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';



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$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp'
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		'Article' => array(
			'id' => '5830',
			'article_category_id' => '1',
			'title' => 'Bhattarai Elected Chairman of Surya Life',
			'sub_title' => '',
			'summary' => 'May 4: Keshav Prasad Bhattarai has been elected as chairman of Surya Life Insurance.',
			'content' => '<p style="text-align: justify;">May 4: Keshav Prasad Bhattarai has been elected as chairman of Surya Life Insurance.</p>

<p style="text-align: justify;">The board of directors&rsquo; (BOD) meeting held on May 3 elected Bhattarai to the post of chairman.</p>

<p style="text-align: justify;">Previously, Bhattarai served Commission for the Investigation of Abuse of Authority (CIAA), National Planning Commission and Consulate General of Nepal to Hongkong office, said the company in a press statement.</p>

<p style="text-align: justify;">&nbsp;</p>
',
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			'created' => '2017-05-04',
			'modified' => '2017-05-04',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5615',
			'image' => '20170504113113_surya life.jpg',
			'article_date' => '2017-05-04 00:00:00',
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			'id' => '5829',
			'article_category_id' => '1',
			'title' => 'Srijana Finance Starts Branch at Chakragatti',
			'sub_title' => '',
			'summary' => 'May 4: Srijana Finance has started a branch at Chakragatti of Sunsari. Lila Dhungel, Director of the finance company inaugurated the branch amid a program.',
			'content' => '<p style="text-align: justify;">May 4: Srijana Finance has started a branch at Chakragatti of Sunsari. Lila Dhungel, Director of the finance company inaugurated the branch amid a program.</p>

<p style="text-align: justify;">&ldquo;The branch has been started as per the objective of expanding the branch in rural areas,&rdquo; said Suyash Pyakurel, Chairman of the company.&nbsp;</p>
',
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			'created' => '2017-05-04',
			'modified' => '2017-05-04',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5614',
			'image' => '20170504111319_srijana.jpg',
			'article_date' => '2017-05-04 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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			'id' => '5828',
			'article_category_id' => '1',
			'title' => 'Reliance Opens Branch at Aarughat',
			'sub_title' => '',
			'summary' => 'May 4: Reliance Finance has started a branch at Aarughat of Gorkha.  Dharmendra Kaji Shrestha, Chairman of the finance company inaugurated the branch amid a program.',
			'content' => '<p style="text-align: justify;">May 4: Reliance Finance has started a branch at Aarughat of Gorkha.</p>

<p style="text-align: justify;">Dharmendra Kaji Shrestha, Chairman of the finance company inaugurated the branch amid a program.</p>

<p style="text-align: justify;">In the program, Chairman Shrestha said that the branch has been started in a bid to provide financial services in rural area.</p>

<p style="text-align: justify;">&nbsp;The company having Rs 512.5 million paid-up capital is serving its customers through seven branches.</p>

<p style="text-align: justify;">&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-04',
			'modified' => '2017-05-04',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5613',
			'image' => '20170504110617_reliance.jpg',
			'article_date' => '2017-05-04 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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		'Article' => array(
			'id' => '5827',
			'article_category_id' => '1',
			'title' => 'Civil Bank Appoints Laxmi Capital as Issue Manager',
			'sub_title' => '',
			'summary' => 'May 4: Civil Bank has appointed Laxmi Capital Market Ltd as its issue manager.',
			'content' => '<p style="text-align: justify;">May 4: Civil Bank has appointed Laxmi Capital Market Ltd as its issue manager.</p>

<p style="text-align: justify;">Issuing a press statement, the bank said that it appointed the issue manager to manage the 30 percent right shares of the paid-up capital maintained after acquiring Unique Finance and Hama Merchant and Finance.</p>

<p style="text-align: justify;">Moreover, Laxmi Capital will also manage the bonus share to be endorsed by the forthcoming general meeting.</p>

<p style="text-align: justify;">Govinda Gurung, Acting CEO of the bank and Rajeev Sapkota, CEO of Laxmi Capital signed an agreement paper regarding the matter.</p>

<p style="text-align: justify;">&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-04',
			'modified' => '2017-05-04',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5612',
			'image' => '20170504105820_civil.jpg',
			'article_date' => '2017-05-04 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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	(int) 4 => array(
		'Article' => array(
			'id' => '5826',
			'article_category_id' => '1',
			'title' => 'NIBL’s Profit Exceeds Rs 2 billion',
			'sub_title' => '',
			'summary' => 'May 3: Nepal Investment Bank (NIBL) has earned Rs 2.37 billion net profit by the third quarter of the current FY. The net profit of the bank increased by nearly 27 percent compared to corresponding period of the last FY. The bank has been able to recover Rs 205.4 million bad debts during the review period.',
			'content' => '<p style="text-align: justify;">May 3: Nepal Investment Bank (NIBL) has earned Rs 2.37 billion net profit by the third quarter of the current FY. The net profit of the bank increased by nearly 27 percent compared to corresponding period of the last FY. The bank has been able to recover Rs 205.4 million bad debts during the review period.</p>

<p style="text-align: justify;">&nbsp;Similarly, operating profit of the bank has increased by 41 percent by the third quarter of the current FY. During the period, paid-up capital of the bank increased by 20 percent to Rs 8.74 billion and its reserve fund amounted to Rs 9.95 billion. By the third quarter, investment of the bank has increased by 17 percent to Rs 25.36 billion. The bank earned Rs 11.66 billion through foreign currency exchange.</p>

<p style="text-align: justify;">&nbsp;According to the financial report of the third quarter, the bank earned interest income and operating profit of Rs 3.47 billion and 3.45 billion respectively.&nbsp; The bank has earning per share (EPS) of Rs 36.24, P/E ratio of 21.24 and net worth per share of Rs 213.86.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-03',
			'modified' => '2017-05-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5611',
			'image' => '20170503051923_nibl.jpg',
			'article_date' => '2017-05-03 00:00:00',
			'homepage' => false,
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	(int) 5 => array(
		'Article' => array(
			'id' => '5825',
			'article_category_id' => '1',
			'title' => '‘Today's Telegram’ Launched at Pulchowk',
			'sub_title' => '',
			'summary' => 'May 3: A new startup which intends to provide pure leather products to its customers has opened its first outlet at Jhamsikhel road, Pulchowk in Lalitpur.',
			'content' => '<p style="text-align:justify">May 3: A new startup which intends to provide pure leather products to its customers has opened its first outlet at Jhamsikhel road, Pulchowk in Lalitpur.</p>

<p style="text-align:justify">The venture &#39;Today&#39;s Telegram&#39; opened on May 2 designs daily use products such as bean bags, handmade diaries, embossing bags, duffle bags and purses made out of leather and also lap bags, eco-friendly yoga mats and bags made out of hemp in its factory located in Biratnagar.</p>

<p style="text-align:justify">&quot;First, we exported our products and now it is time for us to introduce them to the Nepali market,&quot; says Faiza Parween, Communications and Brand Head of the venture. The price of the product ranges from Rs 500- Rs 11,000.</p>

<p style="text-align:justify">The venture also organised a photo exhibition entitled &#39;Nepal in 60&#39;s on April 25 parallel to the launch of its outlet. The exhibition which concluded on May 2 features 200 photos taken by David Templeman, an Australian Professor from Monash University.</p>

<p style="text-align:justify">He clicked the pictures with the themes including panaroma to lifestyle in different areas of Nepal from 1967-1969.</p>

<p style="text-align:justify">&#39;We will be using the fund raised in the exhibition to install dustbins around Kathmandu,&quot; said Faija Parween, Communications and Brand Head of the venture and Operations Director at Open Space Nepal.</p>

<p style="text-align:justify">&quot;Installation of dustbins will be carried out as a year-long project through Open Space Network,&quot; said Parween.</p>

<p style="text-align:justify">&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-03',
			'modified' => '2017-05-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5610',
			'image' => '20170503045643_today\'s telegram.jpg',
			'article_date' => '2017-05-03 00:00:00',
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		'Article' => array(
			'id' => '5824',
			'article_category_id' => '1',
			'title' => 'SEBON Approves Right Issue of  Everest Bank',
			'sub_title' => '',
			'summary' => 'May 3: Securities Board of Nepal (SEBON) has approved right issue of Everest bank. The bank will now issue 3:1 right shares to its existing shareholders. The bank is set to issue 15,088, 087 units of right shares with the face value of Rs 100. NIBL Capital market will be managing the right issue of the bank. By the third quarter of the',
			'content' => '<p style="text-align:justify">May 3: Securities Board of Nepal (SEBON) has approved right issue of Everest bank. The bank will now issue 3:1 right shares to its existing shareholders. The bank is set to issue 15,088, 087 units of right shares with the face value of Rs 100. NIBL Capital market will be managing the right issue of the bank. By the third quarter of the current FY, the bank has earned Rs 1.52 billion net profit. The bank has paid-up capital of Rs 4.60 billion.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-03',
			'modified' => '2017-05-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5609',
			'image' => '20170503045502_ever.jpg',
			'article_date' => '2017-05-03 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
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	(int) 7 => array(
		'Article' => array(
			'id' => '5823',
			'article_category_id' => '1',
			'title' => 'Open Border Increasing Unofficial Trade',
			'sub_title' => '',
			'summary' => 'May 3: Unofficial trade is occurring due to open border with India and time-consuming customs procedures.',
			'content' => '<p style="text-align: justify;">May 3: Unofficial trade is occurring due to open border with India and time-consuming customs procedures.</p>

<p style="text-align: justify;">According to a research recently conducted by South Asia Watch on Trade, Economics and Environment (SAWTEE), the unofficial trade between Nepal and India is equivalent to a large portion of the official trade between them. The research shows that the import of agricultural products is very high in such official trade.</p>

<p style="text-align: justify;">&nbsp;This was revealed in the report released at a programme on May 2, which said that 35-40 percent of the total unofficial trade is covered by import of agricultural products alone.</p>

<p style="text-align: justify;">According to Dr. Posh Raj Pandey, President of SAWTEE, various types of agricultural products are being imported such as seeds, chemical fertilizers, equipments in Nepal in an unofficial manner.</p>

<p style="text-align: justify;">Pandey said, &ldquo;After the government restricted import of many agricultural products, such products are being imported unofficially. Agricultural seeds are being imported in large amount from India in this way.&rdquo;</p>

<p style="text-align: justify;">The report shows that out of the total import of seeds, around 20 percent is imported through unofficial channel. Similarly, the speakers of the program said that every year, agricultural equipments worth Rs 10 million are being imported unofficially in the country.</p>

<p style="text-align: justify;">Yogendra Kumar Karki, Spokesperson of the Ministry of Agriculture Development informed that due to the high cost in import of goods through official medium and problems of quarantine test, unofficial trade is rising.</p>

<p style="text-align: justify;">&ldquo;Due to lack of storage, agricultural products are going out of the country after the production and these very products are being imported later from other countries&rdquo;, he added. He admitted that due to lack of government grant in Nepal unlike in other countries, the agricultural products are being imported from India in low prices.</p>

<p style="text-align: justify;">Rabi Shanker Sainju, Spokesperson of the Ministry of Commerce said that despite strong government policies related to agriculture sector, the unofficial trade is taking place as the implementing agencies are not strong. Sainju says, &ldquo;Unofficial import is increasing also due to weak distribution channel as well as unavailability of quality and competitive products in Nepal.&rdquo;</p>

<p style="text-align: justify;">According to expert Purushottam Ojha, the main reason behind increasing unofficial trade is open border between Nepal and India. &ldquo;If the government provides grants in agricultural products, unofficial trade in the border will be automatically minimized&rdquo;, he added.</p>
',
			'published' => true,
			'created' => '2017-05-03',
			'modified' => '2017-05-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5608',
			'image' => '20170503040341_open border.jpg',
			'article_date' => '2017-05-03 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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	(int) 8 => array(
		'Article' => array(
			'id' => '5822',
			'article_category_id' => '1',
			'title' => 'Nabil Bank Records Rs 2.68 bn Net Profit by 3rd Quarter',
			'sub_title' => '',
			'summary' => 'May 3: Nabil Bank has earned Rs 2.68 billion net profit by the third quarter of the current FY. The net profit of the bank has increased by nearly 31 percent compared to corresponding period of the last FY. During the corresponding period of the last FY, the bank earned Rs 2.05 billion net profit. The increase in net profit is attributed to increase in interest income of the bank. The bank has been able to earn Rs 4.08 billion interest income during the period. Similarly, the operating profit of the bank h',
			'content' => '<p style="text-align:justify">May 3: Nabil Bank has earned Rs 2.68 billion net profit by the third quarter of the current FY. The net profit of the bank has increased by nearly 31 percent compared to corresponding period of the last FY. During the corresponding period of the last FY, the bank earned Rs 2.05 billion net profit. The increase in net profit is attributed to increase in interest income of the bank. The bank has been able to earn Rs 4.08 billion interest income during the period. Similarly, the operating profit of the bank has increased by 35 percent to Rs 4.10 billion.</p>

<p style="text-align:justify">By the third quarter of the current FY, the paid-up capital of the bank has increased to Rs 6.18 billion. The paid-up capital has increased by 30 percent compared to the last FY. Similarly, during the review period, the bank has reserve fund of Rs 8.09 billion while its investment amounts to Rs 28.22 billion. The bank has collected Rs 117.05 billion deposit and has extended loan of Rs 90.55 billion. The earning per share (EPS) of the bank is Rs 58.22.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-03',
			'modified' => '2017-05-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5607',
			'image' => '20170503040038_nabil bank.jpg',
			'article_date' => '2017-05-03 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
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	(int) 9 => array(
		'Article' => array(
			'id' => '5821',
			'article_category_id' => '1',
			'title' => 'Qatar Airways Privilege Club Wins Best Rewards Programme in the Middle East, Asia and Oceania Region',
			'sub_title' => '',
			'summary' => 'May 3:  Qatar Airways’ frequent flyer programme, Privilege Club, has been voted the Best Rewards Programme for the Middle East, Asia and Oceania region in the sixth annual FlyerTalk Awards. FlyerTalk is a community of more than half a million businesses and leisure travellers dedicated to finding and sharing elite-level knowledge of air, hotel and car rental programmes.',
			'content' => '<p style="text-align: justify;">May 3: &nbsp;Qatar Airways&rsquo; frequent flyer programme, Privilege Club, has been voted the Best Rewards Programme for the Middle East, Asia and Oceania region in the sixth annual FlyerTalk Awards. FlyerTalk is a community of more than half a million businesses and leisure travellers dedicated to finding and sharing elite-level knowledge of air, hotel and car rental programmes.</p>

<p style="text-align: justify;">Qatar Airways Privilege Club overcame two-time defending champion Cathay Pacific and its frequent flyer programme to earn the number one honour. &ldquo;Qatar Airways Privilege Club is delighted to have received this award, particularly as it was voted for by our discerning members and those from the FlyerTalk community,&quot; said Dr Ian Di Tullio, Vice President, Customer Loyalty and Relationship Management of Qatar Airways. &nbsp;</p>

<p style="text-align: justify;">Qatar Airways Privilege Club has delivered a number of programme improvements over the last year, including the introduction of digital membership cards, enabling members to book award flights via the Qatar Airways App, and allowing last-minute upgrades using Qmiles, said the airlines in a press statement.</p>

<p style="text-align: justify;">&ldquo;Privilege Club members now also have a much wider choice of ways to earn and redeem their Qmiles, with new partnerships in the Middle East and beyond, covering credit cards, car-rentals, and hospitality. This includes an exciting new global relationship with AccorHotels, allowing members to redeem Qmiles for stays in some of the world&rsquo;s leading hotels,&rdquo; reads the statement</p>
',
			'published' => true,
			'created' => '2017-05-03',
			'modified' => '2017-05-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5606',
			'image' => '20170503121432_qatar airways.jpg',
			'article_date' => '2017-05-03 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 10 => array(
		'Article' => array(
			'id' => '5820',
			'article_category_id' => '1',
			'title' => 'Vianet Launches Unlimited Internet Offer',
			'sub_title' => '',
			'summary' => 'May 3: Internet Service Provider, Vianet Communication has launched unlimited internet services to its customers.',
			'content' => '<p style="text-align: justify;">May 3: Internet Service Provider, Vianet Communication has launched unlimited internet services to its customers.</p>

<p style="text-align: justify;">The ISP service provider has brought this kind of offer for the first time. Under the package, customers can enjoy unlimited internet of 6 MBPS and 12 MBPS speed. The customer can use 6 MBPS and 12 MBPS speed internet at Rs 1,330 and Rs 1,710 respectively, informs the company in a press statement.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-03',
			'modified' => '2017-05-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5605',
			'image' => '20170503115518_vianet.jpg',
			'article_date' => '2017-05-03 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 11 => array(
		'Article' => array(
			'id' => '5819',
			'article_category_id' => '1',
			'title' => 'BOK Appoints Nabil Investment as Issue Manager',
			'sub_title' => '',
			'summary' => 'May 3: Bank of Kathmandu (BOK) has appointed Nabil Investment Banking as its issue manager. The both institutions sign a memorandum of understanding regarding the matter on May 2. Ajay Shrestha, CEO of BOK and Prabin Raman Parajuli, CEO of Nabil Investment signed the agreement, said the bank in a press statement.',
			'content' => '<p style="text-align: justify;">May 3: Bank of Kathmandu (BOK) has appointed Nabil Investment Banking as its issue manager. The both institutions sign a memorandum of understanding regarding the matter on May 2. Ajay Shrestha, CEO of BOK and Prabin Raman Parajuli, CEO of Nabil Investment signed the agreement, said the bank in a press statement.</p>

<p style="text-align: justify;">The bank, in a bid to restructure the share holding ratio of promoter and general shareholders to 51:49, is issuing further public offering to the promoter shareholders. On this regard, the bank is floating 6,208,132 units FPO to promoter shareholders. After the appointment, Nabil Investment will be managing the issue. &nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-03',
			'modified' => '2017-05-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5604',
			'image' => '20170503113146_bok.JPG',
			'article_date' => '2017-05-03 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
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	),
	(int) 12 => array(
		'Article' => array(
			'id' => '5818',
			'article_category_id' => '1',
			'title' => 'Sunrise Bank Adds 3 BLB Units',
			'sub_title' => '',
			'summary' => 'May 3: Sunrise Bank has started three branchless banking (BLB) units as per its objective of providing financial services in the areas lacking banking accessibility. The bank started BLB units in Shukrabare Bazar of Illam and Chimadi Bazar and Kalabanjar of Sunsari. The bank handed over point of sale machines to local representatives to carry out the ',
			'content' => '<p style="text-align: justify;">May 3: Sunrise Bank has started three branchless banking (BLB) units as per its objective of providing financial services in the areas lacking banking accessibility. The bank started BLB units in Shukrabare Bazar of Illam and Chimadi Bazar and Kalabanjar of Sunsari. The bank handed over point of sale machines to local representatives to carry out the BLB services. With the additions, the number of BLB units of Sunrise Bank has reached 16.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-03',
			'modified' => '2017-05-03',
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			'description' => '',
			'sortorder' => '5603',
			'image' => '20170503112015_sunrise bank.jpg',
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			'id' => '5817',
			'article_category_id' => '1',
			'title' => 'Nepal SBI Bank to Issue 10:4 Right Shares',
			'sub_title' => '',
			'summary' => 'May 3: Nepal SBI Bank is issuing 10:4 right shares. The bank is set to issue the right shares from May 21 to June 25. The bank will be issuing 19,919,423.6 units of right shares with a face value of Rs 100 to its existing shareholders.',
			'content' => '<p style="text-align: justify;">May 3: Nepal SBI Bank is issuing 10:4 right shares. The bank is set to issue the right shares from May 21 to June 25. The bank will be issuing 19,919,423.6 units of right shares with a face value of Rs 100 to its existing shareholders.</p>

<p style="text-align: justify;">The shareholders registered in the bank&rsquo;s share-book by May 9 will be eligible to apply for the right shares. The bank has appointed NMB Capital Ltd as its issue manager. The interested shareholders can apply for the right shares from all the branches of Nepal SBI Bank. Moreover, shareholders can submit their right share application in Nepal SBI Merchant Banking, Hattisar, Kathmandu and NMB Capital Ltd, Naag Pokhari, Kathmandu.</p>

<p style="text-align: justify;">Presently, the bank has paid-up capital of Rs 4.97 billion. After the issuance of the right share, the paid-up capital will reach Rs 6.97 billion.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-03',
			'modified' => '2017-05-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5602',
			'image' => '20170503110904_sbi.jpg',
			'article_date' => '2017-05-03 00:00:00',
			'homepage' => false,
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			'id' => '5816',
			'article_category_id' => '1',
			'title' => 'Government Neglecting Insurance of Hydropower Projects',
			'sub_title' => '',
			'summary' => 'May 2: The government has not insured the hydropower projects it has constructed so far. Due to which, the private sector is also being insensitive regarding this issue.',
			'content' => '<p style="text-align: justify;">May 2: The government has not insured the hydropower projects it has constructed so far. Due to which, the private sector is also being insensitive regarding this issue.</p>

<p style="text-align: justify;">However, the hydropower promoters have now realized the need of insurance due to the heavy damages caused by the devastating earthquake two years ago.</p>

<p style="text-align: justify;">The private sector is now attracted towards insurance assuming unexpected damages of tens of millions of rupees caused by natural disasters. But most of the private sector hydropower projects have insured only after generating electricity.</p>

<p style="text-align: justify;">According to Bir Bikram Rayamajhi, CEO of Rastriya Beema Company, there are very few companies which are interested in insurance. &ldquo;It is important to insure at the very time of construction of the project,&rdquo; he said.</p>

<p style="text-align: justify;">While developing hydropower projects, construction phase is regarded as a sensitive stage. Sanjeev Neupane, Managing Director of Api Power Company says there is no clear policy regarding the basis for which insurance can be done. &ldquo;The size, investment and capacity of hydropower projects are different,&rdquo; he said, adding, &ldquo;The implementation will be easy if the policy clearly mentions the insurance amount according to its size.&rdquo;</p>

<p style="text-align: justify;">However, Rayamajhi says that a company can opt for insurance as per its own interest. All kinds of damages can be fulfilled by insurance in hydropower projects, he added.</p>

<p style="text-align: justify;">The Insurance Company has already issued Rs 3.5 million to Chilime Hydropower Project for the damage caused on its administrative building by April 25, 2015 earthquake. Nevertheless, he informed that no other companies have claimed for insurance as yet.</p>

<p style="text-align: justify;">Likewise, Uttar Kumar Shrestha, CEO of Butwal Power Company (BPC) says that the insurance has provisions that damages caused by fire, floods and landslides and earthquakes are fulfilled by insurance companies, but the general understanding is the opposite. He said the promoters only insure projects for formality. He further added, &ldquo;Therefore, there is a need to make people aware about the reality.&rdquo;&nbsp;&nbsp;</p>
',
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			'keywords' => '',
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			'sortorder' => '5601',
			'image' => '20170502054507_insurance.jpg',
			'article_date' => '2017-05-02 00:00:00',
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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
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$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp'
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		'Article' => array(
			'id' => '5830',
			'article_category_id' => '1',
			'title' => 'Bhattarai Elected Chairman of Surya Life',
			'sub_title' => '',
			'summary' => 'May 4: Keshav Prasad Bhattarai has been elected as chairman of Surya Life Insurance.',
			'content' => '<p style="text-align: justify;">May 4: Keshav Prasad Bhattarai has been elected as chairman of Surya Life Insurance.</p>

<p style="text-align: justify;">The board of directors&rsquo; (BOD) meeting held on May 3 elected Bhattarai to the post of chairman.</p>

<p style="text-align: justify;">Previously, Bhattarai served Commission for the Investigation of Abuse of Authority (CIAA), National Planning Commission and Consulate General of Nepal to Hongkong office, said the company in a press statement.</p>

<p style="text-align: justify;">&nbsp;</p>
',
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			'created' => '2017-05-04',
			'modified' => '2017-05-04',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5615',
			'image' => '20170504113113_surya life.jpg',
			'article_date' => '2017-05-04 00:00:00',
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		'Article' => array(
			'id' => '5829',
			'article_category_id' => '1',
			'title' => 'Srijana Finance Starts Branch at Chakragatti',
			'sub_title' => '',
			'summary' => 'May 4: Srijana Finance has started a branch at Chakragatti of Sunsari. Lila Dhungel, Director of the finance company inaugurated the branch amid a program.',
			'content' => '<p style="text-align: justify;">May 4: Srijana Finance has started a branch at Chakragatti of Sunsari. Lila Dhungel, Director of the finance company inaugurated the branch amid a program.</p>

<p style="text-align: justify;">&ldquo;The branch has been started as per the objective of expanding the branch in rural areas,&rdquo; said Suyash Pyakurel, Chairman of the company.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-04',
			'modified' => '2017-05-04',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5614',
			'image' => '20170504111319_srijana.jpg',
			'article_date' => '2017-05-04 00:00:00',
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			'breaking_news' => false,
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			'id' => '5828',
			'article_category_id' => '1',
			'title' => 'Reliance Opens Branch at Aarughat',
			'sub_title' => '',
			'summary' => 'May 4: Reliance Finance has started a branch at Aarughat of Gorkha.  Dharmendra Kaji Shrestha, Chairman of the finance company inaugurated the branch amid a program.',
			'content' => '<p style="text-align: justify;">May 4: Reliance Finance has started a branch at Aarughat of Gorkha.</p>

<p style="text-align: justify;">Dharmendra Kaji Shrestha, Chairman of the finance company inaugurated the branch amid a program.</p>

<p style="text-align: justify;">In the program, Chairman Shrestha said that the branch has been started in a bid to provide financial services in rural area.</p>

<p style="text-align: justify;">&nbsp;The company having Rs 512.5 million paid-up capital is serving its customers through seven branches.</p>

<p style="text-align: justify;">&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-04',
			'modified' => '2017-05-04',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5613',
			'image' => '20170504110617_reliance.jpg',
			'article_date' => '2017-05-04 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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		'Article' => array(
			'id' => '5827',
			'article_category_id' => '1',
			'title' => 'Civil Bank Appoints Laxmi Capital as Issue Manager',
			'sub_title' => '',
			'summary' => 'May 4: Civil Bank has appointed Laxmi Capital Market Ltd as its issue manager.',
			'content' => '<p style="text-align: justify;">May 4: Civil Bank has appointed Laxmi Capital Market Ltd as its issue manager.</p>

<p style="text-align: justify;">Issuing a press statement, the bank said that it appointed the issue manager to manage the 30 percent right shares of the paid-up capital maintained after acquiring Unique Finance and Hama Merchant and Finance.</p>

<p style="text-align: justify;">Moreover, Laxmi Capital will also manage the bonus share to be endorsed by the forthcoming general meeting.</p>

<p style="text-align: justify;">Govinda Gurung, Acting CEO of the bank and Rajeev Sapkota, CEO of Laxmi Capital signed an agreement paper regarding the matter.</p>

<p style="text-align: justify;">&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-04',
			'modified' => '2017-05-04',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5612',
			'image' => '20170504105820_civil.jpg',
			'article_date' => '2017-05-04 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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	(int) 4 => array(
		'Article' => array(
			'id' => '5826',
			'article_category_id' => '1',
			'title' => 'NIBL’s Profit Exceeds Rs 2 billion',
			'sub_title' => '',
			'summary' => 'May 3: Nepal Investment Bank (NIBL) has earned Rs 2.37 billion net profit by the third quarter of the current FY. The net profit of the bank increased by nearly 27 percent compared to corresponding period of the last FY. The bank has been able to recover Rs 205.4 million bad debts during the review period.',
			'content' => '<p style="text-align: justify;">May 3: Nepal Investment Bank (NIBL) has earned Rs 2.37 billion net profit by the third quarter of the current FY. The net profit of the bank increased by nearly 27 percent compared to corresponding period of the last FY. The bank has been able to recover Rs 205.4 million bad debts during the review period.</p>

<p style="text-align: justify;">&nbsp;Similarly, operating profit of the bank has increased by 41 percent by the third quarter of the current FY. During the period, paid-up capital of the bank increased by 20 percent to Rs 8.74 billion and its reserve fund amounted to Rs 9.95 billion. By the third quarter, investment of the bank has increased by 17 percent to Rs 25.36 billion. The bank earned Rs 11.66 billion through foreign currency exchange.</p>

<p style="text-align: justify;">&nbsp;According to the financial report of the third quarter, the bank earned interest income and operating profit of Rs 3.47 billion and 3.45 billion respectively.&nbsp; The bank has earning per share (EPS) of Rs 36.24, P/E ratio of 21.24 and net worth per share of Rs 213.86.&nbsp;</p>
',
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			'created' => '2017-05-03',
			'modified' => '2017-05-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5611',
			'image' => '20170503051923_nibl.jpg',
			'article_date' => '2017-05-03 00:00:00',
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	(int) 5 => array(
		'Article' => array(
			'id' => '5825',
			'article_category_id' => '1',
			'title' => '‘Today's Telegram’ Launched at Pulchowk',
			'sub_title' => '',
			'summary' => 'May 3: A new startup which intends to provide pure leather products to its customers has opened its first outlet at Jhamsikhel road, Pulchowk in Lalitpur.',
			'content' => '<p style="text-align:justify">May 3: A new startup which intends to provide pure leather products to its customers has opened its first outlet at Jhamsikhel road, Pulchowk in Lalitpur.</p>

<p style="text-align:justify">The venture &#39;Today&#39;s Telegram&#39; opened on May 2 designs daily use products such as bean bags, handmade diaries, embossing bags, duffle bags and purses made out of leather and also lap bags, eco-friendly yoga mats and bags made out of hemp in its factory located in Biratnagar.</p>

<p style="text-align:justify">&quot;First, we exported our products and now it is time for us to introduce them to the Nepali market,&quot; says Faiza Parween, Communications and Brand Head of the venture. The price of the product ranges from Rs 500- Rs 11,000.</p>

<p style="text-align:justify">The venture also organised a photo exhibition entitled &#39;Nepal in 60&#39;s on April 25 parallel to the launch of its outlet. The exhibition which concluded on May 2 features 200 photos taken by David Templeman, an Australian Professor from Monash University.</p>

<p style="text-align:justify">He clicked the pictures with the themes including panaroma to lifestyle in different areas of Nepal from 1967-1969.</p>

<p style="text-align:justify">&#39;We will be using the fund raised in the exhibition to install dustbins around Kathmandu,&quot; said Faija Parween, Communications and Brand Head of the venture and Operations Director at Open Space Nepal.</p>

<p style="text-align:justify">&quot;Installation of dustbins will be carried out as a year-long project through Open Space Network,&quot; said Parween.</p>

<p style="text-align:justify">&nbsp;</p>
',
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			'created' => '2017-05-03',
			'modified' => '2017-05-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5610',
			'image' => '20170503045643_today\'s telegram.jpg',
			'article_date' => '2017-05-03 00:00:00',
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	(int) 6 => array(
		'Article' => array(
			'id' => '5824',
			'article_category_id' => '1',
			'title' => 'SEBON Approves Right Issue of  Everest Bank',
			'sub_title' => '',
			'summary' => 'May 3: Securities Board of Nepal (SEBON) has approved right issue of Everest bank. The bank will now issue 3:1 right shares to its existing shareholders. The bank is set to issue 15,088, 087 units of right shares with the face value of Rs 100. NIBL Capital market will be managing the right issue of the bank. By the third quarter of the',
			'content' => '<p style="text-align:justify">May 3: Securities Board of Nepal (SEBON) has approved right issue of Everest bank. The bank will now issue 3:1 right shares to its existing shareholders. The bank is set to issue 15,088, 087 units of right shares with the face value of Rs 100. NIBL Capital market will be managing the right issue of the bank. By the third quarter of the current FY, the bank has earned Rs 1.52 billion net profit. The bank has paid-up capital of Rs 4.60 billion.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-03',
			'modified' => '2017-05-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5609',
			'image' => '20170503045502_ever.jpg',
			'article_date' => '2017-05-03 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
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	(int) 7 => array(
		'Article' => array(
			'id' => '5823',
			'article_category_id' => '1',
			'title' => 'Open Border Increasing Unofficial Trade',
			'sub_title' => '',
			'summary' => 'May 3: Unofficial trade is occurring due to open border with India and time-consuming customs procedures.',
			'content' => '<p style="text-align: justify;">May 3: Unofficial trade is occurring due to open border with India and time-consuming customs procedures.</p>

<p style="text-align: justify;">According to a research recently conducted by South Asia Watch on Trade, Economics and Environment (SAWTEE), the unofficial trade between Nepal and India is equivalent to a large portion of the official trade between them. The research shows that the import of agricultural products is very high in such official trade.</p>

<p style="text-align: justify;">&nbsp;This was revealed in the report released at a programme on May 2, which said that 35-40 percent of the total unofficial trade is covered by import of agricultural products alone.</p>

<p style="text-align: justify;">According to Dr. Posh Raj Pandey, President of SAWTEE, various types of agricultural products are being imported such as seeds, chemical fertilizers, equipments in Nepal in an unofficial manner.</p>

<p style="text-align: justify;">Pandey said, &ldquo;After the government restricted import of many agricultural products, such products are being imported unofficially. Agricultural seeds are being imported in large amount from India in this way.&rdquo;</p>

<p style="text-align: justify;">The report shows that out of the total import of seeds, around 20 percent is imported through unofficial channel. Similarly, the speakers of the program said that every year, agricultural equipments worth Rs 10 million are being imported unofficially in the country.</p>

<p style="text-align: justify;">Yogendra Kumar Karki, Spokesperson of the Ministry of Agriculture Development informed that due to the high cost in import of goods through official medium and problems of quarantine test, unofficial trade is rising.</p>

<p style="text-align: justify;">&ldquo;Due to lack of storage, agricultural products are going out of the country after the production and these very products are being imported later from other countries&rdquo;, he added. He admitted that due to lack of government grant in Nepal unlike in other countries, the agricultural products are being imported from India in low prices.</p>

<p style="text-align: justify;">Rabi Shanker Sainju, Spokesperson of the Ministry of Commerce said that despite strong government policies related to agriculture sector, the unofficial trade is taking place as the implementing agencies are not strong. Sainju says, &ldquo;Unofficial import is increasing also due to weak distribution channel as well as unavailability of quality and competitive products in Nepal.&rdquo;</p>

<p style="text-align: justify;">According to expert Purushottam Ojha, the main reason behind increasing unofficial trade is open border between Nepal and India. &ldquo;If the government provides grants in agricultural products, unofficial trade in the border will be automatically minimized&rdquo;, he added.</p>
',
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			'created' => '2017-05-03',
			'modified' => '2017-05-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5608',
			'image' => '20170503040341_open border.jpg',
			'article_date' => '2017-05-03 00:00:00',
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		'Article' => array(
			'id' => '5822',
			'article_category_id' => '1',
			'title' => 'Nabil Bank Records Rs 2.68 bn Net Profit by 3rd Quarter',
			'sub_title' => '',
			'summary' => 'May 3: Nabil Bank has earned Rs 2.68 billion net profit by the third quarter of the current FY. The net profit of the bank has increased by nearly 31 percent compared to corresponding period of the last FY. During the corresponding period of the last FY, the bank earned Rs 2.05 billion net profit. The increase in net profit is attributed to increase in interest income of the bank. The bank has been able to earn Rs 4.08 billion interest income during the period. Similarly, the operating profit of the bank h',
			'content' => '<p style="text-align:justify">May 3: Nabil Bank has earned Rs 2.68 billion net profit by the third quarter of the current FY. The net profit of the bank has increased by nearly 31 percent compared to corresponding period of the last FY. During the corresponding period of the last FY, the bank earned Rs 2.05 billion net profit. The increase in net profit is attributed to increase in interest income of the bank. The bank has been able to earn Rs 4.08 billion interest income during the period. Similarly, the operating profit of the bank has increased by 35 percent to Rs 4.10 billion.</p>

<p style="text-align:justify">By the third quarter of the current FY, the paid-up capital of the bank has increased to Rs 6.18 billion. The paid-up capital has increased by 30 percent compared to the last FY. Similarly, during the review period, the bank has reserve fund of Rs 8.09 billion while its investment amounts to Rs 28.22 billion. The bank has collected Rs 117.05 billion deposit and has extended loan of Rs 90.55 billion. The earning per share (EPS) of the bank is Rs 58.22.&nbsp;</p>
',
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			'created' => '2017-05-03',
			'modified' => '2017-05-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5607',
			'image' => '20170503040038_nabil bank.jpg',
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		'Article' => array(
			'id' => '5821',
			'article_category_id' => '1',
			'title' => 'Qatar Airways Privilege Club Wins Best Rewards Programme in the Middle East, Asia and Oceania Region',
			'sub_title' => '',
			'summary' => 'May 3:  Qatar Airways’ frequent flyer programme, Privilege Club, has been voted the Best Rewards Programme for the Middle East, Asia and Oceania region in the sixth annual FlyerTalk Awards. FlyerTalk is a community of more than half a million businesses and leisure travellers dedicated to finding and sharing elite-level knowledge of air, hotel and car rental programmes.',
			'content' => '<p style="text-align: justify;">May 3: &nbsp;Qatar Airways&rsquo; frequent flyer programme, Privilege Club, has been voted the Best Rewards Programme for the Middle East, Asia and Oceania region in the sixth annual FlyerTalk Awards. FlyerTalk is a community of more than half a million businesses and leisure travellers dedicated to finding and sharing elite-level knowledge of air, hotel and car rental programmes.</p>

<p style="text-align: justify;">Qatar Airways Privilege Club overcame two-time defending champion Cathay Pacific and its frequent flyer programme to earn the number one honour. &ldquo;Qatar Airways Privilege Club is delighted to have received this award, particularly as it was voted for by our discerning members and those from the FlyerTalk community,&quot; said Dr Ian Di Tullio, Vice President, Customer Loyalty and Relationship Management of Qatar Airways. &nbsp;</p>

<p style="text-align: justify;">Qatar Airways Privilege Club has delivered a number of programme improvements over the last year, including the introduction of digital membership cards, enabling members to book award flights via the Qatar Airways App, and allowing last-minute upgrades using Qmiles, said the airlines in a press statement.</p>

<p style="text-align: justify;">&ldquo;Privilege Club members now also have a much wider choice of ways to earn and redeem their Qmiles, with new partnerships in the Middle East and beyond, covering credit cards, car-rentals, and hospitality. This includes an exciting new global relationship with AccorHotels, allowing members to redeem Qmiles for stays in some of the world&rsquo;s leading hotels,&rdquo; reads the statement</p>
',
			'published' => true,
			'created' => '2017-05-03',
			'modified' => '2017-05-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5606',
			'image' => '20170503121432_qatar airways.jpg',
			'article_date' => '2017-05-03 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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	(int) 10 => array(
		'Article' => array(
			'id' => '5820',
			'article_category_id' => '1',
			'title' => 'Vianet Launches Unlimited Internet Offer',
			'sub_title' => '',
			'summary' => 'May 3: Internet Service Provider, Vianet Communication has launched unlimited internet services to its customers.',
			'content' => '<p style="text-align: justify;">May 3: Internet Service Provider, Vianet Communication has launched unlimited internet services to its customers.</p>

<p style="text-align: justify;">The ISP service provider has brought this kind of offer for the first time. Under the package, customers can enjoy unlimited internet of 6 MBPS and 12 MBPS speed. The customer can use 6 MBPS and 12 MBPS speed internet at Rs 1,330 and Rs 1,710 respectively, informs the company in a press statement.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-03',
			'modified' => '2017-05-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5605',
			'image' => '20170503115518_vianet.jpg',
			'article_date' => '2017-05-03 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
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	(int) 11 => array(
		'Article' => array(
			'id' => '5819',
			'article_category_id' => '1',
			'title' => 'BOK Appoints Nabil Investment as Issue Manager',
			'sub_title' => '',
			'summary' => 'May 3: Bank of Kathmandu (BOK) has appointed Nabil Investment Banking as its issue manager. The both institutions sign a memorandum of understanding regarding the matter on May 2. Ajay Shrestha, CEO of BOK and Prabin Raman Parajuli, CEO of Nabil Investment signed the agreement, said the bank in a press statement.',
			'content' => '<p style="text-align: justify;">May 3: Bank of Kathmandu (BOK) has appointed Nabil Investment Banking as its issue manager. The both institutions sign a memorandum of understanding regarding the matter on May 2. Ajay Shrestha, CEO of BOK and Prabin Raman Parajuli, CEO of Nabil Investment signed the agreement, said the bank in a press statement.</p>

<p style="text-align: justify;">The bank, in a bid to restructure the share holding ratio of promoter and general shareholders to 51:49, is issuing further public offering to the promoter shareholders. On this regard, the bank is floating 6,208,132 units FPO to promoter shareholders. After the appointment, Nabil Investment will be managing the issue. &nbsp;</p>
',
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			'created' => '2017-05-03',
			'modified' => '2017-05-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5604',
			'image' => '20170503113146_bok.JPG',
			'article_date' => '2017-05-03 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
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	(int) 12 => array(
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			'id' => '5818',
			'article_category_id' => '1',
			'title' => 'Sunrise Bank Adds 3 BLB Units',
			'sub_title' => '',
			'summary' => 'May 3: Sunrise Bank has started three branchless banking (BLB) units as per its objective of providing financial services in the areas lacking banking accessibility. The bank started BLB units in Shukrabare Bazar of Illam and Chimadi Bazar and Kalabanjar of Sunsari. The bank handed over point of sale machines to local representatives to carry out the ',
			'content' => '<p style="text-align: justify;">May 3: Sunrise Bank has started three branchless banking (BLB) units as per its objective of providing financial services in the areas lacking banking accessibility. The bank started BLB units in Shukrabare Bazar of Illam and Chimadi Bazar and Kalabanjar of Sunsari. The bank handed over point of sale machines to local representatives to carry out the BLB services. With the additions, the number of BLB units of Sunrise Bank has reached 16.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-03',
			'modified' => '2017-05-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5603',
			'image' => '20170503112015_sunrise bank.jpg',
			'article_date' => '2017-05-03 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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	(int) 13 => array(
		'Article' => array(
			'id' => '5817',
			'article_category_id' => '1',
			'title' => 'Nepal SBI Bank to Issue 10:4 Right Shares',
			'sub_title' => '',
			'summary' => 'May 3: Nepal SBI Bank is issuing 10:4 right shares. The bank is set to issue the right shares from May 21 to June 25. The bank will be issuing 19,919,423.6 units of right shares with a face value of Rs 100 to its existing shareholders.',
			'content' => '<p style="text-align: justify;">May 3: Nepal SBI Bank is issuing 10:4 right shares. The bank is set to issue the right shares from May 21 to June 25. The bank will be issuing 19,919,423.6 units of right shares with a face value of Rs 100 to its existing shareholders.</p>

<p style="text-align: justify;">The shareholders registered in the bank&rsquo;s share-book by May 9 will be eligible to apply for the right shares. The bank has appointed NMB Capital Ltd as its issue manager. The interested shareholders can apply for the right shares from all the branches of Nepal SBI Bank. Moreover, shareholders can submit their right share application in Nepal SBI Merchant Banking, Hattisar, Kathmandu and NMB Capital Ltd, Naag Pokhari, Kathmandu.</p>

<p style="text-align: justify;">Presently, the bank has paid-up capital of Rs 4.97 billion. After the issuance of the right share, the paid-up capital will reach Rs 6.97 billion.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-03',
			'modified' => '2017-05-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5602',
			'image' => '20170503110904_sbi.jpg',
			'article_date' => '2017-05-03 00:00:00',
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			'id' => '5816',
			'article_category_id' => '1',
			'title' => 'Government Neglecting Insurance of Hydropower Projects',
			'sub_title' => '',
			'summary' => 'May 2: The government has not insured the hydropower projects it has constructed so far. Due to which, the private sector is also being insensitive regarding this issue.',
			'content' => '<p style="text-align: justify;">May 2: The government has not insured the hydropower projects it has constructed so far. Due to which, the private sector is also being insensitive regarding this issue.</p>

<p style="text-align: justify;">However, the hydropower promoters have now realized the need of insurance due to the heavy damages caused by the devastating earthquake two years ago.</p>

<p style="text-align: justify;">The private sector is now attracted towards insurance assuming unexpected damages of tens of millions of rupees caused by natural disasters. But most of the private sector hydropower projects have insured only after generating electricity.</p>

<p style="text-align: justify;">According to Bir Bikram Rayamajhi, CEO of Rastriya Beema Company, there are very few companies which are interested in insurance. &ldquo;It is important to insure at the very time of construction of the project,&rdquo; he said.</p>

<p style="text-align: justify;">While developing hydropower projects, construction phase is regarded as a sensitive stage. Sanjeev Neupane, Managing Director of Api Power Company says there is no clear policy regarding the basis for which insurance can be done. &ldquo;The size, investment and capacity of hydropower projects are different,&rdquo; he said, adding, &ldquo;The implementation will be easy if the policy clearly mentions the insurance amount according to its size.&rdquo;</p>

<p style="text-align: justify;">However, Rayamajhi says that a company can opt for insurance as per its own interest. All kinds of damages can be fulfilled by insurance in hydropower projects, he added.</p>

<p style="text-align: justify;">The Insurance Company has already issued Rs 3.5 million to Chilime Hydropower Project for the damage caused on its administrative building by April 25, 2015 earthquake. Nevertheless, he informed that no other companies have claimed for insurance as yet.</p>

<p style="text-align: justify;">Likewise, Uttar Kumar Shrestha, CEO of Butwal Power Company (BPC) says that the insurance has provisions that damages caused by fire, floods and landslides and earthquakes are fulfilled by insurance companies, but the general understanding is the opposite. He said the promoters only insure projects for formality. He further added, &ldquo;Therefore, there is a need to make people aware about the reality.&rdquo;&nbsp;&nbsp;</p>
',
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			'sortorder' => '5601',
			'image' => '20170502054507_insurance.jpg',
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$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'
$dataForView = array(
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$articles = array(
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		'Article' => array(
			'id' => '5830',
			'article_category_id' => '1',
			'title' => 'Bhattarai Elected Chairman of Surya Life',
			'sub_title' => '',
			'summary' => 'May 4: Keshav Prasad Bhattarai has been elected as chairman of Surya Life Insurance.',
			'content' => '<p style="text-align: justify;">May 4: Keshav Prasad Bhattarai has been elected as chairman of Surya Life Insurance.</p>

<p style="text-align: justify;">The board of directors&rsquo; (BOD) meeting held on May 3 elected Bhattarai to the post of chairman.</p>

<p style="text-align: justify;">Previously, Bhattarai served Commission for the Investigation of Abuse of Authority (CIAA), National Planning Commission and Consulate General of Nepal to Hongkong office, said the company in a press statement.</p>

<p style="text-align: justify;">&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-04',
			'modified' => '2017-05-04',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5615',
			'image' => '20170504113113_surya life.jpg',
			'article_date' => '2017-05-04 00:00:00',
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			'id' => '5829',
			'article_category_id' => '1',
			'title' => 'Srijana Finance Starts Branch at Chakragatti',
			'sub_title' => '',
			'summary' => 'May 4: Srijana Finance has started a branch at Chakragatti of Sunsari. Lila Dhungel, Director of the finance company inaugurated the branch amid a program.',
			'content' => '<p style="text-align: justify;">May 4: Srijana Finance has started a branch at Chakragatti of Sunsari. Lila Dhungel, Director of the finance company inaugurated the branch amid a program.</p>

<p style="text-align: justify;">&ldquo;The branch has been started as per the objective of expanding the branch in rural areas,&rdquo; said Suyash Pyakurel, Chairman of the company.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-04',
			'modified' => '2017-05-04',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5614',
			'image' => '20170504111319_srijana.jpg',
			'article_date' => '2017-05-04 00:00:00',
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			'id' => '5828',
			'article_category_id' => '1',
			'title' => 'Reliance Opens Branch at Aarughat',
			'sub_title' => '',
			'summary' => 'May 4: Reliance Finance has started a branch at Aarughat of Gorkha.  Dharmendra Kaji Shrestha, Chairman of the finance company inaugurated the branch amid a program.',
			'content' => '<p style="text-align: justify;">May 4: Reliance Finance has started a branch at Aarughat of Gorkha.</p>

<p style="text-align: justify;">Dharmendra Kaji Shrestha, Chairman of the finance company inaugurated the branch amid a program.</p>

<p style="text-align: justify;">In the program, Chairman Shrestha said that the branch has been started in a bid to provide financial services in rural area.</p>

<p style="text-align: justify;">&nbsp;The company having Rs 512.5 million paid-up capital is serving its customers through seven branches.</p>

<p style="text-align: justify;">&nbsp;</p>
',
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			'created' => '2017-05-04',
			'modified' => '2017-05-04',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5613',
			'image' => '20170504110617_reliance.jpg',
			'article_date' => '2017-05-04 00:00:00',
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			'id' => '5827',
			'article_category_id' => '1',
			'title' => 'Civil Bank Appoints Laxmi Capital as Issue Manager',
			'sub_title' => '',
			'summary' => 'May 4: Civil Bank has appointed Laxmi Capital Market Ltd as its issue manager.',
			'content' => '<p style="text-align: justify;">May 4: Civil Bank has appointed Laxmi Capital Market Ltd as its issue manager.</p>

<p style="text-align: justify;">Issuing a press statement, the bank said that it appointed the issue manager to manage the 30 percent right shares of the paid-up capital maintained after acquiring Unique Finance and Hama Merchant and Finance.</p>

<p style="text-align: justify;">Moreover, Laxmi Capital will also manage the bonus share to be endorsed by the forthcoming general meeting.</p>

<p style="text-align: justify;">Govinda Gurung, Acting CEO of the bank and Rajeev Sapkota, CEO of Laxmi Capital signed an agreement paper regarding the matter.</p>

<p style="text-align: justify;">&nbsp;</p>
',
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			'created' => '2017-05-04',
			'modified' => '2017-05-04',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5612',
			'image' => '20170504105820_civil.jpg',
			'article_date' => '2017-05-04 00:00:00',
			'homepage' => false,
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		'Article' => array(
			'id' => '5826',
			'article_category_id' => '1',
			'title' => 'NIBL’s Profit Exceeds Rs 2 billion',
			'sub_title' => '',
			'summary' => 'May 3: Nepal Investment Bank (NIBL) has earned Rs 2.37 billion net profit by the third quarter of the current FY. The net profit of the bank increased by nearly 27 percent compared to corresponding period of the last FY. The bank has been able to recover Rs 205.4 million bad debts during the review period.',
			'content' => '<p style="text-align: justify;">May 3: Nepal Investment Bank (NIBL) has earned Rs 2.37 billion net profit by the third quarter of the current FY. The net profit of the bank increased by nearly 27 percent compared to corresponding period of the last FY. The bank has been able to recover Rs 205.4 million bad debts during the review period.</p>

<p style="text-align: justify;">&nbsp;Similarly, operating profit of the bank has increased by 41 percent by the third quarter of the current FY. During the period, paid-up capital of the bank increased by 20 percent to Rs 8.74 billion and its reserve fund amounted to Rs 9.95 billion. By the third quarter, investment of the bank has increased by 17 percent to Rs 25.36 billion. The bank earned Rs 11.66 billion through foreign currency exchange.</p>

<p style="text-align: justify;">&nbsp;According to the financial report of the third quarter, the bank earned interest income and operating profit of Rs 3.47 billion and 3.45 billion respectively.&nbsp; The bank has earning per share (EPS) of Rs 36.24, P/E ratio of 21.24 and net worth per share of Rs 213.86.&nbsp;</p>
',
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			'created' => '2017-05-03',
			'modified' => '2017-05-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5611',
			'image' => '20170503051923_nibl.jpg',
			'article_date' => '2017-05-03 00:00:00',
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		'Article' => array(
			'id' => '5825',
			'article_category_id' => '1',
			'title' => '‘Today's Telegram’ Launched at Pulchowk',
			'sub_title' => '',
			'summary' => 'May 3: A new startup which intends to provide pure leather products to its customers has opened its first outlet at Jhamsikhel road, Pulchowk in Lalitpur.',
			'content' => '<p style="text-align:justify">May 3: A new startup which intends to provide pure leather products to its customers has opened its first outlet at Jhamsikhel road, Pulchowk in Lalitpur.</p>

<p style="text-align:justify">The venture &#39;Today&#39;s Telegram&#39; opened on May 2 designs daily use products such as bean bags, handmade diaries, embossing bags, duffle bags and purses made out of leather and also lap bags, eco-friendly yoga mats and bags made out of hemp in its factory located in Biratnagar.</p>

<p style="text-align:justify">&quot;First, we exported our products and now it is time for us to introduce them to the Nepali market,&quot; says Faiza Parween, Communications and Brand Head of the venture. The price of the product ranges from Rs 500- Rs 11,000.</p>

<p style="text-align:justify">The venture also organised a photo exhibition entitled &#39;Nepal in 60&#39;s on April 25 parallel to the launch of its outlet. The exhibition which concluded on May 2 features 200 photos taken by David Templeman, an Australian Professor from Monash University.</p>

<p style="text-align:justify">He clicked the pictures with the themes including panaroma to lifestyle in different areas of Nepal from 1967-1969.</p>

<p style="text-align:justify">&#39;We will be using the fund raised in the exhibition to install dustbins around Kathmandu,&quot; said Faija Parween, Communications and Brand Head of the venture and Operations Director at Open Space Nepal.</p>

<p style="text-align:justify">&quot;Installation of dustbins will be carried out as a year-long project through Open Space Network,&quot; said Parween.</p>

<p style="text-align:justify">&nbsp;</p>
',
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			'created' => '2017-05-03',
			'modified' => '2017-05-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5610',
			'image' => '20170503045643_today\'s telegram.jpg',
			'article_date' => '2017-05-03 00:00:00',
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			'id' => '5824',
			'article_category_id' => '1',
			'title' => 'SEBON Approves Right Issue of  Everest Bank',
			'sub_title' => '',
			'summary' => 'May 3: Securities Board of Nepal (SEBON) has approved right issue of Everest bank. The bank will now issue 3:1 right shares to its existing shareholders. The bank is set to issue 15,088, 087 units of right shares with the face value of Rs 100. NIBL Capital market will be managing the right issue of the bank. By the third quarter of the',
			'content' => '<p style="text-align:justify">May 3: Securities Board of Nepal (SEBON) has approved right issue of Everest bank. The bank will now issue 3:1 right shares to its existing shareholders. The bank is set to issue 15,088, 087 units of right shares with the face value of Rs 100. NIBL Capital market will be managing the right issue of the bank. By the third quarter of the current FY, the bank has earned Rs 1.52 billion net profit. The bank has paid-up capital of Rs 4.60 billion.&nbsp;</p>
',
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			'created' => '2017-05-03',
			'modified' => '2017-05-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5609',
			'image' => '20170503045502_ever.jpg',
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	(int) 7 => array(
		'Article' => array(
			'id' => '5823',
			'article_category_id' => '1',
			'title' => 'Open Border Increasing Unofficial Trade',
			'sub_title' => '',
			'summary' => 'May 3: Unofficial trade is occurring due to open border with India and time-consuming customs procedures.',
			'content' => '<p style="text-align: justify;">May 3: Unofficial trade is occurring due to open border with India and time-consuming customs procedures.</p>

<p style="text-align: justify;">According to a research recently conducted by South Asia Watch on Trade, Economics and Environment (SAWTEE), the unofficial trade between Nepal and India is equivalent to a large portion of the official trade between them. The research shows that the import of agricultural products is very high in such official trade.</p>

<p style="text-align: justify;">&nbsp;This was revealed in the report released at a programme on May 2, which said that 35-40 percent of the total unofficial trade is covered by import of agricultural products alone.</p>

<p style="text-align: justify;">According to Dr. Posh Raj Pandey, President of SAWTEE, various types of agricultural products are being imported such as seeds, chemical fertilizers, equipments in Nepal in an unofficial manner.</p>

<p style="text-align: justify;">Pandey said, &ldquo;After the government restricted import of many agricultural products, such products are being imported unofficially. Agricultural seeds are being imported in large amount from India in this way.&rdquo;</p>

<p style="text-align: justify;">The report shows that out of the total import of seeds, around 20 percent is imported through unofficial channel. Similarly, the speakers of the program said that every year, agricultural equipments worth Rs 10 million are being imported unofficially in the country.</p>

<p style="text-align: justify;">Yogendra Kumar Karki, Spokesperson of the Ministry of Agriculture Development informed that due to the high cost in import of goods through official medium and problems of quarantine test, unofficial trade is rising.</p>

<p style="text-align: justify;">&ldquo;Due to lack of storage, agricultural products are going out of the country after the production and these very products are being imported later from other countries&rdquo;, he added. He admitted that due to lack of government grant in Nepal unlike in other countries, the agricultural products are being imported from India in low prices.</p>

<p style="text-align: justify;">Rabi Shanker Sainju, Spokesperson of the Ministry of Commerce said that despite strong government policies related to agriculture sector, the unofficial trade is taking place as the implementing agencies are not strong. Sainju says, &ldquo;Unofficial import is increasing also due to weak distribution channel as well as unavailability of quality and competitive products in Nepal.&rdquo;</p>

<p style="text-align: justify;">According to expert Purushottam Ojha, the main reason behind increasing unofficial trade is open border between Nepal and India. &ldquo;If the government provides grants in agricultural products, unofficial trade in the border will be automatically minimized&rdquo;, he added.</p>
',
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			'created' => '2017-05-03',
			'modified' => '2017-05-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5608',
			'image' => '20170503040341_open border.jpg',
			'article_date' => '2017-05-03 00:00:00',
			'homepage' => false,
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	(int) 8 => array(
		'Article' => array(
			'id' => '5822',
			'article_category_id' => '1',
			'title' => 'Nabil Bank Records Rs 2.68 bn Net Profit by 3rd Quarter',
			'sub_title' => '',
			'summary' => 'May 3: Nabil Bank has earned Rs 2.68 billion net profit by the third quarter of the current FY. The net profit of the bank has increased by nearly 31 percent compared to corresponding period of the last FY. During the corresponding period of the last FY, the bank earned Rs 2.05 billion net profit. The increase in net profit is attributed to increase in interest income of the bank. The bank has been able to earn Rs 4.08 billion interest income during the period. Similarly, the operating profit of the bank h',
			'content' => '<p style="text-align:justify">May 3: Nabil Bank has earned Rs 2.68 billion net profit by the third quarter of the current FY. The net profit of the bank has increased by nearly 31 percent compared to corresponding period of the last FY. During the corresponding period of the last FY, the bank earned Rs 2.05 billion net profit. The increase in net profit is attributed to increase in interest income of the bank. The bank has been able to earn Rs 4.08 billion interest income during the period. Similarly, the operating profit of the bank has increased by 35 percent to Rs 4.10 billion.</p>

<p style="text-align:justify">By the third quarter of the current FY, the paid-up capital of the bank has increased to Rs 6.18 billion. The paid-up capital has increased by 30 percent compared to the last FY. Similarly, during the review period, the bank has reserve fund of Rs 8.09 billion while its investment amounts to Rs 28.22 billion. The bank has collected Rs 117.05 billion deposit and has extended loan of Rs 90.55 billion. The earning per share (EPS) of the bank is Rs 58.22.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-03',
			'modified' => '2017-05-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5607',
			'image' => '20170503040038_nabil bank.jpg',
			'article_date' => '2017-05-03 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
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	),
	(int) 9 => array(
		'Article' => array(
			'id' => '5821',
			'article_category_id' => '1',
			'title' => 'Qatar Airways Privilege Club Wins Best Rewards Programme in the Middle East, Asia and Oceania Region',
			'sub_title' => '',
			'summary' => 'May 3:  Qatar Airways’ frequent flyer programme, Privilege Club, has been voted the Best Rewards Programme for the Middle East, Asia and Oceania region in the sixth annual FlyerTalk Awards. FlyerTalk is a community of more than half a million businesses and leisure travellers dedicated to finding and sharing elite-level knowledge of air, hotel and car rental programmes.',
			'content' => '<p style="text-align: justify;">May 3: &nbsp;Qatar Airways&rsquo; frequent flyer programme, Privilege Club, has been voted the Best Rewards Programme for the Middle East, Asia and Oceania region in the sixth annual FlyerTalk Awards. FlyerTalk is a community of more than half a million businesses and leisure travellers dedicated to finding and sharing elite-level knowledge of air, hotel and car rental programmes.</p>

<p style="text-align: justify;">Qatar Airways Privilege Club overcame two-time defending champion Cathay Pacific and its frequent flyer programme to earn the number one honour. &ldquo;Qatar Airways Privilege Club is delighted to have received this award, particularly as it was voted for by our discerning members and those from the FlyerTalk community,&quot; said Dr Ian Di Tullio, Vice President, Customer Loyalty and Relationship Management of Qatar Airways. &nbsp;</p>

<p style="text-align: justify;">Qatar Airways Privilege Club has delivered a number of programme improvements over the last year, including the introduction of digital membership cards, enabling members to book award flights via the Qatar Airways App, and allowing last-minute upgrades using Qmiles, said the airlines in a press statement.</p>

<p style="text-align: justify;">&ldquo;Privilege Club members now also have a much wider choice of ways to earn and redeem their Qmiles, with new partnerships in the Middle East and beyond, covering credit cards, car-rentals, and hospitality. This includes an exciting new global relationship with AccorHotels, allowing members to redeem Qmiles for stays in some of the world&rsquo;s leading hotels,&rdquo; reads the statement</p>
',
			'published' => true,
			'created' => '2017-05-03',
			'modified' => '2017-05-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5606',
			'image' => '20170503121432_qatar airways.jpg',
			'article_date' => '2017-05-03 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
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	),
	(int) 10 => array(
		'Article' => array(
			'id' => '5820',
			'article_category_id' => '1',
			'title' => 'Vianet Launches Unlimited Internet Offer',
			'sub_title' => '',
			'summary' => 'May 3: Internet Service Provider, Vianet Communication has launched unlimited internet services to its customers.',
			'content' => '<p style="text-align: justify;">May 3: Internet Service Provider, Vianet Communication has launched unlimited internet services to its customers.</p>

<p style="text-align: justify;">The ISP service provider has brought this kind of offer for the first time. Under the package, customers can enjoy unlimited internet of 6 MBPS and 12 MBPS speed. The customer can use 6 MBPS and 12 MBPS speed internet at Rs 1,330 and Rs 1,710 respectively, informs the company in a press statement.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-03',
			'modified' => '2017-05-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5605',
			'image' => '20170503115518_vianet.jpg',
			'article_date' => '2017-05-03 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 11 => array(
		'Article' => array(
			'id' => '5819',
			'article_category_id' => '1',
			'title' => 'BOK Appoints Nabil Investment as Issue Manager',
			'sub_title' => '',
			'summary' => 'May 3: Bank of Kathmandu (BOK) has appointed Nabil Investment Banking as its issue manager. The both institutions sign a memorandum of understanding regarding the matter on May 2. Ajay Shrestha, CEO of BOK and Prabin Raman Parajuli, CEO of Nabil Investment signed the agreement, said the bank in a press statement.',
			'content' => '<p style="text-align: justify;">May 3: Bank of Kathmandu (BOK) has appointed Nabil Investment Banking as its issue manager. The both institutions sign a memorandum of understanding regarding the matter on May 2. Ajay Shrestha, CEO of BOK and Prabin Raman Parajuli, CEO of Nabil Investment signed the agreement, said the bank in a press statement.</p>

<p style="text-align: justify;">The bank, in a bid to restructure the share holding ratio of promoter and general shareholders to 51:49, is issuing further public offering to the promoter shareholders. On this regard, the bank is floating 6,208,132 units FPO to promoter shareholders. After the appointment, Nabil Investment will be managing the issue. &nbsp;</p>
',
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			'created' => '2017-05-03',
			'modified' => '2017-05-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5604',
			'image' => '20170503113146_bok.JPG',
			'article_date' => '2017-05-03 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
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	(int) 12 => array(
		'Article' => array(
			'id' => '5818',
			'article_category_id' => '1',
			'title' => 'Sunrise Bank Adds 3 BLB Units',
			'sub_title' => '',
			'summary' => 'May 3: Sunrise Bank has started three branchless banking (BLB) units as per its objective of providing financial services in the areas lacking banking accessibility. The bank started BLB units in Shukrabare Bazar of Illam and Chimadi Bazar and Kalabanjar of Sunsari. The bank handed over point of sale machines to local representatives to carry out the ',
			'content' => '<p style="text-align: justify;">May 3: Sunrise Bank has started three branchless banking (BLB) units as per its objective of providing financial services in the areas lacking banking accessibility. The bank started BLB units in Shukrabare Bazar of Illam and Chimadi Bazar and Kalabanjar of Sunsari. The bank handed over point of sale machines to local representatives to carry out the BLB services. With the additions, the number of BLB units of Sunrise Bank has reached 16.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-03',
			'modified' => '2017-05-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5603',
			'image' => '20170503112015_sunrise bank.jpg',
			'article_date' => '2017-05-03 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
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	(int) 13 => array(
		'Article' => array(
			'id' => '5817',
			'article_category_id' => '1',
			'title' => 'Nepal SBI Bank to Issue 10:4 Right Shares',
			'sub_title' => '',
			'summary' => 'May 3: Nepal SBI Bank is issuing 10:4 right shares. The bank is set to issue the right shares from May 21 to June 25. The bank will be issuing 19,919,423.6 units of right shares with a face value of Rs 100 to its existing shareholders.',
			'content' => '<p style="text-align: justify;">May 3: Nepal SBI Bank is issuing 10:4 right shares. The bank is set to issue the right shares from May 21 to June 25. The bank will be issuing 19,919,423.6 units of right shares with a face value of Rs 100 to its existing shareholders.</p>

<p style="text-align: justify;">The shareholders registered in the bank&rsquo;s share-book by May 9 will be eligible to apply for the right shares. The bank has appointed NMB Capital Ltd as its issue manager. The interested shareholders can apply for the right shares from all the branches of Nepal SBI Bank. Moreover, shareholders can submit their right share application in Nepal SBI Merchant Banking, Hattisar, Kathmandu and NMB Capital Ltd, Naag Pokhari, Kathmandu.</p>

<p style="text-align: justify;">Presently, the bank has paid-up capital of Rs 4.97 billion. After the issuance of the right share, the paid-up capital will reach Rs 6.97 billion.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-03',
			'modified' => '2017-05-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5602',
			'image' => '20170503110904_sbi.jpg',
			'article_date' => '2017-05-03 00:00:00',
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	(int) 14 => array(
		'Article' => array(
			'id' => '5816',
			'article_category_id' => '1',
			'title' => 'Government Neglecting Insurance of Hydropower Projects',
			'sub_title' => '',
			'summary' => 'May 2: The government has not insured the hydropower projects it has constructed so far. Due to which, the private sector is also being insensitive regarding this issue.',
			'content' => '<p style="text-align: justify;">May 2: The government has not insured the hydropower projects it has constructed so far. Due to which, the private sector is also being insensitive regarding this issue.</p>

<p style="text-align: justify;">However, the hydropower promoters have now realized the need of insurance due to the heavy damages caused by the devastating earthquake two years ago.</p>

<p style="text-align: justify;">The private sector is now attracted towards insurance assuming unexpected damages of tens of millions of rupees caused by natural disasters. But most of the private sector hydropower projects have insured only after generating electricity.</p>

<p style="text-align: justify;">According to Bir Bikram Rayamajhi, CEO of Rastriya Beema Company, there are very few companies which are interested in insurance. &ldquo;It is important to insure at the very time of construction of the project,&rdquo; he said.</p>

<p style="text-align: justify;">While developing hydropower projects, construction phase is regarded as a sensitive stage. Sanjeev Neupane, Managing Director of Api Power Company says there is no clear policy regarding the basis for which insurance can be done. &ldquo;The size, investment and capacity of hydropower projects are different,&rdquo; he said, adding, &ldquo;The implementation will be easy if the policy clearly mentions the insurance amount according to its size.&rdquo;</p>

<p style="text-align: justify;">However, Rayamajhi says that a company can opt for insurance as per its own interest. All kinds of damages can be fulfilled by insurance in hydropower projects, he added.</p>

<p style="text-align: justify;">The Insurance Company has already issued Rs 3.5 million to Chilime Hydropower Project for the damage caused on its administrative building by April 25, 2015 earthquake. Nevertheless, he informed that no other companies have claimed for insurance as yet.</p>

<p style="text-align: justify;">Likewise, Uttar Kumar Shrestha, CEO of Butwal Power Company (BPC) says that the insurance has provisions that damages caused by fire, floods and landslides and earthquakes are fulfilled by insurance companies, but the general understanding is the opposite. He said the promoters only insure projects for formality. He further added, &ldquo;Therefore, there is a need to make people aware about the reality.&rdquo;&nbsp;&nbsp;</p>
',
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			'keywords' => '',
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			'sortorder' => '5601',
			'image' => '20170502054507_insurance.jpg',
			'article_date' => '2017-05-02 00:00:00',
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)
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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
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$articles = array(
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		'Article' => array(
			'id' => '5830',
			'article_category_id' => '1',
			'title' => 'Bhattarai Elected Chairman of Surya Life',
			'sub_title' => '',
			'summary' => 'May 4: Keshav Prasad Bhattarai has been elected as chairman of Surya Life Insurance.',
			'content' => '<p style="text-align: justify;">May 4: Keshav Prasad Bhattarai has been elected as chairman of Surya Life Insurance.</p>

<p style="text-align: justify;">The board of directors&rsquo; (BOD) meeting held on May 3 elected Bhattarai to the post of chairman.</p>

<p style="text-align: justify;">Previously, Bhattarai served Commission for the Investigation of Abuse of Authority (CIAA), National Planning Commission and Consulate General of Nepal to Hongkong office, said the company in a press statement.</p>

<p style="text-align: justify;">&nbsp;</p>
',
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			'created' => '2017-05-04',
			'modified' => '2017-05-04',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5615',
			'image' => '20170504113113_surya life.jpg',
			'article_date' => '2017-05-04 00:00:00',
			'homepage' => false,
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		'Article' => array(
			'id' => '5829',
			'article_category_id' => '1',
			'title' => 'Srijana Finance Starts Branch at Chakragatti',
			'sub_title' => '',
			'summary' => 'May 4: Srijana Finance has started a branch at Chakragatti of Sunsari. Lila Dhungel, Director of the finance company inaugurated the branch amid a program.',
			'content' => '<p style="text-align: justify;">May 4: Srijana Finance has started a branch at Chakragatti of Sunsari. Lila Dhungel, Director of the finance company inaugurated the branch amid a program.</p>

<p style="text-align: justify;">&ldquo;The branch has been started as per the objective of expanding the branch in rural areas,&rdquo; said Suyash Pyakurel, Chairman of the company.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-04',
			'modified' => '2017-05-04',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5614',
			'image' => '20170504111319_srijana.jpg',
			'article_date' => '2017-05-04 00:00:00',
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			'breaking_news' => false,
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			'in_scroller' => false,
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		'Article' => array(
			'id' => '5828',
			'article_category_id' => '1',
			'title' => 'Reliance Opens Branch at Aarughat',
			'sub_title' => '',
			'summary' => 'May 4: Reliance Finance has started a branch at Aarughat of Gorkha.  Dharmendra Kaji Shrestha, Chairman of the finance company inaugurated the branch amid a program.',
			'content' => '<p style="text-align: justify;">May 4: Reliance Finance has started a branch at Aarughat of Gorkha.</p>

<p style="text-align: justify;">Dharmendra Kaji Shrestha, Chairman of the finance company inaugurated the branch amid a program.</p>

<p style="text-align: justify;">In the program, Chairman Shrestha said that the branch has been started in a bid to provide financial services in rural area.</p>

<p style="text-align: justify;">&nbsp;The company having Rs 512.5 million paid-up capital is serving its customers through seven branches.</p>

<p style="text-align: justify;">&nbsp;</p>
',
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			'created' => '2017-05-04',
			'modified' => '2017-05-04',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5613',
			'image' => '20170504110617_reliance.jpg',
			'article_date' => '2017-05-04 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 3 => array(
		'Article' => array(
			'id' => '5827',
			'article_category_id' => '1',
			'title' => 'Civil Bank Appoints Laxmi Capital as Issue Manager',
			'sub_title' => '',
			'summary' => 'May 4: Civil Bank has appointed Laxmi Capital Market Ltd as its issue manager.',
			'content' => '<p style="text-align: justify;">May 4: Civil Bank has appointed Laxmi Capital Market Ltd as its issue manager.</p>

<p style="text-align: justify;">Issuing a press statement, the bank said that it appointed the issue manager to manage the 30 percent right shares of the paid-up capital maintained after acquiring Unique Finance and Hama Merchant and Finance.</p>

<p style="text-align: justify;">Moreover, Laxmi Capital will also manage the bonus share to be endorsed by the forthcoming general meeting.</p>

<p style="text-align: justify;">Govinda Gurung, Acting CEO of the bank and Rajeev Sapkota, CEO of Laxmi Capital signed an agreement paper regarding the matter.</p>

<p style="text-align: justify;">&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-04',
			'modified' => '2017-05-04',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5612',
			'image' => '20170504105820_civil.jpg',
			'article_date' => '2017-05-04 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 4 => array(
		'Article' => array(
			'id' => '5826',
			'article_category_id' => '1',
			'title' => 'NIBL’s Profit Exceeds Rs 2 billion',
			'sub_title' => '',
			'summary' => 'May 3: Nepal Investment Bank (NIBL) has earned Rs 2.37 billion net profit by the third quarter of the current FY. The net profit of the bank increased by nearly 27 percent compared to corresponding period of the last FY. The bank has been able to recover Rs 205.4 million bad debts during the review period.',
			'content' => '<p style="text-align: justify;">May 3: Nepal Investment Bank (NIBL) has earned Rs 2.37 billion net profit by the third quarter of the current FY. The net profit of the bank increased by nearly 27 percent compared to corresponding period of the last FY. The bank has been able to recover Rs 205.4 million bad debts during the review period.</p>

<p style="text-align: justify;">&nbsp;Similarly, operating profit of the bank has increased by 41 percent by the third quarter of the current FY. During the period, paid-up capital of the bank increased by 20 percent to Rs 8.74 billion and its reserve fund amounted to Rs 9.95 billion. By the third quarter, investment of the bank has increased by 17 percent to Rs 25.36 billion. The bank earned Rs 11.66 billion through foreign currency exchange.</p>

<p style="text-align: justify;">&nbsp;According to the financial report of the third quarter, the bank earned interest income and operating profit of Rs 3.47 billion and 3.45 billion respectively.&nbsp; The bank has earning per share (EPS) of Rs 36.24, P/E ratio of 21.24 and net worth per share of Rs 213.86.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-03',
			'modified' => '2017-05-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5611',
			'image' => '20170503051923_nibl.jpg',
			'article_date' => '2017-05-03 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
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	),
	(int) 5 => array(
		'Article' => array(
			'id' => '5825',
			'article_category_id' => '1',
			'title' => '‘Today's Telegram’ Launched at Pulchowk',
			'sub_title' => '',
			'summary' => 'May 3: A new startup which intends to provide pure leather products to its customers has opened its first outlet at Jhamsikhel road, Pulchowk in Lalitpur.',
			'content' => '<p style="text-align:justify">May 3: A new startup which intends to provide pure leather products to its customers has opened its first outlet at Jhamsikhel road, Pulchowk in Lalitpur.</p>

<p style="text-align:justify">The venture &#39;Today&#39;s Telegram&#39; opened on May 2 designs daily use products such as bean bags, handmade diaries, embossing bags, duffle bags and purses made out of leather and also lap bags, eco-friendly yoga mats and bags made out of hemp in its factory located in Biratnagar.</p>

<p style="text-align:justify">&quot;First, we exported our products and now it is time for us to introduce them to the Nepali market,&quot; says Faiza Parween, Communications and Brand Head of the venture. The price of the product ranges from Rs 500- Rs 11,000.</p>

<p style="text-align:justify">The venture also organised a photo exhibition entitled &#39;Nepal in 60&#39;s on April 25 parallel to the launch of its outlet. The exhibition which concluded on May 2 features 200 photos taken by David Templeman, an Australian Professor from Monash University.</p>

<p style="text-align:justify">He clicked the pictures with the themes including panaroma to lifestyle in different areas of Nepal from 1967-1969.</p>

<p style="text-align:justify">&#39;We will be using the fund raised in the exhibition to install dustbins around Kathmandu,&quot; said Faija Parween, Communications and Brand Head of the venture and Operations Director at Open Space Nepal.</p>

<p style="text-align:justify">&quot;Installation of dustbins will be carried out as a year-long project through Open Space Network,&quot; said Parween.</p>

<p style="text-align:justify">&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-03',
			'modified' => '2017-05-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5610',
			'image' => '20170503045643_today\'s telegram.jpg',
			'article_date' => '2017-05-03 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 6 => array(
		'Article' => array(
			'id' => '5824',
			'article_category_id' => '1',
			'title' => 'SEBON Approves Right Issue of  Everest Bank',
			'sub_title' => '',
			'summary' => 'May 3: Securities Board of Nepal (SEBON) has approved right issue of Everest bank. The bank will now issue 3:1 right shares to its existing shareholders. The bank is set to issue 15,088, 087 units of right shares with the face value of Rs 100. NIBL Capital market will be managing the right issue of the bank. By the third quarter of the',
			'content' => '<p style="text-align:justify">May 3: Securities Board of Nepal (SEBON) has approved right issue of Everest bank. The bank will now issue 3:1 right shares to its existing shareholders. The bank is set to issue 15,088, 087 units of right shares with the face value of Rs 100. NIBL Capital market will be managing the right issue of the bank. By the third quarter of the current FY, the bank has earned Rs 1.52 billion net profit. The bank has paid-up capital of Rs 4.60 billion.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-03',
			'modified' => '2017-05-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5609',
			'image' => '20170503045502_ever.jpg',
			'article_date' => '2017-05-03 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 7 => array(
		'Article' => array(
			'id' => '5823',
			'article_category_id' => '1',
			'title' => 'Open Border Increasing Unofficial Trade',
			'sub_title' => '',
			'summary' => 'May 3: Unofficial trade is occurring due to open border with India and time-consuming customs procedures.',
			'content' => '<p style="text-align: justify;">May 3: Unofficial trade is occurring due to open border with India and time-consuming customs procedures.</p>

<p style="text-align: justify;">According to a research recently conducted by South Asia Watch on Trade, Economics and Environment (SAWTEE), the unofficial trade between Nepal and India is equivalent to a large portion of the official trade between them. The research shows that the import of agricultural products is very high in such official trade.</p>

<p style="text-align: justify;">&nbsp;This was revealed in the report released at a programme on May 2, which said that 35-40 percent of the total unofficial trade is covered by import of agricultural products alone.</p>

<p style="text-align: justify;">According to Dr. Posh Raj Pandey, President of SAWTEE, various types of agricultural products are being imported such as seeds, chemical fertilizers, equipments in Nepal in an unofficial manner.</p>

<p style="text-align: justify;">Pandey said, &ldquo;After the government restricted import of many agricultural products, such products are being imported unofficially. Agricultural seeds are being imported in large amount from India in this way.&rdquo;</p>

<p style="text-align: justify;">The report shows that out of the total import of seeds, around 20 percent is imported through unofficial channel. Similarly, the speakers of the program said that every year, agricultural equipments worth Rs 10 million are being imported unofficially in the country.</p>

<p style="text-align: justify;">Yogendra Kumar Karki, Spokesperson of the Ministry of Agriculture Development informed that due to the high cost in import of goods through official medium and problems of quarantine test, unofficial trade is rising.</p>

<p style="text-align: justify;">&ldquo;Due to lack of storage, agricultural products are going out of the country after the production and these very products are being imported later from other countries&rdquo;, he added. He admitted that due to lack of government grant in Nepal unlike in other countries, the agricultural products are being imported from India in low prices.</p>

<p style="text-align: justify;">Rabi Shanker Sainju, Spokesperson of the Ministry of Commerce said that despite strong government policies related to agriculture sector, the unofficial trade is taking place as the implementing agencies are not strong. Sainju says, &ldquo;Unofficial import is increasing also due to weak distribution channel as well as unavailability of quality and competitive products in Nepal.&rdquo;</p>

<p style="text-align: justify;">According to expert Purushottam Ojha, the main reason behind increasing unofficial trade is open border between Nepal and India. &ldquo;If the government provides grants in agricultural products, unofficial trade in the border will be automatically minimized&rdquo;, he added.</p>
',
			'published' => true,
			'created' => '2017-05-03',
			'modified' => '2017-05-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5608',
			'image' => '20170503040341_open border.jpg',
			'article_date' => '2017-05-03 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 8 => array(
		'Article' => array(
			'id' => '5822',
			'article_category_id' => '1',
			'title' => 'Nabil Bank Records Rs 2.68 bn Net Profit by 3rd Quarter',
			'sub_title' => '',
			'summary' => 'May 3: Nabil Bank has earned Rs 2.68 billion net profit by the third quarter of the current FY. The net profit of the bank has increased by nearly 31 percent compared to corresponding period of the last FY. During the corresponding period of the last FY, the bank earned Rs 2.05 billion net profit. The increase in net profit is attributed to increase in interest income of the bank. The bank has been able to earn Rs 4.08 billion interest income during the period. Similarly, the operating profit of the bank h',
			'content' => '<p style="text-align:justify">May 3: Nabil Bank has earned Rs 2.68 billion net profit by the third quarter of the current FY. The net profit of the bank has increased by nearly 31 percent compared to corresponding period of the last FY. During the corresponding period of the last FY, the bank earned Rs 2.05 billion net profit. The increase in net profit is attributed to increase in interest income of the bank. The bank has been able to earn Rs 4.08 billion interest income during the period. Similarly, the operating profit of the bank has increased by 35 percent to Rs 4.10 billion.</p>

<p style="text-align:justify">By the third quarter of the current FY, the paid-up capital of the bank has increased to Rs 6.18 billion. The paid-up capital has increased by 30 percent compared to the last FY. Similarly, during the review period, the bank has reserve fund of Rs 8.09 billion while its investment amounts to Rs 28.22 billion. The bank has collected Rs 117.05 billion deposit and has extended loan of Rs 90.55 billion. The earning per share (EPS) of the bank is Rs 58.22.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-03',
			'modified' => '2017-05-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5607',
			'image' => '20170503040038_nabil bank.jpg',
			'article_date' => '2017-05-03 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 9 => array(
		'Article' => array(
			'id' => '5821',
			'article_category_id' => '1',
			'title' => 'Qatar Airways Privilege Club Wins Best Rewards Programme in the Middle East, Asia and Oceania Region',
			'sub_title' => '',
			'summary' => 'May 3:  Qatar Airways’ frequent flyer programme, Privilege Club, has been voted the Best Rewards Programme for the Middle East, Asia and Oceania region in the sixth annual FlyerTalk Awards. FlyerTalk is a community of more than half a million businesses and leisure travellers dedicated to finding and sharing elite-level knowledge of air, hotel and car rental programmes.',
			'content' => '<p style="text-align: justify;">May 3: &nbsp;Qatar Airways&rsquo; frequent flyer programme, Privilege Club, has been voted the Best Rewards Programme for the Middle East, Asia and Oceania region in the sixth annual FlyerTalk Awards. FlyerTalk is a community of more than half a million businesses and leisure travellers dedicated to finding and sharing elite-level knowledge of air, hotel and car rental programmes.</p>

<p style="text-align: justify;">Qatar Airways Privilege Club overcame two-time defending champion Cathay Pacific and its frequent flyer programme to earn the number one honour. &ldquo;Qatar Airways Privilege Club is delighted to have received this award, particularly as it was voted for by our discerning members and those from the FlyerTalk community,&quot; said Dr Ian Di Tullio, Vice President, Customer Loyalty and Relationship Management of Qatar Airways. &nbsp;</p>

<p style="text-align: justify;">Qatar Airways Privilege Club has delivered a number of programme improvements over the last year, including the introduction of digital membership cards, enabling members to book award flights via the Qatar Airways App, and allowing last-minute upgrades using Qmiles, said the airlines in a press statement.</p>

<p style="text-align: justify;">&ldquo;Privilege Club members now also have a much wider choice of ways to earn and redeem their Qmiles, with new partnerships in the Middle East and beyond, covering credit cards, car-rentals, and hospitality. This includes an exciting new global relationship with AccorHotels, allowing members to redeem Qmiles for stays in some of the world&rsquo;s leading hotels,&rdquo; reads the statement</p>
',
			'published' => true,
			'created' => '2017-05-03',
			'modified' => '2017-05-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5606',
			'image' => '20170503121432_qatar airways.jpg',
			'article_date' => '2017-05-03 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 10 => array(
		'Article' => array(
			'id' => '5820',
			'article_category_id' => '1',
			'title' => 'Vianet Launches Unlimited Internet Offer',
			'sub_title' => '',
			'summary' => 'May 3: Internet Service Provider, Vianet Communication has launched unlimited internet services to its customers.',
			'content' => '<p style="text-align: justify;">May 3: Internet Service Provider, Vianet Communication has launched unlimited internet services to its customers.</p>

<p style="text-align: justify;">The ISP service provider has brought this kind of offer for the first time. Under the package, customers can enjoy unlimited internet of 6 MBPS and 12 MBPS speed. The customer can use 6 MBPS and 12 MBPS speed internet at Rs 1,330 and Rs 1,710 respectively, informs the company in a press statement.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-03',
			'modified' => '2017-05-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5605',
			'image' => '20170503115518_vianet.jpg',
			'article_date' => '2017-05-03 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 11 => array(
		'Article' => array(
			'id' => '5819',
			'article_category_id' => '1',
			'title' => 'BOK Appoints Nabil Investment as Issue Manager',
			'sub_title' => '',
			'summary' => 'May 3: Bank of Kathmandu (BOK) has appointed Nabil Investment Banking as its issue manager. The both institutions sign a memorandum of understanding regarding the matter on May 2. Ajay Shrestha, CEO of BOK and Prabin Raman Parajuli, CEO of Nabil Investment signed the agreement, said the bank in a press statement.',
			'content' => '<p style="text-align: justify;">May 3: Bank of Kathmandu (BOK) has appointed Nabil Investment Banking as its issue manager. The both institutions sign a memorandum of understanding regarding the matter on May 2. Ajay Shrestha, CEO of BOK and Prabin Raman Parajuli, CEO of Nabil Investment signed the agreement, said the bank in a press statement.</p>

<p style="text-align: justify;">The bank, in a bid to restructure the share holding ratio of promoter and general shareholders to 51:49, is issuing further public offering to the promoter shareholders. On this regard, the bank is floating 6,208,132 units FPO to promoter shareholders. After the appointment, Nabil Investment will be managing the issue. &nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-03',
			'modified' => '2017-05-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5604',
			'image' => '20170503113146_bok.JPG',
			'article_date' => '2017-05-03 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 12 => array(
		'Article' => array(
			'id' => '5818',
			'article_category_id' => '1',
			'title' => 'Sunrise Bank Adds 3 BLB Units',
			'sub_title' => '',
			'summary' => 'May 3: Sunrise Bank has started three branchless banking (BLB) units as per its objective of providing financial services in the areas lacking banking accessibility. The bank started BLB units in Shukrabare Bazar of Illam and Chimadi Bazar and Kalabanjar of Sunsari. The bank handed over point of sale machines to local representatives to carry out the ',
			'content' => '<p style="text-align: justify;">May 3: Sunrise Bank has started three branchless banking (BLB) units as per its objective of providing financial services in the areas lacking banking accessibility. The bank started BLB units in Shukrabare Bazar of Illam and Chimadi Bazar and Kalabanjar of Sunsari. The bank handed over point of sale machines to local representatives to carry out the BLB services. With the additions, the number of BLB units of Sunrise Bank has reached 16.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-03',
			'modified' => '2017-05-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5603',
			'image' => '20170503112015_sunrise bank.jpg',
			'article_date' => '2017-05-03 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 13 => array(
		'Article' => array(
			'id' => '5817',
			'article_category_id' => '1',
			'title' => 'Nepal SBI Bank to Issue 10:4 Right Shares',
			'sub_title' => '',
			'summary' => 'May 3: Nepal SBI Bank is issuing 10:4 right shares. The bank is set to issue the right shares from May 21 to June 25. The bank will be issuing 19,919,423.6 units of right shares with a face value of Rs 100 to its existing shareholders.',
			'content' => '<p style="text-align: justify;">May 3: Nepal SBI Bank is issuing 10:4 right shares. The bank is set to issue the right shares from May 21 to June 25. The bank will be issuing 19,919,423.6 units of right shares with a face value of Rs 100 to its existing shareholders.</p>

<p style="text-align: justify;">The shareholders registered in the bank&rsquo;s share-book by May 9 will be eligible to apply for the right shares. The bank has appointed NMB Capital Ltd as its issue manager. The interested shareholders can apply for the right shares from all the branches of Nepal SBI Bank. Moreover, shareholders can submit their right share application in Nepal SBI Merchant Banking, Hattisar, Kathmandu and NMB Capital Ltd, Naag Pokhari, Kathmandu.</p>

<p style="text-align: justify;">Presently, the bank has paid-up capital of Rs 4.97 billion. After the issuance of the right share, the paid-up capital will reach Rs 6.97 billion.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-03',
			'modified' => '2017-05-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5602',
			'image' => '20170503110904_sbi.jpg',
			'article_date' => '2017-05-03 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 14 => array(
		'Article' => array(
			'id' => '5816',
			'article_category_id' => '1',
			'title' => 'Government Neglecting Insurance of Hydropower Projects',
			'sub_title' => '',
			'summary' => 'May 2: The government has not insured the hydropower projects it has constructed so far. Due to which, the private sector is also being insensitive regarding this issue.',
			'content' => '<p style="text-align: justify;">May 2: The government has not insured the hydropower projects it has constructed so far. Due to which, the private sector is also being insensitive regarding this issue.</p>

<p style="text-align: justify;">However, the hydropower promoters have now realized the need of insurance due to the heavy damages caused by the devastating earthquake two years ago.</p>

<p style="text-align: justify;">The private sector is now attracted towards insurance assuming unexpected damages of tens of millions of rupees caused by natural disasters. But most of the private sector hydropower projects have insured only after generating electricity.</p>

<p style="text-align: justify;">According to Bir Bikram Rayamajhi, CEO of Rastriya Beema Company, there are very few companies which are interested in insurance. &ldquo;It is important to insure at the very time of construction of the project,&rdquo; he said.</p>

<p style="text-align: justify;">While developing hydropower projects, construction phase is regarded as a sensitive stage. Sanjeev Neupane, Managing Director of Api Power Company says there is no clear policy regarding the basis for which insurance can be done. &ldquo;The size, investment and capacity of hydropower projects are different,&rdquo; he said, adding, &ldquo;The implementation will be easy if the policy clearly mentions the insurance amount according to its size.&rdquo;</p>

<p style="text-align: justify;">However, Rayamajhi says that a company can opt for insurance as per its own interest. All kinds of damages can be fulfilled by insurance in hydropower projects, he added.</p>

<p style="text-align: justify;">The Insurance Company has already issued Rs 3.5 million to Chilime Hydropower Project for the damage caused on its administrative building by April 25, 2015 earthquake. Nevertheless, he informed that no other companies have claimed for insurance as yet.</p>

<p style="text-align: justify;">Likewise, Uttar Kumar Shrestha, CEO of Butwal Power Company (BPC) says that the insurance has provisions that damages caused by fire, floods and landslides and earthquakes are fulfilled by insurance companies, but the general understanding is the opposite. He said the promoters only insure projects for formality. He further added, &ldquo;Therefore, there is a need to make people aware about the reality.&rdquo;&nbsp;&nbsp;</p>
',
			'published' => true,
			'created' => '2017-05-02',
			'modified' => '2017-05-02',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5601',
			'image' => '20170502054507_insurance.jpg',
			'article_date' => '2017-05-02 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	)
)
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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