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'content' => '<div style="text-align: justify;">
<span style="font-size: 14px;">The government has collected more than Rs 100 million in taxes from commodities market in the fiscal year 2010/11. Compared to the previous fiscal year, this year’s collection is almost double. The revenue was generated from three commodity future exchanges in operation.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Experts believe that if the revenue from two spot exchanges and brokers is included, the amount can be higher. Within five years of the first commodity exchange coming into operation, five exchanges are trading in the market while at least five are planning to begin operations.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Bijesh Shrestha, President of Commodities Brokers’ Association, said the number of brokers is also increasing with the number of exchanges. “So, tax deduction at source (TDS) and taxes paid by trading brokers, clearing brokers and exchanges are also increasing,†he said.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Shrestha said the revenue mobilisation can go further up as investors are increasing and if the market can be made more transparent with efficient regulation.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Mercantile Exchange has paid Rs 53.8 million as TDS to the government. Similarly, Nepal Derivatives Exchange has paid Rs 41 million in TDS and VAT. Commodities & Metal Exchange Nepal Ltd (COMEN) has paid Rs 1 million as tax to the state.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<h3 style="color: blue;">
<span style="font-size: 14px;">IMF Urges NRB to Have More Teeth</span></h3>
<div style="text-align: justify;">
<span style="font-size: 14px;">International Monitory Forum (IMF) has said that risk in Nepali financial sector is ever growing. IMF gave this conclusion after a two weeks study of the Nepali banking scenario. IMF has also commented that the Nepali economy is passing through a challenging phase.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">John Nelmes, Deputy Division Chief, Asia and Pacific Department of the IMF, in his team’s report has predicted that there is a high risk in financial sector due to high price of real estate. The report says that if the situation persists the economy will face more problems. Dr Sanjaya Panth, IMF’s senior resident representative for Nepal and India, said that weak supervision and excessive increase in the number of banks and financial institutions are contributing to the heightened risk. He said that threats have emerged also due to various other reasons.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">IMF has urged Nepal Rastra Bank (NRB) to exercise more power. IMF has asked the central bank to employ more authority at a time when NRB’s role has been criticised for being too invasive. Panth said more rights and powers must be given to NRB well in time to solve the problems seen in banks and finance companies.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">IMF has also suggested to tighten the lending in a single area like real estate and expanding supervisory power. It has said that there is no option to maintain the fixed exchange rate with the Indian currency.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Panth said that problems arose after financial institutions heavily invested in real estate and the business nosedived lately after increase in price. He said that the price must come down now.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<h3 style="color: blue;">
<span style="font-size: 14px;">Debentures in USD</span></h3>
<div style="text-align: justify;">
<span style="font-size: 14px;">Himal Hydropower Limited is issueing debenture in US dollar denomination. First company in Nepal to do so, the company will issue debentures of US $ 60 million after Nepal Rastra Bank adopted the provision to issue debentures in dollars for hydropower companies through its monetary policy.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Ace Capital is the issue manager for this debenture. The face value of a debenture is US $ 1000. The debenture that will be traded solely through the private sector will also be listed in NEPSE’s over the counter market. The debenture is being issued for five years. Coupon rate of the debenture is six per cent while interests will be paid every six months.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<h3 style="color: blue;">
<span style="font-size: 14px;">BoK Opens Account with ABOC</span></h3>
<div style="text-align: justify;">
<span style="font-size: 14px;">Bank of Kathmandu Ltd is now associated with Agricultural Bank of China Ltd, China, (ABOC) by opening a USD account with aboc’s Lhasa Branch. This account has been opened to serve importers in Nepal who import gods from China through the Tatopani Customs Office. ABOC Lhasa branch has SWIFT connectivity and online system with Zhangmu Sub-Branch (Khasa) through which smooth and quick processing of payments is expected.</span></div>',
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'title' => 'Exchanges Add Rs 100 Millon To State Coffers (september 2011)',
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'content' => '<div style="text-align: justify;">
<span style="font-size: 14px;">The government has collected more than Rs 100 million in taxes from commodities market in the fiscal year 2010/11. Compared to the previous fiscal year, this year’s collection is almost double. The revenue was generated from three commodity future exchanges in operation.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Experts believe that if the revenue from two spot exchanges and brokers is included, the amount can be higher. Within five years of the first commodity exchange coming into operation, five exchanges are trading in the market while at least five are planning to begin operations.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Bijesh Shrestha, President of Commodities Brokers’ Association, said the number of brokers is also increasing with the number of exchanges. “So, tax deduction at source (TDS) and taxes paid by trading brokers, clearing brokers and exchanges are also increasing,†he said.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Shrestha said the revenue mobilisation can go further up as investors are increasing and if the market can be made more transparent with efficient regulation.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Mercantile Exchange has paid Rs 53.8 million as TDS to the government. Similarly, Nepal Derivatives Exchange has paid Rs 41 million in TDS and VAT. Commodities & Metal Exchange Nepal Ltd (COMEN) has paid Rs 1 million as tax to the state.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<h3 style="color: blue;">
<span style="font-size: 14px;">IMF Urges NRB to Have More Teeth</span></h3>
<div style="text-align: justify;">
<span style="font-size: 14px;">International Monitory Forum (IMF) has said that risk in Nepali financial sector is ever growing. IMF gave this conclusion after a two weeks study of the Nepali banking scenario. IMF has also commented that the Nepali economy is passing through a challenging phase.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">John Nelmes, Deputy Division Chief, Asia and Pacific Department of the IMF, in his team’s report has predicted that there is a high risk in financial sector due to high price of real estate. The report says that if the situation persists the economy will face more problems. Dr Sanjaya Panth, IMF’s senior resident representative for Nepal and India, said that weak supervision and excessive increase in the number of banks and financial institutions are contributing to the heightened risk. He said that threats have emerged also due to various other reasons.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">IMF has urged Nepal Rastra Bank (NRB) to exercise more power. IMF has asked the central bank to employ more authority at a time when NRB’s role has been criticised for being too invasive. Panth said more rights and powers must be given to NRB well in time to solve the problems seen in banks and finance companies.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">IMF has also suggested to tighten the lending in a single area like real estate and expanding supervisory power. It has said that there is no option to maintain the fixed exchange rate with the Indian currency.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Panth said that problems arose after financial institutions heavily invested in real estate and the business nosedived lately after increase in price. He said that the price must come down now.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<h3 style="color: blue;">
<span style="font-size: 14px;">Debentures in USD</span></h3>
<div style="text-align: justify;">
<span style="font-size: 14px;">Himal Hydropower Limited is issueing debenture in US dollar denomination. First company in Nepal to do so, the company will issue debentures of US $ 60 million after Nepal Rastra Bank adopted the provision to issue debentures in dollars for hydropower companies through its monetary policy.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Ace Capital is the issue manager for this debenture. The face value of a debenture is US $ 1000. The debenture that will be traded solely through the private sector will also be listed in NEPSE’s over the counter market. The debenture is being issued for five years. Coupon rate of the debenture is six per cent while interests will be paid every six months.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<h3 style="color: blue;">
<span style="font-size: 14px;">BoK Opens Account with ABOC</span></h3>
<div style="text-align: justify;">
<span style="font-size: 14px;">Bank of Kathmandu Ltd is now associated with Agricultural Bank of China Ltd, China, (ABOC) by opening a USD account with aboc’s Lhasa Branch. This account has been opened to serve importers in Nepal who import gods from China through the Tatopani Customs Office. ABOC Lhasa branch has SWIFT connectivity and online system with Zhangmu Sub-Branch (Khasa) through which smooth and quick processing of payments is expected.</span></div>',
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Notice (8): Trying to access array offset on value of type null [APP/View/Articles/view.ctp, line 115]
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'content' => '<div style="text-align: justify;">
<span style="font-size: 14px;">The government has collected more than Rs 100 million in taxes from commodities market in the fiscal year 2010/11. Compared to the previous fiscal year, this year’s collection is almost double. The revenue was generated from three commodity future exchanges in operation.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Experts believe that if the revenue from two spot exchanges and brokers is included, the amount can be higher. Within five years of the first commodity exchange coming into operation, five exchanges are trading in the market while at least five are planning to begin operations.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Bijesh Shrestha, President of Commodities Brokers’ Association, said the number of brokers is also increasing with the number of exchanges. “So, tax deduction at source (TDS) and taxes paid by trading brokers, clearing brokers and exchanges are also increasing,†he said.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Shrestha said the revenue mobilisation can go further up as investors are increasing and if the market can be made more transparent with efficient regulation.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Mercantile Exchange has paid Rs 53.8 million as TDS to the government. Similarly, Nepal Derivatives Exchange has paid Rs 41 million in TDS and VAT. Commodities & Metal Exchange Nepal Ltd (COMEN) has paid Rs 1 million as tax to the state.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<h3 style="color: blue;">
<span style="font-size: 14px;">IMF Urges NRB to Have More Teeth</span></h3>
<div style="text-align: justify;">
<span style="font-size: 14px;">International Monitory Forum (IMF) has said that risk in Nepali financial sector is ever growing. IMF gave this conclusion after a two weeks study of the Nepali banking scenario. IMF has also commented that the Nepali economy is passing through a challenging phase.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">John Nelmes, Deputy Division Chief, Asia and Pacific Department of the IMF, in his team’s report has predicted that there is a high risk in financial sector due to high price of real estate. The report says that if the situation persists the economy will face more problems. Dr Sanjaya Panth, IMF’s senior resident representative for Nepal and India, said that weak supervision and excessive increase in the number of banks and financial institutions are contributing to the heightened risk. He said that threats have emerged also due to various other reasons.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">IMF has urged Nepal Rastra Bank (NRB) to exercise more power. IMF has asked the central bank to employ more authority at a time when NRB’s role has been criticised for being too invasive. Panth said more rights and powers must be given to NRB well in time to solve the problems seen in banks and finance companies.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">IMF has also suggested to tighten the lending in a single area like real estate and expanding supervisory power. It has said that there is no option to maintain the fixed exchange rate with the Indian currency.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Panth said that problems arose after financial institutions heavily invested in real estate and the business nosedived lately after increase in price. He said that the price must come down now.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<h3 style="color: blue;">
<span style="font-size: 14px;">Debentures in USD</span></h3>
<div style="text-align: justify;">
<span style="font-size: 14px;">Himal Hydropower Limited is issueing debenture in US dollar denomination. First company in Nepal to do so, the company will issue debentures of US $ 60 million after Nepal Rastra Bank adopted the provision to issue debentures in dollars for hydropower companies through its monetary policy.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Ace Capital is the issue manager for this debenture. The face value of a debenture is US $ 1000. The debenture that will be traded solely through the private sector will also be listed in NEPSE’s over the counter market. The debenture is being issued for five years. Coupon rate of the debenture is six per cent while interests will be paid every six months.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<h3 style="color: blue;">
<span style="font-size: 14px;">BoK Opens Account with ABOC</span></h3>
<div style="text-align: justify;">
<span style="font-size: 14px;">Bank of Kathmandu Ltd is now associated with Agricultural Bank of China Ltd, China, (ABOC) by opening a USD account with aboc’s Lhasa Branch. This account has been opened to serve importers in Nepal who import gods from China through the Tatopani Customs Office. ABOC Lhasa branch has SWIFT connectivity and online system with Zhangmu Sub-Branch (Khasa) through which smooth and quick processing of payments is expected.</span></div>',
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'title' => 'Exchanges Add Rs 100 Millon To State Coffers (september 2011)',
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'content' => '<div style="text-align: justify;">
<span style="font-size: 14px;">The government has collected more than Rs 100 million in taxes from commodities market in the fiscal year 2010/11. Compared to the previous fiscal year, this year’s collection is almost double. The revenue was generated from three commodity future exchanges in operation.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Experts believe that if the revenue from two spot exchanges and brokers is included, the amount can be higher. Within five years of the first commodity exchange coming into operation, five exchanges are trading in the market while at least five are planning to begin operations.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Bijesh Shrestha, President of Commodities Brokers’ Association, said the number of brokers is also increasing with the number of exchanges. “So, tax deduction at source (TDS) and taxes paid by trading brokers, clearing brokers and exchanges are also increasing,†he said.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Shrestha said the revenue mobilisation can go further up as investors are increasing and if the market can be made more transparent with efficient regulation.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Mercantile Exchange has paid Rs 53.8 million as TDS to the government. Similarly, Nepal Derivatives Exchange has paid Rs 41 million in TDS and VAT. Commodities & Metal Exchange Nepal Ltd (COMEN) has paid Rs 1 million as tax to the state.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<h3 style="color: blue;">
<span style="font-size: 14px;">IMF Urges NRB to Have More Teeth</span></h3>
<div style="text-align: justify;">
<span style="font-size: 14px;">International Monitory Forum (IMF) has said that risk in Nepali financial sector is ever growing. IMF gave this conclusion after a two weeks study of the Nepali banking scenario. IMF has also commented that the Nepali economy is passing through a challenging phase.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">John Nelmes, Deputy Division Chief, Asia and Pacific Department of the IMF, in his team’s report has predicted that there is a high risk in financial sector due to high price of real estate. The report says that if the situation persists the economy will face more problems. Dr Sanjaya Panth, IMF’s senior resident representative for Nepal and India, said that weak supervision and excessive increase in the number of banks and financial institutions are contributing to the heightened risk. He said that threats have emerged also due to various other reasons.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">IMF has urged Nepal Rastra Bank (NRB) to exercise more power. IMF has asked the central bank to employ more authority at a time when NRB’s role has been criticised for being too invasive. Panth said more rights and powers must be given to NRB well in time to solve the problems seen in banks and finance companies.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">IMF has also suggested to tighten the lending in a single area like real estate and expanding supervisory power. It has said that there is no option to maintain the fixed exchange rate with the Indian currency.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Panth said that problems arose after financial institutions heavily invested in real estate and the business nosedived lately after increase in price. He said that the price must come down now.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<h3 style="color: blue;">
<span style="font-size: 14px;">Debentures in USD</span></h3>
<div style="text-align: justify;">
<span style="font-size: 14px;">Himal Hydropower Limited is issueing debenture in US dollar denomination. First company in Nepal to do so, the company will issue debentures of US $ 60 million after Nepal Rastra Bank adopted the provision to issue debentures in dollars for hydropower companies through its monetary policy.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Ace Capital is the issue manager for this debenture. The face value of a debenture is US $ 1000. The debenture that will be traded solely through the private sector will also be listed in NEPSE’s over the counter market. The debenture is being issued for five years. Coupon rate of the debenture is six per cent while interests will be paid every six months.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<h3 style="color: blue;">
<span style="font-size: 14px;">BoK Opens Account with ABOC</span></h3>
<div style="text-align: justify;">
<span style="font-size: 14px;">Bank of Kathmandu Ltd is now associated with Agricultural Bank of China Ltd, China, (ABOC) by opening a USD account with aboc’s Lhasa Branch. This account has been opened to serve importers in Nepal who import gods from China through the Tatopani Customs Office. ABOC Lhasa branch has SWIFT connectivity and online system with Zhangmu Sub-Branch (Khasa) through which smooth and quick processing of payments is expected.</span></div>',
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'content' => '<div style="text-align: justify;">
<span style="font-size: 14px;">The government has collected more than Rs 100 million in taxes from commodities market in the fiscal year 2010/11. Compared to the previous fiscal year, this year’s collection is almost double. The revenue was generated from three commodity future exchanges in operation.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Experts believe that if the revenue from two spot exchanges and brokers is included, the amount can be higher. Within five years of the first commodity exchange coming into operation, five exchanges are trading in the market while at least five are planning to begin operations.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Bijesh Shrestha, President of Commodities Brokers’ Association, said the number of brokers is also increasing with the number of exchanges. “So, tax deduction at source (TDS) and taxes paid by trading brokers, clearing brokers and exchanges are also increasing,†he said.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Shrestha said the revenue mobilisation can go further up as investors are increasing and if the market can be made more transparent with efficient regulation.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Mercantile Exchange has paid Rs 53.8 million as TDS to the government. Similarly, Nepal Derivatives Exchange has paid Rs 41 million in TDS and VAT. Commodities & Metal Exchange Nepal Ltd (COMEN) has paid Rs 1 million as tax to the state.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<h3 style="color: blue;">
<span style="font-size: 14px;">IMF Urges NRB to Have More Teeth</span></h3>
<div style="text-align: justify;">
<span style="font-size: 14px;">International Monitory Forum (IMF) has said that risk in Nepali financial sector is ever growing. IMF gave this conclusion after a two weeks study of the Nepali banking scenario. IMF has also commented that the Nepali economy is passing through a challenging phase.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">John Nelmes, Deputy Division Chief, Asia and Pacific Department of the IMF, in his team’s report has predicted that there is a high risk in financial sector due to high price of real estate. The report says that if the situation persists the economy will face more problems. Dr Sanjaya Panth, IMF’s senior resident representative for Nepal and India, said that weak supervision and excessive increase in the number of banks and financial institutions are contributing to the heightened risk. He said that threats have emerged also due to various other reasons.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">IMF has urged Nepal Rastra Bank (NRB) to exercise more power. IMF has asked the central bank to employ more authority at a time when NRB’s role has been criticised for being too invasive. Panth said more rights and powers must be given to NRB well in time to solve the problems seen in banks and finance companies.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">IMF has also suggested to tighten the lending in a single area like real estate and expanding supervisory power. It has said that there is no option to maintain the fixed exchange rate with the Indian currency.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Panth said that problems arose after financial institutions heavily invested in real estate and the business nosedived lately after increase in price. He said that the price must come down now.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<h3 style="color: blue;">
<span style="font-size: 14px;">Debentures in USD</span></h3>
<div style="text-align: justify;">
<span style="font-size: 14px;">Himal Hydropower Limited is issueing debenture in US dollar denomination. First company in Nepal to do so, the company will issue debentures of US $ 60 million after Nepal Rastra Bank adopted the provision to issue debentures in dollars for hydropower companies through its monetary policy.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Ace Capital is the issue manager for this debenture. The face value of a debenture is US $ 1000. The debenture that will be traded solely through the private sector will also be listed in NEPSE’s over the counter market. The debenture is being issued for five years. Coupon rate of the debenture is six per cent while interests will be paid every six months.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<h3 style="color: blue;">
<span style="font-size: 14px;">BoK Opens Account with ABOC</span></h3>
<div style="text-align: justify;">
<span style="font-size: 14px;">Bank of Kathmandu Ltd is now associated with Agricultural Bank of China Ltd, China, (ABOC) by opening a USD account with aboc’s Lhasa Branch. This account has been opened to serve importers in Nepal who import gods from China through the Tatopani Customs Office. ABOC Lhasa branch has SWIFT connectivity and online system with Zhangmu Sub-Branch (Khasa) through which smooth and quick processing of payments is expected.</span></div>',
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<span style="font-size: 14px;">The government has collected more than Rs 100 million in taxes from commodities market in the fiscal year 2010/11. Compared to the previous fiscal year, this year’s collection is almost double. The revenue was generated from three commodity future exchanges in operation.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Experts believe that if the revenue from two spot exchanges and brokers is included, the amount can be higher. Within five years of the first commodity exchange coming into operation, five exchanges are trading in the market while at least five are planning to begin operations.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Bijesh Shrestha, President of Commodities Brokers’ Association, said the number of brokers is also increasing with the number of exchanges. “So, tax deduction at source (TDS) and taxes paid by trading brokers, clearing brokers and exchanges are also increasing,†he said.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Shrestha said the revenue mobilisation can go further up as investors are increasing and if the market can be made more transparent with efficient regulation.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Mercantile Exchange has paid Rs 53.8 million as TDS to the government. Similarly, Nepal Derivatives Exchange has paid Rs 41 million in TDS and VAT. Commodities & Metal Exchange Nepal Ltd (COMEN) has paid Rs 1 million as tax to the state.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<h3 style="color: blue;">
<span style="font-size: 14px;">IMF Urges NRB to Have More Teeth</span></h3>
<div style="text-align: justify;">
<span style="font-size: 14px;">International Monitory Forum (IMF) has said that risk in Nepali financial sector is ever growing. IMF gave this conclusion after a two weeks study of the Nepali banking scenario. IMF has also commented that the Nepali economy is passing through a challenging phase.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">John Nelmes, Deputy Division Chief, Asia and Pacific Department of the IMF, in his team’s report has predicted that there is a high risk in financial sector due to high price of real estate. The report says that if the situation persists the economy will face more problems. Dr Sanjaya Panth, IMF’s senior resident representative for Nepal and India, said that weak supervision and excessive increase in the number of banks and financial institutions are contributing to the heightened risk. He said that threats have emerged also due to various other reasons.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">IMF has urged Nepal Rastra Bank (NRB) to exercise more power. IMF has asked the central bank to employ more authority at a time when NRB’s role has been criticised for being too invasive. Panth said more rights and powers must be given to NRB well in time to solve the problems seen in banks and finance companies.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">IMF has also suggested to tighten the lending in a single area like real estate and expanding supervisory power. It has said that there is no option to maintain the fixed exchange rate with the Indian currency.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Panth said that problems arose after financial institutions heavily invested in real estate and the business nosedived lately after increase in price. He said that the price must come down now.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<h3 style="color: blue;">
<span style="font-size: 14px;">Debentures in USD</span></h3>
<div style="text-align: justify;">
<span style="font-size: 14px;">Himal Hydropower Limited is issueing debenture in US dollar denomination. First company in Nepal to do so, the company will issue debentures of US $ 60 million after Nepal Rastra Bank adopted the provision to issue debentures in dollars for hydropower companies through its monetary policy.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Ace Capital is the issue manager for this debenture. The face value of a debenture is US $ 1000. The debenture that will be traded solely through the private sector will also be listed in NEPSE’s over the counter market. The debenture is being issued for five years. Coupon rate of the debenture is six per cent while interests will be paid every six months.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<h3 style="color: blue;">
<span style="font-size: 14px;">BoK Opens Account with ABOC</span></h3>
<div style="text-align: justify;">
<span style="font-size: 14px;">Bank of Kathmandu Ltd is now associated with Agricultural Bank of China Ltd, China, (ABOC) by opening a USD account with aboc’s Lhasa Branch. This account has been opened to serve importers in Nepal who import gods from China through the Tatopani Customs Office. ABOC Lhasa branch has SWIFT connectivity and online system with Zhangmu Sub-Branch (Khasa) through which smooth and quick processing of payments is expected.</span></div>',
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Exchanges Add Rs 100 Millon To State Coffers (september 2011)
4 min 43 sec to read
The government has collected more than Rs 100 million in taxes from commodities market in the fiscal year 2010/11. Compared to the previous fiscal year, this year’s collection is almost double. The revenue was generated from three commodity future exchanges in operation.
Experts believe that if the revenue from two spot exchanges and brokers is included, the amount can be higher. Within five years of the first commodity exchange coming into operation, five exchanges are trading in the market while at least five are planning to begin operations.
Bijesh Shrestha, President of Commodities Brokers’ Association, said the number of brokers is also increasing with the number of exchanges. “So, tax deduction at source (TDS) and taxes paid by trading brokers, clearing brokers and exchanges are also increasing,†he said.
Shrestha said the revenue mobilisation can go further up as investors are increasing and if the market can be made more transparent with efficient regulation.
Mercantile Exchange has paid Rs 53.8 million as TDS to the government. Similarly, Nepal Derivatives Exchange has paid Rs 41 million in TDS and VAT. Commodities & Metal Exchange Nepal Ltd (COMEN) has paid Rs 1 million as tax to the state.
IMF Urges NRB to Have More Teeth
International Monitory Forum (IMF) has said that risk in Nepali financial sector is ever growing. IMF gave this conclusion after a two weeks study of the Nepali banking scenario. IMF has also commented that the Nepali economy is passing through a challenging phase.
John Nelmes, Deputy Division Chief, Asia and Pacific Department of the IMF, in his team’s report has predicted that there is a high risk in financial sector due to high price of real estate. The report says that if the situation persists the economy will face more problems. Dr Sanjaya Panth, IMF’s senior resident representative for Nepal and India, said that weak supervision and excessive increase in the number of banks and financial institutions are contributing to the heightened risk. He said that threats have emerged also due to various other reasons.
IMF has urged Nepal Rastra Bank (NRB) to exercise more power. IMF has asked the central bank to employ more authority at a time when NRB’s role has been criticised for being too invasive. Panth said more rights and powers must be given to NRB well in time to solve the problems seen in banks and finance companies.
IMF has also suggested to tighten the lending in a single area like real estate and expanding supervisory power. It has said that there is no option to maintain the fixed exchange rate with the Indian currency.
Panth said that problems arose after financial institutions heavily invested in real estate and the business nosedived lately after increase in price. He said that the price must come down now.
Debentures in USD
Himal Hydropower Limited is issueing debenture in US dollar denomination. First company in Nepal to do so, the company will issue debentures of US $ 60 million after Nepal Rastra Bank adopted the provision to issue debentures in dollars for hydropower companies through its monetary policy.
Ace Capital is the issue manager for this debenture. The face value of a debenture is US $ 1000. The debenture that will be traded solely through the private sector will also be listed in NEPSE’s over the counter market. The debenture is being issued for five years. Coupon rate of the debenture is six per cent while interests will be paid every six months.
BoK Opens Account with ABOC
Bank of Kathmandu Ltd is now associated with Agricultural Bank of China Ltd, China, (ABOC) by opening a USD account with aboc’s Lhasa Branch. This account has been opened to serve importers in Nepal who import gods from China through the Tatopani Customs Office. ABOC Lhasa branch has SWIFT connectivity and online system with Zhangmu Sub-Branch (Khasa) through which smooth and quick processing of payments is expected.
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'title' => 'Exchanges Add Rs 100 Millon To State Coffers (september 2011)',
'sub_title' => '',
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'content' => '<div style="text-align: justify;">
<span style="font-size: 14px;">The government has collected more than Rs 100 million in taxes from commodities market in the fiscal year 2010/11. Compared to the previous fiscal year, this year’s collection is almost double. The revenue was generated from three commodity future exchanges in operation.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Experts believe that if the revenue from two spot exchanges and brokers is included, the amount can be higher. Within five years of the first commodity exchange coming into operation, five exchanges are trading in the market while at least five are planning to begin operations.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Bijesh Shrestha, President of Commodities Brokers’ Association, said the number of brokers is also increasing with the number of exchanges. “So, tax deduction at source (TDS) and taxes paid by trading brokers, clearing brokers and exchanges are also increasing,†he said.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Shrestha said the revenue mobilisation can go further up as investors are increasing and if the market can be made more transparent with efficient regulation.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Mercantile Exchange has paid Rs 53.8 million as TDS to the government. Similarly, Nepal Derivatives Exchange has paid Rs 41 million in TDS and VAT. Commodities & Metal Exchange Nepal Ltd (COMEN) has paid Rs 1 million as tax to the state.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<h3 style="color: blue;">
<span style="font-size: 14px;">IMF Urges NRB to Have More Teeth</span></h3>
<div style="text-align: justify;">
<span style="font-size: 14px;">International Monitory Forum (IMF) has said that risk in Nepali financial sector is ever growing. IMF gave this conclusion after a two weeks study of the Nepali banking scenario. IMF has also commented that the Nepali economy is passing through a challenging phase.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">John Nelmes, Deputy Division Chief, Asia and Pacific Department of the IMF, in his team’s report has predicted that there is a high risk in financial sector due to high price of real estate. The report says that if the situation persists the economy will face more problems. Dr Sanjaya Panth, IMF’s senior resident representative for Nepal and India, said that weak supervision and excessive increase in the number of banks and financial institutions are contributing to the heightened risk. He said that threats have emerged also due to various other reasons.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">IMF has urged Nepal Rastra Bank (NRB) to exercise more power. IMF has asked the central bank to employ more authority at a time when NRB’s role has been criticised for being too invasive. Panth said more rights and powers must be given to NRB well in time to solve the problems seen in banks and finance companies.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">IMF has also suggested to tighten the lending in a single area like real estate and expanding supervisory power. It has said that there is no option to maintain the fixed exchange rate with the Indian currency.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Panth said that problems arose after financial institutions heavily invested in real estate and the business nosedived lately after increase in price. He said that the price must come down now.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<h3 style="color: blue;">
<span style="font-size: 14px;">Debentures in USD</span></h3>
<div style="text-align: justify;">
<span style="font-size: 14px;">Himal Hydropower Limited is issueing debenture in US dollar denomination. First company in Nepal to do so, the company will issue debentures of US $ 60 million after Nepal Rastra Bank adopted the provision to issue debentures in dollars for hydropower companies through its monetary policy.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Ace Capital is the issue manager for this debenture. The face value of a debenture is US $ 1000. The debenture that will be traded solely through the private sector will also be listed in NEPSE’s over the counter market. The debenture is being issued for five years. Coupon rate of the debenture is six per cent while interests will be paid every six months.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<h3 style="color: blue;">
<span style="font-size: 14px;">BoK Opens Account with ABOC</span></h3>
<div style="text-align: justify;">
<span style="font-size: 14px;">Bank of Kathmandu Ltd is now associated with Agricultural Bank of China Ltd, China, (ABOC) by opening a USD account with aboc’s Lhasa Branch. This account has been opened to serve importers in Nepal who import gods from China through the Tatopani Customs Office. ABOC Lhasa branch has SWIFT connectivity and online system with Zhangmu Sub-Branch (Khasa) through which smooth and quick processing of payments is expected.</span></div>',
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'title' => 'Exchanges Add Rs 100 Millon To State Coffers (september 2011)',
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'summary' => null,
'content' => '<div style="text-align: justify;">
<span style="font-size: 14px;">The government has collected more than Rs 100 million in taxes from commodities market in the fiscal year 2010/11. Compared to the previous fiscal year, this year’s collection is almost double. The revenue was generated from three commodity future exchanges in operation.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Experts believe that if the revenue from two spot exchanges and brokers is included, the amount can be higher. Within five years of the first commodity exchange coming into operation, five exchanges are trading in the market while at least five are planning to begin operations.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Bijesh Shrestha, President of Commodities Brokers’ Association, said the number of brokers is also increasing with the number of exchanges. “So, tax deduction at source (TDS) and taxes paid by trading brokers, clearing brokers and exchanges are also increasing,†he said.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Shrestha said the revenue mobilisation can go further up as investors are increasing and if the market can be made more transparent with efficient regulation.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Mercantile Exchange has paid Rs 53.8 million as TDS to the government. Similarly, Nepal Derivatives Exchange has paid Rs 41 million in TDS and VAT. Commodities & Metal Exchange Nepal Ltd (COMEN) has paid Rs 1 million as tax to the state.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<h3 style="color: blue;">
<span style="font-size: 14px;">IMF Urges NRB to Have More Teeth</span></h3>
<div style="text-align: justify;">
<span style="font-size: 14px;">International Monitory Forum (IMF) has said that risk in Nepali financial sector is ever growing. IMF gave this conclusion after a two weeks study of the Nepali banking scenario. IMF has also commented that the Nepali economy is passing through a challenging phase.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">John Nelmes, Deputy Division Chief, Asia and Pacific Department of the IMF, in his team’s report has predicted that there is a high risk in financial sector due to high price of real estate. The report says that if the situation persists the economy will face more problems. Dr Sanjaya Panth, IMF’s senior resident representative for Nepal and India, said that weak supervision and excessive increase in the number of banks and financial institutions are contributing to the heightened risk. He said that threats have emerged also due to various other reasons.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">IMF has urged Nepal Rastra Bank (NRB) to exercise more power. IMF has asked the central bank to employ more authority at a time when NRB’s role has been criticised for being too invasive. Panth said more rights and powers must be given to NRB well in time to solve the problems seen in banks and finance companies.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">IMF has also suggested to tighten the lending in a single area like real estate and expanding supervisory power. It has said that there is no option to maintain the fixed exchange rate with the Indian currency.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Panth said that problems arose after financial institutions heavily invested in real estate and the business nosedived lately after increase in price. He said that the price must come down now.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<h3 style="color: blue;">
<span style="font-size: 14px;">Debentures in USD</span></h3>
<div style="text-align: justify;">
<span style="font-size: 14px;">Himal Hydropower Limited is issueing debenture in US dollar denomination. First company in Nepal to do so, the company will issue debentures of US $ 60 million after Nepal Rastra Bank adopted the provision to issue debentures in dollars for hydropower companies through its monetary policy.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Ace Capital is the issue manager for this debenture. The face value of a debenture is US $ 1000. The debenture that will be traded solely through the private sector will also be listed in NEPSE’s over the counter market. The debenture is being issued for five years. Coupon rate of the debenture is six per cent while interests will be paid every six months.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<h3 style="color: blue;">
<span style="font-size: 14px;">BoK Opens Account with ABOC</span></h3>
<div style="text-align: justify;">
<span style="font-size: 14px;">Bank of Kathmandu Ltd is now associated with Agricultural Bank of China Ltd, China, (ABOC) by opening a USD account with aboc’s Lhasa Branch. This account has been opened to serve importers in Nepal who import gods from China through the Tatopani Customs Office. ABOC Lhasa branch has SWIFT connectivity and online system with Zhangmu Sub-Branch (Khasa) through which smooth and quick processing of payments is expected.</span></div>',
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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/view.ctp, line 391
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
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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 "" [APP/View/Elements/side_bar.ctp, line 60]
$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp'
$dataForView = array(
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'title' => 'Exchanges Add Rs 100 Millon To State Coffers (september 2011)',
'sub_title' => '',
'summary' => null,
'content' => '<div style="text-align: justify;">
<span style="font-size: 14px;">The government has collected more than Rs 100 million in taxes from commodities market in the fiscal year 2010/11. Compared to the previous fiscal year, this year’s collection is almost double. The revenue was generated from three commodity future exchanges in operation.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Experts believe that if the revenue from two spot exchanges and brokers is included, the amount can be higher. Within five years of the first commodity exchange coming into operation, five exchanges are trading in the market while at least five are planning to begin operations.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Bijesh Shrestha, President of Commodities Brokers’ Association, said the number of brokers is also increasing with the number of exchanges. “So, tax deduction at source (TDS) and taxes paid by trading brokers, clearing brokers and exchanges are also increasing,†he said.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Shrestha said the revenue mobilisation can go further up as investors are increasing and if the market can be made more transparent with efficient regulation.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Mercantile Exchange has paid Rs 53.8 million as TDS to the government. Similarly, Nepal Derivatives Exchange has paid Rs 41 million in TDS and VAT. Commodities & Metal Exchange Nepal Ltd (COMEN) has paid Rs 1 million as tax to the state.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<h3 style="color: blue;">
<span style="font-size: 14px;">IMF Urges NRB to Have More Teeth</span></h3>
<div style="text-align: justify;">
<span style="font-size: 14px;">International Monitory Forum (IMF) has said that risk in Nepali financial sector is ever growing. IMF gave this conclusion after a two weeks study of the Nepali banking scenario. IMF has also commented that the Nepali economy is passing through a challenging phase.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">John Nelmes, Deputy Division Chief, Asia and Pacific Department of the IMF, in his team’s report has predicted that there is a high risk in financial sector due to high price of real estate. The report says that if the situation persists the economy will face more problems. Dr Sanjaya Panth, IMF’s senior resident representative for Nepal and India, said that weak supervision and excessive increase in the number of banks and financial institutions are contributing to the heightened risk. He said that threats have emerged also due to various other reasons.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">IMF has urged Nepal Rastra Bank (NRB) to exercise more power. IMF has asked the central bank to employ more authority at a time when NRB’s role has been criticised for being too invasive. Panth said more rights and powers must be given to NRB well in time to solve the problems seen in banks and finance companies.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">IMF has also suggested to tighten the lending in a single area like real estate and expanding supervisory power. It has said that there is no option to maintain the fixed exchange rate with the Indian currency.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Panth said that problems arose after financial institutions heavily invested in real estate and the business nosedived lately after increase in price. He said that the price must come down now.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<h3 style="color: blue;">
<span style="font-size: 14px;">Debentures in USD</span></h3>
<div style="text-align: justify;">
<span style="font-size: 14px;">Himal Hydropower Limited is issueing debenture in US dollar denomination. First company in Nepal to do so, the company will issue debentures of US $ 60 million after Nepal Rastra Bank adopted the provision to issue debentures in dollars for hydropower companies through its monetary policy.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Ace Capital is the issue manager for this debenture. The face value of a debenture is US $ 1000. The debenture that will be traded solely through the private sector will also be listed in NEPSE’s over the counter market. The debenture is being issued for five years. Coupon rate of the debenture is six per cent while interests will be paid every six months.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<h3 style="color: blue;">
<span style="font-size: 14px;">BoK Opens Account with ABOC</span></h3>
<div style="text-align: justify;">
<span style="font-size: 14px;">Bank of Kathmandu Ltd is now associated with Agricultural Bank of China Ltd, China, (ABOC) by opening a USD account with aboc’s Lhasa Branch. This account has been opened to serve importers in Nepal who import gods from China through the Tatopani Customs Office. ABOC Lhasa branch has SWIFT connectivity and online system with Zhangmu Sub-Branch (Khasa) through which smooth and quick processing of payments is expected.</span></div>',
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'title' => 'Exchanges Add Rs 100 Millon To State Coffers (september 2011)',
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'summary' => null,
'content' => '<div style="text-align: justify;">
<span style="font-size: 14px;">The government has collected more than Rs 100 million in taxes from commodities market in the fiscal year 2010/11. Compared to the previous fiscal year, this year’s collection is almost double. The revenue was generated from three commodity future exchanges in operation.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Experts believe that if the revenue from two spot exchanges and brokers is included, the amount can be higher. Within five years of the first commodity exchange coming into operation, five exchanges are trading in the market while at least five are planning to begin operations.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Bijesh Shrestha, President of Commodities Brokers’ Association, said the number of brokers is also increasing with the number of exchanges. “So, tax deduction at source (TDS) and taxes paid by trading brokers, clearing brokers and exchanges are also increasing,†he said.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Shrestha said the revenue mobilisation can go further up as investors are increasing and if the market can be made more transparent with efficient regulation.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Mercantile Exchange has paid Rs 53.8 million as TDS to the government. Similarly, Nepal Derivatives Exchange has paid Rs 41 million in TDS and VAT. Commodities & Metal Exchange Nepal Ltd (COMEN) has paid Rs 1 million as tax to the state.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<h3 style="color: blue;">
<span style="font-size: 14px;">IMF Urges NRB to Have More Teeth</span></h3>
<div style="text-align: justify;">
<span style="font-size: 14px;">International Monitory Forum (IMF) has said that risk in Nepali financial sector is ever growing. IMF gave this conclusion after a two weeks study of the Nepali banking scenario. IMF has also commented that the Nepali economy is passing through a challenging phase.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">John Nelmes, Deputy Division Chief, Asia and Pacific Department of the IMF, in his team’s report has predicted that there is a high risk in financial sector due to high price of real estate. The report says that if the situation persists the economy will face more problems. Dr Sanjaya Panth, IMF’s senior resident representative for Nepal and India, said that weak supervision and excessive increase in the number of banks and financial institutions are contributing to the heightened risk. He said that threats have emerged also due to various other reasons.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">IMF has urged Nepal Rastra Bank (NRB) to exercise more power. IMF has asked the central bank to employ more authority at a time when NRB’s role has been criticised for being too invasive. Panth said more rights and powers must be given to NRB well in time to solve the problems seen in banks and finance companies.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">IMF has also suggested to tighten the lending in a single area like real estate and expanding supervisory power. It has said that there is no option to maintain the fixed exchange rate with the Indian currency.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Panth said that problems arose after financial institutions heavily invested in real estate and the business nosedived lately after increase in price. He said that the price must come down now.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<h3 style="color: blue;">
<span style="font-size: 14px;">Debentures in USD</span></h3>
<div style="text-align: justify;">
<span style="font-size: 14px;">Himal Hydropower Limited is issueing debenture in US dollar denomination. First company in Nepal to do so, the company will issue debentures of US $ 60 million after Nepal Rastra Bank adopted the provision to issue debentures in dollars for hydropower companies through its monetary policy.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Ace Capital is the issue manager for this debenture. The face value of a debenture is US $ 1000. The debenture that will be traded solely through the private sector will also be listed in NEPSE’s over the counter market. The debenture is being issued for five years. Coupon rate of the debenture is six per cent while interests will be paid every six months.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<h3 style="color: blue;">
<span style="font-size: 14px;">BoK Opens Account with ABOC</span></h3>
<div style="text-align: justify;">
<span style="font-size: 14px;">Bank of Kathmandu Ltd is now associated with Agricultural Bank of China Ltd, China, (ABOC) by opening a USD account with aboc’s Lhasa Branch. This account has been opened to serve importers in Nepal who import gods from China through the Tatopani Customs Office. ABOC Lhasa branch has SWIFT connectivity and online system with Zhangmu Sub-Branch (Khasa) through which smooth and quick processing of payments is expected.</span></div>',
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file not found!
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<span style="font-size: 14px;">The government has collected more than Rs 100 million in taxes from commodities market in the fiscal year 2010/11. Compared to the previous fiscal year, this year’s collection is almost double. The revenue was generated from three commodity future exchanges in operation.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Experts believe that if the revenue from two spot exchanges and brokers is included, the amount can be higher. Within five years of the first commodity exchange coming into operation, five exchanges are trading in the market while at least five are planning to begin operations.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Bijesh Shrestha, President of Commodities Brokers’ Association, said the number of brokers is also increasing with the number of exchanges. “So, tax deduction at source (TDS) and taxes paid by trading brokers, clearing brokers and exchanges are also increasing,†he said.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Shrestha said the revenue mobilisation can go further up as investors are increasing and if the market can be made more transparent with efficient regulation.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Mercantile Exchange has paid Rs 53.8 million as TDS to the government. Similarly, Nepal Derivatives Exchange has paid Rs 41 million in TDS and VAT. Commodities & Metal Exchange Nepal Ltd (COMEN) has paid Rs 1 million as tax to the state.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<h3 style="color: blue;">
<span style="font-size: 14px;">IMF Urges NRB to Have More Teeth</span></h3>
<div style="text-align: justify;">
<span style="font-size: 14px;">International Monitory Forum (IMF) has said that risk in Nepali financial sector is ever growing. IMF gave this conclusion after a two weeks study of the Nepali banking scenario. IMF has also commented that the Nepali economy is passing through a challenging phase.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">John Nelmes, Deputy Division Chief, Asia and Pacific Department of the IMF, in his team’s report has predicted that there is a high risk in financial sector due to high price of real estate. The report says that if the situation persists the economy will face more problems. Dr Sanjaya Panth, IMF’s senior resident representative for Nepal and India, said that weak supervision and excessive increase in the number of banks and financial institutions are contributing to the heightened risk. He said that threats have emerged also due to various other reasons.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">IMF has urged Nepal Rastra Bank (NRB) to exercise more power. IMF has asked the central bank to employ more authority at a time when NRB’s role has been criticised for being too invasive. Panth said more rights and powers must be given to NRB well in time to solve the problems seen in banks and finance companies.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">IMF has also suggested to tighten the lending in a single area like real estate and expanding supervisory power. It has said that there is no option to maintain the fixed exchange rate with the Indian currency.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Panth said that problems arose after financial institutions heavily invested in real estate and the business nosedived lately after increase in price. He said that the price must come down now.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<h3 style="color: blue;">
<span style="font-size: 14px;">Debentures in USD</span></h3>
<div style="text-align: justify;">
<span style="font-size: 14px;">Himal Hydropower Limited is issueing debenture in US dollar denomination. First company in Nepal to do so, the company will issue debentures of US $ 60 million after Nepal Rastra Bank adopted the provision to issue debentures in dollars for hydropower companies through its monetary policy.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Ace Capital is the issue manager for this debenture. The face value of a debenture is US $ 1000. The debenture that will be traded solely through the private sector will also be listed in NEPSE’s over the counter market. The debenture is being issued for five years. Coupon rate of the debenture is six per cent while interests will be paid every six months.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<h3 style="color: blue;">
<span style="font-size: 14px;">BoK Opens Account with ABOC</span></h3>
<div style="text-align: justify;">
<span style="font-size: 14px;">Bank of Kathmandu Ltd is now associated with Agricultural Bank of China Ltd, China, (ABOC) by opening a USD account with aboc’s Lhasa Branch. This account has been opened to serve importers in Nepal who import gods from China through the Tatopani Customs Office. ABOC Lhasa branch has SWIFT connectivity and online system with Zhangmu Sub-Branch (Khasa) through which smooth and quick processing of payments is expected.</span></div>',
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<span style="font-size: 14px;">The government has collected more than Rs 100 million in taxes from commodities market in the fiscal year 2010/11. Compared to the previous fiscal year, this year’s collection is almost double. The revenue was generated from three commodity future exchanges in operation.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Experts believe that if the revenue from two spot exchanges and brokers is included, the amount can be higher. Within five years of the first commodity exchange coming into operation, five exchanges are trading in the market while at least five are planning to begin operations.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Bijesh Shrestha, President of Commodities Brokers’ Association, said the number of brokers is also increasing with the number of exchanges. “So, tax deduction at source (TDS) and taxes paid by trading brokers, clearing brokers and exchanges are also increasing,†he said.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Shrestha said the revenue mobilisation can go further up as investors are increasing and if the market can be made more transparent with efficient regulation.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Mercantile Exchange has paid Rs 53.8 million as TDS to the government. Similarly, Nepal Derivatives Exchange has paid Rs 41 million in TDS and VAT. Commodities & Metal Exchange Nepal Ltd (COMEN) has paid Rs 1 million as tax to the state.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<h3 style="color: blue;">
<span style="font-size: 14px;">IMF Urges NRB to Have More Teeth</span></h3>
<div style="text-align: justify;">
<span style="font-size: 14px;">International Monitory Forum (IMF) has said that risk in Nepali financial sector is ever growing. IMF gave this conclusion after a two weeks study of the Nepali banking scenario. IMF has also commented that the Nepali economy is passing through a challenging phase.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">John Nelmes, Deputy Division Chief, Asia and Pacific Department of the IMF, in his team’s report has predicted that there is a high risk in financial sector due to high price of real estate. The report says that if the situation persists the economy will face more problems. Dr Sanjaya Panth, IMF’s senior resident representative for Nepal and India, said that weak supervision and excessive increase in the number of banks and financial institutions are contributing to the heightened risk. He said that threats have emerged also due to various other reasons.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">IMF has urged Nepal Rastra Bank (NRB) to exercise more power. IMF has asked the central bank to employ more authority at a time when NRB’s role has been criticised for being too invasive. Panth said more rights and powers must be given to NRB well in time to solve the problems seen in banks and finance companies.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">IMF has also suggested to tighten the lending in a single area like real estate and expanding supervisory power. It has said that there is no option to maintain the fixed exchange rate with the Indian currency.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Panth said that problems arose after financial institutions heavily invested in real estate and the business nosedived lately after increase in price. He said that the price must come down now.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<h3 style="color: blue;">
<span style="font-size: 14px;">Debentures in USD</span></h3>
<div style="text-align: justify;">
<span style="font-size: 14px;">Himal Hydropower Limited is issueing debenture in US dollar denomination. First company in Nepal to do so, the company will issue debentures of US $ 60 million after Nepal Rastra Bank adopted the provision to issue debentures in dollars for hydropower companies through its monetary policy.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Ace Capital is the issue manager for this debenture. The face value of a debenture is US $ 1000. The debenture that will be traded solely through the private sector will also be listed in NEPSE’s over the counter market. The debenture is being issued for five years. Coupon rate of the debenture is six per cent while interests will be paid every six months.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<h3 style="color: blue;">
<span style="font-size: 14px;">BoK Opens Account with ABOC</span></h3>
<div style="text-align: justify;">
<span style="font-size: 14px;">Bank of Kathmandu Ltd is now associated with Agricultural Bank of China Ltd, China, (ABOC) by opening a USD account with aboc’s Lhasa Branch. This account has been opened to serve importers in Nepal who import gods from China through the Tatopani Customs Office. ABOC Lhasa branch has SWIFT connectivity and online system with Zhangmu Sub-Branch (Khasa) through which smooth and quick processing of payments is expected.</span></div>',
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include - APP/View/Elements/side_bar.ctp, line 133
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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 "" [APP/View/Elements/side_bar.ctp, line 133]
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'content' => '<div style="text-align: justify;">
<span style="font-size: 14px;">The government has collected more than Rs 100 million in taxes from commodities market in the fiscal year 2010/11. Compared to the previous fiscal year, this year’s collection is almost double. The revenue was generated from three commodity future exchanges in operation.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Experts believe that if the revenue from two spot exchanges and brokers is included, the amount can be higher. Within five years of the first commodity exchange coming into operation, five exchanges are trading in the market while at least five are planning to begin operations.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Bijesh Shrestha, President of Commodities Brokers’ Association, said the number of brokers is also increasing with the number of exchanges. “So, tax deduction at source (TDS) and taxes paid by trading brokers, clearing brokers and exchanges are also increasing,†he said.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Shrestha said the revenue mobilisation can go further up as investors are increasing and if the market can be made more transparent with efficient regulation.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Mercantile Exchange has paid Rs 53.8 million as TDS to the government. Similarly, Nepal Derivatives Exchange has paid Rs 41 million in TDS and VAT. Commodities & Metal Exchange Nepal Ltd (COMEN) has paid Rs 1 million as tax to the state.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<h3 style="color: blue;">
<span style="font-size: 14px;">IMF Urges NRB to Have More Teeth</span></h3>
<div style="text-align: justify;">
<span style="font-size: 14px;">International Monitory Forum (IMF) has said that risk in Nepali financial sector is ever growing. IMF gave this conclusion after a two weeks study of the Nepali banking scenario. IMF has also commented that the Nepali economy is passing through a challenging phase.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">John Nelmes, Deputy Division Chief, Asia and Pacific Department of the IMF, in his team’s report has predicted that there is a high risk in financial sector due to high price of real estate. The report says that if the situation persists the economy will face more problems. Dr Sanjaya Panth, IMF’s senior resident representative for Nepal and India, said that weak supervision and excessive increase in the number of banks and financial institutions are contributing to the heightened risk. He said that threats have emerged also due to various other reasons.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">IMF has urged Nepal Rastra Bank (NRB) to exercise more power. IMF has asked the central bank to employ more authority at a time when NRB’s role has been criticised for being too invasive. Panth said more rights and powers must be given to NRB well in time to solve the problems seen in banks and finance companies.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">IMF has also suggested to tighten the lending in a single area like real estate and expanding supervisory power. It has said that there is no option to maintain the fixed exchange rate with the Indian currency.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Panth said that problems arose after financial institutions heavily invested in real estate and the business nosedived lately after increase in price. He said that the price must come down now.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<h3 style="color: blue;">
<span style="font-size: 14px;">Debentures in USD</span></h3>
<div style="text-align: justify;">
<span style="font-size: 14px;">Himal Hydropower Limited is issueing debenture in US dollar denomination. First company in Nepal to do so, the company will issue debentures of US $ 60 million after Nepal Rastra Bank adopted the provision to issue debentures in dollars for hydropower companies through its monetary policy.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Ace Capital is the issue manager for this debenture. The face value of a debenture is US $ 1000. The debenture that will be traded solely through the private sector will also be listed in NEPSE’s over the counter market. The debenture is being issued for five years. Coupon rate of the debenture is six per cent while interests will be paid every six months.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<h3 style="color: blue;">
<span style="font-size: 14px;">BoK Opens Account with ABOC</span></h3>
<div style="text-align: justify;">
<span style="font-size: 14px;">Bank of Kathmandu Ltd is now associated with Agricultural Bank of China Ltd, China, (ABOC) by opening a USD account with aboc’s Lhasa Branch. This account has been opened to serve importers in Nepal who import gods from China through the Tatopani Customs Office. ABOC Lhasa branch has SWIFT connectivity and online system with Zhangmu Sub-Branch (Khasa) through which smooth and quick processing of payments is expected.</span></div>',
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'title' => 'Exchanges Add Rs 100 Millon To State Coffers (september 2011)',
'sub_title' => '',
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'content' => '<div style="text-align: justify;">
<span style="font-size: 14px;">The government has collected more than Rs 100 million in taxes from commodities market in the fiscal year 2010/11. Compared to the previous fiscal year, this year’s collection is almost double. The revenue was generated from three commodity future exchanges in operation.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Experts believe that if the revenue from two spot exchanges and brokers is included, the amount can be higher. Within five years of the first commodity exchange coming into operation, five exchanges are trading in the market while at least five are planning to begin operations.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Bijesh Shrestha, President of Commodities Brokers’ Association, said the number of brokers is also increasing with the number of exchanges. “So, tax deduction at source (TDS) and taxes paid by trading brokers, clearing brokers and exchanges are also increasing,†he said.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Shrestha said the revenue mobilisation can go further up as investors are increasing and if the market can be made more transparent with efficient regulation.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Mercantile Exchange has paid Rs 53.8 million as TDS to the government. Similarly, Nepal Derivatives Exchange has paid Rs 41 million in TDS and VAT. Commodities & Metal Exchange Nepal Ltd (COMEN) has paid Rs 1 million as tax to the state.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<h3 style="color: blue;">
<span style="font-size: 14px;">IMF Urges NRB to Have More Teeth</span></h3>
<div style="text-align: justify;">
<span style="font-size: 14px;">International Monitory Forum (IMF) has said that risk in Nepali financial sector is ever growing. IMF gave this conclusion after a two weeks study of the Nepali banking scenario. IMF has also commented that the Nepali economy is passing through a challenging phase.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">John Nelmes, Deputy Division Chief, Asia and Pacific Department of the IMF, in his team’s report has predicted that there is a high risk in financial sector due to high price of real estate. The report says that if the situation persists the economy will face more problems. Dr Sanjaya Panth, IMF’s senior resident representative for Nepal and India, said that weak supervision and excessive increase in the number of banks and financial institutions are contributing to the heightened risk. He said that threats have emerged also due to various other reasons.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">IMF has urged Nepal Rastra Bank (NRB) to exercise more power. IMF has asked the central bank to employ more authority at a time when NRB’s role has been criticised for being too invasive. Panth said more rights and powers must be given to NRB well in time to solve the problems seen in banks and finance companies.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">IMF has also suggested to tighten the lending in a single area like real estate and expanding supervisory power. It has said that there is no option to maintain the fixed exchange rate with the Indian currency.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Panth said that problems arose after financial institutions heavily invested in real estate and the business nosedived lately after increase in price. He said that the price must come down now.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<h3 style="color: blue;">
<span style="font-size: 14px;">Debentures in USD</span></h3>
<div style="text-align: justify;">
<span style="font-size: 14px;">Himal Hydropower Limited is issueing debenture in US dollar denomination. First company in Nepal to do so, the company will issue debentures of US $ 60 million after Nepal Rastra Bank adopted the provision to issue debentures in dollars for hydropower companies through its monetary policy.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;">Ace Capital is the issue manager for this debenture. The face value of a debenture is US $ 1000. The debenture that will be traded solely through the private sector will also be listed in NEPSE’s over the counter market. The debenture is being issued for five years. Coupon rate of the debenture is six per cent while interests will be paid every six months.</span></div>
<div style="text-align: justify;">
<span style="font-size: 14px;"><br />
</span></div>
<h3 style="color: blue;">
<span style="font-size: 14px;">BoK Opens Account with ABOC</span></h3>
<div style="text-align: justify;">
<span style="font-size: 14px;">Bank of Kathmandu Ltd is now associated with Agricultural Bank of China Ltd, China, (ABOC) by opening a USD account with aboc’s Lhasa Branch. This account has been opened to serve importers in Nepal who import gods from China through the Tatopani Customs Office. ABOC Lhasa branch has SWIFT connectivity and online system with Zhangmu Sub-Branch (Khasa) through which smooth and quick processing of payments is expected.</span></div>',
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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/view.ctp, line 391
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
