Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 60]
Code Context
//    $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';



    if(!$xml = simplexml_load_file($file)){
$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp'
$dataForView = array(
	'articles' => array(
		(int) 0 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 1 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 2 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 3 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 4 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 5 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 6 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 7 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 8 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 9 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 10 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 11 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 12 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 13 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 14 => array(
			'Article' => array(
				[maximum depth reached]
			)
		)
	),
	'current_user' => null,
	'logged_in' => false
)
$articles = array(
	(int) 0 => array(
		'Article' => array(
			'id' => '5905',
			'article_category_id' => '1',
			'title' => 'Cyber Law in the offing',
			'sub_title' => '',
			'summary' => 'May 18: Nepal Telecommunication Authority has started working on cyber law formulation. According to Digambar Jha, Chairman of NEA, policies and strategies related with cyber law has already been set and NEA, with a support of ITU, has already initiated the process of formulating the cyber law. “Presently, many worldwide countries',
			'content' => '<p style="text-align:justify">May 18: Nepal Telecommunication Authority has started working on cyber law formulation. According to Digambar Jha, Chairman of NEA, policies and strategies related with cyber law has already been set and NEA, with a support of ITU, has already initiated the process of formulating the cyber law. &ldquo;Presently, many worldwide countries are going through cyber security threats. Thus cyber law is essential to prevent any cyber threats and assure cyber security to general people,&rdquo; Jha said.</p>

<p style="text-align:justify">Meanwhile, NEA is supporting Nepal police in building digital forensic lab. NEA is providing financial support to purchase required equipments for the lab. Jha informed that in a bid to utilize and manage the same lab for cyber crimes investigation, NEA is extending its support to Nepal Police.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-18',
			'modified' => '2017-05-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5690',
			'image' => '20170518030145_cyber.jpg',
			'article_date' => '2017-05-18 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 1 => array(
		'Article' => array(
			'id' => '5904',
			'article_category_id' => '1',
			'title' => 'Finance Ministry Approves License of 10 Life Insurance Companies',
			'sub_title' => '',
			'summary' => 'May 18: Ministry of Finance has approved of providing license to 10 new life insurance companies. Krishna Bahadur Mahara, Deputy Prime Minister and Finance Minister of Nepal approved Insurance Board (IB) to grant license to 10 out of 12 life insurance companies on May 17.',
			'content' => '<p style="text-align: justify;">May 18: Ministry of Finance has approved of providing license to 10 new life insurance companies. Krishna Bahadur Mahara, Deputy Prime Minister and Finance Minister of Nepal approved Insurance Board (IB) to grant license to 10 out of 12 life insurance companies on May 17.</p>

<p style="text-align: justify;">The to-be established new insurance companies required to have paid-up capital of Rs 2 billion. After the licensing of 10 new companies, Nepal will have 19 life insurance companies. Presently, nine insurance companies are operating in Nepal. According to Finance Minister, it approved license of Reliable Life Insurance, Citizen Life Insurance, Star Life Insurance, Reliance Life Insurance, Sun Life Insurance, IME Life Insurance, Mahalaxmi Life Insurance, Jyoti Life Insurance, Sanima Life Insurance and Union Life Insurance.</p>

<p style="text-align: justify;">Similarly, according to Insurance Board, five non-life insurance are also waiting for their license. With the additions, number of non-life insurance will reach 22.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-18',
			'modified' => '2017-05-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5689',
			'image' => '20170518022203_finance-ministry.jpg',
			'article_date' => '2017-05-18 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 2 => array(
		'Article' => array(
			'id' => '5903',
			'article_category_id' => '1',
			'title' => 'Upper Tamakoshi Hydropower Concludes 9th AGM',
			'sub_title' => '',
			'summary' => 'May 18: Upper Tamakoshi Hydropower Company Ltd has concluded its 9th annual general meeting on May 17. The meeting endorsed the annual report and financial report of the FY 2072/73 presented by Kul Man Ghising, Chairman of the company. The meeting also approved the appointment and fee of auditor for the FY 207',
			'content' => '<p style="text-align: justify;">May 18: Upper Tamakoshi Hydropower Company Ltd has concluded its 9<sup>th</sup> annual general meeting on May 17. The meeting endorsed the annual report and financial report of the FY 2072/73 presented by Kul Man Ghising, Chairman of the company. The meeting also approved the appointment and fee of auditor for the FY 2073/74.&nbsp; As per the decision, two auditors will be appointed in the company. They will be paid Rs 250,000 each as a fee.</p>

<p style="text-align: justify;">The company was established on 2063 BS to construct, operate and manage the Upper Tamakoshi Hydropower Project. The main objective of the company was to minimize power shortage by building the national priority project of 456 MW within 2073/74. As per the plan, nearly 79 percent work was completed by mid-April 2015. However, the devastating earthquake of 25 April 2015 followed by the Terai unrest badly affected the project. As a result, only 87 percent of the work was completed by the second quarter of the current FY 2073/74, informs the company.</p>

<p style="text-align: justify;">In the AGM, Chairman Ghising directed the company officials to build at least one unit within June 2018. &ldquo;The board of directors is also exerting to complete the project within stipulated time frame,&rdquo; he said.</p>

<p style="text-align: justify;">&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-18',
			'modified' => '2017-05-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5688',
			'image' => '20170518020614_upper tamakoshi.jpg',
			'article_date' => '2017-05-18 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 3 => array(
		'Article' => array(
			'id' => '5902',
			'article_category_id' => '1',
			'title' => 'Capital Expenditures Doubles in Current FY',
			'sub_title' => '',
			'summary' => 'May 18: In the first nine months of the current FY, the government has spend Rs 74.09 billion on development projects, shows a report of Nepal Rastra Bank. According to the report ‘Current Macroeconomic and Financial Situation of Nepal’ that is based on nine months’ data of the economy, the figure is 23.75 percent of the total allocated budget of capital expenditure.',
			'content' => '<p style="text-align: justify;">May 18: In the first nine months of the current FY, the government has spend Rs 74.09 billion on development projects, shows a report of Nepal Rastra Bank. According to the report &lsquo;Current Macroeconomic and Financial Situation of Nepal&rsquo; that is based on nine months&rsquo; data of the economy, the figure is 23.75 percent of the total allocated budget of capital expenditure.</p>

<p style="text-align: justify;">The capital expenditure which gives returns in future was Rs 32.44 billion in the first nine months of the last FY. As per the NRB statistics, the government spent more than twice on the capital expenditure in the review period of the current FY compared to the corresponding period of the last FY. &nbsp;Economists opined that given that the government make enormous investment in the capital expenditure and continues it, economic activities will increase which will eventually accelerate development process in the country.</p>

<p style="text-align: justify;">&ldquo;Boost in capital expenditure opens door of opportunities,&rdquo; opined Daya Ram Pandey, an economist. &ldquo;Growth in economic activities will lead to new employment opportunities, citizens will earn both name and fame,&rdquo; said Pandey, &ldquo;Increase in capital investment provides positive result to economy.&rdquo;</p>

<p style="text-align: justify;">In the review period, the total government expenditure on a cash basis increased 46.6 percent to Rs 419.93 billion. Such expenditure had increased just 8 percent to Rs 286.54 billion in the corresponding period of the previous year.</p>

<p style="text-align: justify;">Apart from capital expenditure, the recurrent expenditure increased 44.6 percent to Rs 305.77 billion in the review period. &nbsp;Such expenditure stood at Rs 211.44 billion in the corresponding period of the previous year.</p>
',
			'published' => true,
			'created' => '2017-05-18',
			'modified' => '2017-05-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5687',
			'image' => '20170518122710_cap.JPG',
			'article_date' => '2017-05-18 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 4 => array(
		'Article' => array(
			'id' => '5901',
			'article_category_id' => '1',
			'title' => 'iPhone Slashes Price in Nepali Market',
			'sub_title' => '',
			'summary' => 'May 18: iPhone has slashed price of its products in the Nepali market.  Generation Next Communication, the authorized distributor of iPhone for Nepal informed of the price reduction in Nepal. According to the company, iPhone 7 32GB in Black has been priced Rs 86,000 after the price slash.',
			'content' => '<p style="text-align: justify;">May 18: iPhone has slashed price of its products in the Nepali market. &nbsp;Generation Next Communication, the authorized distributor of iPhone for Nepal informed of the price reduction in Nepal. According to the company, iPhone 7 32GB in Black has been priced Rs 86,000 after the price slash.</p>

<p style="text-align: justify;">Similalry, iPhone 7 128GB Gold, Rose Gold, Black, Jet Black and Red has been priced Rs 99,800. Likewise, iPhone 7 256GB has been priced Rs 112,000, iPhone 7 plus 32GB has been priced Rs 105,000 and iPhone 7 plus 128GB has been priced Rs 119,000.</p>

<p style="text-align: justify;">As per the company, the customers can now purchase iPhone 7 plus 256GB at Rs 132,000. In case of iPhone 6, customers can purchase iPhone6 64GB at Rs 68,000, 128GB at Rs 78,000 and SE 64GB at Rs 52,500. Likewise, iPhone 6S 32GB can be purchased at Rs 72,800 and iPad Pro 6.7 with smart keyboard can be purchased at Rs 17,500.</p>

<p style="text-align: justify;">Additionally, the company is providing free Ncell data &nbsp;of 1GB per month for six months along with one back cover and tempered glass on iPhone 7 and 7 Plus. The iPhone products are available in monthly installment too, said the company.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-18',
			'modified' => '2017-05-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5686',
			'image' => '20170518110617_iphone.jpg',
			'article_date' => '2017-05-18 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 5 => array(
		'Article' => array(
			'id' => '5900',
			'article_category_id' => '1',
			'title' => 'NIC Asia Bank Starts 9 Branches At Once',
			'sub_title' => '',
			'summary' => 'May 18: NIC Asia has opened nine new branches on a single day. The bank inaugurated the branches organizing separate programs on May 17. With the additions, the number of branches has reached 107.',
			'content' => '<p style="text-align: justify;">May 18: NIC Asia has opened nine new branches on a single day. The bank inaugurated the branches organizing separate programs on May 17. With the additions, the number of branches has reached 107.</p>

<p style="text-align: justify;">Among the new branches, Sauraha Pharsatikar branch was inaugurated by Surendra Prasad Shrestha, central member of Federation of Nepalese Chamber of Commerce and Industries (FNCCI). Similarly, Dhakdhahi branch was inaugurated by Krishna Prasad Sharma, another central member of FNCCI. Likewise, Bhumahi branch was inaugurated by Bhim Bahadur Thapa, yet another central member of FNCCI and Bansgadhi branch was inaugurated by Guru Prasad Poudel, Director of Nepal Rastra Bank (NRB), Nepalgunj branch. Moreover, Parsa branch was inaugurated by Guna Raj Shrestha, President of Khairahani Chamber of Commerce and Industries and Tandi branch was inaugurated by Gyan Bahadur Bisural, President of Ratnanagar Chamber of Commerce and Industries.</p>

<p style="text-align: justify;">Furthermore, Dulegauda and Bhimad branch were inaugurated by Krishna Raj Pandit, President of Tanahun Chamber of Commerce and Industries and Hakim Chowk branch was inaugurated by Rajan Gautam, President of Chitwan Chamber of Commerce and Industries.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-18',
			'modified' => '2017-05-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5685',
			'image' => '20170518104014_NIC.jpg',
			'article_date' => '2017-05-18 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 6 => array(
		'Article' => array(
			'id' => '5899',
			'article_category_id' => '1',
			'title' => 'Implementation of Clean Feed Policy Faces Challenges',
			'sub_title' => '',
			'summary' => 'May 17: In a bid to prohibit foreign pay television channels to run advertisement from coming July 16, the government approved ‘Clean Feed Policy’ on last July 22. The government announced the policy to be implemented in both free and pay foreign television channels. However, with the nearing implementation phase of the policy, execution of the policy seems challenging.',
			'content' => '<p style="text-align: justify;">May 17: In a bid to prohibit foreign pay television channels to run advertisement from coming July 16, the government approved &lsquo;Clean Feed Policy&rsquo; on last July 22. The government announced the policy to be implemented in both free and pay foreign television channels. However, with the nearing implementation phase of the policy, execution of the policy seems challenging.</p>

<p style="text-align: justify;">Presently, Nepal broadcasts nearly 150 foreign channels through downlink. Apart from programs, these channels also broadcast advertisement freely.&nbsp; Although the government collects revenue from advertisement broadcasted from domestic channels, foreign channels, however, do not need to pay such revenue. This has caused big losses not only to state but also to domestic advertisement industries. Thus the policy has ended the vacuum hanging above clean feed policy in Nepali television sector.</p>

<p style="text-align: justify;">Although few television channels that are being broadcasted from Singapore are advertisement free, majority of foreign channels broadcast advertisement too. As per international practices, pay foreign channels needs to be advertisement free to be broadcasted in any national territory.</p>

<p style="text-align: justify;">The advertisement broadcasted in such foreign TV channels are irrelevant to the government, public, domestic broadcasting company and advertisement market. Moreover, it also negatively affect legal and cultural sector of any particular country. In a bid to end such circumstances, the government is implementing clean feed broadcast of foreign TV channels in Nepal.</p>

<p style="text-align: justify;">In order to implement the clean feed policy, the government formulated a suggestion committee on the last February 13 to suggest technical, legal and organizational mechanism. The committee, however, surpassed the deadline of three weeks given to submit a report on the policy.</p>

<p style="text-align: justify;">Implementation of the policy will lead to market expansion for domestic advertisement agencies and television channels. Along with the expansion of advertisement industries, government revenue will also increase. Nevertheless, the committee predicts that the signal price of foreign channels might increase in the course.</p>

<p style="text-align: justify;">The preliminary report also points out that time frame of foreign TV channels may not go parallel with Nepali time as the channels needs to block advertisement.</p>

<p style="text-align: justify;">Similarly, few television channels distributed by foreign broadcaster might close due to inability of preparing clean feed for Nepal.</p>

<p style="text-align: justify;">&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-17',
			'modified' => '2017-05-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5684',
			'image' => '20170517030327_clean feed.jpg',
			'article_date' => '2017-05-17 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 7 => array(
		'Article' => array(
			'id' => '5898',
			'article_category_id' => '1',
			'title' => 'NT Announces Various Schemes on Telecommunication Day',
			'sub_title' => '',
			'summary' => 'May 17: Nepal Telecom (NT) has announced various promotional schemes on the occasion of World Telecommunication and Information Society Day and 100th anniversary of telephone service in Nepal. Issuing a press statement, the company said that the offer that is available to GSM and CDMA mobile services will last till August 12.',
			'content' => '<p style="text-align: justify;">May 17: Nepal Telecom (NT) has announced various promotional schemes on the occasion of World Telecommunication and Information Society Day and 100<sup>th</sup> anniversary of telephone service in Nepal. Issuing a press statement, the company said that the offer that is available to GSM and CDMA mobile services will last till August 12.</p>

<p style="text-align: justify;">Under the scheme, customers of GSM services are offered 4G data packages. Similarly, customers of CDMA services are offered all time data packages and night data packages.</p>

<p style="text-align: justify;">Under the 4G data package, NT has offered 200MB data pack at Rs 50 valid for 7 days and 500MB data pack at Rs 100 valid for 14 days. Similarly, customers can also choose from 1200MB data pack at Rs 200 valid for 28 days, 2000MB data at Rs 300 valid for 28 days and 3600MB data at Rs 500 for 28 days. In order to purchase a data pack, customers will have to type the required data pack and SMS to 1415.</p>

<p style="text-align: justify;">Similarly, under all time data pack, small data packs have been added under which customers are offered 60MB data at Rs 25 valid for 7 days. NT also offered 125MB data at Rs 50 valid for 14 days and 400MB data at Rs 100 valid for 30 days. Moreover, the customers can also purchase 850MB data at Rs 200 valid for 30 days and 1500MB data at Rs 300 valid for 30 days. Customers can type the required data pack and SMS to 1415 to purchase a data pack.</p>

<p style="text-align: justify;">Likewise, under night data pack, NT is offering 3GB data at Rs 200 and 6.5GB data at Rs 300 applicable from 10 pm to 6 am.</p>

<p style="text-align: justify;">Moreover, under Facebook and Instagram package under the scheme, customers are offered 110MB data at Rs 25 valid for 7 days. Similarly, 230MB data at Rs 50 for 14 days, 500MB data at Rs 100 for 28 days and 1100MB data at Rs 200 for 28 days are also offered by NT.</p>

<p style="text-align: justify;">&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-17',
			'modified' => '2017-05-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5683',
			'image' => '20170517125244_nt.jpg',
			'article_date' => '2017-05-17 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 8 => array(
		'Article' => array(
			'id' => '5897',
			'article_category_id' => '1',
			'title' => 'NRB Facilitate Online Foreign Currency Transaction Reporting',
			'sub_title' => '',
			'summary' => 'May 17: With the launch of online reporting of foreign exchange transaction by Nepal Rastra Bank,   firms dealing with foreign currency trading have been released from the hassle of visiting NRB every now and then.  Now onwards, the firms can submit the foreign currency trading report through online from any convenient locations.',
			'content' => '<p style="text-align: justify;">May 17: With the launch of online reporting of foreign exchange transaction by Nepal Rastra Bank, &nbsp;&nbsp;firms dealing with foreign currency trading have been released from the hassle of visiting NRB every now and then. &nbsp;Now onwards, the firms can submit the foreign currency trading report through online from any convenient locations.</p>

<p style="text-align: justify;">&ldquo;The central bank introduced the online system from mid-April,&rdquo; said Bhisma Raj Dhungana, Executive Director of Foreign Exchange Management Department, NRB. Nearly 5000 foreign currency traders including banks and financial institutions (BFIs) will be benefited by the system. Dhungana opined that the system will ease the report submission and also saves time.</p>

<p style="text-align: justify;">According to Dhungana, the registered traders required to obtain &lsquo;Username&rsquo; and &lsquo;Password&rsquo; from Foreign Exchange Management Department, NRB to enter in the system. NRB has made the online reporting mandatory for the foreign exchange traders. &ldquo;The online service has been launched to make the foreign exchange transaction easy, transparent and manageable. &nbsp;The system will facilitate easy and fast report submission to the traders,&rdquo; he added.</p>

<p style="text-align: justify;">NRB, issuing a notice on May 15, has requested all the related parties to submit their monthly transaction report from the last mid-April through online.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-17',
			'modified' => '2017-05-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5682',
			'image' => '20170517113634_nrb.jpg',
			'article_date' => '2017-05-17 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 9 => array(
		'Article' => array(
			'id' => '5896',
			'article_category_id' => '1',
			'title' => 'Srijana Finance Starts Branch at Enaruwa',
			'sub_title' => '',
			'summary' => 'May 17: Srijana Fainance has started a branch at Enaruwa, Sunsari. Panch Dev Mehta, President of Enaruwa Chamber of Commerce and Industries and Nanda Kishor Rathi, Member of Chamber of Industries, Morang and Director of Srijana Finance jointly inaugurated the branch amid a program on May 15. “Srijana Finance, which has been',
			'content' => '<p style="text-align: justify;">May 17: Srijana Fainance has started a branch at Enaruwa, Sunsari. Panch Dev Mehta, President of Enaruwa Chamber of Commerce and Industries and Nanda Kishor Rathi, Member of Chamber of Industries, Morang and Director of Srijana Finance jointly inaugurated the branch amid a program on May 15. &ldquo;Srijana Finance, which has been serving the customers since 15 years, opened the branch to serve the locals of the area,&rdquo; said Bhawani Shanker Chapagain, CEO of the company.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-17',
			'modified' => '2017-05-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5681',
			'image' => '20170517104921_srijana.jpg',
			'article_date' => '2017-05-17 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 10 => array(
		'Article' => array(
			'id' => '5895',
			'article_category_id' => '1',
			'title' => 'Take Debtors’ Consent First to Raise Interest Rate: NRB',
			'sub_title' => '',
			'summary' => 'May 16: Now, the banks and financial institutions (BFIs) are required to receive consent from the debtors if they are to raise interest rates on loans.',
			'content' => '<p style="text-align: justify;">May 16: Now, the banks and financial institutions (BFIs) are required to receive consent from the debtors if they are to raise interest rates on loans.</p>

<p style="text-align: justify;">&nbsp;The Nepal Rastra Bank (NRB), issuing a circular, barred BFIs from raising interest rates haphazardly without taking consent of the debtors.</p>

<p style="text-align: justify;">However, the BFIs can raise the interest rates on some conditions like failure to pay back interest and principals of loans, as well as if damages are made on collateral and violation of other conditions of loans by the debtors.</p>

<p style="text-align: justify;">Previously, the interest rates of BFIs on various accounts and loans were varied. Thus, the present NRB arrangement is expected to bringing good governance in BFIs and maintain suitable interest rates in loans, said Narayan Prasad Poudel, Spokesperson of NRB.</p>

<p style="text-align: justify;">According to him, the provision was made as per the direction of the Supreme Court to bar the BFIs from raising interest rates haphazardly.</p>

<p style="text-align: justify;">As per the new arrangement, the BFIs can add only a certain percentage on the base interest rate as premium when the debtors apply for new or additional loan.</p>

<p style="text-align: justify;">For the old loans with unmentioned premiums, the difference between interest rate mentioned in the offer letter and the base rate maintained during the release of loan will be the ultimate premium rate. However, if the banks renew the agreement with the debtors, then they can settle a new premium rate.</p>

<p style="text-align: justify;">The NRB has fixed 5 percent as the spread rate of interest to the BFIs. &nbsp;Now the NRB has made arrangements for the BFIs not to maintain more than five percent the average difference of interest rate charged on loans and the interest rates provided on deposits.</p>
',
			'published' => true,
			'created' => '2017-05-16',
			'modified' => '2017-05-16',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5680',
			'image' => '20170516050840_nrb.jpg',
			'article_date' => '2017-05-16 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 11 => array(
		'Article' => array(
			'id' => '5894',
			'article_category_id' => '1',
			'title' => 'Sunrise Bank to Issue 10:3 Right Shares',
			'sub_title' => '',
			'summary' => 'May 16: Sunrise Bank is issuing 10:3 right shares from May 30 to July 3. The bank is issuing 16,359,636 units of right shares with a face value of Rs 100 to its existing shareholders.',
			'content' => '<p style="text-align: justify;">May 16: Sunrise Bank is issuing 10:3 right shares from May 30 to July 3. The bank is issuing 16,359,636 units of right shares with a face value of Rs 100 to its existing shareholders.</p>

<p style="text-align: justify;">According to the bank, shareholders registered in the book by May 14 can apply for the right share.&nbsp; The bank has appointed Prabhu Capital Ltd as its issue manager. The interested shareholders can apply for the right share through Pabhu Capital as well as all the branches of Sunrise Bank.</p>

<p style="text-align: justify;">After the issuance of right shares, the paid-up capital of the bank will reach Rs 7.08 billion. The bank earned Rs 865.2 million net profit by the last mid-April.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-16',
			'modified' => '2017-05-16',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5679',
			'image' => '20170516020444_sunrise.jpg',
			'article_date' => '2017-05-16 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 12 => array(
		'Article' => array(
			'id' => '5893',
			'article_category_id' => '1',
			'title' => 'Dugar Launches 3 Products under ‘Gyan’',
			'sub_title' => '',
			'summary' => 'May 16: KL Dugar Group has brought three new products under ‘Gyan’ brand.  The company launched Gyan Maize Atta, Gyan Maize Grit and Gyan Premium Lito (baby food) in the market. Issuing a press statement, the company said that the products are available in 5kg and 2kg packages in nationwide major departmental store and retailers. ',
			'content' => '<p style="text-align: justify;">May 16: KL Dugar Group has brought three new products under &lsquo;Gyan&rsquo; brand. &nbsp;The company launched Gyan Maize Atta, Gyan Maize Grit and Gyan Premium Lito (baby food) in the market. Issuing a press statement, the company said that the products are available in 5kg and 2kg packages in nationwide major departmental store and retailers. &nbsp;</p>

<p style="text-align: justify;">According to the company, Gyan Maize Atta which is manufactured by yellow and white maize contains fibers and proteins. Similarly, Gyan Maize Grit is low in fat, sodium, gluten free and contains rich dietary fiber.</p>

<p style="text-align: justify;">Likewise, Gyan Premim Lito that is manufactured by the mixture of wheat, rice and soya contains milk powder, sugar, corn oil and fortified with 16 vitamins and micronutrients. The Gyan Premium Lito is suitable for the infants above six months, said the company in a press statement.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-16',
			'modified' => '2017-05-16',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5678',
			'image' => '20170516010307_gyan.jpg',
			'article_date' => '2017-05-16 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 13 => array(
		'Article' => array(
			'id' => '5892',
			'article_category_id' => '1',
			'title' => 'Sanima Bank to Provide ASBA and Demat Services Thru Online',
			'sub_title' => '',
			'summary' => 'May 16: Sanima Bank has introduced online ASBA and Demat services. In a bid to provide convenient ASBA and Demat services to the customers, the bank started the online services from May 15. The customers can receive the services by taking internet banking services from the bank, said the bank in a press statement. ',
			'content' => '<p style="text-align: justify;">May 16: Sanima Bank has introduced online ASBA and Demat services. In a bid to provide convenient ASBA and Demat services to the customers, the bank started the online services from May 15. The customers can receive the services by taking internet banking services from the bank, said the bank in a press statement.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-16',
			'modified' => '2017-05-16',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5677',
			'image' => '20170516115845_sanima.jpg',
			'article_date' => '2017-05-16 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 14 => array(
		'Article' => array(
			'id' => '5891',
			'article_category_id' => '1',
			'title' => 'Machhapuchchhre Chairman Takes Oath in front of Governor',
			'sub_title' => '',
			'summary' => 'May 16: Roshan KC, the newly appointed chairman of Machhapuchchhre Bank has taken oath in front of Dr Chiranjibi Nepal, Governor of Nepal Rastra Bank. KC took oath as per the provision of banks and financial institutions Act 2073.',
			'content' => '<p style="text-align: justify;">May 16: Roshan KC, the newly appointed chairman of Machhapuchchhre Bank has taken oath in front of Dr Chiranjibi Nepal, Governor of Nepal Rastra Bank. KC took oath as per the provision of banks and financial institutions Act 2073.</p>

<p style="text-align: justify;">KC was elected as chairman of the bank during the board of directors&rsquo; meeting on April 27.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-16',
			'modified' => '2017-05-16',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5676',
			'image' => '20170516113511_macha.jpg',
			'article_date' => '2017-05-16 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	)
)
$current_user = null
$logged_in = false
include - APP/View/Elements/side_bar.ctp, line 60
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/index.ctp, line 157
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117

Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity &quot;&quot; [APP/View/Elements/side_bar.ctp, line 60]
Code Context
//    $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';



    if(!$xml = simplexml_load_file($file)){
$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp'
$dataForView = array(
	'articles' => array(
		(int) 0 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 1 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 2 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 3 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 4 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 5 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 6 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 7 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 8 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 9 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 10 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 11 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 12 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 13 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 14 => array(
			'Article' => array(
				[maximum depth reached]
			)
		)
	),
	'current_user' => null,
	'logged_in' => false
)
$articles = array(
	(int) 0 => array(
		'Article' => array(
			'id' => '5905',
			'article_category_id' => '1',
			'title' => 'Cyber Law in the offing',
			'sub_title' => '',
			'summary' => 'May 18: Nepal Telecommunication Authority has started working on cyber law formulation. According to Digambar Jha, Chairman of NEA, policies and strategies related with cyber law has already been set and NEA, with a support of ITU, has already initiated the process of formulating the cyber law. “Presently, many worldwide countries',
			'content' => '<p style="text-align:justify">May 18: Nepal Telecommunication Authority has started working on cyber law formulation. According to Digambar Jha, Chairman of NEA, policies and strategies related with cyber law has already been set and NEA, with a support of ITU, has already initiated the process of formulating the cyber law. &ldquo;Presently, many worldwide countries are going through cyber security threats. Thus cyber law is essential to prevent any cyber threats and assure cyber security to general people,&rdquo; Jha said.</p>

<p style="text-align:justify">Meanwhile, NEA is supporting Nepal police in building digital forensic lab. NEA is providing financial support to purchase required equipments for the lab. Jha informed that in a bid to utilize and manage the same lab for cyber crimes investigation, NEA is extending its support to Nepal Police.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-18',
			'modified' => '2017-05-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5690',
			'image' => '20170518030145_cyber.jpg',
			'article_date' => '2017-05-18 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 1 => array(
		'Article' => array(
			'id' => '5904',
			'article_category_id' => '1',
			'title' => 'Finance Ministry Approves License of 10 Life Insurance Companies',
			'sub_title' => '',
			'summary' => 'May 18: Ministry of Finance has approved of providing license to 10 new life insurance companies. Krishna Bahadur Mahara, Deputy Prime Minister and Finance Minister of Nepal approved Insurance Board (IB) to grant license to 10 out of 12 life insurance companies on May 17.',
			'content' => '<p style="text-align: justify;">May 18: Ministry of Finance has approved of providing license to 10 new life insurance companies. Krishna Bahadur Mahara, Deputy Prime Minister and Finance Minister of Nepal approved Insurance Board (IB) to grant license to 10 out of 12 life insurance companies on May 17.</p>

<p style="text-align: justify;">The to-be established new insurance companies required to have paid-up capital of Rs 2 billion. After the licensing of 10 new companies, Nepal will have 19 life insurance companies. Presently, nine insurance companies are operating in Nepal. According to Finance Minister, it approved license of Reliable Life Insurance, Citizen Life Insurance, Star Life Insurance, Reliance Life Insurance, Sun Life Insurance, IME Life Insurance, Mahalaxmi Life Insurance, Jyoti Life Insurance, Sanima Life Insurance and Union Life Insurance.</p>

<p style="text-align: justify;">Similarly, according to Insurance Board, five non-life insurance are also waiting for their license. With the additions, number of non-life insurance will reach 22.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-18',
			'modified' => '2017-05-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5689',
			'image' => '20170518022203_finance-ministry.jpg',
			'article_date' => '2017-05-18 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 2 => array(
		'Article' => array(
			'id' => '5903',
			'article_category_id' => '1',
			'title' => 'Upper Tamakoshi Hydropower Concludes 9th AGM',
			'sub_title' => '',
			'summary' => 'May 18: Upper Tamakoshi Hydropower Company Ltd has concluded its 9th annual general meeting on May 17. The meeting endorsed the annual report and financial report of the FY 2072/73 presented by Kul Man Ghising, Chairman of the company. The meeting also approved the appointment and fee of auditor for the FY 207',
			'content' => '<p style="text-align: justify;">May 18: Upper Tamakoshi Hydropower Company Ltd has concluded its 9<sup>th</sup> annual general meeting on May 17. The meeting endorsed the annual report and financial report of the FY 2072/73 presented by Kul Man Ghising, Chairman of the company. The meeting also approved the appointment and fee of auditor for the FY 2073/74.&nbsp; As per the decision, two auditors will be appointed in the company. They will be paid Rs 250,000 each as a fee.</p>

<p style="text-align: justify;">The company was established on 2063 BS to construct, operate and manage the Upper Tamakoshi Hydropower Project. The main objective of the company was to minimize power shortage by building the national priority project of 456 MW within 2073/74. As per the plan, nearly 79 percent work was completed by mid-April 2015. However, the devastating earthquake of 25 April 2015 followed by the Terai unrest badly affected the project. As a result, only 87 percent of the work was completed by the second quarter of the current FY 2073/74, informs the company.</p>

<p style="text-align: justify;">In the AGM, Chairman Ghising directed the company officials to build at least one unit within June 2018. &ldquo;The board of directors is also exerting to complete the project within stipulated time frame,&rdquo; he said.</p>

<p style="text-align: justify;">&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-18',
			'modified' => '2017-05-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5688',
			'image' => '20170518020614_upper tamakoshi.jpg',
			'article_date' => '2017-05-18 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 3 => array(
		'Article' => array(
			'id' => '5902',
			'article_category_id' => '1',
			'title' => 'Capital Expenditures Doubles in Current FY',
			'sub_title' => '',
			'summary' => 'May 18: In the first nine months of the current FY, the government has spend Rs 74.09 billion on development projects, shows a report of Nepal Rastra Bank. According to the report ‘Current Macroeconomic and Financial Situation of Nepal’ that is based on nine months’ data of the economy, the figure is 23.75 percent of the total allocated budget of capital expenditure.',
			'content' => '<p style="text-align: justify;">May 18: In the first nine months of the current FY, the government has spend Rs 74.09 billion on development projects, shows a report of Nepal Rastra Bank. According to the report &lsquo;Current Macroeconomic and Financial Situation of Nepal&rsquo; that is based on nine months&rsquo; data of the economy, the figure is 23.75 percent of the total allocated budget of capital expenditure.</p>

<p style="text-align: justify;">The capital expenditure which gives returns in future was Rs 32.44 billion in the first nine months of the last FY. As per the NRB statistics, the government spent more than twice on the capital expenditure in the review period of the current FY compared to the corresponding period of the last FY. &nbsp;Economists opined that given that the government make enormous investment in the capital expenditure and continues it, economic activities will increase which will eventually accelerate development process in the country.</p>

<p style="text-align: justify;">&ldquo;Boost in capital expenditure opens door of opportunities,&rdquo; opined Daya Ram Pandey, an economist. &ldquo;Growth in economic activities will lead to new employment opportunities, citizens will earn both name and fame,&rdquo; said Pandey, &ldquo;Increase in capital investment provides positive result to economy.&rdquo;</p>

<p style="text-align: justify;">In the review period, the total government expenditure on a cash basis increased 46.6 percent to Rs 419.93 billion. Such expenditure had increased just 8 percent to Rs 286.54 billion in the corresponding period of the previous year.</p>

<p style="text-align: justify;">Apart from capital expenditure, the recurrent expenditure increased 44.6 percent to Rs 305.77 billion in the review period. &nbsp;Such expenditure stood at Rs 211.44 billion in the corresponding period of the previous year.</p>
',
			'published' => true,
			'created' => '2017-05-18',
			'modified' => '2017-05-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5687',
			'image' => '20170518122710_cap.JPG',
			'article_date' => '2017-05-18 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 4 => array(
		'Article' => array(
			'id' => '5901',
			'article_category_id' => '1',
			'title' => 'iPhone Slashes Price in Nepali Market',
			'sub_title' => '',
			'summary' => 'May 18: iPhone has slashed price of its products in the Nepali market.  Generation Next Communication, the authorized distributor of iPhone for Nepal informed of the price reduction in Nepal. According to the company, iPhone 7 32GB in Black has been priced Rs 86,000 after the price slash.',
			'content' => '<p style="text-align: justify;">May 18: iPhone has slashed price of its products in the Nepali market. &nbsp;Generation Next Communication, the authorized distributor of iPhone for Nepal informed of the price reduction in Nepal. According to the company, iPhone 7 32GB in Black has been priced Rs 86,000 after the price slash.</p>

<p style="text-align: justify;">Similalry, iPhone 7 128GB Gold, Rose Gold, Black, Jet Black and Red has been priced Rs 99,800. Likewise, iPhone 7 256GB has been priced Rs 112,000, iPhone 7 plus 32GB has been priced Rs 105,000 and iPhone 7 plus 128GB has been priced Rs 119,000.</p>

<p style="text-align: justify;">As per the company, the customers can now purchase iPhone 7 plus 256GB at Rs 132,000. In case of iPhone 6, customers can purchase iPhone6 64GB at Rs 68,000, 128GB at Rs 78,000 and SE 64GB at Rs 52,500. Likewise, iPhone 6S 32GB can be purchased at Rs 72,800 and iPad Pro 6.7 with smart keyboard can be purchased at Rs 17,500.</p>

<p style="text-align: justify;">Additionally, the company is providing free Ncell data &nbsp;of 1GB per month for six months along with one back cover and tempered glass on iPhone 7 and 7 Plus. The iPhone products are available in monthly installment too, said the company.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-18',
			'modified' => '2017-05-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5686',
			'image' => '20170518110617_iphone.jpg',
			'article_date' => '2017-05-18 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 5 => array(
		'Article' => array(
			'id' => '5900',
			'article_category_id' => '1',
			'title' => 'NIC Asia Bank Starts 9 Branches At Once',
			'sub_title' => '',
			'summary' => 'May 18: NIC Asia has opened nine new branches on a single day. The bank inaugurated the branches organizing separate programs on May 17. With the additions, the number of branches has reached 107.',
			'content' => '<p style="text-align: justify;">May 18: NIC Asia has opened nine new branches on a single day. The bank inaugurated the branches organizing separate programs on May 17. With the additions, the number of branches has reached 107.</p>

<p style="text-align: justify;">Among the new branches, Sauraha Pharsatikar branch was inaugurated by Surendra Prasad Shrestha, central member of Federation of Nepalese Chamber of Commerce and Industries (FNCCI). Similarly, Dhakdhahi branch was inaugurated by Krishna Prasad Sharma, another central member of FNCCI. Likewise, Bhumahi branch was inaugurated by Bhim Bahadur Thapa, yet another central member of FNCCI and Bansgadhi branch was inaugurated by Guru Prasad Poudel, Director of Nepal Rastra Bank (NRB), Nepalgunj branch. Moreover, Parsa branch was inaugurated by Guna Raj Shrestha, President of Khairahani Chamber of Commerce and Industries and Tandi branch was inaugurated by Gyan Bahadur Bisural, President of Ratnanagar Chamber of Commerce and Industries.</p>

<p style="text-align: justify;">Furthermore, Dulegauda and Bhimad branch were inaugurated by Krishna Raj Pandit, President of Tanahun Chamber of Commerce and Industries and Hakim Chowk branch was inaugurated by Rajan Gautam, President of Chitwan Chamber of Commerce and Industries.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-18',
			'modified' => '2017-05-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5685',
			'image' => '20170518104014_NIC.jpg',
			'article_date' => '2017-05-18 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 6 => array(
		'Article' => array(
			'id' => '5899',
			'article_category_id' => '1',
			'title' => 'Implementation of Clean Feed Policy Faces Challenges',
			'sub_title' => '',
			'summary' => 'May 17: In a bid to prohibit foreign pay television channels to run advertisement from coming July 16, the government approved ‘Clean Feed Policy’ on last July 22. The government announced the policy to be implemented in both free and pay foreign television channels. However, with the nearing implementation phase of the policy, execution of the policy seems challenging.',
			'content' => '<p style="text-align: justify;">May 17: In a bid to prohibit foreign pay television channels to run advertisement from coming July 16, the government approved &lsquo;Clean Feed Policy&rsquo; on last July 22. The government announced the policy to be implemented in both free and pay foreign television channels. However, with the nearing implementation phase of the policy, execution of the policy seems challenging.</p>

<p style="text-align: justify;">Presently, Nepal broadcasts nearly 150 foreign channels through downlink. Apart from programs, these channels also broadcast advertisement freely.&nbsp; Although the government collects revenue from advertisement broadcasted from domestic channels, foreign channels, however, do not need to pay such revenue. This has caused big losses not only to state but also to domestic advertisement industries. Thus the policy has ended the vacuum hanging above clean feed policy in Nepali television sector.</p>

<p style="text-align: justify;">Although few television channels that are being broadcasted from Singapore are advertisement free, majority of foreign channels broadcast advertisement too. As per international practices, pay foreign channels needs to be advertisement free to be broadcasted in any national territory.</p>

<p style="text-align: justify;">The advertisement broadcasted in such foreign TV channels are irrelevant to the government, public, domestic broadcasting company and advertisement market. Moreover, it also negatively affect legal and cultural sector of any particular country. In a bid to end such circumstances, the government is implementing clean feed broadcast of foreign TV channels in Nepal.</p>

<p style="text-align: justify;">In order to implement the clean feed policy, the government formulated a suggestion committee on the last February 13 to suggest technical, legal and organizational mechanism. The committee, however, surpassed the deadline of three weeks given to submit a report on the policy.</p>

<p style="text-align: justify;">Implementation of the policy will lead to market expansion for domestic advertisement agencies and television channels. Along with the expansion of advertisement industries, government revenue will also increase. Nevertheless, the committee predicts that the signal price of foreign channels might increase in the course.</p>

<p style="text-align: justify;">The preliminary report also points out that time frame of foreign TV channels may not go parallel with Nepali time as the channels needs to block advertisement.</p>

<p style="text-align: justify;">Similarly, few television channels distributed by foreign broadcaster might close due to inability of preparing clean feed for Nepal.</p>

<p style="text-align: justify;">&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-17',
			'modified' => '2017-05-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5684',
			'image' => '20170517030327_clean feed.jpg',
			'article_date' => '2017-05-17 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 7 => array(
		'Article' => array(
			'id' => '5898',
			'article_category_id' => '1',
			'title' => 'NT Announces Various Schemes on Telecommunication Day',
			'sub_title' => '',
			'summary' => 'May 17: Nepal Telecom (NT) has announced various promotional schemes on the occasion of World Telecommunication and Information Society Day and 100th anniversary of telephone service in Nepal. Issuing a press statement, the company said that the offer that is available to GSM and CDMA mobile services will last till August 12.',
			'content' => '<p style="text-align: justify;">May 17: Nepal Telecom (NT) has announced various promotional schemes on the occasion of World Telecommunication and Information Society Day and 100<sup>th</sup> anniversary of telephone service in Nepal. Issuing a press statement, the company said that the offer that is available to GSM and CDMA mobile services will last till August 12.</p>

<p style="text-align: justify;">Under the scheme, customers of GSM services are offered 4G data packages. Similarly, customers of CDMA services are offered all time data packages and night data packages.</p>

<p style="text-align: justify;">Under the 4G data package, NT has offered 200MB data pack at Rs 50 valid for 7 days and 500MB data pack at Rs 100 valid for 14 days. Similarly, customers can also choose from 1200MB data pack at Rs 200 valid for 28 days, 2000MB data at Rs 300 valid for 28 days and 3600MB data at Rs 500 for 28 days. In order to purchase a data pack, customers will have to type the required data pack and SMS to 1415.</p>

<p style="text-align: justify;">Similarly, under all time data pack, small data packs have been added under which customers are offered 60MB data at Rs 25 valid for 7 days. NT also offered 125MB data at Rs 50 valid for 14 days and 400MB data at Rs 100 valid for 30 days. Moreover, the customers can also purchase 850MB data at Rs 200 valid for 30 days and 1500MB data at Rs 300 valid for 30 days. Customers can type the required data pack and SMS to 1415 to purchase a data pack.</p>

<p style="text-align: justify;">Likewise, under night data pack, NT is offering 3GB data at Rs 200 and 6.5GB data at Rs 300 applicable from 10 pm to 6 am.</p>

<p style="text-align: justify;">Moreover, under Facebook and Instagram package under the scheme, customers are offered 110MB data at Rs 25 valid for 7 days. Similarly, 230MB data at Rs 50 for 14 days, 500MB data at Rs 100 for 28 days and 1100MB data at Rs 200 for 28 days are also offered by NT.</p>

<p style="text-align: justify;">&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-17',
			'modified' => '2017-05-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5683',
			'image' => '20170517125244_nt.jpg',
			'article_date' => '2017-05-17 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 8 => array(
		'Article' => array(
			'id' => '5897',
			'article_category_id' => '1',
			'title' => 'NRB Facilitate Online Foreign Currency Transaction Reporting',
			'sub_title' => '',
			'summary' => 'May 17: With the launch of online reporting of foreign exchange transaction by Nepal Rastra Bank,   firms dealing with foreign currency trading have been released from the hassle of visiting NRB every now and then.  Now onwards, the firms can submit the foreign currency trading report through online from any convenient locations.',
			'content' => '<p style="text-align: justify;">May 17: With the launch of online reporting of foreign exchange transaction by Nepal Rastra Bank, &nbsp;&nbsp;firms dealing with foreign currency trading have been released from the hassle of visiting NRB every now and then. &nbsp;Now onwards, the firms can submit the foreign currency trading report through online from any convenient locations.</p>

<p style="text-align: justify;">&ldquo;The central bank introduced the online system from mid-April,&rdquo; said Bhisma Raj Dhungana, Executive Director of Foreign Exchange Management Department, NRB. Nearly 5000 foreign currency traders including banks and financial institutions (BFIs) will be benefited by the system. Dhungana opined that the system will ease the report submission and also saves time.</p>

<p style="text-align: justify;">According to Dhungana, the registered traders required to obtain &lsquo;Username&rsquo; and &lsquo;Password&rsquo; from Foreign Exchange Management Department, NRB to enter in the system. NRB has made the online reporting mandatory for the foreign exchange traders. &ldquo;The online service has been launched to make the foreign exchange transaction easy, transparent and manageable. &nbsp;The system will facilitate easy and fast report submission to the traders,&rdquo; he added.</p>

<p style="text-align: justify;">NRB, issuing a notice on May 15, has requested all the related parties to submit their monthly transaction report from the last mid-April through online.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-17',
			'modified' => '2017-05-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5682',
			'image' => '20170517113634_nrb.jpg',
			'article_date' => '2017-05-17 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 9 => array(
		'Article' => array(
			'id' => '5896',
			'article_category_id' => '1',
			'title' => 'Srijana Finance Starts Branch at Enaruwa',
			'sub_title' => '',
			'summary' => 'May 17: Srijana Fainance has started a branch at Enaruwa, Sunsari. Panch Dev Mehta, President of Enaruwa Chamber of Commerce and Industries and Nanda Kishor Rathi, Member of Chamber of Industries, Morang and Director of Srijana Finance jointly inaugurated the branch amid a program on May 15. “Srijana Finance, which has been',
			'content' => '<p style="text-align: justify;">May 17: Srijana Fainance has started a branch at Enaruwa, Sunsari. Panch Dev Mehta, President of Enaruwa Chamber of Commerce and Industries and Nanda Kishor Rathi, Member of Chamber of Industries, Morang and Director of Srijana Finance jointly inaugurated the branch amid a program on May 15. &ldquo;Srijana Finance, which has been serving the customers since 15 years, opened the branch to serve the locals of the area,&rdquo; said Bhawani Shanker Chapagain, CEO of the company.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-17',
			'modified' => '2017-05-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5681',
			'image' => '20170517104921_srijana.jpg',
			'article_date' => '2017-05-17 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 10 => array(
		'Article' => array(
			'id' => '5895',
			'article_category_id' => '1',
			'title' => 'Take Debtors’ Consent First to Raise Interest Rate: NRB',
			'sub_title' => '',
			'summary' => 'May 16: Now, the banks and financial institutions (BFIs) are required to receive consent from the debtors if they are to raise interest rates on loans.',
			'content' => '<p style="text-align: justify;">May 16: Now, the banks and financial institutions (BFIs) are required to receive consent from the debtors if they are to raise interest rates on loans.</p>

<p style="text-align: justify;">&nbsp;The Nepal Rastra Bank (NRB), issuing a circular, barred BFIs from raising interest rates haphazardly without taking consent of the debtors.</p>

<p style="text-align: justify;">However, the BFIs can raise the interest rates on some conditions like failure to pay back interest and principals of loans, as well as if damages are made on collateral and violation of other conditions of loans by the debtors.</p>

<p style="text-align: justify;">Previously, the interest rates of BFIs on various accounts and loans were varied. Thus, the present NRB arrangement is expected to bringing good governance in BFIs and maintain suitable interest rates in loans, said Narayan Prasad Poudel, Spokesperson of NRB.</p>

<p style="text-align: justify;">According to him, the provision was made as per the direction of the Supreme Court to bar the BFIs from raising interest rates haphazardly.</p>

<p style="text-align: justify;">As per the new arrangement, the BFIs can add only a certain percentage on the base interest rate as premium when the debtors apply for new or additional loan.</p>

<p style="text-align: justify;">For the old loans with unmentioned premiums, the difference between interest rate mentioned in the offer letter and the base rate maintained during the release of loan will be the ultimate premium rate. However, if the banks renew the agreement with the debtors, then they can settle a new premium rate.</p>

<p style="text-align: justify;">The NRB has fixed 5 percent as the spread rate of interest to the BFIs. &nbsp;Now the NRB has made arrangements for the BFIs not to maintain more than five percent the average difference of interest rate charged on loans and the interest rates provided on deposits.</p>
',
			'published' => true,
			'created' => '2017-05-16',
			'modified' => '2017-05-16',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5680',
			'image' => '20170516050840_nrb.jpg',
			'article_date' => '2017-05-16 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 11 => array(
		'Article' => array(
			'id' => '5894',
			'article_category_id' => '1',
			'title' => 'Sunrise Bank to Issue 10:3 Right Shares',
			'sub_title' => '',
			'summary' => 'May 16: Sunrise Bank is issuing 10:3 right shares from May 30 to July 3. The bank is issuing 16,359,636 units of right shares with a face value of Rs 100 to its existing shareholders.',
			'content' => '<p style="text-align: justify;">May 16: Sunrise Bank is issuing 10:3 right shares from May 30 to July 3. The bank is issuing 16,359,636 units of right shares with a face value of Rs 100 to its existing shareholders.</p>

<p style="text-align: justify;">According to the bank, shareholders registered in the book by May 14 can apply for the right share.&nbsp; The bank has appointed Prabhu Capital Ltd as its issue manager. The interested shareholders can apply for the right share through Pabhu Capital as well as all the branches of Sunrise Bank.</p>

<p style="text-align: justify;">After the issuance of right shares, the paid-up capital of the bank will reach Rs 7.08 billion. The bank earned Rs 865.2 million net profit by the last mid-April.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-16',
			'modified' => '2017-05-16',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5679',
			'image' => '20170516020444_sunrise.jpg',
			'article_date' => '2017-05-16 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 12 => array(
		'Article' => array(
			'id' => '5893',
			'article_category_id' => '1',
			'title' => 'Dugar Launches 3 Products under ‘Gyan’',
			'sub_title' => '',
			'summary' => 'May 16: KL Dugar Group has brought three new products under ‘Gyan’ brand.  The company launched Gyan Maize Atta, Gyan Maize Grit and Gyan Premium Lito (baby food) in the market. Issuing a press statement, the company said that the products are available in 5kg and 2kg packages in nationwide major departmental store and retailers. ',
			'content' => '<p style="text-align: justify;">May 16: KL Dugar Group has brought three new products under &lsquo;Gyan&rsquo; brand. &nbsp;The company launched Gyan Maize Atta, Gyan Maize Grit and Gyan Premium Lito (baby food) in the market. Issuing a press statement, the company said that the products are available in 5kg and 2kg packages in nationwide major departmental store and retailers. &nbsp;</p>

<p style="text-align: justify;">According to the company, Gyan Maize Atta which is manufactured by yellow and white maize contains fibers and proteins. Similarly, Gyan Maize Grit is low in fat, sodium, gluten free and contains rich dietary fiber.</p>

<p style="text-align: justify;">Likewise, Gyan Premim Lito that is manufactured by the mixture of wheat, rice and soya contains milk powder, sugar, corn oil and fortified with 16 vitamins and micronutrients. The Gyan Premium Lito is suitable for the infants above six months, said the company in a press statement.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-16',
			'modified' => '2017-05-16',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5678',
			'image' => '20170516010307_gyan.jpg',
			'article_date' => '2017-05-16 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 13 => array(
		'Article' => array(
			'id' => '5892',
			'article_category_id' => '1',
			'title' => 'Sanima Bank to Provide ASBA and Demat Services Thru Online',
			'sub_title' => '',
			'summary' => 'May 16: Sanima Bank has introduced online ASBA and Demat services. In a bid to provide convenient ASBA and Demat services to the customers, the bank started the online services from May 15. The customers can receive the services by taking internet banking services from the bank, said the bank in a press statement. ',
			'content' => '<p style="text-align: justify;">May 16: Sanima Bank has introduced online ASBA and Demat services. In a bid to provide convenient ASBA and Demat services to the customers, the bank started the online services from May 15. The customers can receive the services by taking internet banking services from the bank, said the bank in a press statement.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-16',
			'modified' => '2017-05-16',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5677',
			'image' => '20170516115845_sanima.jpg',
			'article_date' => '2017-05-16 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 14 => array(
		'Article' => array(
			'id' => '5891',
			'article_category_id' => '1',
			'title' => 'Machhapuchchhre Chairman Takes Oath in front of Governor',
			'sub_title' => '',
			'summary' => 'May 16: Roshan KC, the newly appointed chairman of Machhapuchchhre Bank has taken oath in front of Dr Chiranjibi Nepal, Governor of Nepal Rastra Bank. KC took oath as per the provision of banks and financial institutions Act 2073.',
			'content' => '<p style="text-align: justify;">May 16: Roshan KC, the newly appointed chairman of Machhapuchchhre Bank has taken oath in front of Dr Chiranjibi Nepal, Governor of Nepal Rastra Bank. KC took oath as per the provision of banks and financial institutions Act 2073.</p>

<p style="text-align: justify;">KC was elected as chairman of the bank during the board of directors&rsquo; meeting on April 27.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-16',
			'modified' => '2017-05-16',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5676',
			'image' => '20170516113511_macha.jpg',
			'article_date' => '2017-05-16 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	)
)
$current_user = null
$logged_in = false
simplexml_load_file - [internal], line ??
include - APP/View/Elements/side_bar.ctp, line 60
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/index.ctp, line 157
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117

Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]
Code Context
  //  $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';



    if(!$xml = simplexml_load_file($file)){
$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp'
$dataForView = array(
	'articles' => array(
		(int) 0 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 1 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 2 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 3 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 4 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 5 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 6 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 7 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 8 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 9 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 10 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 11 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 12 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 13 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 14 => array(
			'Article' => array(
				[maximum depth reached]
			)
		)
	),
	'current_user' => null,
	'logged_in' => false
)
$articles = array(
	(int) 0 => array(
		'Article' => array(
			'id' => '5905',
			'article_category_id' => '1',
			'title' => 'Cyber Law in the offing',
			'sub_title' => '',
			'summary' => 'May 18: Nepal Telecommunication Authority has started working on cyber law formulation. According to Digambar Jha, Chairman of NEA, policies and strategies related with cyber law has already been set and NEA, with a support of ITU, has already initiated the process of formulating the cyber law. “Presently, many worldwide countries',
			'content' => '<p style="text-align:justify">May 18: Nepal Telecommunication Authority has started working on cyber law formulation. According to Digambar Jha, Chairman of NEA, policies and strategies related with cyber law has already been set and NEA, with a support of ITU, has already initiated the process of formulating the cyber law. &ldquo;Presently, many worldwide countries are going through cyber security threats. Thus cyber law is essential to prevent any cyber threats and assure cyber security to general people,&rdquo; Jha said.</p>

<p style="text-align:justify">Meanwhile, NEA is supporting Nepal police in building digital forensic lab. NEA is providing financial support to purchase required equipments for the lab. Jha informed that in a bid to utilize and manage the same lab for cyber crimes investigation, NEA is extending its support to Nepal Police.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-18',
			'modified' => '2017-05-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5690',
			'image' => '20170518030145_cyber.jpg',
			'article_date' => '2017-05-18 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 1 => array(
		'Article' => array(
			'id' => '5904',
			'article_category_id' => '1',
			'title' => 'Finance Ministry Approves License of 10 Life Insurance Companies',
			'sub_title' => '',
			'summary' => 'May 18: Ministry of Finance has approved of providing license to 10 new life insurance companies. Krishna Bahadur Mahara, Deputy Prime Minister and Finance Minister of Nepal approved Insurance Board (IB) to grant license to 10 out of 12 life insurance companies on May 17.',
			'content' => '<p style="text-align: justify;">May 18: Ministry of Finance has approved of providing license to 10 new life insurance companies. Krishna Bahadur Mahara, Deputy Prime Minister and Finance Minister of Nepal approved Insurance Board (IB) to grant license to 10 out of 12 life insurance companies on May 17.</p>

<p style="text-align: justify;">The to-be established new insurance companies required to have paid-up capital of Rs 2 billion. After the licensing of 10 new companies, Nepal will have 19 life insurance companies. Presently, nine insurance companies are operating in Nepal. According to Finance Minister, it approved license of Reliable Life Insurance, Citizen Life Insurance, Star Life Insurance, Reliance Life Insurance, Sun Life Insurance, IME Life Insurance, Mahalaxmi Life Insurance, Jyoti Life Insurance, Sanima Life Insurance and Union Life Insurance.</p>

<p style="text-align: justify;">Similarly, according to Insurance Board, five non-life insurance are also waiting for their license. With the additions, number of non-life insurance will reach 22.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-18',
			'modified' => '2017-05-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5689',
			'image' => '20170518022203_finance-ministry.jpg',
			'article_date' => '2017-05-18 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 2 => array(
		'Article' => array(
			'id' => '5903',
			'article_category_id' => '1',
			'title' => 'Upper Tamakoshi Hydropower Concludes 9th AGM',
			'sub_title' => '',
			'summary' => 'May 18: Upper Tamakoshi Hydropower Company Ltd has concluded its 9th annual general meeting on May 17. The meeting endorsed the annual report and financial report of the FY 2072/73 presented by Kul Man Ghising, Chairman of the company. The meeting also approved the appointment and fee of auditor for the FY 207',
			'content' => '<p style="text-align: justify;">May 18: Upper Tamakoshi Hydropower Company Ltd has concluded its 9<sup>th</sup> annual general meeting on May 17. The meeting endorsed the annual report and financial report of the FY 2072/73 presented by Kul Man Ghising, Chairman of the company. The meeting also approved the appointment and fee of auditor for the FY 2073/74.&nbsp; As per the decision, two auditors will be appointed in the company. They will be paid Rs 250,000 each as a fee.</p>

<p style="text-align: justify;">The company was established on 2063 BS to construct, operate and manage the Upper Tamakoshi Hydropower Project. The main objective of the company was to minimize power shortage by building the national priority project of 456 MW within 2073/74. As per the plan, nearly 79 percent work was completed by mid-April 2015. However, the devastating earthquake of 25 April 2015 followed by the Terai unrest badly affected the project. As a result, only 87 percent of the work was completed by the second quarter of the current FY 2073/74, informs the company.</p>

<p style="text-align: justify;">In the AGM, Chairman Ghising directed the company officials to build at least one unit within June 2018. &ldquo;The board of directors is also exerting to complete the project within stipulated time frame,&rdquo; he said.</p>

<p style="text-align: justify;">&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-18',
			'modified' => '2017-05-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5688',
			'image' => '20170518020614_upper tamakoshi.jpg',
			'article_date' => '2017-05-18 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 3 => array(
		'Article' => array(
			'id' => '5902',
			'article_category_id' => '1',
			'title' => 'Capital Expenditures Doubles in Current FY',
			'sub_title' => '',
			'summary' => 'May 18: In the first nine months of the current FY, the government has spend Rs 74.09 billion on development projects, shows a report of Nepal Rastra Bank. According to the report ‘Current Macroeconomic and Financial Situation of Nepal’ that is based on nine months’ data of the economy, the figure is 23.75 percent of the total allocated budget of capital expenditure.',
			'content' => '<p style="text-align: justify;">May 18: In the first nine months of the current FY, the government has spend Rs 74.09 billion on development projects, shows a report of Nepal Rastra Bank. According to the report &lsquo;Current Macroeconomic and Financial Situation of Nepal&rsquo; that is based on nine months&rsquo; data of the economy, the figure is 23.75 percent of the total allocated budget of capital expenditure.</p>

<p style="text-align: justify;">The capital expenditure which gives returns in future was Rs 32.44 billion in the first nine months of the last FY. As per the NRB statistics, the government spent more than twice on the capital expenditure in the review period of the current FY compared to the corresponding period of the last FY. &nbsp;Economists opined that given that the government make enormous investment in the capital expenditure and continues it, economic activities will increase which will eventually accelerate development process in the country.</p>

<p style="text-align: justify;">&ldquo;Boost in capital expenditure opens door of opportunities,&rdquo; opined Daya Ram Pandey, an economist. &ldquo;Growth in economic activities will lead to new employment opportunities, citizens will earn both name and fame,&rdquo; said Pandey, &ldquo;Increase in capital investment provides positive result to economy.&rdquo;</p>

<p style="text-align: justify;">In the review period, the total government expenditure on a cash basis increased 46.6 percent to Rs 419.93 billion. Such expenditure had increased just 8 percent to Rs 286.54 billion in the corresponding period of the previous year.</p>

<p style="text-align: justify;">Apart from capital expenditure, the recurrent expenditure increased 44.6 percent to Rs 305.77 billion in the review period. &nbsp;Such expenditure stood at Rs 211.44 billion in the corresponding period of the previous year.</p>
',
			'published' => true,
			'created' => '2017-05-18',
			'modified' => '2017-05-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5687',
			'image' => '20170518122710_cap.JPG',
			'article_date' => '2017-05-18 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 4 => array(
		'Article' => array(
			'id' => '5901',
			'article_category_id' => '1',
			'title' => 'iPhone Slashes Price in Nepali Market',
			'sub_title' => '',
			'summary' => 'May 18: iPhone has slashed price of its products in the Nepali market.  Generation Next Communication, the authorized distributor of iPhone for Nepal informed of the price reduction in Nepal. According to the company, iPhone 7 32GB in Black has been priced Rs 86,000 after the price slash.',
			'content' => '<p style="text-align: justify;">May 18: iPhone has slashed price of its products in the Nepali market. &nbsp;Generation Next Communication, the authorized distributor of iPhone for Nepal informed of the price reduction in Nepal. According to the company, iPhone 7 32GB in Black has been priced Rs 86,000 after the price slash.</p>

<p style="text-align: justify;">Similalry, iPhone 7 128GB Gold, Rose Gold, Black, Jet Black and Red has been priced Rs 99,800. Likewise, iPhone 7 256GB has been priced Rs 112,000, iPhone 7 plus 32GB has been priced Rs 105,000 and iPhone 7 plus 128GB has been priced Rs 119,000.</p>

<p style="text-align: justify;">As per the company, the customers can now purchase iPhone 7 plus 256GB at Rs 132,000. In case of iPhone 6, customers can purchase iPhone6 64GB at Rs 68,000, 128GB at Rs 78,000 and SE 64GB at Rs 52,500. Likewise, iPhone 6S 32GB can be purchased at Rs 72,800 and iPad Pro 6.7 with smart keyboard can be purchased at Rs 17,500.</p>

<p style="text-align: justify;">Additionally, the company is providing free Ncell data &nbsp;of 1GB per month for six months along with one back cover and tempered glass on iPhone 7 and 7 Plus. The iPhone products are available in monthly installment too, said the company.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-18',
			'modified' => '2017-05-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5686',
			'image' => '20170518110617_iphone.jpg',
			'article_date' => '2017-05-18 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 5 => array(
		'Article' => array(
			'id' => '5900',
			'article_category_id' => '1',
			'title' => 'NIC Asia Bank Starts 9 Branches At Once',
			'sub_title' => '',
			'summary' => 'May 18: NIC Asia has opened nine new branches on a single day. The bank inaugurated the branches organizing separate programs on May 17. With the additions, the number of branches has reached 107.',
			'content' => '<p style="text-align: justify;">May 18: NIC Asia has opened nine new branches on a single day. The bank inaugurated the branches organizing separate programs on May 17. With the additions, the number of branches has reached 107.</p>

<p style="text-align: justify;">Among the new branches, Sauraha Pharsatikar branch was inaugurated by Surendra Prasad Shrestha, central member of Federation of Nepalese Chamber of Commerce and Industries (FNCCI). Similarly, Dhakdhahi branch was inaugurated by Krishna Prasad Sharma, another central member of FNCCI. Likewise, Bhumahi branch was inaugurated by Bhim Bahadur Thapa, yet another central member of FNCCI and Bansgadhi branch was inaugurated by Guru Prasad Poudel, Director of Nepal Rastra Bank (NRB), Nepalgunj branch. Moreover, Parsa branch was inaugurated by Guna Raj Shrestha, President of Khairahani Chamber of Commerce and Industries and Tandi branch was inaugurated by Gyan Bahadur Bisural, President of Ratnanagar Chamber of Commerce and Industries.</p>

<p style="text-align: justify;">Furthermore, Dulegauda and Bhimad branch were inaugurated by Krishna Raj Pandit, President of Tanahun Chamber of Commerce and Industries and Hakim Chowk branch was inaugurated by Rajan Gautam, President of Chitwan Chamber of Commerce and Industries.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-18',
			'modified' => '2017-05-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5685',
			'image' => '20170518104014_NIC.jpg',
			'article_date' => '2017-05-18 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 6 => array(
		'Article' => array(
			'id' => '5899',
			'article_category_id' => '1',
			'title' => 'Implementation of Clean Feed Policy Faces Challenges',
			'sub_title' => '',
			'summary' => 'May 17: In a bid to prohibit foreign pay television channels to run advertisement from coming July 16, the government approved ‘Clean Feed Policy’ on last July 22. The government announced the policy to be implemented in both free and pay foreign television channels. However, with the nearing implementation phase of the policy, execution of the policy seems challenging.',
			'content' => '<p style="text-align: justify;">May 17: In a bid to prohibit foreign pay television channels to run advertisement from coming July 16, the government approved &lsquo;Clean Feed Policy&rsquo; on last July 22. The government announced the policy to be implemented in both free and pay foreign television channels. However, with the nearing implementation phase of the policy, execution of the policy seems challenging.</p>

<p style="text-align: justify;">Presently, Nepal broadcasts nearly 150 foreign channels through downlink. Apart from programs, these channels also broadcast advertisement freely.&nbsp; Although the government collects revenue from advertisement broadcasted from domestic channels, foreign channels, however, do not need to pay such revenue. This has caused big losses not only to state but also to domestic advertisement industries. Thus the policy has ended the vacuum hanging above clean feed policy in Nepali television sector.</p>

<p style="text-align: justify;">Although few television channels that are being broadcasted from Singapore are advertisement free, majority of foreign channels broadcast advertisement too. As per international practices, pay foreign channels needs to be advertisement free to be broadcasted in any national territory.</p>

<p style="text-align: justify;">The advertisement broadcasted in such foreign TV channels are irrelevant to the government, public, domestic broadcasting company and advertisement market. Moreover, it also negatively affect legal and cultural sector of any particular country. In a bid to end such circumstances, the government is implementing clean feed broadcast of foreign TV channels in Nepal.</p>

<p style="text-align: justify;">In order to implement the clean feed policy, the government formulated a suggestion committee on the last February 13 to suggest technical, legal and organizational mechanism. The committee, however, surpassed the deadline of three weeks given to submit a report on the policy.</p>

<p style="text-align: justify;">Implementation of the policy will lead to market expansion for domestic advertisement agencies and television channels. Along with the expansion of advertisement industries, government revenue will also increase. Nevertheless, the committee predicts that the signal price of foreign channels might increase in the course.</p>

<p style="text-align: justify;">The preliminary report also points out that time frame of foreign TV channels may not go parallel with Nepali time as the channels needs to block advertisement.</p>

<p style="text-align: justify;">Similarly, few television channels distributed by foreign broadcaster might close due to inability of preparing clean feed for Nepal.</p>

<p style="text-align: justify;">&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-17',
			'modified' => '2017-05-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5684',
			'image' => '20170517030327_clean feed.jpg',
			'article_date' => '2017-05-17 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 7 => array(
		'Article' => array(
			'id' => '5898',
			'article_category_id' => '1',
			'title' => 'NT Announces Various Schemes on Telecommunication Day',
			'sub_title' => '',
			'summary' => 'May 17: Nepal Telecom (NT) has announced various promotional schemes on the occasion of World Telecommunication and Information Society Day and 100th anniversary of telephone service in Nepal. Issuing a press statement, the company said that the offer that is available to GSM and CDMA mobile services will last till August 12.',
			'content' => '<p style="text-align: justify;">May 17: Nepal Telecom (NT) has announced various promotional schemes on the occasion of World Telecommunication and Information Society Day and 100<sup>th</sup> anniversary of telephone service in Nepal. Issuing a press statement, the company said that the offer that is available to GSM and CDMA mobile services will last till August 12.</p>

<p style="text-align: justify;">Under the scheme, customers of GSM services are offered 4G data packages. Similarly, customers of CDMA services are offered all time data packages and night data packages.</p>

<p style="text-align: justify;">Under the 4G data package, NT has offered 200MB data pack at Rs 50 valid for 7 days and 500MB data pack at Rs 100 valid for 14 days. Similarly, customers can also choose from 1200MB data pack at Rs 200 valid for 28 days, 2000MB data at Rs 300 valid for 28 days and 3600MB data at Rs 500 for 28 days. In order to purchase a data pack, customers will have to type the required data pack and SMS to 1415.</p>

<p style="text-align: justify;">Similarly, under all time data pack, small data packs have been added under which customers are offered 60MB data at Rs 25 valid for 7 days. NT also offered 125MB data at Rs 50 valid for 14 days and 400MB data at Rs 100 valid for 30 days. Moreover, the customers can also purchase 850MB data at Rs 200 valid for 30 days and 1500MB data at Rs 300 valid for 30 days. Customers can type the required data pack and SMS to 1415 to purchase a data pack.</p>

<p style="text-align: justify;">Likewise, under night data pack, NT is offering 3GB data at Rs 200 and 6.5GB data at Rs 300 applicable from 10 pm to 6 am.</p>

<p style="text-align: justify;">Moreover, under Facebook and Instagram package under the scheme, customers are offered 110MB data at Rs 25 valid for 7 days. Similarly, 230MB data at Rs 50 for 14 days, 500MB data at Rs 100 for 28 days and 1100MB data at Rs 200 for 28 days are also offered by NT.</p>

<p style="text-align: justify;">&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-17',
			'modified' => '2017-05-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5683',
			'image' => '20170517125244_nt.jpg',
			'article_date' => '2017-05-17 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 8 => array(
		'Article' => array(
			'id' => '5897',
			'article_category_id' => '1',
			'title' => 'NRB Facilitate Online Foreign Currency Transaction Reporting',
			'sub_title' => '',
			'summary' => 'May 17: With the launch of online reporting of foreign exchange transaction by Nepal Rastra Bank,   firms dealing with foreign currency trading have been released from the hassle of visiting NRB every now and then.  Now onwards, the firms can submit the foreign currency trading report through online from any convenient locations.',
			'content' => '<p style="text-align: justify;">May 17: With the launch of online reporting of foreign exchange transaction by Nepal Rastra Bank, &nbsp;&nbsp;firms dealing with foreign currency trading have been released from the hassle of visiting NRB every now and then. &nbsp;Now onwards, the firms can submit the foreign currency trading report through online from any convenient locations.</p>

<p style="text-align: justify;">&ldquo;The central bank introduced the online system from mid-April,&rdquo; said Bhisma Raj Dhungana, Executive Director of Foreign Exchange Management Department, NRB. Nearly 5000 foreign currency traders including banks and financial institutions (BFIs) will be benefited by the system. Dhungana opined that the system will ease the report submission and also saves time.</p>

<p style="text-align: justify;">According to Dhungana, the registered traders required to obtain &lsquo;Username&rsquo; and &lsquo;Password&rsquo; from Foreign Exchange Management Department, NRB to enter in the system. NRB has made the online reporting mandatory for the foreign exchange traders. &ldquo;The online service has been launched to make the foreign exchange transaction easy, transparent and manageable. &nbsp;The system will facilitate easy and fast report submission to the traders,&rdquo; he added.</p>

<p style="text-align: justify;">NRB, issuing a notice on May 15, has requested all the related parties to submit their monthly transaction report from the last mid-April through online.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-17',
			'modified' => '2017-05-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5682',
			'image' => '20170517113634_nrb.jpg',
			'article_date' => '2017-05-17 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 9 => array(
		'Article' => array(
			'id' => '5896',
			'article_category_id' => '1',
			'title' => 'Srijana Finance Starts Branch at Enaruwa',
			'sub_title' => '',
			'summary' => 'May 17: Srijana Fainance has started a branch at Enaruwa, Sunsari. Panch Dev Mehta, President of Enaruwa Chamber of Commerce and Industries and Nanda Kishor Rathi, Member of Chamber of Industries, Morang and Director of Srijana Finance jointly inaugurated the branch amid a program on May 15. “Srijana Finance, which has been',
			'content' => '<p style="text-align: justify;">May 17: Srijana Fainance has started a branch at Enaruwa, Sunsari. Panch Dev Mehta, President of Enaruwa Chamber of Commerce and Industries and Nanda Kishor Rathi, Member of Chamber of Industries, Morang and Director of Srijana Finance jointly inaugurated the branch amid a program on May 15. &ldquo;Srijana Finance, which has been serving the customers since 15 years, opened the branch to serve the locals of the area,&rdquo; said Bhawani Shanker Chapagain, CEO of the company.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-17',
			'modified' => '2017-05-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5681',
			'image' => '20170517104921_srijana.jpg',
			'article_date' => '2017-05-17 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 10 => array(
		'Article' => array(
			'id' => '5895',
			'article_category_id' => '1',
			'title' => 'Take Debtors’ Consent First to Raise Interest Rate: NRB',
			'sub_title' => '',
			'summary' => 'May 16: Now, the banks and financial institutions (BFIs) are required to receive consent from the debtors if they are to raise interest rates on loans.',
			'content' => '<p style="text-align: justify;">May 16: Now, the banks and financial institutions (BFIs) are required to receive consent from the debtors if they are to raise interest rates on loans.</p>

<p style="text-align: justify;">&nbsp;The Nepal Rastra Bank (NRB), issuing a circular, barred BFIs from raising interest rates haphazardly without taking consent of the debtors.</p>

<p style="text-align: justify;">However, the BFIs can raise the interest rates on some conditions like failure to pay back interest and principals of loans, as well as if damages are made on collateral and violation of other conditions of loans by the debtors.</p>

<p style="text-align: justify;">Previously, the interest rates of BFIs on various accounts and loans were varied. Thus, the present NRB arrangement is expected to bringing good governance in BFIs and maintain suitable interest rates in loans, said Narayan Prasad Poudel, Spokesperson of NRB.</p>

<p style="text-align: justify;">According to him, the provision was made as per the direction of the Supreme Court to bar the BFIs from raising interest rates haphazardly.</p>

<p style="text-align: justify;">As per the new arrangement, the BFIs can add only a certain percentage on the base interest rate as premium when the debtors apply for new or additional loan.</p>

<p style="text-align: justify;">For the old loans with unmentioned premiums, the difference between interest rate mentioned in the offer letter and the base rate maintained during the release of loan will be the ultimate premium rate. However, if the banks renew the agreement with the debtors, then they can settle a new premium rate.</p>

<p style="text-align: justify;">The NRB has fixed 5 percent as the spread rate of interest to the BFIs. &nbsp;Now the NRB has made arrangements for the BFIs not to maintain more than five percent the average difference of interest rate charged on loans and the interest rates provided on deposits.</p>
',
			'published' => true,
			'created' => '2017-05-16',
			'modified' => '2017-05-16',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5680',
			'image' => '20170516050840_nrb.jpg',
			'article_date' => '2017-05-16 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 11 => array(
		'Article' => array(
			'id' => '5894',
			'article_category_id' => '1',
			'title' => 'Sunrise Bank to Issue 10:3 Right Shares',
			'sub_title' => '',
			'summary' => 'May 16: Sunrise Bank is issuing 10:3 right shares from May 30 to July 3. The bank is issuing 16,359,636 units of right shares with a face value of Rs 100 to its existing shareholders.',
			'content' => '<p style="text-align: justify;">May 16: Sunrise Bank is issuing 10:3 right shares from May 30 to July 3. The bank is issuing 16,359,636 units of right shares with a face value of Rs 100 to its existing shareholders.</p>

<p style="text-align: justify;">According to the bank, shareholders registered in the book by May 14 can apply for the right share.&nbsp; The bank has appointed Prabhu Capital Ltd as its issue manager. The interested shareholders can apply for the right share through Pabhu Capital as well as all the branches of Sunrise Bank.</p>

<p style="text-align: justify;">After the issuance of right shares, the paid-up capital of the bank will reach Rs 7.08 billion. The bank earned Rs 865.2 million net profit by the last mid-April.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-16',
			'modified' => '2017-05-16',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5679',
			'image' => '20170516020444_sunrise.jpg',
			'article_date' => '2017-05-16 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 12 => array(
		'Article' => array(
			'id' => '5893',
			'article_category_id' => '1',
			'title' => 'Dugar Launches 3 Products under ‘Gyan’',
			'sub_title' => '',
			'summary' => 'May 16: KL Dugar Group has brought three new products under ‘Gyan’ brand.  The company launched Gyan Maize Atta, Gyan Maize Grit and Gyan Premium Lito (baby food) in the market. Issuing a press statement, the company said that the products are available in 5kg and 2kg packages in nationwide major departmental store and retailers. ',
			'content' => '<p style="text-align: justify;">May 16: KL Dugar Group has brought three new products under &lsquo;Gyan&rsquo; brand. &nbsp;The company launched Gyan Maize Atta, Gyan Maize Grit and Gyan Premium Lito (baby food) in the market. Issuing a press statement, the company said that the products are available in 5kg and 2kg packages in nationwide major departmental store and retailers. &nbsp;</p>

<p style="text-align: justify;">According to the company, Gyan Maize Atta which is manufactured by yellow and white maize contains fibers and proteins. Similarly, Gyan Maize Grit is low in fat, sodium, gluten free and contains rich dietary fiber.</p>

<p style="text-align: justify;">Likewise, Gyan Premim Lito that is manufactured by the mixture of wheat, rice and soya contains milk powder, sugar, corn oil and fortified with 16 vitamins and micronutrients. The Gyan Premium Lito is suitable for the infants above six months, said the company in a press statement.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-16',
			'modified' => '2017-05-16',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5678',
			'image' => '20170516010307_gyan.jpg',
			'article_date' => '2017-05-16 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 13 => array(
		'Article' => array(
			'id' => '5892',
			'article_category_id' => '1',
			'title' => 'Sanima Bank to Provide ASBA and Demat Services Thru Online',
			'sub_title' => '',
			'summary' => 'May 16: Sanima Bank has introduced online ASBA and Demat services. In a bid to provide convenient ASBA and Demat services to the customers, the bank started the online services from May 15. The customers can receive the services by taking internet banking services from the bank, said the bank in a press statement. ',
			'content' => '<p style="text-align: justify;">May 16: Sanima Bank has introduced online ASBA and Demat services. In a bid to provide convenient ASBA and Demat services to the customers, the bank started the online services from May 15. The customers can receive the services by taking internet banking services from the bank, said the bank in a press statement.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-16',
			'modified' => '2017-05-16',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5677',
			'image' => '20170516115845_sanima.jpg',
			'article_date' => '2017-05-16 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 14 => array(
		'Article' => array(
			'id' => '5891',
			'article_category_id' => '1',
			'title' => 'Machhapuchchhre Chairman Takes Oath in front of Governor',
			'sub_title' => '',
			'summary' => 'May 16: Roshan KC, the newly appointed chairman of Machhapuchchhre Bank has taken oath in front of Dr Chiranjibi Nepal, Governor of Nepal Rastra Bank. KC took oath as per the provision of banks and financial institutions Act 2073.',
			'content' => '<p style="text-align: justify;">May 16: Roshan KC, the newly appointed chairman of Machhapuchchhre Bank has taken oath in front of Dr Chiranjibi Nepal, Governor of Nepal Rastra Bank. KC took oath as per the provision of banks and financial institutions Act 2073.</p>

<p style="text-align: justify;">KC was elected as chairman of the bank during the board of directors&rsquo; meeting on April 27.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-16',
			'modified' => '2017-05-16',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5676',
			'image' => '20170516113511_macha.jpg',
			'article_date' => '2017-05-16 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	)
)
$current_user = null
$logged_in = false
$xml = false
include - APP/View/Elements/side_bar.ctp, line 133
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/index.ctp, line 157
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117

Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity &quot;&quot; [APP/View/Elements/side_bar.ctp, line 133]
Code Context
  //  $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';



    if(!$xml = simplexml_load_file($file)){
$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp'
$dataForView = array(
	'articles' => array(
		(int) 0 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 1 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 2 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 3 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 4 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 5 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 6 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 7 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 8 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 9 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 10 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 11 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 12 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 13 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 14 => array(
			'Article' => array(
				[maximum depth reached]
			)
		)
	),
	'current_user' => null,
	'logged_in' => false
)
$articles = array(
	(int) 0 => array(
		'Article' => array(
			'id' => '5905',
			'article_category_id' => '1',
			'title' => 'Cyber Law in the offing',
			'sub_title' => '',
			'summary' => 'May 18: Nepal Telecommunication Authority has started working on cyber law formulation. According to Digambar Jha, Chairman of NEA, policies and strategies related with cyber law has already been set and NEA, with a support of ITU, has already initiated the process of formulating the cyber law. “Presently, many worldwide countries',
			'content' => '<p style="text-align:justify">May 18: Nepal Telecommunication Authority has started working on cyber law formulation. According to Digambar Jha, Chairman of NEA, policies and strategies related with cyber law has already been set and NEA, with a support of ITU, has already initiated the process of formulating the cyber law. &ldquo;Presently, many worldwide countries are going through cyber security threats. Thus cyber law is essential to prevent any cyber threats and assure cyber security to general people,&rdquo; Jha said.</p>

<p style="text-align:justify">Meanwhile, NEA is supporting Nepal police in building digital forensic lab. NEA is providing financial support to purchase required equipments for the lab. Jha informed that in a bid to utilize and manage the same lab for cyber crimes investigation, NEA is extending its support to Nepal Police.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-18',
			'modified' => '2017-05-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5690',
			'image' => '20170518030145_cyber.jpg',
			'article_date' => '2017-05-18 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 1 => array(
		'Article' => array(
			'id' => '5904',
			'article_category_id' => '1',
			'title' => 'Finance Ministry Approves License of 10 Life Insurance Companies',
			'sub_title' => '',
			'summary' => 'May 18: Ministry of Finance has approved of providing license to 10 new life insurance companies. Krishna Bahadur Mahara, Deputy Prime Minister and Finance Minister of Nepal approved Insurance Board (IB) to grant license to 10 out of 12 life insurance companies on May 17.',
			'content' => '<p style="text-align: justify;">May 18: Ministry of Finance has approved of providing license to 10 new life insurance companies. Krishna Bahadur Mahara, Deputy Prime Minister and Finance Minister of Nepal approved Insurance Board (IB) to grant license to 10 out of 12 life insurance companies on May 17.</p>

<p style="text-align: justify;">The to-be established new insurance companies required to have paid-up capital of Rs 2 billion. After the licensing of 10 new companies, Nepal will have 19 life insurance companies. Presently, nine insurance companies are operating in Nepal. According to Finance Minister, it approved license of Reliable Life Insurance, Citizen Life Insurance, Star Life Insurance, Reliance Life Insurance, Sun Life Insurance, IME Life Insurance, Mahalaxmi Life Insurance, Jyoti Life Insurance, Sanima Life Insurance and Union Life Insurance.</p>

<p style="text-align: justify;">Similarly, according to Insurance Board, five non-life insurance are also waiting for their license. With the additions, number of non-life insurance will reach 22.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-18',
			'modified' => '2017-05-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5689',
			'image' => '20170518022203_finance-ministry.jpg',
			'article_date' => '2017-05-18 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 2 => array(
		'Article' => array(
			'id' => '5903',
			'article_category_id' => '1',
			'title' => 'Upper Tamakoshi Hydropower Concludes 9th AGM',
			'sub_title' => '',
			'summary' => 'May 18: Upper Tamakoshi Hydropower Company Ltd has concluded its 9th annual general meeting on May 17. The meeting endorsed the annual report and financial report of the FY 2072/73 presented by Kul Man Ghising, Chairman of the company. The meeting also approved the appointment and fee of auditor for the FY 207',
			'content' => '<p style="text-align: justify;">May 18: Upper Tamakoshi Hydropower Company Ltd has concluded its 9<sup>th</sup> annual general meeting on May 17. The meeting endorsed the annual report and financial report of the FY 2072/73 presented by Kul Man Ghising, Chairman of the company. The meeting also approved the appointment and fee of auditor for the FY 2073/74.&nbsp; As per the decision, two auditors will be appointed in the company. They will be paid Rs 250,000 each as a fee.</p>

<p style="text-align: justify;">The company was established on 2063 BS to construct, operate and manage the Upper Tamakoshi Hydropower Project. The main objective of the company was to minimize power shortage by building the national priority project of 456 MW within 2073/74. As per the plan, nearly 79 percent work was completed by mid-April 2015. However, the devastating earthquake of 25 April 2015 followed by the Terai unrest badly affected the project. As a result, only 87 percent of the work was completed by the second quarter of the current FY 2073/74, informs the company.</p>

<p style="text-align: justify;">In the AGM, Chairman Ghising directed the company officials to build at least one unit within June 2018. &ldquo;The board of directors is also exerting to complete the project within stipulated time frame,&rdquo; he said.</p>

<p style="text-align: justify;">&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-18',
			'modified' => '2017-05-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5688',
			'image' => '20170518020614_upper tamakoshi.jpg',
			'article_date' => '2017-05-18 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 3 => array(
		'Article' => array(
			'id' => '5902',
			'article_category_id' => '1',
			'title' => 'Capital Expenditures Doubles in Current FY',
			'sub_title' => '',
			'summary' => 'May 18: In the first nine months of the current FY, the government has spend Rs 74.09 billion on development projects, shows a report of Nepal Rastra Bank. According to the report ‘Current Macroeconomic and Financial Situation of Nepal’ that is based on nine months’ data of the economy, the figure is 23.75 percent of the total allocated budget of capital expenditure.',
			'content' => '<p style="text-align: justify;">May 18: In the first nine months of the current FY, the government has spend Rs 74.09 billion on development projects, shows a report of Nepal Rastra Bank. According to the report &lsquo;Current Macroeconomic and Financial Situation of Nepal&rsquo; that is based on nine months&rsquo; data of the economy, the figure is 23.75 percent of the total allocated budget of capital expenditure.</p>

<p style="text-align: justify;">The capital expenditure which gives returns in future was Rs 32.44 billion in the first nine months of the last FY. As per the NRB statistics, the government spent more than twice on the capital expenditure in the review period of the current FY compared to the corresponding period of the last FY. &nbsp;Economists opined that given that the government make enormous investment in the capital expenditure and continues it, economic activities will increase which will eventually accelerate development process in the country.</p>

<p style="text-align: justify;">&ldquo;Boost in capital expenditure opens door of opportunities,&rdquo; opined Daya Ram Pandey, an economist. &ldquo;Growth in economic activities will lead to new employment opportunities, citizens will earn both name and fame,&rdquo; said Pandey, &ldquo;Increase in capital investment provides positive result to economy.&rdquo;</p>

<p style="text-align: justify;">In the review period, the total government expenditure on a cash basis increased 46.6 percent to Rs 419.93 billion. Such expenditure had increased just 8 percent to Rs 286.54 billion in the corresponding period of the previous year.</p>

<p style="text-align: justify;">Apart from capital expenditure, the recurrent expenditure increased 44.6 percent to Rs 305.77 billion in the review period. &nbsp;Such expenditure stood at Rs 211.44 billion in the corresponding period of the previous year.</p>
',
			'published' => true,
			'created' => '2017-05-18',
			'modified' => '2017-05-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5687',
			'image' => '20170518122710_cap.JPG',
			'article_date' => '2017-05-18 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 4 => array(
		'Article' => array(
			'id' => '5901',
			'article_category_id' => '1',
			'title' => 'iPhone Slashes Price in Nepali Market',
			'sub_title' => '',
			'summary' => 'May 18: iPhone has slashed price of its products in the Nepali market.  Generation Next Communication, the authorized distributor of iPhone for Nepal informed of the price reduction in Nepal. According to the company, iPhone 7 32GB in Black has been priced Rs 86,000 after the price slash.',
			'content' => '<p style="text-align: justify;">May 18: iPhone has slashed price of its products in the Nepali market. &nbsp;Generation Next Communication, the authorized distributor of iPhone for Nepal informed of the price reduction in Nepal. According to the company, iPhone 7 32GB in Black has been priced Rs 86,000 after the price slash.</p>

<p style="text-align: justify;">Similalry, iPhone 7 128GB Gold, Rose Gold, Black, Jet Black and Red has been priced Rs 99,800. Likewise, iPhone 7 256GB has been priced Rs 112,000, iPhone 7 plus 32GB has been priced Rs 105,000 and iPhone 7 plus 128GB has been priced Rs 119,000.</p>

<p style="text-align: justify;">As per the company, the customers can now purchase iPhone 7 plus 256GB at Rs 132,000. In case of iPhone 6, customers can purchase iPhone6 64GB at Rs 68,000, 128GB at Rs 78,000 and SE 64GB at Rs 52,500. Likewise, iPhone 6S 32GB can be purchased at Rs 72,800 and iPad Pro 6.7 with smart keyboard can be purchased at Rs 17,500.</p>

<p style="text-align: justify;">Additionally, the company is providing free Ncell data &nbsp;of 1GB per month for six months along with one back cover and tempered glass on iPhone 7 and 7 Plus. The iPhone products are available in monthly installment too, said the company.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-18',
			'modified' => '2017-05-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5686',
			'image' => '20170518110617_iphone.jpg',
			'article_date' => '2017-05-18 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 5 => array(
		'Article' => array(
			'id' => '5900',
			'article_category_id' => '1',
			'title' => 'NIC Asia Bank Starts 9 Branches At Once',
			'sub_title' => '',
			'summary' => 'May 18: NIC Asia has opened nine new branches on a single day. The bank inaugurated the branches organizing separate programs on May 17. With the additions, the number of branches has reached 107.',
			'content' => '<p style="text-align: justify;">May 18: NIC Asia has opened nine new branches on a single day. The bank inaugurated the branches organizing separate programs on May 17. With the additions, the number of branches has reached 107.</p>

<p style="text-align: justify;">Among the new branches, Sauraha Pharsatikar branch was inaugurated by Surendra Prasad Shrestha, central member of Federation of Nepalese Chamber of Commerce and Industries (FNCCI). Similarly, Dhakdhahi branch was inaugurated by Krishna Prasad Sharma, another central member of FNCCI. Likewise, Bhumahi branch was inaugurated by Bhim Bahadur Thapa, yet another central member of FNCCI and Bansgadhi branch was inaugurated by Guru Prasad Poudel, Director of Nepal Rastra Bank (NRB), Nepalgunj branch. Moreover, Parsa branch was inaugurated by Guna Raj Shrestha, President of Khairahani Chamber of Commerce and Industries and Tandi branch was inaugurated by Gyan Bahadur Bisural, President of Ratnanagar Chamber of Commerce and Industries.</p>

<p style="text-align: justify;">Furthermore, Dulegauda and Bhimad branch were inaugurated by Krishna Raj Pandit, President of Tanahun Chamber of Commerce and Industries and Hakim Chowk branch was inaugurated by Rajan Gautam, President of Chitwan Chamber of Commerce and Industries.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-18',
			'modified' => '2017-05-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5685',
			'image' => '20170518104014_NIC.jpg',
			'article_date' => '2017-05-18 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 6 => array(
		'Article' => array(
			'id' => '5899',
			'article_category_id' => '1',
			'title' => 'Implementation of Clean Feed Policy Faces Challenges',
			'sub_title' => '',
			'summary' => 'May 17: In a bid to prohibit foreign pay television channels to run advertisement from coming July 16, the government approved ‘Clean Feed Policy’ on last July 22. The government announced the policy to be implemented in both free and pay foreign television channels. However, with the nearing implementation phase of the policy, execution of the policy seems challenging.',
			'content' => '<p style="text-align: justify;">May 17: In a bid to prohibit foreign pay television channels to run advertisement from coming July 16, the government approved &lsquo;Clean Feed Policy&rsquo; on last July 22. The government announced the policy to be implemented in both free and pay foreign television channels. However, with the nearing implementation phase of the policy, execution of the policy seems challenging.</p>

<p style="text-align: justify;">Presently, Nepal broadcasts nearly 150 foreign channels through downlink. Apart from programs, these channels also broadcast advertisement freely.&nbsp; Although the government collects revenue from advertisement broadcasted from domestic channels, foreign channels, however, do not need to pay such revenue. This has caused big losses not only to state but also to domestic advertisement industries. Thus the policy has ended the vacuum hanging above clean feed policy in Nepali television sector.</p>

<p style="text-align: justify;">Although few television channels that are being broadcasted from Singapore are advertisement free, majority of foreign channels broadcast advertisement too. As per international practices, pay foreign channels needs to be advertisement free to be broadcasted in any national territory.</p>

<p style="text-align: justify;">The advertisement broadcasted in such foreign TV channels are irrelevant to the government, public, domestic broadcasting company and advertisement market. Moreover, it also negatively affect legal and cultural sector of any particular country. In a bid to end such circumstances, the government is implementing clean feed broadcast of foreign TV channels in Nepal.</p>

<p style="text-align: justify;">In order to implement the clean feed policy, the government formulated a suggestion committee on the last February 13 to suggest technical, legal and organizational mechanism. The committee, however, surpassed the deadline of three weeks given to submit a report on the policy.</p>

<p style="text-align: justify;">Implementation of the policy will lead to market expansion for domestic advertisement agencies and television channels. Along with the expansion of advertisement industries, government revenue will also increase. Nevertheless, the committee predicts that the signal price of foreign channels might increase in the course.</p>

<p style="text-align: justify;">The preliminary report also points out that time frame of foreign TV channels may not go parallel with Nepali time as the channels needs to block advertisement.</p>

<p style="text-align: justify;">Similarly, few television channels distributed by foreign broadcaster might close due to inability of preparing clean feed for Nepal.</p>

<p style="text-align: justify;">&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-17',
			'modified' => '2017-05-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5684',
			'image' => '20170517030327_clean feed.jpg',
			'article_date' => '2017-05-17 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 7 => array(
		'Article' => array(
			'id' => '5898',
			'article_category_id' => '1',
			'title' => 'NT Announces Various Schemes on Telecommunication Day',
			'sub_title' => '',
			'summary' => 'May 17: Nepal Telecom (NT) has announced various promotional schemes on the occasion of World Telecommunication and Information Society Day and 100th anniversary of telephone service in Nepal. Issuing a press statement, the company said that the offer that is available to GSM and CDMA mobile services will last till August 12.',
			'content' => '<p style="text-align: justify;">May 17: Nepal Telecom (NT) has announced various promotional schemes on the occasion of World Telecommunication and Information Society Day and 100<sup>th</sup> anniversary of telephone service in Nepal. Issuing a press statement, the company said that the offer that is available to GSM and CDMA mobile services will last till August 12.</p>

<p style="text-align: justify;">Under the scheme, customers of GSM services are offered 4G data packages. Similarly, customers of CDMA services are offered all time data packages and night data packages.</p>

<p style="text-align: justify;">Under the 4G data package, NT has offered 200MB data pack at Rs 50 valid for 7 days and 500MB data pack at Rs 100 valid for 14 days. Similarly, customers can also choose from 1200MB data pack at Rs 200 valid for 28 days, 2000MB data at Rs 300 valid for 28 days and 3600MB data at Rs 500 for 28 days. In order to purchase a data pack, customers will have to type the required data pack and SMS to 1415.</p>

<p style="text-align: justify;">Similarly, under all time data pack, small data packs have been added under which customers are offered 60MB data at Rs 25 valid for 7 days. NT also offered 125MB data at Rs 50 valid for 14 days and 400MB data at Rs 100 valid for 30 days. Moreover, the customers can also purchase 850MB data at Rs 200 valid for 30 days and 1500MB data at Rs 300 valid for 30 days. Customers can type the required data pack and SMS to 1415 to purchase a data pack.</p>

<p style="text-align: justify;">Likewise, under night data pack, NT is offering 3GB data at Rs 200 and 6.5GB data at Rs 300 applicable from 10 pm to 6 am.</p>

<p style="text-align: justify;">Moreover, under Facebook and Instagram package under the scheme, customers are offered 110MB data at Rs 25 valid for 7 days. Similarly, 230MB data at Rs 50 for 14 days, 500MB data at Rs 100 for 28 days and 1100MB data at Rs 200 for 28 days are also offered by NT.</p>

<p style="text-align: justify;">&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-17',
			'modified' => '2017-05-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5683',
			'image' => '20170517125244_nt.jpg',
			'article_date' => '2017-05-17 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 8 => array(
		'Article' => array(
			'id' => '5897',
			'article_category_id' => '1',
			'title' => 'NRB Facilitate Online Foreign Currency Transaction Reporting',
			'sub_title' => '',
			'summary' => 'May 17: With the launch of online reporting of foreign exchange transaction by Nepal Rastra Bank,   firms dealing with foreign currency trading have been released from the hassle of visiting NRB every now and then.  Now onwards, the firms can submit the foreign currency trading report through online from any convenient locations.',
			'content' => '<p style="text-align: justify;">May 17: With the launch of online reporting of foreign exchange transaction by Nepal Rastra Bank, &nbsp;&nbsp;firms dealing with foreign currency trading have been released from the hassle of visiting NRB every now and then. &nbsp;Now onwards, the firms can submit the foreign currency trading report through online from any convenient locations.</p>

<p style="text-align: justify;">&ldquo;The central bank introduced the online system from mid-April,&rdquo; said Bhisma Raj Dhungana, Executive Director of Foreign Exchange Management Department, NRB. Nearly 5000 foreign currency traders including banks and financial institutions (BFIs) will be benefited by the system. Dhungana opined that the system will ease the report submission and also saves time.</p>

<p style="text-align: justify;">According to Dhungana, the registered traders required to obtain &lsquo;Username&rsquo; and &lsquo;Password&rsquo; from Foreign Exchange Management Department, NRB to enter in the system. NRB has made the online reporting mandatory for the foreign exchange traders. &ldquo;The online service has been launched to make the foreign exchange transaction easy, transparent and manageable. &nbsp;The system will facilitate easy and fast report submission to the traders,&rdquo; he added.</p>

<p style="text-align: justify;">NRB, issuing a notice on May 15, has requested all the related parties to submit their monthly transaction report from the last mid-April through online.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-17',
			'modified' => '2017-05-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5682',
			'image' => '20170517113634_nrb.jpg',
			'article_date' => '2017-05-17 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 9 => array(
		'Article' => array(
			'id' => '5896',
			'article_category_id' => '1',
			'title' => 'Srijana Finance Starts Branch at Enaruwa',
			'sub_title' => '',
			'summary' => 'May 17: Srijana Fainance has started a branch at Enaruwa, Sunsari. Panch Dev Mehta, President of Enaruwa Chamber of Commerce and Industries and Nanda Kishor Rathi, Member of Chamber of Industries, Morang and Director of Srijana Finance jointly inaugurated the branch amid a program on May 15. “Srijana Finance, which has been',
			'content' => '<p style="text-align: justify;">May 17: Srijana Fainance has started a branch at Enaruwa, Sunsari. Panch Dev Mehta, President of Enaruwa Chamber of Commerce and Industries and Nanda Kishor Rathi, Member of Chamber of Industries, Morang and Director of Srijana Finance jointly inaugurated the branch amid a program on May 15. &ldquo;Srijana Finance, which has been serving the customers since 15 years, opened the branch to serve the locals of the area,&rdquo; said Bhawani Shanker Chapagain, CEO of the company.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-17',
			'modified' => '2017-05-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5681',
			'image' => '20170517104921_srijana.jpg',
			'article_date' => '2017-05-17 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 10 => array(
		'Article' => array(
			'id' => '5895',
			'article_category_id' => '1',
			'title' => 'Take Debtors’ Consent First to Raise Interest Rate: NRB',
			'sub_title' => '',
			'summary' => 'May 16: Now, the banks and financial institutions (BFIs) are required to receive consent from the debtors if they are to raise interest rates on loans.',
			'content' => '<p style="text-align: justify;">May 16: Now, the banks and financial institutions (BFIs) are required to receive consent from the debtors if they are to raise interest rates on loans.</p>

<p style="text-align: justify;">&nbsp;The Nepal Rastra Bank (NRB), issuing a circular, barred BFIs from raising interest rates haphazardly without taking consent of the debtors.</p>

<p style="text-align: justify;">However, the BFIs can raise the interest rates on some conditions like failure to pay back interest and principals of loans, as well as if damages are made on collateral and violation of other conditions of loans by the debtors.</p>

<p style="text-align: justify;">Previously, the interest rates of BFIs on various accounts and loans were varied. Thus, the present NRB arrangement is expected to bringing good governance in BFIs and maintain suitable interest rates in loans, said Narayan Prasad Poudel, Spokesperson of NRB.</p>

<p style="text-align: justify;">According to him, the provision was made as per the direction of the Supreme Court to bar the BFIs from raising interest rates haphazardly.</p>

<p style="text-align: justify;">As per the new arrangement, the BFIs can add only a certain percentage on the base interest rate as premium when the debtors apply for new or additional loan.</p>

<p style="text-align: justify;">For the old loans with unmentioned premiums, the difference between interest rate mentioned in the offer letter and the base rate maintained during the release of loan will be the ultimate premium rate. However, if the banks renew the agreement with the debtors, then they can settle a new premium rate.</p>

<p style="text-align: justify;">The NRB has fixed 5 percent as the spread rate of interest to the BFIs. &nbsp;Now the NRB has made arrangements for the BFIs not to maintain more than five percent the average difference of interest rate charged on loans and the interest rates provided on deposits.</p>
',
			'published' => true,
			'created' => '2017-05-16',
			'modified' => '2017-05-16',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5680',
			'image' => '20170516050840_nrb.jpg',
			'article_date' => '2017-05-16 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 11 => array(
		'Article' => array(
			'id' => '5894',
			'article_category_id' => '1',
			'title' => 'Sunrise Bank to Issue 10:3 Right Shares',
			'sub_title' => '',
			'summary' => 'May 16: Sunrise Bank is issuing 10:3 right shares from May 30 to July 3. The bank is issuing 16,359,636 units of right shares with a face value of Rs 100 to its existing shareholders.',
			'content' => '<p style="text-align: justify;">May 16: Sunrise Bank is issuing 10:3 right shares from May 30 to July 3. The bank is issuing 16,359,636 units of right shares with a face value of Rs 100 to its existing shareholders.</p>

<p style="text-align: justify;">According to the bank, shareholders registered in the book by May 14 can apply for the right share.&nbsp; The bank has appointed Prabhu Capital Ltd as its issue manager. The interested shareholders can apply for the right share through Pabhu Capital as well as all the branches of Sunrise Bank.</p>

<p style="text-align: justify;">After the issuance of right shares, the paid-up capital of the bank will reach Rs 7.08 billion. The bank earned Rs 865.2 million net profit by the last mid-April.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-16',
			'modified' => '2017-05-16',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5679',
			'image' => '20170516020444_sunrise.jpg',
			'article_date' => '2017-05-16 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 12 => array(
		'Article' => array(
			'id' => '5893',
			'article_category_id' => '1',
			'title' => 'Dugar Launches 3 Products under ‘Gyan’',
			'sub_title' => '',
			'summary' => 'May 16: KL Dugar Group has brought three new products under ‘Gyan’ brand.  The company launched Gyan Maize Atta, Gyan Maize Grit and Gyan Premium Lito (baby food) in the market. Issuing a press statement, the company said that the products are available in 5kg and 2kg packages in nationwide major departmental store and retailers. ',
			'content' => '<p style="text-align: justify;">May 16: KL Dugar Group has brought three new products under &lsquo;Gyan&rsquo; brand. &nbsp;The company launched Gyan Maize Atta, Gyan Maize Grit and Gyan Premium Lito (baby food) in the market. Issuing a press statement, the company said that the products are available in 5kg and 2kg packages in nationwide major departmental store and retailers. &nbsp;</p>

<p style="text-align: justify;">According to the company, Gyan Maize Atta which is manufactured by yellow and white maize contains fibers and proteins. Similarly, Gyan Maize Grit is low in fat, sodium, gluten free and contains rich dietary fiber.</p>

<p style="text-align: justify;">Likewise, Gyan Premim Lito that is manufactured by the mixture of wheat, rice and soya contains milk powder, sugar, corn oil and fortified with 16 vitamins and micronutrients. The Gyan Premium Lito is suitable for the infants above six months, said the company in a press statement.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-16',
			'modified' => '2017-05-16',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5678',
			'image' => '20170516010307_gyan.jpg',
			'article_date' => '2017-05-16 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 13 => array(
		'Article' => array(
			'id' => '5892',
			'article_category_id' => '1',
			'title' => 'Sanima Bank to Provide ASBA and Demat Services Thru Online',
			'sub_title' => '',
			'summary' => 'May 16: Sanima Bank has introduced online ASBA and Demat services. In a bid to provide convenient ASBA and Demat services to the customers, the bank started the online services from May 15. The customers can receive the services by taking internet banking services from the bank, said the bank in a press statement. ',
			'content' => '<p style="text-align: justify;">May 16: Sanima Bank has introduced online ASBA and Demat services. In a bid to provide convenient ASBA and Demat services to the customers, the bank started the online services from May 15. The customers can receive the services by taking internet banking services from the bank, said the bank in a press statement.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-16',
			'modified' => '2017-05-16',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5677',
			'image' => '20170516115845_sanima.jpg',
			'article_date' => '2017-05-16 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 14 => array(
		'Article' => array(
			'id' => '5891',
			'article_category_id' => '1',
			'title' => 'Machhapuchchhre Chairman Takes Oath in front of Governor',
			'sub_title' => '',
			'summary' => 'May 16: Roshan KC, the newly appointed chairman of Machhapuchchhre Bank has taken oath in front of Dr Chiranjibi Nepal, Governor of Nepal Rastra Bank. KC took oath as per the provision of banks and financial institutions Act 2073.',
			'content' => '<p style="text-align: justify;">May 16: Roshan KC, the newly appointed chairman of Machhapuchchhre Bank has taken oath in front of Dr Chiranjibi Nepal, Governor of Nepal Rastra Bank. KC took oath as per the provision of banks and financial institutions Act 2073.</p>

<p style="text-align: justify;">KC was elected as chairman of the bank during the board of directors&rsquo; meeting on April 27.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-16',
			'modified' => '2017-05-16',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5676',
			'image' => '20170516113511_macha.jpg',
			'article_date' => '2017-05-16 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	)
)
$current_user = null
$logged_in = false
$xml = false
simplexml_load_file - [internal], line ??
include - APP/View/Elements/side_bar.ctp, line 133
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/index.ctp, line 157
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117