during the next several years through various hydropower projects nearing completion and imports from India through cross-border line, the statement further says. Therefore, the existing transmission and distribution systems need to be immediately rehabilitated and upgraded for the network to be able to deliver the additional electricity supplies to consumers.&nbsp;</p>

<p>According to the ADB, the project will enhance the distribution capacity and improve reliability and quality of electricity supply in the Kathmandu Valley by reducing distribution system overloads and technical and commercial losses. This will be done through the strengthening of the transmission grid capacity, increasing capacity and rehabilitating the distribution network in the project area, and enhancing operational and financial performance of NEA distribution centers. The project will also develop NEA&rsquo;s capacity to operate and manage an advanced distribution system and intelligent network (smart grid) technology with GESI aspects in electricity access and end-user awareness programs.&nbsp;</p>

<p>Kathmandu Valley, the main project area, accounts for about 400,000 end-users of electricity or about 16 percent&nbsp;of NEA&rsquo;s total consumers in Nepal, according to the statement.&nbsp;</p>
',
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			'created' => '2017-07-02',
			'modified' => '2017-07-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5899',
			'image' => '20170702045803_ADB.jpg',
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		'Article' => array(
			'id' => '6114',
			'article_category_id' => '1',
			'title' => 'Ncell Expands 4G/LTE Service in Pokhara and Damauli',
			'sub_title' => '',
			'summary' => 'Ncell has started fourth generation (4G)/long term evolution (LTE) service for its customers in Pokhara and Damauli since Saturday. ',
			'content' => '<p>July 2: Ncell has started fourth generation (4G)/long term evolution (LTE) service for its customers in Pokhara and Damauli since Saturday. Issuing a press statement, the telecom giant said it has expanded the service to western cities, including Pokhara and Damauli, as a part of its plan to make 4G accessible to 15% of population within 2017. &nbsp;</p>

<p>&quot;Ncell is committed to deliver on our promise to swiftly expand 4G service, so that the people could reap the benefits and country remains abreast in adoption of new technology. We are happy to officially launch the service to Pokhara and Damauli, as we announced earlier,&quot; said Milan Sharma, corporate communications expert at Ncell.</p>

<p>&nbsp;</p>

<p>With the launch, all Ncell subscribers of Pokhara and Damauli, who possess 4G SIM (U-SIM) with 4G compatible handset, are able to experience high speed mobile broadband connectivity. Customers who still have not changed their SIM to 4G SIM can easily upgrade the 4G SIM free of charges by visiting nearby Ncell Center or new customers can subscribe SIM to enjoy faster and higher quality of mobile broadband, reads the statement.</p>

<p>In the first phase, Ncell 4G was launched in Kathmandu Valley including in Nagarkot, and Banepa and Dhulikhel on June 1. The company has a target to take 4G service in 15 cities across the country by the end of this year.</p>

<p>&ldquo;With the launch of the 4G in Pokhara and Damauli, we will be covering a total of 10.3% population of the country with the high speed mobile broadband, while work is also underway to double 3G coverage to 60% papulation focusing rural and remote areas by 2018,&rdquo; said Sharma.</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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			'created' => '2017-07-02',
			'modified' => '2017-07-02',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5898',
			'image' => '20170702040125_Ncell-brand-logo.jpg',
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		'Article' => array(
			'id' => '6113',
			'article_category_id' => '1',
			'title' => 'Construction of 8 Mega Cities to Begin from Next FY',
			'sub_title' => '',
			'summary' => 'The government is planning to prepare the detailed project reports (DPR) of the proposed eight mega cities in different parts of the country, including Kathmandu, in the upcoming fiscal year 2017/18.',
			'content' => '<p>July 2: The government is planning to prepare the detailed project reports (DPR) of the proposed eight mega cities in different parts of the country, including Kathmandu, in the upcoming fiscal year 2017/18.</p>

<p>The feasibility study for the mega cities has already been conducted in all the seven provinces.</p>

<p>The Ministry of Urban Development (MoUD) had developed the concept of mega cities in different parts of the country with a view to develop infrastructures in every province in the new federal setup.</p>

<p>According to Joint Secretary Ramesh Prasad Singh, spokesperson of MoUD, necessary homework has already been started for the construction of mega cities in the selected areas.</p>

<p>&ldquo;We are preparing our work plan in order to start the construction of mega cities formally from the upcoming fiscal year,&rdquo; he said.</p>

<p>He further informed that the feasibility reports of the cities are ready and the ministry is planning to start the works as per the DPR from the upcoming FY. MoUD has estimated a budget of at least Rs 5 billion for the development of even a simple urban infrastructure in one mega city.</p>

<p>Singh added that it would cost at least Rs five million for the detailed engineering works of one city. The mega cities will be built under the land-pulling system. However, Singh said that there will be lots of hassles to adopt the system in many areas.</p>

<p>The idea of mega cities was popularized by political parties in their manifestos and it holds great public interest.</p>

<p>The government is planning to build mega cities along the corridors of Dharan-Biratnagar, Janakpur-Dhalkebar-Bardibas, Pokhara (Lekhnath)-Dulegauda, Siddharthanagar-Butwal (Lumbini), Nepalgunj-Kohalpur, Birendranagar (Surkhet)-Dashrakshya Bridge-Chinchu and Mahendranagar-Dhangadhi-Attariya as well as in &nbsp;Kathmandu.</p>

<p>The ministry has a target to develop basic physical infrastructures in these mega cities within 10 years.</p>

<p>The mega cities are expected to ease the rapid urbanization of current cities of the country and would also help in reducing migration as well as support uniform development of all regions of the country.</p>

<p>&nbsp;</p>
',
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			'created' => '2017-07-02',
			'modified' => '2017-07-02',
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			'description' => '',
			'sortorder' => '5897',
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		'Article' => array(
			'id' => '6112',
			'article_category_id' => '1',
			'title' => 'Om Development Bank opens Branch at Arghau',
			'sub_title' => '',
			'summary' => 'Om Development Bank has opened its branch at Arghau of Lekhnath Municipality in Kaski district.',
			'content' => '<p>July 2: Om Development Bank has opened its branch at Arghau of Lekhnath Municipality in Kaski district.</p>

<p>Mayor Man Bahadur GC of Pokhara-Lekhnath Metropolis inaugurated the branch amid a program on June 30.</p>

<p>During the occasion, the bank also provided scholarships to students of Laxmi Secondary School, Lekhnath and fans to Srijana Deaf Boarding&nbsp; School, Lekhnath.</p>

<p>After acquiring Manaslu Development Bank on June 16, the bank&#39;s paid-up capital has reached Rs 1.65 billion, deposit to Rs 15.40 billion and loan Rs 13.80 billion, informed the bank&rsquo;s CEO Bishwo Mohan Adhikari.</p>
',
			'published' => true,
			'created' => '2017-07-02',
			'modified' => '2017-07-04',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5896',
			'image' => '20170703040052_download.jpg',
			'article_date' => '2017-07-02 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
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	(int) 7 => array(
		'Article' => array(
			'id' => '6111',
			'article_category_id' => '1',
			'title' => 'Deva Development Bank Opens Branch at Madi',
			'sub_title' => '',
			'summary' => 'Deva Bikas Bank (DBB) has opened a new branch at Madi-3, Basantapur in Chitwan district.',
			'content' => '<p>July 2: Deva Bikas Bank (DBB) has opened a new branch at Madi-3, Basantapur in Chitwan district.</p>

<p>The branch was inaugurated by Chintamani Shiwakoti, deputy governor of NRB, amid a program on June 30.</p>

<p>Bijay Bahadur Shrestha, CEO of the bank, said that the bank will play an active role in contributing to the economic development of Madi, Chitwan.</p>

<p>So far, the bank has collected Rs 10 billion deposit and provided Rs 9.39 billion loan, informed Shrestha.</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-02',
			'modified' => '2017-07-04',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5895',
			'image' => '20170703040303_Dev.JPG',
			'article_date' => '2017-07-02 00:00:00',
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	(int) 8 => array(
		'Article' => array(
			'id' => '6110',
			'article_category_id' => '1',
			'title' => 'ICFC Opens Branch in Chitwan',
			'sub_title' => '',
			'summary' => 'ICFC Finance has opened its branch at Jyotinagar of Chitwan district.',
			'content' => '<p>July 2: ICFC Finance has opened its branch at Jyotinagar of Chitwan district.</p>

<p>Sunil Panta, CEO of the bank, inaugurated the branch amid a program held on June 30.</p>

<p>With the addition, the bank is now providing financial services from 15 branches, one extension counter and 12 outlets. The bank is also planning to open its branch at Narayanghat in Chitwan in the near future.</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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			'created' => '2017-07-02',
			'modified' => '2017-07-02',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5894',
			'image' => '20170702021232_logo.jpg',
			'article_date' => '2017-07-02 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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	(int) 9 => array(
		'Article' => array(
			'id' => '6109',
			'article_category_id' => '1',
			'title' => 'NRB to Take Action Against BFIs Which do not Meet the Paid-up Capital Requirement',
			'sub_title' => '',
			'summary' => 'Nepal Rastra Bank (NRB) has warned banks and financial institutions (BFIs) of stern action if they fail to meet the paid-up capital requirement by mid-July. ',
			'content' => '<p>July 2: Nepal Rastra Bank (NRB) has warned banks and financial institutions (BFIs) of stern action if they fail to meet the paid-up capital requirement by mid-July. The central bank has said it will put a hold on cash dividends, bonus distribution, deposits, loan ceiling and opening of new branches of those BFIs which do not comply with its directives. Two years ago, the NRB had brought a new monetary policy under which all commercial banks were asked to increase the minimum paid-up capital from Rs 2 billion to Rs 8 billion by mid-July 2017.</p>

<p>NRB&rsquo;s Spokesperson Narayan Prasad Poudel issued such warning at a function organized by Kumari Bank to mark the beginning of its integrated transaction service on Friday after acquisition of three development banks and one financial institution.</p>

<p>According to Poudel, merger and acquisition has reduced the number of BFIs from 150 to 46 so far.</p>

<p>Speaking at the function, Governor of NRB Dr Chiranjivi Nepal said that the International Monetary Fund and the World Bank had suggested to the central bank eight years ago to increase the paid-up capital and the implementation of the plan has now become successful. &nbsp;</p>

<p>Governor Nepal said that the new ceiling of paid-up capital set by the central bank will help in improving the overall banking system of Nepal in the coming days. The new measures taken by the NRB has made large-scale investment possible, argued Governor Nepal.</p>

<p>&ldquo;Now, we don&rsquo;t have to depend solely upon donor agencies for large-scale investment,&rdquo; he said, adding, &ldquo;Banks and financial institutions will now have plenty of capital.&rdquo;</p>

<p>Governor Nepal also drew the attention of all stakeholders to expand the network of banking sector to various parts of the country since only 240 local units out of the total 744 units in the new federal setup have banking service.</p>

<p>Kumari Bank has started integrated transaction service since Friday after acquiring Kasthamandap Development Bank, Mahakali Bikas Bank, Kakrebhir Bikas Bank and Paschimacnhal Finance. Kumari Bank&rsquo;s operator Dr Shobhakant Dhakal said that the bank is still short of Rs 590 million to meet the paid-up capital requirement of Rs 8 billion even after acquiring the four new BFIs. Dhakal informed that the bank would meet the requirement by providing only 20 percent share bonus in the current fiscal year.</p>

<p>After the merger, Kumari Bank has appointed Surendra Bhandari as the new Chief Executive Officer. Now, the bank&rsquo;s deposit is Rs 52 billion while it has loaned out Rs 45 billion. &nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-02',
			'modified' => '2017-07-02',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5893',
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	(int) 10 => array(
		'Article' => array(
			'id' => '6108',
			'article_category_id' => '1',
			'title' => 'NRN steps up effort in cleaning airport',
			'sub_title' => '',
			'summary' => 'Non Residential Nepalis (NRNs) have launched a campaign to clean up Tribhuvan International Airport (TIA).',
			'content' => '<p>June 30: Non Residential Nepalis (NRNs) have launched a campaign to clean up Tribhuvan International Airport (TIA). During the month-long campaign, NRN will provide training to the employees of the airport as well as cleaning materials. Skilled trainers and technicians from Australia-based Khem&rsquo;s Cleaning Service has been assisting the airport staff in this project.</p>

<p>NRN International Coordination Council&rsquo;s vice president and Nepal Tourism Promotion Committee&rsquo;s Chairman Bhavan Bhatta inaugurated the campaign by handing over the cleaning materials to Director General of Civil Aviation Authority of Nepal Sanjeev Gautam and TIA General Manager Devananda Upadhyay.</p>

<p>Stating that the first impression of foreigners toward Nepal starts once they step their foot on the airport, the NRN said it decided to step up its effort in cleaning the airport to maintain the dignity of the country which regards tourists as &lsquo;gods&rsquo;.</p>

<p>TIA General Manager Upadhyay said that cleanliness is a regular affair and this campaign would bear fruit only if it becomes sustainable. Director General of CAAN Upadhyay admitted that the airport authorities could not maintain proper cleanliness due to excessive number of passengers. He further said that the authorities have been relentless working to maintain the hygiene of the airport and that the collaboration with NRN has helped them in bringing some changes.</p>

<p>Operator of Khem&rsquo;s Cleaning Service, Khem Sharma, said that the outlook of the airport can be changed if they carry out cleanliness drive in a properly managed way.</p>
',
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			'created' => '2017-06-30',
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	(int) 11 => array(
		'Article' => array(
			'id' => '6107',
			'article_category_id' => '1',
			'title' => 'Mega Bank Applies for Right Shares',
			'sub_title' => '',
			'summary' => 'Mega Bank has applied for issuance of 65 percent right shares at SEBON.',
			'content' => '<p>June 30: Mega Bank has applied for issuance of 65 percent right shares at SEBON. The bank had decided to issue 65 percent right shares during its last Annual General Meeting.</p>

<p>The bank has asked for the approval for issuing around 29.785 million units of right shares, informed CEO of the bank Anil Keshari Shah.</p>

<p>&nbsp;Nabil Investment Bank will be the issue manager for the issuance of right shares, the bank said in a press statement.</p>

<p>&nbsp;</p>
',
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			'created' => '2017-06-30',
			'modified' => '2017-06-30',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5891',
			'image' => '20170630040241_mega-bank.jpg',
			'article_date' => '2017-06-30 00:00:00',
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	(int) 12 => array(
		'Article' => array(
			'id' => '6106',
			'article_category_id' => '1',
			'title' => '10 New Companies to Open up New Avenues in Insurance Market',
			'sub_title' => '',
			'summary' => 'With 10 new life insurance companies about to hit the market, the overall business of the country as well as the concerned sector is expected to witness some good prospects in the near future.',
			'content' => '<p>June 30: With 10 new life insurance companies about to hit the market, the overall business of the country as well as the concerned sector is expected to witness some good prospects in the near future.</p>

<p>Experts say that this will increase competition among the insurance companies and create more benefits for the policyholders. It is also expected to create more employment opportunities.</p>

<p>According to the Insurance Committee of Nepal, the number of life insurance companies will reach 19 after the additional 10 companies come into operation. Currently, there are nine life insurance companies and 17 non-life insurance companies as well as one reinsurance company in Nepal. However, the committee&#39;s statistics says that only seven per cent of people have access to insurance.</p>

<p>&quot;The statistics have only counted the surrender and more than one policies of each individual. So, the percentage is not more than five percent,&quot; says Ramesh Kumar Bhattarai, Former Executive Officer of Asian Life Insurance. &nbsp;</p>

<p>&nbsp;</p>

<p>The new companies are in the final stage of entering the market. Anticipating tough competition, both the operational life insurance companies as well as the new companies are preparing to come up with attractive policies and packages to woo their clients.</p>

<p>&nbsp;<strong>95 per cent people not insured</strong></p>

<p>According to Ramesh Kumar Bhattarai, former executive officer of Asian Life Insurance, 95 per cent of the total population is still out of reach from insurance.</p>

<p>&quot;This is definitely an opportunity for the insurance companies. So, they should utilise this prospect to increase the market for insurance,&quot; shared Bhatttarai.</p>

<p>According to Bijay Kumar Sarawagi, chairman of Asian Life Insurance, the insurance market has not fostered due to the lack of awareness about insurance among the people. He said that the government&#39;s unfriendly policy towards the insurance sector is one of the reasons that has been hindering the growth of this sector.</p>

<p>Sarawagi said that the government has set the insurance waiver ceiling at Rs 20,000 for income tax, which is very less.</p>

<p>&quot;In India, the waiver ceiling is Rs 100,000,&quot; he said, adding that addressing this problem would definitely help to improve this sector.</p>

<p>The insurance sector also lacks enough human resources. Experts believe that increase in the number of insurance companies will also create employment for many people.</p>

<p><strong>Employment for 27,000 people </strong></p>

<p>According to the operators of insurance companies, one insurance company requires around 200 employees and 2,500 insurance agents. Therefore, around 27,000 people will be required for 10 insurance companies. Sarawagi shared that as this business is dependent on insurance agents, they have a vital role to play in this sector.</p>

<p>&quot;There is no practice of online insurance here so far. So, the people purchase insurance on the basis of trust they build with the agent,&rdquo; he added.</p>

<p>According to the Insurance Committee, there are more than 75,000 insurance agents as of now. There are also quite a few number of passive agents in this sector. Experts say that the new companies entering the market might also bring changes in the passive agents.</p>

<p>Bhattarai said that though there are around 300 BFIs in Nepal, not more than 50 per cent citizens are have access to such institutions.</p>

<p>&nbsp;&nbsp;</p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '6105',
			'article_category_id' => '1',
			'title' => 'NEHUB organizes meet on business incubation',
			'sub_title' => '',
			'summary' => ' Nepal Entrepreneurs’ Hub (NEHUB) organized the 15th ‘Spark Talk and Meetups’ on June 27 to highlight about the international trend in business incubation.',
			'content' => '<p>June 30: Nepal Entrepreneurs&rsquo; Hub (NEHUB) organized the 15<sup>th</sup> &lsquo;Spark Talk and Meetups&rsquo; on June 27 to highlight about the international trend in business incubation.</p>

<p>Julian Webb, business incubation &lsquo;InfoDev&rsquo; consultant to World Bank and managing director of CREED Projects, shed light on international trends in incubation.</p>

<p>During the first session, the speaker talked about his experience in international trends in incubation. In the presence of important stakeholders from universities, incubation centers, business accelerators and innovation hubs contributing to the entrepreneurial ecosystem of the country, the program shed light on the challenges and opportunities that these institution face whilst operating in Nepal, reads a press statement issued by NEHUB.</p>

<p>&nbsp;&ldquo;We need to get our basics right first and then talk about disruptive innovation that takes place in Silicon Valley. Incubation centers operating in Nepal must capitalize on the opportunities that are already present in Nepal,&rdquo; said &nbsp;Rupesh Krishna Shrestha, assistant professor at Kathmandu University School of Management.&nbsp;</p>

<p>In addition, the programme also focused on discussions including key skill sets for entrepreneurs needed to go for incubation, importance of bootstrapping against venture capitalist in developing nation and importance of university-based incubation center.</p>

<p>&nbsp;</p>
',
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			'sortorder' => '5889',
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		'Article' => array(
			'id' => '6104',
			'article_category_id' => '1',
			'title' => 'IRD chief unable to furnish bail',
			'sub_title' => '',
			'summary' => 'June 30: The Commission for the Investigation of Abuse of Authority (CIAA) has demanded a bail amount of Rs 3 billion from Inland Revenue Department’s (IRD) Director General Chudamani Sharma. ',
			'content' => '<p>June 30: The Commission for the Investigation of Abuse of Authority (CIAA) has demanded a bail amount of Rs 3 billion from Inland Revenue Department&rsquo;s (IRD) Director General Chudamani Sharma. According to informed sources, Sharma is unlikely to furnish the bail amount. Sharma is currently under CIAA custody. He was arrested on June 2 for his alleged involvement in abetting various institutions and individuals in avoiding taxes.</p>

<p>CIAA Spokesperson Jeevraj Koirala said that the anti-graft body is preparing to investigate more than 1,000 files related to Sharma. According to him, the CIAA has already studied 125 files after the arrest of Sharma about a month ago. Sources at the CIAA informed that they found irregularities worth Rs 9 billion after studying those files. Investigations carried out so far have revealed Sharma&rsquo;s involvement in helping various people illegally avoid Rs 9 billion in taxes but the sources said the total embezzled amount cannot be ascertained without the completion of the investigations.</p>

<p>Sources said that the CIAA sought bail from Sharma since it would take quite some time for studying all the files.</p>

<p>&ldquo;Although we have asked for the bail, Sharma hasn&rsquo;t been able to submit the amount. &nbsp;He could have stayed away from the cell as long as the investigations are underway,&rdquo; said one of the sources.</p>

<p>Although other government employees at the IRD used to be transferred to various departments from time to time, Sharma had remained the director general of the office for a long period. He has been accused of soliciting support from power centers to remain in the post. Few years ago, the government had formed a tax clearance commission. Sharma was the member secretary of the commission while Lumba Dhwoj Mahat was the coordinator and Umesh Dhakal a member. The CIAA has publicly announced incentives for anyone who gives information regarding the whereabouts of Mahat and Dhakal.</p>

<p>There is a legal provision for the CIAA to keep anyone accused of corruption in prison for six months. However, the CIAA needs to take permission from the Special Court for that purpose. The anti-graft body also has to seek renewal order every month from the Special Court.&nbsp;</p>
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		'Article' => array(
			'id' => '6118',
			'article_category_id' => '1',
			'title' => 'Startups Nepal Organizes Seminar for Young Entrepreneurs',
			'sub_title' => '',
			'summary' => 'Startups Nepal organised a seminar on June 30 with a view to motivate early entrepreneurs and would-be entrepreneurs.  ',
			'content' => '<p>July 3: Startups Nepal organised a seminar on June 30 with a view to motivate early entrepreneurs and would-be entrepreneurs.</p>

<p>The programme, Udyami 101: Basics of Starting a Business, started with the keynote speech from Rudra Pandey, chairman and CEO of Deerwalk Inc. Focusing on his topic &#39;Fundamentals of Being an Entrepreneur&#39;, he mentioned some critical traits which are essential to become an entrepreneur. He shared that being an entrepreneur one must always be desperate to succeed and they must be fully dedicated to their business.</p>

<p>&quot;The entrepreneurs must also be able to handle their finances very well. The second session included panel discussion among Asgar Ali, CEO of eSewa; Bina Shrestha, founder of Shine Cleaning; Anil Shah, CEO of Mega Bank; and Sunayna Tamrakar, investment manager at One to Watch. The session was moderated by Rupesh K Shrestha, co-founder of Idea Studio. The discussion mainly focused on the journey of entrepreneurs, their mistakes and motivation in their journey as well as the prerequisites while running business. The role of banks to help foster the startups was also discussed. &nbsp;&nbsp;</p>

<p>During the programme, few participants from Udhyami Seed Camp-Women&rsquo;s Edition also shared their experiences and things they learnt from the Seed Camp.&nbsp;&nbsp;</p>
',
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			'created' => '2017-07-03',
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			'sortorder' => '5902',
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			'id' => '6117',
			'article_category_id' => '1',
			'title' => 'Motivational Grants for Farmers in Parbat',
			'sub_title' => '',
			'summary' => 'Farmers of Parbat have received motivational grants from the Prime Minister’s Agriculture Modernization Project. ',
			'content' => '<p>July 3: Farmers of Parbat have received motivational grants from the Prime Minister&rsquo;s Agriculture Modernization Project. According to the District Agriculture Development Office (DADO), Parbat, the grants were distributed under a project to encourage farmers not to keep their land fallow. This is the first time such project has been initiated in the district. Farmers who planted paddy in the month of Chaitra or the year-end according to the Nepali calendar were provided the amount.</p>

<p>Senior agriculture development officer Basudev Regmi said that the office distributed Rs 100,000 to 400 farmers of Paiyu VDC. The district has a total of 28,600 hectares of cultivable land. Among them, farmers plant paddy annually in 9070 hectares of land while they cultivate seasonal paddy during the year-end in 700 hectares of land.&nbsp;</p>
',
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			'sortorder' => '5901',
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		'Article' => array(
			'id' => '6116',
			'article_category_id' => '1',
			'title' => 'Pokhara Metropolis to Provide Late-night Bus Service',
			'sub_title' => '',
			'summary' => 'Tourist hub Pokhara is all set to have late-night public transportation service soon. ',
			'content' => '<p>July 3: Tourist hub Pokhara is all set to have late-night public transportation service soon. Public buses which used to run till seven in the evening will now operate till nine.</p>

<p>The Transportation Management Committee of Pokhara took such decision upon the recommendation of a task force, formed by the committee itself, to address the problems of commuters. For the time being, the committee has decided to select two routes and provide late-night service at the earliest.</p>

<p>A meeting of the task force chaired by its coordinator Anil Shsahi, who is also an administrative officer at the District Administration Office, Kaski on Thursday recommended the concerned authorities to start the service immediately. The task force has identified the two probable routes &ndash; from Halanchowk toKahukhola and Fewa Lake to Birauta &ndash; for the service in the first phase.</p>

<p>At present, there are eight buses under the Pokhara Bus Entrepreneurs Committee plying the roads of the scenic lake city. Among those buses, four buses have been providing services in each of the two routes currently in operation. Each bus starts operating at an interval of half an hour.</p>

<p>For the night bus service, the concerned authorities have decided to provide security service with the help of Nepal Police as well as traffic police.</p>

<p>Increase in number of zebra crossings</p>

<p>With the rise in the number of vehicles in Pokhara-Lekhnath Municipality, the city authorities have started making zebra crossings at many places for the convenience of the pedestrians. Deputy Superintendent of Police Shiva Bahadur Thapa of the District Traffic Police Office, Kaski said that they have set up new zebra crossings in places which remain mostly crowded and they have also started repairing the existing zebra crossings. The metropolis has a target of finishing painting zebra crossings at 159 places. Triveni Construction Service has already started the works since Friday after bagging the contract worth Rs 3.6 million to make the zebra crossings. &nbsp;</p>
',
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			'created' => '2017-07-03',
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			'sortorder' => '5900',
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		'Article' => array(
			'id' => '6115',
			'article_category_id' => '1',
			'title' => 'ADB Approves USD 150 Million Loan to Improve Power Distribution in Nepal',
			'sub_title' => '',
			'summary' => 'The Asian Development Bank (ADB) has approved a USD150 million loan to help improve the reliability and efficiency of Nepal’s electricity supply and distribution through the Nepal Electricity Authority (NEA). ',
			'content' => '<p>July 2: The Asian Development Bank (ADB) has approved a USD150 million loan to help improve the reliability and efficiency of Nepal&rsquo;s electricity supply and distribution through the Nepal Electricity Authority (NEA).&nbsp;</p>

<p>Issuing a press statement on Friday, ADB said it will also administer a USD 2 million technical assistance grant from the Japan Fund for Poverty Reduction (JFPR) financed by the Government of Japan to strengthen the capacity of Nepal&rsquo;s energy sector to deliver Gender Equality and Social Inclusion (GESI) results.&nbsp;</p>

<p>&ldquo;Reliable and sustainable electricity distribution and service is an important aspect to Nepal&rsquo;s growth and development, as well as in the improvement of the quality of life of all its people,&rdquo; the statement quoted Jiwan Acharya, an ADB senior energy specialist, as saying. &ldquo;We are confident that the project will help improve electricity distribution and efficiency in the country, and significantly support the government&rsquo;s goal of ending the country&rsquo;s energy crisis within the next two years and achieving Sustainable Development Goal 7 (Sustainable Energy for All).&rdquo;&nbsp;</p>

<p>The electricity supplies are expected to increase rapidly during the next several years through various hydropower projects nearing completion and imports from India through cross-border line, the statement further says. Therefore, the existing transmission and distribution systems need to be immediately rehabilitated and upgraded for the network to be able to deliver the additional electricity supplies to consumers.&nbsp;</p>

<p>According to the ADB, the project will enhance the distribution capacity and improve reliability and quality of electricity supply in the Kathmandu Valley by reducing distribution system overloads and technical and commercial losses. This will be done through the strengthening of the transmission grid capacity, increasing capacity and rehabilitating the distribution network in the project area, and enhancing operational and financial performance of NEA distribution centers. The project will also develop NEA&rsquo;s capacity to operate and manage an advanced distribution system and intelligent network (smart grid) technology with GESI aspects in electricity access and end-user awareness programs.&nbsp;</p>

<p>Kathmandu Valley, the main project area, accounts for about 400,000 end-users of electricity or about 16 percent&nbsp;of NEA&rsquo;s total consumers in Nepal, according to the statement.&nbsp;</p>
',
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			'created' => '2017-07-02',
			'modified' => '2017-07-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5899',
			'image' => '20170702045803_ADB.jpg',
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		'Article' => array(
			'id' => '6114',
			'article_category_id' => '1',
			'title' => 'Ncell Expands 4G/LTE Service in Pokhara and Damauli',
			'sub_title' => '',
			'summary' => 'Ncell has started fourth generation (4G)/long term evolution (LTE) service for its customers in Pokhara and Damauli since Saturday. ',
			'content' => '<p>July 2: Ncell has started fourth generation (4G)/long term evolution (LTE) service for its customers in Pokhara and Damauli since Saturday. Issuing a press statement, the telecom giant said it has expanded the service to western cities, including Pokhara and Damauli, as a part of its plan to make 4G accessible to 15% of population within 2017. &nbsp;</p>

<p>&quot;Ncell is committed to deliver on our promise to swiftly expand 4G service, so that the people could reap the benefits and country remains abreast in adoption of new technology. We are happy to officially launch the service to Pokhara and Damauli, as we announced earlier,&quot; said Milan Sharma, corporate communications expert at Ncell.</p>

<p>&nbsp;</p>

<p>With the launch, all Ncell subscribers of Pokhara and Damauli, who possess 4G SIM (U-SIM) with 4G compatible handset, are able to experience high speed mobile broadband connectivity. Customers who still have not changed their SIM to 4G SIM can easily upgrade the 4G SIM free of charges by visiting nearby Ncell Center or new customers can subscribe SIM to enjoy faster and higher quality of mobile broadband, reads the statement.</p>

<p>In the first phase, Ncell 4G was launched in Kathmandu Valley including in Nagarkot, and Banepa and Dhulikhel on June 1. The company has a target to take 4G service in 15 cities across the country by the end of this year.</p>

<p>&ldquo;With the launch of the 4G in Pokhara and Damauli, we will be covering a total of 10.3% population of the country with the high speed mobile broadband, while work is also underway to double 3G coverage to 60% papulation focusing rural and remote areas by 2018,&rdquo; said Sharma.</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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			'sortorder' => '5898',
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		'Article' => array(
			'id' => '6113',
			'article_category_id' => '1',
			'title' => 'Construction of 8 Mega Cities to Begin from Next FY',
			'sub_title' => '',
			'summary' => 'The government is planning to prepare the detailed project reports (DPR) of the proposed eight mega cities in different parts of the country, including Kathmandu, in the upcoming fiscal year 2017/18.',
			'content' => '<p>July 2: The government is planning to prepare the detailed project reports (DPR) of the proposed eight mega cities in different parts of the country, including Kathmandu, in the upcoming fiscal year 2017/18.</p>

<p>The feasibility study for the mega cities has already been conducted in all the seven provinces.</p>

<p>The Ministry of Urban Development (MoUD) had developed the concept of mega cities in different parts of the country with a view to develop infrastructures in every province in the new federal setup.</p>

<p>According to Joint Secretary Ramesh Prasad Singh, spokesperson of MoUD, necessary homework has already been started for the construction of mega cities in the selected areas.</p>

<p>&ldquo;We are preparing our work plan in order to start the construction of mega cities formally from the upcoming fiscal year,&rdquo; he said.</p>

<p>He further informed that the feasibility reports of the cities are ready and the ministry is planning to start the works as per the DPR from the upcoming FY. MoUD has estimated a budget of at least Rs 5 billion for the development of even a simple urban infrastructure in one mega city.</p>

<p>Singh added that it would cost at least Rs five million for the detailed engineering works of one city. The mega cities will be built under the land-pulling system. However, Singh said that there will be lots of hassles to adopt the system in many areas.</p>

<p>The idea of mega cities was popularized by political parties in their manifestos and it holds great public interest.</p>

<p>The government is planning to build mega cities along the corridors of Dharan-Biratnagar, Janakpur-Dhalkebar-Bardibas, Pokhara (Lekhnath)-Dulegauda, Siddharthanagar-Butwal (Lumbini), Nepalgunj-Kohalpur, Birendranagar (Surkhet)-Dashrakshya Bridge-Chinchu and Mahendranagar-Dhangadhi-Attariya as well as in &nbsp;Kathmandu.</p>

<p>The ministry has a target to develop basic physical infrastructures in these mega cities within 10 years.</p>

<p>The mega cities are expected to ease the rapid urbanization of current cities of the country and would also help in reducing migration as well as support uniform development of all regions of the country.</p>

<p>&nbsp;</p>
',
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		'Article' => array(
			'id' => '6112',
			'article_category_id' => '1',
			'title' => 'Om Development Bank opens Branch at Arghau',
			'sub_title' => '',
			'summary' => 'Om Development Bank has opened its branch at Arghau of Lekhnath Municipality in Kaski district.',
			'content' => '<p>July 2: Om Development Bank has opened its branch at Arghau of Lekhnath Municipality in Kaski district.</p>

<p>Mayor Man Bahadur GC of Pokhara-Lekhnath Metropolis inaugurated the branch amid a program on June 30.</p>

<p>During the occasion, the bank also provided scholarships to students of Laxmi Secondary School, Lekhnath and fans to Srijana Deaf Boarding&nbsp; School, Lekhnath.</p>

<p>After acquiring Manaslu Development Bank on June 16, the bank&#39;s paid-up capital has reached Rs 1.65 billion, deposit to Rs 15.40 billion and loan Rs 13.80 billion, informed the bank&rsquo;s CEO Bishwo Mohan Adhikari.</p>
',
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			'created' => '2017-07-02',
			'modified' => '2017-07-04',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5896',
			'image' => '20170703040052_download.jpg',
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		'Article' => array(
			'id' => '6111',
			'article_category_id' => '1',
			'title' => 'Deva Development Bank Opens Branch at Madi',
			'sub_title' => '',
			'summary' => 'Deva Bikas Bank (DBB) has opened a new branch at Madi-3, Basantapur in Chitwan district.',
			'content' => '<p>July 2: Deva Bikas Bank (DBB) has opened a new branch at Madi-3, Basantapur in Chitwan district.</p>

<p>The branch was inaugurated by Chintamani Shiwakoti, deputy governor of NRB, amid a program on June 30.</p>

<p>Bijay Bahadur Shrestha, CEO of the bank, said that the bank will play an active role in contributing to the economic development of Madi, Chitwan.</p>

<p>So far, the bank has collected Rs 10 billion deposit and provided Rs 9.39 billion loan, informed Shrestha.</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-02',
			'modified' => '2017-07-04',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5895',
			'image' => '20170703040303_Dev.JPG',
			'article_date' => '2017-07-02 00:00:00',
			'homepage' => false,
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	(int) 8 => array(
		'Article' => array(
			'id' => '6110',
			'article_category_id' => '1',
			'title' => 'ICFC Opens Branch in Chitwan',
			'sub_title' => '',
			'summary' => 'ICFC Finance has opened its branch at Jyotinagar of Chitwan district.',
			'content' => '<p>July 2: ICFC Finance has opened its branch at Jyotinagar of Chitwan district.</p>

<p>Sunil Panta, CEO of the bank, inaugurated the branch amid a program held on June 30.</p>

<p>With the addition, the bank is now providing financial services from 15 branches, one extension counter and 12 outlets. The bank is also planning to open its branch at Narayanghat in Chitwan in the near future.</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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			'created' => '2017-07-02',
			'modified' => '2017-07-02',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5894',
			'image' => '20170702021232_logo.jpg',
			'article_date' => '2017-07-02 00:00:00',
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	(int) 9 => array(
		'Article' => array(
			'id' => '6109',
			'article_category_id' => '1',
			'title' => 'NRB to Take Action Against BFIs Which do not Meet the Paid-up Capital Requirement',
			'sub_title' => '',
			'summary' => 'Nepal Rastra Bank (NRB) has warned banks and financial institutions (BFIs) of stern action if they fail to meet the paid-up capital requirement by mid-July. ',
			'content' => '<p>July 2: Nepal Rastra Bank (NRB) has warned banks and financial institutions (BFIs) of stern action if they fail to meet the paid-up capital requirement by mid-July. The central bank has said it will put a hold on cash dividends, bonus distribution, deposits, loan ceiling and opening of new branches of those BFIs which do not comply with its directives. Two years ago, the NRB had brought a new monetary policy under which all commercial banks were asked to increase the minimum paid-up capital from Rs 2 billion to Rs 8 billion by mid-July 2017.</p>

<p>NRB&rsquo;s Spokesperson Narayan Prasad Poudel issued such warning at a function organized by Kumari Bank to mark the beginning of its integrated transaction service on Friday after acquisition of three development banks and one financial institution.</p>

<p>According to Poudel, merger and acquisition has reduced the number of BFIs from 150 to 46 so far.</p>

<p>Speaking at the function, Governor of NRB Dr Chiranjivi Nepal said that the International Monetary Fund and the World Bank had suggested to the central bank eight years ago to increase the paid-up capital and the implementation of the plan has now become successful. &nbsp;</p>

<p>Governor Nepal said that the new ceiling of paid-up capital set by the central bank will help in improving the overall banking system of Nepal in the coming days. The new measures taken by the NRB has made large-scale investment possible, argued Governor Nepal.</p>

<p>&ldquo;Now, we don&rsquo;t have to depend solely upon donor agencies for large-scale investment,&rdquo; he said, adding, &ldquo;Banks and financial institutions will now have plenty of capital.&rdquo;</p>

<p>Governor Nepal also drew the attention of all stakeholders to expand the network of banking sector to various parts of the country since only 240 local units out of the total 744 units in the new federal setup have banking service.</p>

<p>Kumari Bank has started integrated transaction service since Friday after acquiring Kasthamandap Development Bank, Mahakali Bikas Bank, Kakrebhir Bikas Bank and Paschimacnhal Finance. Kumari Bank&rsquo;s operator Dr Shobhakant Dhakal said that the bank is still short of Rs 590 million to meet the paid-up capital requirement of Rs 8 billion even after acquiring the four new BFIs. Dhakal informed that the bank would meet the requirement by providing only 20 percent share bonus in the current fiscal year.</p>

<p>After the merger, Kumari Bank has appointed Surendra Bhandari as the new Chief Executive Officer. Now, the bank&rsquo;s deposit is Rs 52 billion while it has loaned out Rs 45 billion. &nbsp;</p>
',
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			'sortorder' => '5893',
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		'Article' => array(
			'id' => '6108',
			'article_category_id' => '1',
			'title' => 'NRN steps up effort in cleaning airport',
			'sub_title' => '',
			'summary' => 'Non Residential Nepalis (NRNs) have launched a campaign to clean up Tribhuvan International Airport (TIA).',
			'content' => '<p>June 30: Non Residential Nepalis (NRNs) have launched a campaign to clean up Tribhuvan International Airport (TIA). During the month-long campaign, NRN will provide training to the employees of the airport as well as cleaning materials. Skilled trainers and technicians from Australia-based Khem&rsquo;s Cleaning Service has been assisting the airport staff in this project.</p>

<p>NRN International Coordination Council&rsquo;s vice president and Nepal Tourism Promotion Committee&rsquo;s Chairman Bhavan Bhatta inaugurated the campaign by handing over the cleaning materials to Director General of Civil Aviation Authority of Nepal Sanjeev Gautam and TIA General Manager Devananda Upadhyay.</p>

<p>Stating that the first impression of foreigners toward Nepal starts once they step their foot on the airport, the NRN said it decided to step up its effort in cleaning the airport to maintain the dignity of the country which regards tourists as &lsquo;gods&rsquo;.</p>

<p>TIA General Manager Upadhyay said that cleanliness is a regular affair and this campaign would bear fruit only if it becomes sustainable. Director General of CAAN Upadhyay admitted that the airport authorities could not maintain proper cleanliness due to excessive number of passengers. He further said that the authorities have been relentless working to maintain the hygiene of the airport and that the collaboration with NRN has helped them in bringing some changes.</p>

<p>Operator of Khem&rsquo;s Cleaning Service, Khem Sharma, said that the outlook of the airport can be changed if they carry out cleanliness drive in a properly managed way.</p>
',
			'published' => true,
			'created' => '2017-06-30',
			'modified' => '2017-06-30',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5892',
			'image' => null,
			'article_date' => '2017-06-30 00:00:00',
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	(int) 11 => array(
		'Article' => array(
			'id' => '6107',
			'article_category_id' => '1',
			'title' => 'Mega Bank Applies for Right Shares',
			'sub_title' => '',
			'summary' => 'Mega Bank has applied for issuance of 65 percent right shares at SEBON.',
			'content' => '<p>June 30: Mega Bank has applied for issuance of 65 percent right shares at SEBON. The bank had decided to issue 65 percent right shares during its last Annual General Meeting.</p>

<p>The bank has asked for the approval for issuing around 29.785 million units of right shares, informed CEO of the bank Anil Keshari Shah.</p>

<p>&nbsp;Nabil Investment Bank will be the issue manager for the issuance of right shares, the bank said in a press statement.</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2017-06-30',
			'modified' => '2017-06-30',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5891',
			'image' => '20170630040241_mega-bank.jpg',
			'article_date' => '2017-06-30 00:00:00',
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	(int) 12 => array(
		'Article' => array(
			'id' => '6106',
			'article_category_id' => '1',
			'title' => '10 New Companies to Open up New Avenues in Insurance Market',
			'sub_title' => '',
			'summary' => 'With 10 new life insurance companies about to hit the market, the overall business of the country as well as the concerned sector is expected to witness some good prospects in the near future.',
			'content' => '<p>June 30: With 10 new life insurance companies about to hit the market, the overall business of the country as well as the concerned sector is expected to witness some good prospects in the near future.</p>

<p>Experts say that this will increase competition among the insurance companies and create more benefits for the policyholders. It is also expected to create more employment opportunities.</p>

<p>According to the Insurance Committee of Nepal, the number of life insurance companies will reach 19 after the additional 10 companies come into operation. Currently, there are nine life insurance companies and 17 non-life insurance companies as well as one reinsurance company in Nepal. However, the committee&#39;s statistics says that only seven per cent of people have access to insurance.</p>

<p>&quot;The statistics have only counted the surrender and more than one policies of each individual. So, the percentage is not more than five percent,&quot; says Ramesh Kumar Bhattarai, Former Executive Officer of Asian Life Insurance. &nbsp;</p>

<p>&nbsp;</p>

<p>The new companies are in the final stage of entering the market. Anticipating tough competition, both the operational life insurance companies as well as the new companies are preparing to come up with attractive policies and packages to woo their clients.</p>

<p>&nbsp;<strong>95 per cent people not insured</strong></p>

<p>According to Ramesh Kumar Bhattarai, former executive officer of Asian Life Insurance, 95 per cent of the total population is still out of reach from insurance.</p>

<p>&quot;This is definitely an opportunity for the insurance companies. So, they should utilise this prospect to increase the market for insurance,&quot; shared Bhatttarai.</p>

<p>According to Bijay Kumar Sarawagi, chairman of Asian Life Insurance, the insurance market has not fostered due to the lack of awareness about insurance among the people. He said that the government&#39;s unfriendly policy towards the insurance sector is one of the reasons that has been hindering the growth of this sector.</p>

<p>Sarawagi said that the government has set the insurance waiver ceiling at Rs 20,000 for income tax, which is very less.</p>

<p>&quot;In India, the waiver ceiling is Rs 100,000,&quot; he said, adding that addressing this problem would definitely help to improve this sector.</p>

<p>The insurance sector also lacks enough human resources. Experts believe that increase in the number of insurance companies will also create employment for many people.</p>

<p><strong>Employment for 27,000 people </strong></p>

<p>According to the operators of insurance companies, one insurance company requires around 200 employees and 2,500 insurance agents. Therefore, around 27,000 people will be required for 10 insurance companies. Sarawagi shared that as this business is dependent on insurance agents, they have a vital role to play in this sector.</p>

<p>&quot;There is no practice of online insurance here so far. So, the people purchase insurance on the basis of trust they build with the agent,&rdquo; he added.</p>

<p>According to the Insurance Committee, there are more than 75,000 insurance agents as of now. There are also quite a few number of passive agents in this sector. Experts say that the new companies entering the market might also bring changes in the passive agents.</p>

<p>Bhattarai said that though there are around 300 BFIs in Nepal, not more than 50 per cent citizens are have access to such institutions.</p>

<p>&nbsp;&nbsp;</p>

<p>&nbsp;</p>
',
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		'Article' => array(
			'id' => '6105',
			'article_category_id' => '1',
			'title' => 'NEHUB organizes meet on business incubation',
			'sub_title' => '',
			'summary' => ' Nepal Entrepreneurs’ Hub (NEHUB) organized the 15th ‘Spark Talk and Meetups’ on June 27 to highlight about the international trend in business incubation.',
			'content' => '<p>June 30: Nepal Entrepreneurs&rsquo; Hub (NEHUB) organized the 15<sup>th</sup> &lsquo;Spark Talk and Meetups&rsquo; on June 27 to highlight about the international trend in business incubation.</p>

<p>Julian Webb, business incubation &lsquo;InfoDev&rsquo; consultant to World Bank and managing director of CREED Projects, shed light on international trends in incubation.</p>

<p>During the first session, the speaker talked about his experience in international trends in incubation. In the presence of important stakeholders from universities, incubation centers, business accelerators and innovation hubs contributing to the entrepreneurial ecosystem of the country, the program shed light on the challenges and opportunities that these institution face whilst operating in Nepal, reads a press statement issued by NEHUB.</p>

<p>&nbsp;&ldquo;We need to get our basics right first and then talk about disruptive innovation that takes place in Silicon Valley. Incubation centers operating in Nepal must capitalize on the opportunities that are already present in Nepal,&rdquo; said &nbsp;Rupesh Krishna Shrestha, assistant professor at Kathmandu University School of Management.&nbsp;</p>

<p>In addition, the programme also focused on discussions including key skill sets for entrepreneurs needed to go for incubation, importance of bootstrapping against venture capitalist in developing nation and importance of university-based incubation center.</p>

<p>&nbsp;</p>
',
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			'created' => '2017-06-30',
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			'keywords' => '',
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			'sortorder' => '5889',
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		'Article' => array(
			'id' => '6104',
			'article_category_id' => '1',
			'title' => 'IRD chief unable to furnish bail',
			'sub_title' => '',
			'summary' => 'June 30: The Commission for the Investigation of Abuse of Authority (CIAA) has demanded a bail amount of Rs 3 billion from Inland Revenue Department’s (IRD) Director General Chudamani Sharma. ',
			'content' => '<p>June 30: The Commission for the Investigation of Abuse of Authority (CIAA) has demanded a bail amount of Rs 3 billion from Inland Revenue Department&rsquo;s (IRD) Director General Chudamani Sharma. According to informed sources, Sharma is unlikely to furnish the bail amount. Sharma is currently under CIAA custody. He was arrested on June 2 for his alleged involvement in abetting various institutions and individuals in avoiding taxes.</p>

<p>CIAA Spokesperson Jeevraj Koirala said that the anti-graft body is preparing to investigate more than 1,000 files related to Sharma. According to him, the CIAA has already studied 125 files after the arrest of Sharma about a month ago. Sources at the CIAA informed that they found irregularities worth Rs 9 billion after studying those files. Investigations carried out so far have revealed Sharma&rsquo;s involvement in helping various people illegally avoid Rs 9 billion in taxes but the sources said the total embezzled amount cannot be ascertained without the completion of the investigations.</p>

<p>Sources said that the CIAA sought bail from Sharma since it would take quite some time for studying all the files.</p>

<p>&ldquo;Although we have asked for the bail, Sharma hasn&rsquo;t been able to submit the amount. &nbsp;He could have stayed away from the cell as long as the investigations are underway,&rdquo; said one of the sources.</p>

<p>Although other government employees at the IRD used to be transferred to various departments from time to time, Sharma had remained the director general of the office for a long period. He has been accused of soliciting support from power centers to remain in the post. Few years ago, the government had formed a tax clearance commission. Sharma was the member secretary of the commission while Lumba Dhwoj Mahat was the coordinator and Umesh Dhakal a member. The CIAA has publicly announced incentives for anyone who gives information regarding the whereabouts of Mahat and Dhakal.</p>

<p>There is a legal provision for the CIAA to keep anyone accused of corruption in prison for six months. However, the CIAA needs to take permission from the Special Court for that purpose. The anti-graft body also has to seek renewal order every month from the Special Court.&nbsp;</p>
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		'Article' => array(
			'id' => '6118',
			'article_category_id' => '1',
			'title' => 'Startups Nepal Organizes Seminar for Young Entrepreneurs',
			'sub_title' => '',
			'summary' => 'Startups Nepal organised a seminar on June 30 with a view to motivate early entrepreneurs and would-be entrepreneurs.  ',
			'content' => '<p>July 3: Startups Nepal organised a seminar on June 30 with a view to motivate early entrepreneurs and would-be entrepreneurs.</p>

<p>The programme, Udyami 101: Basics of Starting a Business, started with the keynote speech from Rudra Pandey, chairman and CEO of Deerwalk Inc. Focusing on his topic &#39;Fundamentals of Being an Entrepreneur&#39;, he mentioned some critical traits which are essential to become an entrepreneur. He shared that being an entrepreneur one must always be desperate to succeed and they must be fully dedicated to their business.</p>

<p>&quot;The entrepreneurs must also be able to handle their finances very well. The second session included panel discussion among Asgar Ali, CEO of eSewa; Bina Shrestha, founder of Shine Cleaning; Anil Shah, CEO of Mega Bank; and Sunayna Tamrakar, investment manager at One to Watch. The session was moderated by Rupesh K Shrestha, co-founder of Idea Studio. The discussion mainly focused on the journey of entrepreneurs, their mistakes and motivation in their journey as well as the prerequisites while running business. The role of banks to help foster the startups was also discussed. &nbsp;&nbsp;</p>

<p>During the programme, few participants from Udhyami Seed Camp-Women&rsquo;s Edition also shared their experiences and things they learnt from the Seed Camp.&nbsp;&nbsp;</p>
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			'keywords' => '',
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			'sortorder' => '5902',
			'image' => '20170703013758_udhyami.jpg',
			'article_date' => '2017-07-03 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 1 => array(
		'Article' => array(
			'id' => '6117',
			'article_category_id' => '1',
			'title' => 'Motivational Grants for Farmers in Parbat',
			'sub_title' => '',
			'summary' => 'Farmers of Parbat have received motivational grants from the Prime Minister’s Agriculture Modernization Project. ',
			'content' => '<p>July 3: Farmers of Parbat have received motivational grants from the Prime Minister&rsquo;s Agriculture Modernization Project. According to the District Agriculture Development Office (DADO), Parbat, the grants were distributed under a project to encourage farmers not to keep their land fallow. This is the first time such project has been initiated in the district. Farmers who planted paddy in the month of Chaitra or the year-end according to the Nepali calendar were provided the amount.</p>

<p>Senior agriculture development officer Basudev Regmi said that the office distributed Rs 100,000 to 400 farmers of Paiyu VDC. The district has a total of 28,600 hectares of cultivable land. Among them, farmers plant paddy annually in 9070 hectares of land while they cultivate seasonal paddy during the year-end in 700 hectares of land.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-03',
			'modified' => '2017-07-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5901',
			'image' => null,
			'article_date' => '2017-07-03 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 2 => array(
		'Article' => array(
			'id' => '6116',
			'article_category_id' => '1',
			'title' => 'Pokhara Metropolis to Provide Late-night Bus Service',
			'sub_title' => '',
			'summary' => 'Tourist hub Pokhara is all set to have late-night public transportation service soon. ',
			'content' => '<p>July 3: Tourist hub Pokhara is all set to have late-night public transportation service soon. Public buses which used to run till seven in the evening will now operate till nine.</p>

<p>The Transportation Management Committee of Pokhara took such decision upon the recommendation of a task force, formed by the committee itself, to address the problems of commuters. For the time being, the committee has decided to select two routes and provide late-night service at the earliest.</p>

<p>A meeting of the task force chaired by its coordinator Anil Shsahi, who is also an administrative officer at the District Administration Office, Kaski on Thursday recommended the concerned authorities to start the service immediately. The task force has identified the two probable routes &ndash; from Halanchowk toKahukhola and Fewa Lake to Birauta &ndash; for the service in the first phase.</p>

<p>At present, there are eight buses under the Pokhara Bus Entrepreneurs Committee plying the roads of the scenic lake city. Among those buses, four buses have been providing services in each of the two routes currently in operation. Each bus starts operating at an interval of half an hour.</p>

<p>For the night bus service, the concerned authorities have decided to provide security service with the help of Nepal Police as well as traffic police.</p>

<p>Increase in number of zebra crossings</p>

<p>With the rise in the number of vehicles in Pokhara-Lekhnath Municipality, the city authorities have started making zebra crossings at many places for the convenience of the pedestrians. Deputy Superintendent of Police Shiva Bahadur Thapa of the District Traffic Police Office, Kaski said that they have set up new zebra crossings in places which remain mostly crowded and they have also started repairing the existing zebra crossings. The metropolis has a target of finishing painting zebra crossings at 159 places. Triveni Construction Service has already started the works since Friday after bagging the contract worth Rs 3.6 million to make the zebra crossings. &nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-03',
			'modified' => '2017-07-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5900',
			'image' => null,
			'article_date' => '2017-07-03 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 3 => array(
		'Article' => array(
			'id' => '6115',
			'article_category_id' => '1',
			'title' => 'ADB Approves USD 150 Million Loan to Improve Power Distribution in Nepal',
			'sub_title' => '',
			'summary' => 'The Asian Development Bank (ADB) has approved a USD150 million loan to help improve the reliability and efficiency of Nepal’s electricity supply and distribution through the Nepal Electricity Authority (NEA). ',
			'content' => '<p>July 2: The Asian Development Bank (ADB) has approved a USD150 million loan to help improve the reliability and efficiency of Nepal&rsquo;s electricity supply and distribution through the Nepal Electricity Authority (NEA).&nbsp;</p>

<p>Issuing a press statement on Friday, ADB said it will also administer a USD 2 million technical assistance grant from the Japan Fund for Poverty Reduction (JFPR) financed by the Government of Japan to strengthen the capacity of Nepal&rsquo;s energy sector to deliver Gender Equality and Social Inclusion (GESI) results.&nbsp;</p>

<p>&ldquo;Reliable and sustainable electricity distribution and service is an important aspect to Nepal&rsquo;s growth and development, as well as in the improvement of the quality of life of all its people,&rdquo; the statement quoted Jiwan Acharya, an ADB senior energy specialist, as saying. &ldquo;We are confident that the project will help improve electricity distribution and efficiency in the country, and significantly support the government&rsquo;s goal of ending the country&rsquo;s energy crisis within the next two years and achieving Sustainable Development Goal 7 (Sustainable Energy for All).&rdquo;&nbsp;</p>

<p>The electricity supplies are expected to increase rapidly during the next several years through various hydropower projects nearing completion and imports from India through cross-border line, the statement further says. Therefore, the existing transmission and distribution systems need to be immediately rehabilitated and upgraded for the network to be able to deliver the additional electricity supplies to consumers.&nbsp;</p>

<p>According to the ADB, the project will enhance the distribution capacity and improve reliability and quality of electricity supply in the Kathmandu Valley by reducing distribution system overloads and technical and commercial losses. This will be done through the strengthening of the transmission grid capacity, increasing capacity and rehabilitating the distribution network in the project area, and enhancing operational and financial performance of NEA distribution centers. The project will also develop NEA&rsquo;s capacity to operate and manage an advanced distribution system and intelligent network (smart grid) technology with GESI aspects in electricity access and end-user awareness programs.&nbsp;</p>

<p>Kathmandu Valley, the main project area, accounts for about 400,000 end-users of electricity or about 16 percent&nbsp;of NEA&rsquo;s total consumers in Nepal, according to the statement.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-02',
			'modified' => '2017-07-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5899',
			'image' => '20170702045803_ADB.jpg',
			'article_date' => '2017-07-02 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 4 => array(
		'Article' => array(
			'id' => '6114',
			'article_category_id' => '1',
			'title' => 'Ncell Expands 4G/LTE Service in Pokhara and Damauli',
			'sub_title' => '',
			'summary' => 'Ncell has started fourth generation (4G)/long term evolution (LTE) service for its customers in Pokhara and Damauli since Saturday. ',
			'content' => '<p>July 2: Ncell has started fourth generation (4G)/long term evolution (LTE) service for its customers in Pokhara and Damauli since Saturday. Issuing a press statement, the telecom giant said it has expanded the service to western cities, including Pokhara and Damauli, as a part of its plan to make 4G accessible to 15% of population within 2017. &nbsp;</p>

<p>&quot;Ncell is committed to deliver on our promise to swiftly expand 4G service, so that the people could reap the benefits and country remains abreast in adoption of new technology. We are happy to officially launch the service to Pokhara and Damauli, as we announced earlier,&quot; said Milan Sharma, corporate communications expert at Ncell.</p>

<p>&nbsp;</p>

<p>With the launch, all Ncell subscribers of Pokhara and Damauli, who possess 4G SIM (U-SIM) with 4G compatible handset, are able to experience high speed mobile broadband connectivity. Customers who still have not changed their SIM to 4G SIM can easily upgrade the 4G SIM free of charges by visiting nearby Ncell Center or new customers can subscribe SIM to enjoy faster and higher quality of mobile broadband, reads the statement.</p>

<p>In the first phase, Ncell 4G was launched in Kathmandu Valley including in Nagarkot, and Banepa and Dhulikhel on June 1. The company has a target to take 4G service in 15 cities across the country by the end of this year.</p>

<p>&ldquo;With the launch of the 4G in Pokhara and Damauli, we will be covering a total of 10.3% population of the country with the high speed mobile broadband, while work is also underway to double 3G coverage to 60% papulation focusing rural and remote areas by 2018,&rdquo; said Sharma.</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-02',
			'modified' => '2017-07-02',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5898',
			'image' => '20170702040125_Ncell-brand-logo.jpg',
			'article_date' => '2017-07-02 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 5 => array(
		'Article' => array(
			'id' => '6113',
			'article_category_id' => '1',
			'title' => 'Construction of 8 Mega Cities to Begin from Next FY',
			'sub_title' => '',
			'summary' => 'The government is planning to prepare the detailed project reports (DPR) of the proposed eight mega cities in different parts of the country, including Kathmandu, in the upcoming fiscal year 2017/18.',
			'content' => '<p>July 2: The government is planning to prepare the detailed project reports (DPR) of the proposed eight mega cities in different parts of the country, including Kathmandu, in the upcoming fiscal year 2017/18.</p>

<p>The feasibility study for the mega cities has already been conducted in all the seven provinces.</p>

<p>The Ministry of Urban Development (MoUD) had developed the concept of mega cities in different parts of the country with a view to develop infrastructures in every province in the new federal setup.</p>

<p>According to Joint Secretary Ramesh Prasad Singh, spokesperson of MoUD, necessary homework has already been started for the construction of mega cities in the selected areas.</p>

<p>&ldquo;We are preparing our work plan in order to start the construction of mega cities formally from the upcoming fiscal year,&rdquo; he said.</p>

<p>He further informed that the feasibility reports of the cities are ready and the ministry is planning to start the works as per the DPR from the upcoming FY. MoUD has estimated a budget of at least Rs 5 billion for the development of even a simple urban infrastructure in one mega city.</p>

<p>Singh added that it would cost at least Rs five million for the detailed engineering works of one city. The mega cities will be built under the land-pulling system. However, Singh said that there will be lots of hassles to adopt the system in many areas.</p>

<p>The idea of mega cities was popularized by political parties in their manifestos and it holds great public interest.</p>

<p>The government is planning to build mega cities along the corridors of Dharan-Biratnagar, Janakpur-Dhalkebar-Bardibas, Pokhara (Lekhnath)-Dulegauda, Siddharthanagar-Butwal (Lumbini), Nepalgunj-Kohalpur, Birendranagar (Surkhet)-Dashrakshya Bridge-Chinchu and Mahendranagar-Dhangadhi-Attariya as well as in &nbsp;Kathmandu.</p>

<p>The ministry has a target to develop basic physical infrastructures in these mega cities within 10 years.</p>

<p>The mega cities are expected to ease the rapid urbanization of current cities of the country and would also help in reducing migration as well as support uniform development of all regions of the country.</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-02',
			'modified' => '2017-07-02',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5897',
			'image' => null,
			'article_date' => '2017-07-02 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 6 => array(
		'Article' => array(
			'id' => '6112',
			'article_category_id' => '1',
			'title' => 'Om Development Bank opens Branch at Arghau',
			'sub_title' => '',
			'summary' => 'Om Development Bank has opened its branch at Arghau of Lekhnath Municipality in Kaski district.',
			'content' => '<p>July 2: Om Development Bank has opened its branch at Arghau of Lekhnath Municipality in Kaski district.</p>

<p>Mayor Man Bahadur GC of Pokhara-Lekhnath Metropolis inaugurated the branch amid a program on June 30.</p>

<p>During the occasion, the bank also provided scholarships to students of Laxmi Secondary School, Lekhnath and fans to Srijana Deaf Boarding&nbsp; School, Lekhnath.</p>

<p>After acquiring Manaslu Development Bank on June 16, the bank&#39;s paid-up capital has reached Rs 1.65 billion, deposit to Rs 15.40 billion and loan Rs 13.80 billion, informed the bank&rsquo;s CEO Bishwo Mohan Adhikari.</p>
',
			'published' => true,
			'created' => '2017-07-02',
			'modified' => '2017-07-04',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5896',
			'image' => '20170703040052_download.jpg',
			'article_date' => '2017-07-02 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 7 => array(
		'Article' => array(
			'id' => '6111',
			'article_category_id' => '1',
			'title' => 'Deva Development Bank Opens Branch at Madi',
			'sub_title' => '',
			'summary' => 'Deva Bikas Bank (DBB) has opened a new branch at Madi-3, Basantapur in Chitwan district.',
			'content' => '<p>July 2: Deva Bikas Bank (DBB) has opened a new branch at Madi-3, Basantapur in Chitwan district.</p>

<p>The branch was inaugurated by Chintamani Shiwakoti, deputy governor of NRB, amid a program on June 30.</p>

<p>Bijay Bahadur Shrestha, CEO of the bank, said that the bank will play an active role in contributing to the economic development of Madi, Chitwan.</p>

<p>So far, the bank has collected Rs 10 billion deposit and provided Rs 9.39 billion loan, informed Shrestha.</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-02',
			'modified' => '2017-07-04',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5895',
			'image' => '20170703040303_Dev.JPG',
			'article_date' => '2017-07-02 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 8 => array(
		'Article' => array(
			'id' => '6110',
			'article_category_id' => '1',
			'title' => 'ICFC Opens Branch in Chitwan',
			'sub_title' => '',
			'summary' => 'ICFC Finance has opened its branch at Jyotinagar of Chitwan district.',
			'content' => '<p>July 2: ICFC Finance has opened its branch at Jyotinagar of Chitwan district.</p>

<p>Sunil Panta, CEO of the bank, inaugurated the branch amid a program held on June 30.</p>

<p>With the addition, the bank is now providing financial services from 15 branches, one extension counter and 12 outlets. The bank is also planning to open its branch at Narayanghat in Chitwan in the near future.</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-02',
			'modified' => '2017-07-02',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5894',
			'image' => '20170702021232_logo.jpg',
			'article_date' => '2017-07-02 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 9 => array(
		'Article' => array(
			'id' => '6109',
			'article_category_id' => '1',
			'title' => 'NRB to Take Action Against BFIs Which do not Meet the Paid-up Capital Requirement',
			'sub_title' => '',
			'summary' => 'Nepal Rastra Bank (NRB) has warned banks and financial institutions (BFIs) of stern action if they fail to meet the paid-up capital requirement by mid-July. ',
			'content' => '<p>July 2: Nepal Rastra Bank (NRB) has warned banks and financial institutions (BFIs) of stern action if they fail to meet the paid-up capital requirement by mid-July. The central bank has said it will put a hold on cash dividends, bonus distribution, deposits, loan ceiling and opening of new branches of those BFIs which do not comply with its directives. Two years ago, the NRB had brought a new monetary policy under which all commercial banks were asked to increase the minimum paid-up capital from Rs 2 billion to Rs 8 billion by mid-July 2017.</p>

<p>NRB&rsquo;s Spokesperson Narayan Prasad Poudel issued such warning at a function organized by Kumari Bank to mark the beginning of its integrated transaction service on Friday after acquisition of three development banks and one financial institution.</p>

<p>According to Poudel, merger and acquisition has reduced the number of BFIs from 150 to 46 so far.</p>

<p>Speaking at the function, Governor of NRB Dr Chiranjivi Nepal said that the International Monetary Fund and the World Bank had suggested to the central bank eight years ago to increase the paid-up capital and the implementation of the plan has now become successful. &nbsp;</p>

<p>Governor Nepal said that the new ceiling of paid-up capital set by the central bank will help in improving the overall banking system of Nepal in the coming days. The new measures taken by the NRB has made large-scale investment possible, argued Governor Nepal.</p>

<p>&ldquo;Now, we don&rsquo;t have to depend solely upon donor agencies for large-scale investment,&rdquo; he said, adding, &ldquo;Banks and financial institutions will now have plenty of capital.&rdquo;</p>

<p>Governor Nepal also drew the attention of all stakeholders to expand the network of banking sector to various parts of the country since only 240 local units out of the total 744 units in the new federal setup have banking service.</p>

<p>Kumari Bank has started integrated transaction service since Friday after acquiring Kasthamandap Development Bank, Mahakali Bikas Bank, Kakrebhir Bikas Bank and Paschimacnhal Finance. Kumari Bank&rsquo;s operator Dr Shobhakant Dhakal said that the bank is still short of Rs 590 million to meet the paid-up capital requirement of Rs 8 billion even after acquiring the four new BFIs. Dhakal informed that the bank would meet the requirement by providing only 20 percent share bonus in the current fiscal year.</p>

<p>After the merger, Kumari Bank has appointed Surendra Bhandari as the new Chief Executive Officer. Now, the bank&rsquo;s deposit is Rs 52 billion while it has loaned out Rs 45 billion. &nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-02',
			'modified' => '2017-07-02',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5893',
			'image' => null,
			'article_date' => '2017-07-02 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 10 => array(
		'Article' => array(
			'id' => '6108',
			'article_category_id' => '1',
			'title' => 'NRN steps up effort in cleaning airport',
			'sub_title' => '',
			'summary' => 'Non Residential Nepalis (NRNs) have launched a campaign to clean up Tribhuvan International Airport (TIA).',
			'content' => '<p>June 30: Non Residential Nepalis (NRNs) have launched a campaign to clean up Tribhuvan International Airport (TIA). During the month-long campaign, NRN will provide training to the employees of the airport as well as cleaning materials. Skilled trainers and technicians from Australia-based Khem&rsquo;s Cleaning Service has been assisting the airport staff in this project.</p>

<p>NRN International Coordination Council&rsquo;s vice president and Nepal Tourism Promotion Committee&rsquo;s Chairman Bhavan Bhatta inaugurated the campaign by handing over the cleaning materials to Director General of Civil Aviation Authority of Nepal Sanjeev Gautam and TIA General Manager Devananda Upadhyay.</p>

<p>Stating that the first impression of foreigners toward Nepal starts once they step their foot on the airport, the NRN said it decided to step up its effort in cleaning the airport to maintain the dignity of the country which regards tourists as &lsquo;gods&rsquo;.</p>

<p>TIA General Manager Upadhyay said that cleanliness is a regular affair and this campaign would bear fruit only if it becomes sustainable. Director General of CAAN Upadhyay admitted that the airport authorities could not maintain proper cleanliness due to excessive number of passengers. He further said that the authorities have been relentless working to maintain the hygiene of the airport and that the collaboration with NRN has helped them in bringing some changes.</p>

<p>Operator of Khem&rsquo;s Cleaning Service, Khem Sharma, said that the outlook of the airport can be changed if they carry out cleanliness drive in a properly managed way.</p>
',
			'published' => true,
			'created' => '2017-06-30',
			'modified' => '2017-06-30',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5892',
			'image' => null,
			'article_date' => '2017-06-30 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 11 => array(
		'Article' => array(
			'id' => '6107',
			'article_category_id' => '1',
			'title' => 'Mega Bank Applies for Right Shares',
			'sub_title' => '',
			'summary' => 'Mega Bank has applied for issuance of 65 percent right shares at SEBON.',
			'content' => '<p>June 30: Mega Bank has applied for issuance of 65 percent right shares at SEBON. The bank had decided to issue 65 percent right shares during its last Annual General Meeting.</p>

<p>The bank has asked for the approval for issuing around 29.785 million units of right shares, informed CEO of the bank Anil Keshari Shah.</p>

<p>&nbsp;Nabil Investment Bank will be the issue manager for the issuance of right shares, the bank said in a press statement.</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2017-06-30',
			'modified' => '2017-06-30',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5891',
			'image' => '20170630040241_mega-bank.jpg',
			'article_date' => '2017-06-30 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 12 => array(
		'Article' => array(
			'id' => '6106',
			'article_category_id' => '1',
			'title' => '10 New Companies to Open up New Avenues in Insurance Market',
			'sub_title' => '',
			'summary' => 'With 10 new life insurance companies about to hit the market, the overall business of the country as well as the concerned sector is expected to witness some good prospects in the near future.',
			'content' => '<p>June 30: With 10 new life insurance companies about to hit the market, the overall business of the country as well as the concerned sector is expected to witness some good prospects in the near future.</p>

<p>Experts say that this will increase competition among the insurance companies and create more benefits for the policyholders. It is also expected to create more employment opportunities.</p>

<p>According to the Insurance Committee of Nepal, the number of life insurance companies will reach 19 after the additional 10 companies come into operation. Currently, there are nine life insurance companies and 17 non-life insurance companies as well as one reinsurance company in Nepal. However, the committee&#39;s statistics says that only seven per cent of people have access to insurance.</p>

<p>&quot;The statistics have only counted the surrender and more than one policies of each individual. So, the percentage is not more than five percent,&quot; says Ramesh Kumar Bhattarai, Former Executive Officer of Asian Life Insurance. &nbsp;</p>

<p>&nbsp;</p>

<p>The new companies are in the final stage of entering the market. Anticipating tough competition, both the operational life insurance companies as well as the new companies are preparing to come up with attractive policies and packages to woo their clients.</p>

<p>&nbsp;<strong>95 per cent people not insured</strong></p>

<p>According to Ramesh Kumar Bhattarai, former executive officer of Asian Life Insurance, 95 per cent of the total population is still out of reach from insurance.</p>

<p>&quot;This is definitely an opportunity for the insurance companies. So, they should utilise this prospect to increase the market for insurance,&quot; shared Bhatttarai.</p>

<p>According to Bijay Kumar Sarawagi, chairman of Asian Life Insurance, the insurance market has not fostered due to the lack of awareness about insurance among the people. He said that the government&#39;s unfriendly policy towards the insurance sector is one of the reasons that has been hindering the growth of this sector.</p>

<p>Sarawagi said that the government has set the insurance waiver ceiling at Rs 20,000 for income tax, which is very less.</p>

<p>&quot;In India, the waiver ceiling is Rs 100,000,&quot; he said, adding that addressing this problem would definitely help to improve this sector.</p>

<p>The insurance sector also lacks enough human resources. Experts believe that increase in the number of insurance companies will also create employment for many people.</p>

<p><strong>Employment for 27,000 people </strong></p>

<p>According to the operators of insurance companies, one insurance company requires around 200 employees and 2,500 insurance agents. Therefore, around 27,000 people will be required for 10 insurance companies. Sarawagi shared that as this business is dependent on insurance agents, they have a vital role to play in this sector.</p>

<p>&quot;There is no practice of online insurance here so far. So, the people purchase insurance on the basis of trust they build with the agent,&rdquo; he added.</p>

<p>According to the Insurance Committee, there are more than 75,000 insurance agents as of now. There are also quite a few number of passive agents in this sector. Experts say that the new companies entering the market might also bring changes in the passive agents.</p>

<p>Bhattarai said that though there are around 300 BFIs in Nepal, not more than 50 per cent citizens are have access to such institutions.</p>

<p>&nbsp;&nbsp;</p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '6105',
			'article_category_id' => '1',
			'title' => 'NEHUB organizes meet on business incubation',
			'sub_title' => '',
			'summary' => ' Nepal Entrepreneurs’ Hub (NEHUB) organized the 15th ‘Spark Talk and Meetups’ on June 27 to highlight about the international trend in business incubation.',
			'content' => '<p>June 30: Nepal Entrepreneurs&rsquo; Hub (NEHUB) organized the 15<sup>th</sup> &lsquo;Spark Talk and Meetups&rsquo; on June 27 to highlight about the international trend in business incubation.</p>

<p>Julian Webb, business incubation &lsquo;InfoDev&rsquo; consultant to World Bank and managing director of CREED Projects, shed light on international trends in incubation.</p>

<p>During the first session, the speaker talked about his experience in international trends in incubation. In the presence of important stakeholders from universities, incubation centers, business accelerators and innovation hubs contributing to the entrepreneurial ecosystem of the country, the program shed light on the challenges and opportunities that these institution face whilst operating in Nepal, reads a press statement issued by NEHUB.</p>

<p>&nbsp;&ldquo;We need to get our basics right first and then talk about disruptive innovation that takes place in Silicon Valley. Incubation centers operating in Nepal must capitalize on the opportunities that are already present in Nepal,&rdquo; said &nbsp;Rupesh Krishna Shrestha, assistant professor at Kathmandu University School of Management.&nbsp;</p>

<p>In addition, the programme also focused on discussions including key skill sets for entrepreneurs needed to go for incubation, importance of bootstrapping against venture capitalist in developing nation and importance of university-based incubation center.</p>

<p>&nbsp;</p>
',
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			'sortorder' => '5889',
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		'Article' => array(
			'id' => '6104',
			'article_category_id' => '1',
			'title' => 'IRD chief unable to furnish bail',
			'sub_title' => '',
			'summary' => 'June 30: The Commission for the Investigation of Abuse of Authority (CIAA) has demanded a bail amount of Rs 3 billion from Inland Revenue Department’s (IRD) Director General Chudamani Sharma. ',
			'content' => '<p>June 30: The Commission for the Investigation of Abuse of Authority (CIAA) has demanded a bail amount of Rs 3 billion from Inland Revenue Department&rsquo;s (IRD) Director General Chudamani Sharma. According to informed sources, Sharma is unlikely to furnish the bail amount. Sharma is currently under CIAA custody. He was arrested on June 2 for his alleged involvement in abetting various institutions and individuals in avoiding taxes.</p>

<p>CIAA Spokesperson Jeevraj Koirala said that the anti-graft body is preparing to investigate more than 1,000 files related to Sharma. According to him, the CIAA has already studied 125 files after the arrest of Sharma about a month ago. Sources at the CIAA informed that they found irregularities worth Rs 9 billion after studying those files. Investigations carried out so far have revealed Sharma&rsquo;s involvement in helping various people illegally avoid Rs 9 billion in taxes but the sources said the total embezzled amount cannot be ascertained without the completion of the investigations.</p>

<p>Sources said that the CIAA sought bail from Sharma since it would take quite some time for studying all the files.</p>

<p>&ldquo;Although we have asked for the bail, Sharma hasn&rsquo;t been able to submit the amount. &nbsp;He could have stayed away from the cell as long as the investigations are underway,&rdquo; said one of the sources.</p>

<p>Although other government employees at the IRD used to be transferred to various departments from time to time, Sharma had remained the director general of the office for a long period. He has been accused of soliciting support from power centers to remain in the post. Few years ago, the government had formed a tax clearance commission. Sharma was the member secretary of the commission while Lumba Dhwoj Mahat was the coordinator and Umesh Dhakal a member. The CIAA has publicly announced incentives for anyone who gives information regarding the whereabouts of Mahat and Dhakal.</p>

<p>There is a legal provision for the CIAA to keep anyone accused of corruption in prison for six months. However, the CIAA needs to take permission from the Special Court for that purpose. The anti-graft body also has to seek renewal order every month from the Special Court.&nbsp;</p>
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		'Article' => array(
			'id' => '6118',
			'article_category_id' => '1',
			'title' => 'Startups Nepal Organizes Seminar for Young Entrepreneurs',
			'sub_title' => '',
			'summary' => 'Startups Nepal organised a seminar on June 30 with a view to motivate early entrepreneurs and would-be entrepreneurs.  ',
			'content' => '<p>July 3: Startups Nepal organised a seminar on June 30 with a view to motivate early entrepreneurs and would-be entrepreneurs.</p>

<p>The programme, Udyami 101: Basics of Starting a Business, started with the keynote speech from Rudra Pandey, chairman and CEO of Deerwalk Inc. Focusing on his topic &#39;Fundamentals of Being an Entrepreneur&#39;, he mentioned some critical traits which are essential to become an entrepreneur. He shared that being an entrepreneur one must always be desperate to succeed and they must be fully dedicated to their business.</p>

<p>&quot;The entrepreneurs must also be able to handle their finances very well. The second session included panel discussion among Asgar Ali, CEO of eSewa; Bina Shrestha, founder of Shine Cleaning; Anil Shah, CEO of Mega Bank; and Sunayna Tamrakar, investment manager at One to Watch. The session was moderated by Rupesh K Shrestha, co-founder of Idea Studio. The discussion mainly focused on the journey of entrepreneurs, their mistakes and motivation in their journey as well as the prerequisites while running business. The role of banks to help foster the startups was also discussed. &nbsp;&nbsp;</p>

<p>During the programme, few participants from Udhyami Seed Camp-Women&rsquo;s Edition also shared their experiences and things they learnt from the Seed Camp.&nbsp;&nbsp;</p>
',
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			'created' => '2017-07-03',
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			'sortorder' => '5902',
			'image' => '20170703013758_udhyami.jpg',
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		'Article' => array(
			'id' => '6117',
			'article_category_id' => '1',
			'title' => 'Motivational Grants for Farmers in Parbat',
			'sub_title' => '',
			'summary' => 'Farmers of Parbat have received motivational grants from the Prime Minister’s Agriculture Modernization Project. ',
			'content' => '<p>July 3: Farmers of Parbat have received motivational grants from the Prime Minister&rsquo;s Agriculture Modernization Project. According to the District Agriculture Development Office (DADO), Parbat, the grants were distributed under a project to encourage farmers not to keep their land fallow. This is the first time such project has been initiated in the district. Farmers who planted paddy in the month of Chaitra or the year-end according to the Nepali calendar were provided the amount.</p>

<p>Senior agriculture development officer Basudev Regmi said that the office distributed Rs 100,000 to 400 farmers of Paiyu VDC. The district has a total of 28,600 hectares of cultivable land. Among them, farmers plant paddy annually in 9070 hectares of land while they cultivate seasonal paddy during the year-end in 700 hectares of land.&nbsp;</p>
',
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			'created' => '2017-07-03',
			'modified' => '2017-07-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5901',
			'image' => null,
			'article_date' => '2017-07-03 00:00:00',
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		'Article' => array(
			'id' => '6116',
			'article_category_id' => '1',
			'title' => 'Pokhara Metropolis to Provide Late-night Bus Service',
			'sub_title' => '',
			'summary' => 'Tourist hub Pokhara is all set to have late-night public transportation service soon. ',
			'content' => '<p>July 3: Tourist hub Pokhara is all set to have late-night public transportation service soon. Public buses which used to run till seven in the evening will now operate till nine.</p>

<p>The Transportation Management Committee of Pokhara took such decision upon the recommendation of a task force, formed by the committee itself, to address the problems of commuters. For the time being, the committee has decided to select two routes and provide late-night service at the earliest.</p>

<p>A meeting of the task force chaired by its coordinator Anil Shsahi, who is also an administrative officer at the District Administration Office, Kaski on Thursday recommended the concerned authorities to start the service immediately. The task force has identified the two probable routes &ndash; from Halanchowk toKahukhola and Fewa Lake to Birauta &ndash; for the service in the first phase.</p>

<p>At present, there are eight buses under the Pokhara Bus Entrepreneurs Committee plying the roads of the scenic lake city. Among those buses, four buses have been providing services in each of the two routes currently in operation. Each bus starts operating at an interval of half an hour.</p>

<p>For the night bus service, the concerned authorities have decided to provide security service with the help of Nepal Police as well as traffic police.</p>

<p>Increase in number of zebra crossings</p>

<p>With the rise in the number of vehicles in Pokhara-Lekhnath Municipality, the city authorities have started making zebra crossings at many places for the convenience of the pedestrians. Deputy Superintendent of Police Shiva Bahadur Thapa of the District Traffic Police Office, Kaski said that they have set up new zebra crossings in places which remain mostly crowded and they have also started repairing the existing zebra crossings. The metropolis has a target of finishing painting zebra crossings at 159 places. Triveni Construction Service has already started the works since Friday after bagging the contract worth Rs 3.6 million to make the zebra crossings. &nbsp;</p>
',
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			'created' => '2017-07-03',
			'modified' => '2017-07-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5900',
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		'Article' => array(
			'id' => '6115',
			'article_category_id' => '1',
			'title' => 'ADB Approves USD 150 Million Loan to Improve Power Distribution in Nepal',
			'sub_title' => '',
			'summary' => 'The Asian Development Bank (ADB) has approved a USD150 million loan to help improve the reliability and efficiency of Nepal’s electricity supply and distribution through the Nepal Electricity Authority (NEA). ',
			'content' => '<p>July 2: The Asian Development Bank (ADB) has approved a USD150 million loan to help improve the reliability and efficiency of Nepal&rsquo;s electricity supply and distribution through the Nepal Electricity Authority (NEA).&nbsp;</p>

<p>Issuing a press statement on Friday, ADB said it will also administer a USD 2 million technical assistance grant from the Japan Fund for Poverty Reduction (JFPR) financed by the Government of Japan to strengthen the capacity of Nepal&rsquo;s energy sector to deliver Gender Equality and Social Inclusion (GESI) results.&nbsp;</p>

<p>&ldquo;Reliable and sustainable electricity distribution and service is an important aspect to Nepal&rsquo;s growth and development, as well as in the improvement of the quality of life of all its people,&rdquo; the statement quoted Jiwan Acharya, an ADB senior energy specialist, as saying. &ldquo;We are confident that the project will help improve electricity distribution and efficiency in the country, and significantly support the government&rsquo;s goal of ending the country&rsquo;s energy crisis within the next two years and achieving Sustainable Development Goal 7 (Sustainable Energy for All).&rdquo;&nbsp;</p>

<p>The electricity supplies are expected to increase rapidly during the next several years through various hydropower projects nearing completion and imports from India through cross-border line, the statement further says. Therefore, the existing transmission and distribution systems need to be immediately rehabilitated and upgraded for the network to be able to deliver the additional electricity supplies to consumers.&nbsp;</p>

<p>According to the ADB, the project will enhance the distribution capacity and improve reliability and quality of electricity supply in the Kathmandu Valley by reducing distribution system overloads and technical and commercial losses. This will be done through the strengthening of the transmission grid capacity, increasing capacity and rehabilitating the distribution network in the project area, and enhancing operational and financial performance of NEA distribution centers. The project will also develop NEA&rsquo;s capacity to operate and manage an advanced distribution system and intelligent network (smart grid) technology with GESI aspects in electricity access and end-user awareness programs.&nbsp;</p>

<p>Kathmandu Valley, the main project area, accounts for about 400,000 end-users of electricity or about 16 percent&nbsp;of NEA&rsquo;s total consumers in Nepal, according to the statement.&nbsp;</p>
',
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			'created' => '2017-07-02',
			'modified' => '2017-07-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5899',
			'image' => '20170702045803_ADB.jpg',
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		'Article' => array(
			'id' => '6114',
			'article_category_id' => '1',
			'title' => 'Ncell Expands 4G/LTE Service in Pokhara and Damauli',
			'sub_title' => '',
			'summary' => 'Ncell has started fourth generation (4G)/long term evolution (LTE) service for its customers in Pokhara and Damauli since Saturday. ',
			'content' => '<p>July 2: Ncell has started fourth generation (4G)/long term evolution (LTE) service for its customers in Pokhara and Damauli since Saturday. Issuing a press statement, the telecom giant said it has expanded the service to western cities, including Pokhara and Damauli, as a part of its plan to make 4G accessible to 15% of population within 2017. &nbsp;</p>

<p>&quot;Ncell is committed to deliver on our promise to swiftly expand 4G service, so that the people could reap the benefits and country remains abreast in adoption of new technology. We are happy to officially launch the service to Pokhara and Damauli, as we announced earlier,&quot; said Milan Sharma, corporate communications expert at Ncell.</p>

<p>&nbsp;</p>

<p>With the launch, all Ncell subscribers of Pokhara and Damauli, who possess 4G SIM (U-SIM) with 4G compatible handset, are able to experience high speed mobile broadband connectivity. Customers who still have not changed their SIM to 4G SIM can easily upgrade the 4G SIM free of charges by visiting nearby Ncell Center or new customers can subscribe SIM to enjoy faster and higher quality of mobile broadband, reads the statement.</p>

<p>In the first phase, Ncell 4G was launched in Kathmandu Valley including in Nagarkot, and Banepa and Dhulikhel on June 1. The company has a target to take 4G service in 15 cities across the country by the end of this year.</p>

<p>&ldquo;With the launch of the 4G in Pokhara and Damauli, we will be covering a total of 10.3% population of the country with the high speed mobile broadband, while work is also underway to double 3G coverage to 60% papulation focusing rural and remote areas by 2018,&rdquo; said Sharma.</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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			'created' => '2017-07-02',
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			'keywords' => '',
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			'sortorder' => '5898',
			'image' => '20170702040125_Ncell-brand-logo.jpg',
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		'Article' => array(
			'id' => '6113',
			'article_category_id' => '1',
			'title' => 'Construction of 8 Mega Cities to Begin from Next FY',
			'sub_title' => '',
			'summary' => 'The government is planning to prepare the detailed project reports (DPR) of the proposed eight mega cities in different parts of the country, including Kathmandu, in the upcoming fiscal year 2017/18.',
			'content' => '<p>July 2: The government is planning to prepare the detailed project reports (DPR) of the proposed eight mega cities in different parts of the country, including Kathmandu, in the upcoming fiscal year 2017/18.</p>

<p>The feasibility study for the mega cities has already been conducted in all the seven provinces.</p>

<p>The Ministry of Urban Development (MoUD) had developed the concept of mega cities in different parts of the country with a view to develop infrastructures in every province in the new federal setup.</p>

<p>According to Joint Secretary Ramesh Prasad Singh, spokesperson of MoUD, necessary homework has already been started for the construction of mega cities in the selected areas.</p>

<p>&ldquo;We are preparing our work plan in order to start the construction of mega cities formally from the upcoming fiscal year,&rdquo; he said.</p>

<p>He further informed that the feasibility reports of the cities are ready and the ministry is planning to start the works as per the DPR from the upcoming FY. MoUD has estimated a budget of at least Rs 5 billion for the development of even a simple urban infrastructure in one mega city.</p>

<p>Singh added that it would cost at least Rs five million for the detailed engineering works of one city. The mega cities will be built under the land-pulling system. However, Singh said that there will be lots of hassles to adopt the system in many areas.</p>

<p>The idea of mega cities was popularized by political parties in their manifestos and it holds great public interest.</p>

<p>The government is planning to build mega cities along the corridors of Dharan-Biratnagar, Janakpur-Dhalkebar-Bardibas, Pokhara (Lekhnath)-Dulegauda, Siddharthanagar-Butwal (Lumbini), Nepalgunj-Kohalpur, Birendranagar (Surkhet)-Dashrakshya Bridge-Chinchu and Mahendranagar-Dhangadhi-Attariya as well as in &nbsp;Kathmandu.</p>

<p>The ministry has a target to develop basic physical infrastructures in these mega cities within 10 years.</p>

<p>The mega cities are expected to ease the rapid urbanization of current cities of the country and would also help in reducing migration as well as support uniform development of all regions of the country.</p>

<p>&nbsp;</p>
',
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	(int) 6 => array(
		'Article' => array(
			'id' => '6112',
			'article_category_id' => '1',
			'title' => 'Om Development Bank opens Branch at Arghau',
			'sub_title' => '',
			'summary' => 'Om Development Bank has opened its branch at Arghau of Lekhnath Municipality in Kaski district.',
			'content' => '<p>July 2: Om Development Bank has opened its branch at Arghau of Lekhnath Municipality in Kaski district.</p>

<p>Mayor Man Bahadur GC of Pokhara-Lekhnath Metropolis inaugurated the branch amid a program on June 30.</p>

<p>During the occasion, the bank also provided scholarships to students of Laxmi Secondary School, Lekhnath and fans to Srijana Deaf Boarding&nbsp; School, Lekhnath.</p>

<p>After acquiring Manaslu Development Bank on June 16, the bank&#39;s paid-up capital has reached Rs 1.65 billion, deposit to Rs 15.40 billion and loan Rs 13.80 billion, informed the bank&rsquo;s CEO Bishwo Mohan Adhikari.</p>
',
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			'created' => '2017-07-02',
			'modified' => '2017-07-04',
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			'sortorder' => '5896',
			'image' => '20170703040052_download.jpg',
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	(int) 7 => array(
		'Article' => array(
			'id' => '6111',
			'article_category_id' => '1',
			'title' => 'Deva Development Bank Opens Branch at Madi',
			'sub_title' => '',
			'summary' => 'Deva Bikas Bank (DBB) has opened a new branch at Madi-3, Basantapur in Chitwan district.',
			'content' => '<p>July 2: Deva Bikas Bank (DBB) has opened a new branch at Madi-3, Basantapur in Chitwan district.</p>

<p>The branch was inaugurated by Chintamani Shiwakoti, deputy governor of NRB, amid a program on June 30.</p>

<p>Bijay Bahadur Shrestha, CEO of the bank, said that the bank will play an active role in contributing to the economic development of Madi, Chitwan.</p>

<p>So far, the bank has collected Rs 10 billion deposit and provided Rs 9.39 billion loan, informed Shrestha.</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-02',
			'modified' => '2017-07-04',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5895',
			'image' => '20170703040303_Dev.JPG',
			'article_date' => '2017-07-02 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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	),
	(int) 8 => array(
		'Article' => array(
			'id' => '6110',
			'article_category_id' => '1',
			'title' => 'ICFC Opens Branch in Chitwan',
			'sub_title' => '',
			'summary' => 'ICFC Finance has opened its branch at Jyotinagar of Chitwan district.',
			'content' => '<p>July 2: ICFC Finance has opened its branch at Jyotinagar of Chitwan district.</p>

<p>Sunil Panta, CEO of the bank, inaugurated the branch amid a program held on June 30.</p>

<p>With the addition, the bank is now providing financial services from 15 branches, one extension counter and 12 outlets. The bank is also planning to open its branch at Narayanghat in Chitwan in the near future.</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-02',
			'modified' => '2017-07-02',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5894',
			'image' => '20170702021232_logo.jpg',
			'article_date' => '2017-07-02 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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	(int) 9 => array(
		'Article' => array(
			'id' => '6109',
			'article_category_id' => '1',
			'title' => 'NRB to Take Action Against BFIs Which do not Meet the Paid-up Capital Requirement',
			'sub_title' => '',
			'summary' => 'Nepal Rastra Bank (NRB) has warned banks and financial institutions (BFIs) of stern action if they fail to meet the paid-up capital requirement by mid-July. ',
			'content' => '<p>July 2: Nepal Rastra Bank (NRB) has warned banks and financial institutions (BFIs) of stern action if they fail to meet the paid-up capital requirement by mid-July. The central bank has said it will put a hold on cash dividends, bonus distribution, deposits, loan ceiling and opening of new branches of those BFIs which do not comply with its directives. Two years ago, the NRB had brought a new monetary policy under which all commercial banks were asked to increase the minimum paid-up capital from Rs 2 billion to Rs 8 billion by mid-July 2017.</p>

<p>NRB&rsquo;s Spokesperson Narayan Prasad Poudel issued such warning at a function organized by Kumari Bank to mark the beginning of its integrated transaction service on Friday after acquisition of three development banks and one financial institution.</p>

<p>According to Poudel, merger and acquisition has reduced the number of BFIs from 150 to 46 so far.</p>

<p>Speaking at the function, Governor of NRB Dr Chiranjivi Nepal said that the International Monetary Fund and the World Bank had suggested to the central bank eight years ago to increase the paid-up capital and the implementation of the plan has now become successful. &nbsp;</p>

<p>Governor Nepal said that the new ceiling of paid-up capital set by the central bank will help in improving the overall banking system of Nepal in the coming days. The new measures taken by the NRB has made large-scale investment possible, argued Governor Nepal.</p>

<p>&ldquo;Now, we don&rsquo;t have to depend solely upon donor agencies for large-scale investment,&rdquo; he said, adding, &ldquo;Banks and financial institutions will now have plenty of capital.&rdquo;</p>

<p>Governor Nepal also drew the attention of all stakeholders to expand the network of banking sector to various parts of the country since only 240 local units out of the total 744 units in the new federal setup have banking service.</p>

<p>Kumari Bank has started integrated transaction service since Friday after acquiring Kasthamandap Development Bank, Mahakali Bikas Bank, Kakrebhir Bikas Bank and Paschimacnhal Finance. Kumari Bank&rsquo;s operator Dr Shobhakant Dhakal said that the bank is still short of Rs 590 million to meet the paid-up capital requirement of Rs 8 billion even after acquiring the four new BFIs. Dhakal informed that the bank would meet the requirement by providing only 20 percent share bonus in the current fiscal year.</p>

<p>After the merger, Kumari Bank has appointed Surendra Bhandari as the new Chief Executive Officer. Now, the bank&rsquo;s deposit is Rs 52 billion while it has loaned out Rs 45 billion. &nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-02',
			'modified' => '2017-07-02',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5893',
			'image' => null,
			'article_date' => '2017-07-02 00:00:00',
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	(int) 10 => array(
		'Article' => array(
			'id' => '6108',
			'article_category_id' => '1',
			'title' => 'NRN steps up effort in cleaning airport',
			'sub_title' => '',
			'summary' => 'Non Residential Nepalis (NRNs) have launched a campaign to clean up Tribhuvan International Airport (TIA).',
			'content' => '<p>June 30: Non Residential Nepalis (NRNs) have launched a campaign to clean up Tribhuvan International Airport (TIA). During the month-long campaign, NRN will provide training to the employees of the airport as well as cleaning materials. Skilled trainers and technicians from Australia-based Khem&rsquo;s Cleaning Service has been assisting the airport staff in this project.</p>

<p>NRN International Coordination Council&rsquo;s vice president and Nepal Tourism Promotion Committee&rsquo;s Chairman Bhavan Bhatta inaugurated the campaign by handing over the cleaning materials to Director General of Civil Aviation Authority of Nepal Sanjeev Gautam and TIA General Manager Devananda Upadhyay.</p>

<p>Stating that the first impression of foreigners toward Nepal starts once they step their foot on the airport, the NRN said it decided to step up its effort in cleaning the airport to maintain the dignity of the country which regards tourists as &lsquo;gods&rsquo;.</p>

<p>TIA General Manager Upadhyay said that cleanliness is a regular affair and this campaign would bear fruit only if it becomes sustainable. Director General of CAAN Upadhyay admitted that the airport authorities could not maintain proper cleanliness due to excessive number of passengers. He further said that the authorities have been relentless working to maintain the hygiene of the airport and that the collaboration with NRN has helped them in bringing some changes.</p>

<p>Operator of Khem&rsquo;s Cleaning Service, Khem Sharma, said that the outlook of the airport can be changed if they carry out cleanliness drive in a properly managed way.</p>
',
			'published' => true,
			'created' => '2017-06-30',
			'modified' => '2017-06-30',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5892',
			'image' => null,
			'article_date' => '2017-06-30 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 11 => array(
		'Article' => array(
			'id' => '6107',
			'article_category_id' => '1',
			'title' => 'Mega Bank Applies for Right Shares',
			'sub_title' => '',
			'summary' => 'Mega Bank has applied for issuance of 65 percent right shares at SEBON.',
			'content' => '<p>June 30: Mega Bank has applied for issuance of 65 percent right shares at SEBON. The bank had decided to issue 65 percent right shares during its last Annual General Meeting.</p>

<p>The bank has asked for the approval for issuing around 29.785 million units of right shares, informed CEO of the bank Anil Keshari Shah.</p>

<p>&nbsp;Nabil Investment Bank will be the issue manager for the issuance of right shares, the bank said in a press statement.</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2017-06-30',
			'modified' => '2017-06-30',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5891',
			'image' => '20170630040241_mega-bank.jpg',
			'article_date' => '2017-06-30 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 12 => array(
		'Article' => array(
			'id' => '6106',
			'article_category_id' => '1',
			'title' => '10 New Companies to Open up New Avenues in Insurance Market',
			'sub_title' => '',
			'summary' => 'With 10 new life insurance companies about to hit the market, the overall business of the country as well as the concerned sector is expected to witness some good prospects in the near future.',
			'content' => '<p>June 30: With 10 new life insurance companies about to hit the market, the overall business of the country as well as the concerned sector is expected to witness some good prospects in the near future.</p>

<p>Experts say that this will increase competition among the insurance companies and create more benefits for the policyholders. It is also expected to create more employment opportunities.</p>

<p>According to the Insurance Committee of Nepal, the number of life insurance companies will reach 19 after the additional 10 companies come into operation. Currently, there are nine life insurance companies and 17 non-life insurance companies as well as one reinsurance company in Nepal. However, the committee&#39;s statistics says that only seven per cent of people have access to insurance.</p>

<p>&quot;The statistics have only counted the surrender and more than one policies of each individual. So, the percentage is not more than five percent,&quot; says Ramesh Kumar Bhattarai, Former Executive Officer of Asian Life Insurance. &nbsp;</p>

<p>&nbsp;</p>

<p>The new companies are in the final stage of entering the market. Anticipating tough competition, both the operational life insurance companies as well as the new companies are preparing to come up with attractive policies and packages to woo their clients.</p>

<p>&nbsp;<strong>95 per cent people not insured</strong></p>

<p>According to Ramesh Kumar Bhattarai, former executive officer of Asian Life Insurance, 95 per cent of the total population is still out of reach from insurance.</p>

<p>&quot;This is definitely an opportunity for the insurance companies. So, they should utilise this prospect to increase the market for insurance,&quot; shared Bhatttarai.</p>

<p>According to Bijay Kumar Sarawagi, chairman of Asian Life Insurance, the insurance market has not fostered due to the lack of awareness about insurance among the people. He said that the government&#39;s unfriendly policy towards the insurance sector is one of the reasons that has been hindering the growth of this sector.</p>

<p>Sarawagi said that the government has set the insurance waiver ceiling at Rs 20,000 for income tax, which is very less.</p>

<p>&quot;In India, the waiver ceiling is Rs 100,000,&quot; he said, adding that addressing this problem would definitely help to improve this sector.</p>

<p>The insurance sector also lacks enough human resources. Experts believe that increase in the number of insurance companies will also create employment for many people.</p>

<p><strong>Employment for 27,000 people </strong></p>

<p>According to the operators of insurance companies, one insurance company requires around 200 employees and 2,500 insurance agents. Therefore, around 27,000 people will be required for 10 insurance companies. Sarawagi shared that as this business is dependent on insurance agents, they have a vital role to play in this sector.</p>

<p>&quot;There is no practice of online insurance here so far. So, the people purchase insurance on the basis of trust they build with the agent,&rdquo; he added.</p>

<p>According to the Insurance Committee, there are more than 75,000 insurance agents as of now. There are also quite a few number of passive agents in this sector. Experts say that the new companies entering the market might also bring changes in the passive agents.</p>

<p>Bhattarai said that though there are around 300 BFIs in Nepal, not more than 50 per cent citizens are have access to such institutions.</p>

<p>&nbsp;&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2017-06-30',
			'modified' => '2017-06-30',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5890',
			'image' => null,
			'article_date' => '2017-06-30 00:00:00',
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	(int) 13 => array(
		'Article' => array(
			'id' => '6105',
			'article_category_id' => '1',
			'title' => 'NEHUB organizes meet on business incubation',
			'sub_title' => '',
			'summary' => ' Nepal Entrepreneurs’ Hub (NEHUB) organized the 15th ‘Spark Talk and Meetups’ on June 27 to highlight about the international trend in business incubation.',
			'content' => '<p>June 30: Nepal Entrepreneurs&rsquo; Hub (NEHUB) organized the 15<sup>th</sup> &lsquo;Spark Talk and Meetups&rsquo; on June 27 to highlight about the international trend in business incubation.</p>

<p>Julian Webb, business incubation &lsquo;InfoDev&rsquo; consultant to World Bank and managing director of CREED Projects, shed light on international trends in incubation.</p>

<p>During the first session, the speaker talked about his experience in international trends in incubation. In the presence of important stakeholders from universities, incubation centers, business accelerators and innovation hubs contributing to the entrepreneurial ecosystem of the country, the program shed light on the challenges and opportunities that these institution face whilst operating in Nepal, reads a press statement issued by NEHUB.</p>

<p>&nbsp;&ldquo;We need to get our basics right first and then talk about disruptive innovation that takes place in Silicon Valley. Incubation centers operating in Nepal must capitalize on the opportunities that are already present in Nepal,&rdquo; said &nbsp;Rupesh Krishna Shrestha, assistant professor at Kathmandu University School of Management.&nbsp;</p>

<p>In addition, the programme also focused on discussions including key skill sets for entrepreneurs needed to go for incubation, importance of bootstrapping against venture capitalist in developing nation and importance of university-based incubation center.</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2017-06-30',
			'modified' => '2017-06-30',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5889',
			'image' => '20170630023349_nehub.jpg',
			'article_date' => '2017-06-30 00:00:00',
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	(int) 14 => array(
		'Article' => array(
			'id' => '6104',
			'article_category_id' => '1',
			'title' => 'IRD chief unable to furnish bail',
			'sub_title' => '',
			'summary' => 'June 30: The Commission for the Investigation of Abuse of Authority (CIAA) has demanded a bail amount of Rs 3 billion from Inland Revenue Department’s (IRD) Director General Chudamani Sharma. ',
			'content' => '<p>June 30: The Commission for the Investigation of Abuse of Authority (CIAA) has demanded a bail amount of Rs 3 billion from Inland Revenue Department&rsquo;s (IRD) Director General Chudamani Sharma. According to informed sources, Sharma is unlikely to furnish the bail amount. Sharma is currently under CIAA custody. He was arrested on June 2 for his alleged involvement in abetting various institutions and individuals in avoiding taxes.</p>

<p>CIAA Spokesperson Jeevraj Koirala said that the anti-graft body is preparing to investigate more than 1,000 files related to Sharma. According to him, the CIAA has already studied 125 files after the arrest of Sharma about a month ago. Sources at the CIAA informed that they found irregularities worth Rs 9 billion after studying those files. Investigations carried out so far have revealed Sharma&rsquo;s involvement in helping various people illegally avoid Rs 9 billion in taxes but the sources said the total embezzled amount cannot be ascertained without the completion of the investigations.</p>

<p>Sources said that the CIAA sought bail from Sharma since it would take quite some time for studying all the files.</p>

<p>&ldquo;Although we have asked for the bail, Sharma hasn&rsquo;t been able to submit the amount. &nbsp;He could have stayed away from the cell as long as the investigations are underway,&rdquo; said one of the sources.</p>

<p>Although other government employees at the IRD used to be transferred to various departments from time to time, Sharma had remained the director general of the office for a long period. He has been accused of soliciting support from power centers to remain in the post. Few years ago, the government had formed a tax clearance commission. Sharma was the member secretary of the commission while Lumba Dhwoj Mahat was the coordinator and Umesh Dhakal a member. The CIAA has publicly announced incentives for anyone who gives information regarding the whereabouts of Mahat and Dhakal.</p>

<p>There is a legal provision for the CIAA to keep anyone accused of corruption in prison for six months. However, the CIAA needs to take permission from the Special Court for that purpose. The anti-graft body also has to seek renewal order every month from the Special Court.&nbsp;</p>
',
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			'image' => '20170630122558_gsMzVQMW.jpg',
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