Tuesday, December 24, 2024

Agrawal elected NFTA President

 Kathmandu, Dec. 23

Shiva Kumar Agrawal has been unanimously elected the President of the Nepal Foreign Trade Association (NFTA). The 44th Annual General Meeting of the NFTA held in Kathmandu on Sunday chose the new executive committee under his leadership.

The newly elected executive committee includes Anil Kumar Agrawal as First Vice President, Gaurav Sharda as Second Vice President, and Jayant Kumar Agrawal as General Secretary. Swati Rungta Agrawal has been elected as First Secretary, Vishnu Kumar Joshi as Second Secretary, and Rishiraj More as Treasurer, NFTA informed in a statement on Monday.

Likewise, Akash Golchha, Kumar Bahadur Karki, Govindlal Sanghai, Dipesh Khetan Agrawal, Nirmal Poudel, Pradeep Rajgadhia, Prabhat Kumar Sarraf, Basant Agrawal, Madan Mittal, Mayank Kedia, Ram Chandra Khetan, Bimal Siddhartha Vaid, Sumit Kumar Banshal, and Sanjay Agrawal are also elected unanimously to the executive committee of the association.

Meanwhile, President Agrawal has nominated Abhinav Churiwal, Pankal Jalan, Rupali Sikaria and Dilli Ratna Tuladhar as the executive committee members. The outgoing president and the preceding president serve as ex-officio members.

In his inaugural remarks, President Agrawal pledged to focus the committee’s efforts on strengthening the business-friendly environment and advocating for the rights and interests of entrepreneurs.

Addressing the opening session of the AGM, Dr. Yuba Raj Khatiwada, Economic and Development Adviser to the Prime Minister, said that policies adopted by the government over the past five to six years have worsened the economy.

However, he assured that the current administration is working to rectify the situation. While expressing agreement with many issues raised by the Association, Dr. Khatiwada stated that the reform process would take time.

Published in The Rising Nepal daily on 23 December 2024.   

Non-life insurance association draws SEBON’s attention to ‘impractical’ regulation provision

Kathmandu, Dec. 22

The Non-Life Insurance Association of Nepal has drawn the attention of the Securities Board of Nepal (SEBON) to a provision barring directors of the non-life insurance companies from selling their shares in the respective institutions for one year after resigning.

According to Regulation 38 (1a) of the Securities Registration and Issuance Regulations, 2079, directors are prohibited from buying or selling shares of the concerned company during their tenure and for a year following their departure.

In a statement issued on Sunday, the association has termed this rule 'impractical'.

"The provision regarding the sale of shares is extremely impractical. Directors, like other shareholders, are investors who represent shareholders in the board of directors. Restricting their ability to sell shares solely on this basis is unjust," read the statement.

A delegation led by the association's president, Rajendra Malla, who is also the former president of the Nepal Chamber of Commerce, met SEBON Chairperson Santosh Narayan Shrestha on Sunday to request an amendment to the provision.

Malla said that from an investment perspective, there is no difference between the financial interests of directors and other shareholders. The association also argued that directors, being shareholders themselves, should not be deprived of utilising their investments like others.

Malla further stated that prohibiting a businessperson from selling movable assets could hinder diversification efforts, entrepreneurial activities, and even essential household financial needs.

The association informed in the statement that it proposed the regulation be amended to allow directors to sell up to 50 per cent of their shareholding while still holding their position. It noted that the current restriction not only hampers the investment climate but could also negatively impact foreign investment prospects.

"Restricting any individual from buying or selling shares for a year after leaving their position is unreasonable. This provision should be revised to facilitate a more favourable investment environment," the statement read.  

Published in The Rising Nepal daily on 23 December 2024.   

Individuals, institutions receive ICT Awards 2024

 Prof. Dr. Suresh Raj Sharma felicitated with Pioneer ICT Award


Kathmandu, Dec. 21

Prof. Dr. Suresh Raj Sharma has received Pioneer ICT Award 2024 for his lifelong contributions to ICT education and development. Minister for Communication and Information Technology, Prithvi Subba Gurung felicitated Prof. Sharma with the award at a programme organised in Kathmandu on Friday evening.

Nami Baral won the Nepali Diaspora ICT Award in individual category while Manohar Adhikari received Entrepreneur ICT Award, and Bandana Sharma was felicitated with Ncell Woman Icon ICT Award.

The ninth edition of the ICT Award 2024 followed over a dozen pre-events and a rigorous six-month selection process, awards were presented in 15 different categories, informed the organiser of the event, Living With ICT.

From the institutional category, Supreme Court of Nepal won Digital Governance ICT Award, IME Pay got Digital Services Award, and Sukuna Secondary School of Morang won Digital Education from public sector and LRI School of Kathmandu from the private sector.

Sukuna Secondary School received a robotics kit worth Rs. 50,000 from Dursiksha.

Likewise, various start-ups were also awarded on the occasion. CrimsonTech won Startup award, API Management System received Product award, SpeakUp Nepal got Rising Star Innovation award, and GeoKrishi The Asia Foundation Social Innovation award.

SpeakUp Nepal received US$500 in Amazon Web Services credits by Genese Solution.

The Public Choice ICT Award 2024 went to Jyaap Services, while the South Asia Startup ICT Award 2024 was claimed by India’s Hyphen SCS.

Addressing the event, Minister Gurung said that the government has fallen short of expectations in the information technology sector. "We declare an IT Decade but fail to allocate the necessary budget. Nepal still lacks a single IT park," he said.

However, he assured the government's commitment to improving infrastructure, reforming policies, and creating a business-friendly environment for the private sector.

Amber Bahadur Thapa, Chair of the Education, Health, and Technology Committee of the Federal Parliament, said that Nepal's IT development lags behind global trends. Similarly, National Planning Commission Vice Chair Prof. Dr. Shivaraj Adhikari stated that the ICT Award has been instrumental in discovering talents from remote areas, with the government prioritising IT and startups.

Likewise, ICT Award Chairperson Rajan Lamsal said that the programme, active since 2016, has not only contributed to developing Nepal's digital ecosystem but has also gained international recognition.

Similarly, seven outstanding startups, one from each province, were honoured with the IFN Province Startup ICT Recognition 2024. These startups were selected following mentorship sessions, boot camps, and industry visits held in Kathmandu. The winners include, Delta Tech from Koshi, Tejas Tech from Madhes, Abhiyantrik Karmashala from Bagmati, Akash Digital from Gandaki, Ninja Infosys from Lumbini, Business Online Services from Karnali and Far-West Infotech and Research Centre from Sudurpaschim province.

This year, the ICT Award 2024 saw over 800 online nominations across 14 categories. A panel of 14 national and three international jury members conducted more than 25 meetings to finalise the winners.

Published in The Rising Nepal daily on 22 December 2024.   

Xiaomi launches Outdoor Speaker

Kathmandu, Dec. 21

Xiaomi has launched the Xiaomi Sound Outdoor Speaker in Nepal. The device is designed for outdoor use, offering portable audio performance with a durable build.

The speaker features a 30W audio output with dual passive woofers and supports a frequency range of 60Hz to 20 KHz. It also includes Bluetooth 5.4 for device pairing and call functionality. Users can pair two speakers for stereo sound or connect up to 100 units for a larger audio setup, Xiaomin Nepal informed in a statement on Saturday.

With an IP67 rating, the speaker is water-resistant and dustproof, making it suitable for outdoor environments. It has a battery life of up to 12 hours and takes 2.5 hours to fully recharge.

The product has an award-winning design, recognised by the Red Dot Design Award, read the statement. It is compact, measuring 197 x 68 x 66 mm, and weighs 597g. The speaker comes in Black with an orange handle, Red, and Blue colour options.

Speaking at the launch of the product, Manu Manaswi, Xiaomi Nepal’s Country Manager, said the product is aimed at enhancing users' outdoor audio experience with its design, features, and pricing.

The Xiaomi Sound Outdoor Speaker is priced at Rs. 6,299 and is available at authorised Mi Stores and retailers across Nepal.

Published in The Rising Nepal daily on 22 December 2024.   

Saturday, December 21, 2024

Foreign Minister Dr. Rana urges India for additional air routes

Kathmandu, Dec. 20

Minister for Foreign Affairs Dr. Arzu Rana Deuba has urged India to grant Nepal additional air routes, a demand that the country has long been raising with its southern neighbour.

With the two new international airports in Bhairahawa and Pokhara and one more in the offing at Nijgadh, the country is in need of enhanced air connectivity.

Speaking at the Indo-Nepal Economic Conference in New Delhi on Friday, she underlined the significance of such cooperation for Nepal’s aviation and tourism sectors, the Ministry of Foreign Affairs (MoFA) informed in a statement.

“We have constructed two international airports in Pokhara and Lumbini, both of which are globally significant destinations. Pokhara is a renowned tourist city while Lumbini is the birthplace of Lord Buddha. These airports are not only meant to boost tourism but also to enhance overall connectivity. To operate them at full capacity, we require additional air routes,” FM Dr. Rana said elaborating on her demand made with India.

She also appealed to Indian airlines to increase flights to Nepal and assured them of maximum facilitation, including attractive incentives from the Government of Nepal. According to her, these airports will promote not only tourism but also help strengthen people-to-people ties and bilateral relations between the two nations.

 Dr. Rana said that the full operation of these airports, aided by additional air routes, would unlock further tourism potential between Nepal and India while also contributing to South Asia's connectivity. She cited joint initiatives like the Ramayana Circuit and the Buddha Circuit as effective ways to promote religious and cultural tourism and called for collaborative efforts to realise mutual benefits.

The Foreign Minister invited Indian investors to explore Nepal’s vast opportunities while informing that India remains the largest investor in the country. She highlighted Nepal's recent sovereign credit rating of ‘BB-’ as evidence of its investment-friendly environment. The rating is best in South Asia after India.

“Nepal has restructured its policies and enacted numerous laws to improve the investment climate. We are ready to sign bilateral investment agreements with as many countries as possible and offer attractive incentive packages, including tax benefits and export promotions,” said FM Dr. Rana.

She expressed the government's support in guaranteeing the full repatriation of investment earnings.

She also appreciated recent progress in cross-border infrastructure development, especially in the areas of rail links, petroleum pipelines, electricity transmission lines and motorable bridges. She also urged India to ease non-tariff barriers, facilitate border trade, and implement bilateral agreements to ensure balanced trade relations.

FM Dr. Rana acknowledged the breakthrough in cross-border electricity trade. An agreement for it was signed by former Nepali Prime Minister Sher Bahadur Deuba and Indian Prime Minister Narendra Modi in April 2022. "This agreement set the stage for Nepal to export up to 10,000 MW of electricity to India within a decade. Additionally, a recent tripartite deal has enabled Nepal to sell 40 MW of electricity to Bangladesh via the Indian grid," she said while adding that the agreement has encouraged hydropower developers to invest in Nepal’s energy sector.

Dr. Rana had reached New Delhi directly from Germany to participate in the conference on Thursday. She will return to Nepal on Monday.

Published in The Rising Nepal daily on 21 December 2024.   

Phewa Dialogue 2024 concludes

Kathmandu, Dec. 20

A two-day Phewa Dialogue 2024 organised jointly by Tribhuvan University of Nepal and Sichuan University of China concluded on Friday.

According to the Embassy of China in Nepal, speaking on the occasion, the former president of Nepal, Bidya Devi Bhandari, highlighted China’s rapid achievement in poverty alleviation and its remarkable economic success, which offers a replicable model for South Asia and could be a valuable ally in their journey toward development and prosperity.

She also stressed the need to unite for a safe, stable, and prosperous world.

The Phewa Dialogue brought together economists, strategists, development experts, and former government officials from China, South Asia, and Southeast Asia to discuss regional economic development strategy, read the statement by the embassy. It also said that the event aimed to be the pioneer and flagship project of high-level forums in the region.

Chinese Ambassador to Nepal, Chen Song, said that the fifth international industrial transfer was accelerating, and it was necessary for South Asia to seize the 'once-in-20-years' opportunity offered by the times.

"South Asia should promote regional integration and stay committed to an open economy and inclusive regionalism," he said.

Ambassador Chen also expressed hope that the Phewa Dialogue would gather wisdom for policy-makers in the region, and provide a constant source of strength for high-quality economic growth.

Likewise, former Finance Minister and Chief Economic Advisor to Prime Minister KP Sharma Oli, Dr. Yuba Raj Khatiwada, said that the global industrial transfer has led to the rapid rise of emerging economies such as China.

"South Asian countries, with their great human capital and abundant natural resources, could be an ideal destination for foreign investment and industrial transfer, and should prioritise areas like information and communication technology and clean energy, and focus on productivity improvement," he said.

Former Malaysian Minister of Transport Ong Tee Keat introduced ASEAN’s economic development and the significance of China’s Belt and Road Initiative on regional connectivity.

He noted that South Asia remains the least integrated region in the world, and the need to seize the opportunity offered by BRI and the ideal of a Community of Shared Future where least developed economies are given an equal place as equitable stakeholders.

Similarly, Yao Leye, Vice President of Sichuan University, said that the Phewa Dialogue represented yet another milestone in the fruitful partnership between Sichuan University and Tribhuvan University.

Prof. Dr. Keshar Jung Baral, Vice Chancellor of Tribhuvan University, said that Tribhuvan University, as Nepal’s oldest university, has maintained a long-standing cooperative partnership with Sichuan University. He expressed the willingness to further strengthen cooperation, enhance bilateral partnership with China and other South Asian countries and promote regional development.

Published in The Rising Nepal daily on 21 December 2024.   

Nabil integrates toll-free number to customer care

 Kathmandu, Dec. 20

Nabil Bank Limited has integrated toll-free numbers into the Nabil Customer Care Centre. The bank informed in a statement on Friday that this new initiative was introduced to accelerate customer experience by offering a seamless, accessible, and cost-free communication channel for all banking inquiries, support, and assistance.

"Nabil Bank’s customers can connect to the call centre for a wide range of services like account inquiries, product information, technical support, transaction disputes and others without any charge ensuring easy access across the country," read the statement.

Customers of Nepal Telecom can dial 16600-162245 while Ncell users can connect to 18102-162245 for their queries. "This facility connects the customers to the Customer Care Centre 24/7 without any charges, ensuring a more inclusive and customer-friendly service," said the bank.

Nabil Bank currently operates through 268 branches and 320 ATMs across the country serving over 2.4 million customers.

 Published in The Rising Nepal daily on 21 December 2024.   

FNCCI, KOIMA sign MOU to promote Nepali products in Korea

Kathmandu, Dec. 19

The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and the Korea Importers Association (KOIMA) have signed a Memorandum of Understanding to promote Nepali products in the Korean market and expand investment.

The MoU was signed by FNCCI President Chandra Prasad Dhakal and KOIMA President Kim Byung-kwan at an event held in Seoul, South Korea on Thursday, the FNCCI informed in a statement.

KOIMA is an organisation established in South Korea to promote industrial environment and provide easy access to goods by importing industrial raw materials and, especially, goods not produced locally. "FNCCI believes that cooperation with an organisation focused on imports will facilitate the expansion of Nepali products in Korea. This is expected to reduce the trade deficit between Nepal and South Korea, which currently stands at around Rs. 7 billion," reads the statement.

According to the FNCCI, given that Nepal currently exports traditional goods such as felt, carpets and yarn, the FNCCI believes that cooperation with KOIMA will help find markets for industrial raw materials and other products.

At the event held to commemorate the 50th anniversary of diplomatic relations between Nepal and Korea and to sign the MoU, Dhakal said that there is immense potential to strengthen economic relations between Nepal and Korea.

Meanwhile, speaking at the event titled ‘Investment and Trade Opportunities in Nepal’ organised by the Nepali Embassy in Seoul, Minister for Industry, Commerce and Supplies Damodar Bhandari, Dhakal said that Nepal's energetic and youthful workforce, natural resources and proximity to large markets are important for Korean investors.

Speaking at the programme, Dhakal provided information about the government's steps to create an investment-friendly environment by amending eight investment-related laws.

Dhakal also highlighted Nepal's favourable economic indicators. He informed the investors that foreign exchange reserves had reached around 17 billion US dollars and that Nepal had received its first-ever credit rating which resulted in satisfactory BB- rating.

Dhakal emphasised the importance of infrastructure development and invited Korean expertise and investment in roads, railways, airports, urban planning, hotels, resorts, cable cars and smart cities.

 Published in The Rising Nepal daily on 20 December 2024.   

AmCham stresses favourable business climate

Kathmandu, Dec. 18

The American Chamber of Commerce in Nepal (AmCham Nepal) has suggested reforms across diverse sectors, emphasising the need to create a favourable environment for business growth and bilateral cooperation.

In a comprehensive memorandum to the Government of Nepal, presented to the Deputy Prime Minister and Minister for Finance, Bishnu Prasad Paudel, AmCham Nepal has outlined strategic recommendations to enhance the country’s investment climate and foster stronger economic ties between the United States and Nepal.

The organisation's Chairperson Nirmal Kajee Shrestha and board member Samrath Mogha discussed with DPM Paudel the critical role of US investments in fostering inclusive economic growth in Nepal.

The delegation emphasised how collaboration with AmCham Nepal could drive innovation, create jobs and build a dynamic economy through US investments, it said in a statement on Wednesday.
AmCham Nepal underscored the importance of introducing favourable policies and regulatory frameworks to attract and sustain foreign investments.

"Such measures are crucial for ensuring a business-friendly environment where US investors feel confident in contributing to Nepal’s sustainable development," said Mogha.
The memorandum included issues like facilitating the smooth repatriation of post-tax profits, unlocking the potential of the ICT industry to generate significant revenue for Nepal, ensuring tax stability for businesses, addressing ride-sharing regulations, revising Service VAT Tax policies, enhancing the Double Tax Avoidance Agreement (DTAA), and strengthening measures to combat anti-money laundering.
"The recommendations aim to address key challenges faced by US companies operating in Nepal, enabling them to contribute effectively to the nation’s economic growth," read the statement.
AmCham Nepal remains committed to policy advocacy, working closely with the Government of Nepal to support the seamless operation of US companies in the country, said Shrestha.

 Published in The Rising Nepal daily on 19 December 2024.   

Discussions underway for constitution amendment

Lalitpur, Dec. 19

Speaker of the House of Representatives, Devraj Ghimire has said that discussions are underway about the need for a review of the constitution.

"As the constitution nears a decade of implementation, discussions are underway about the need for its review. It is important to deliberate on our constitutional and legal provisions to keep the constitution dynamic and relevant to the times," he said at the National Governance Symposium (NGS) organised by Governance Lab of Daayitwa Abhiyaan in partnership with Nepal Administrative Staff College (NASC) with support from the Prime Minister's Office, National Planning Commission and Leadership Academy in Lalitpur on Thursday.

He stressed on greater cooperation among various levels of the government to ensure the success of federalism in Nepal especially in the areas like school education, civil service and police integration which are in the implementation phase.

"I believe that federal governance is a process of continuous improvement, addressing problems as they arise. However, the three levels of government still need to finalise some key policy and legal frameworks," said Speaker Ghimire.

Each level of government is carrying out its responsibilities, including policymaking and implementation, to achieve common goals like sustainable development. This includes addressing the needs of all sectors, genders, languages, religions, cultures, and minority communities while focusing on designing and implementing development and service delivery frameworks, he stated.

According to Ghimire, the success of federalism is also reflected in how well these aspects are addressed.

"There don’t appear to be major disagreements or disputes regarding the division of powers among the three levels of government and their implementation. Some of the shortcomings observed during the initial phase of federalism have also been resolved through practice," he said.

Ek Narayan Aryal, Chief Secretary of the Government of Nepal, said that lack of coordination among the sub-national governments in policy formation has posed challenges to the prosperity.

"Green resilience and inclusive development are the new initiatives in national development while participation of youth is paramount to this drive. This demands intensified collaboration among the three levels of the government," he said.

Aryal also suggested removing duplicities in laws and adopting participatory approach in formulating national and local policies. "The government is at the final stage to amend the laws that create obstacles in national development – including laws related to land acquisition and forest clearance," he said while seeking feedback from the conference in this initiative.

He stated that without proper digitalisation of public services, the delivery wouldn't be effective and productive, so the government has expedited the digital development in the areas like immigration, national identity cards and utility payments.

Speaking on the occasion, Sapana Malla Pradhan, a Supreme Court Justice, said that the constitutional bench at the Supreme Court has received many cases against the local body-enacted laws conflicting with the constitution of the country. "Strengthening of the local governments with better and effective policies and laws and capacity development of leaders is vital for good governance and effective service delivery," she said.

She also stressed that the intent of the laws should be good with their focus on facilitating people, not creating hurdles in their day-to-day affairs. Malla also said that there is a challenge in changing the opinion and attitude of people towards the inclusion of women across sectors and levels.

Likewise, Senior Vice-President of the Federation of Nepalese Chambers of Commerce and Industry, Anjan Shrestha, said that although the constitution had given a lot to all the communities the private sector still feels that it is a bit conservative in regard to the private sector.

The private sector had also fought to bring about new changes in politics and economy and was successful in mentioning 'open-market economy' in the constitution, he said. "Businesses and industries are still facing the challenge of tax duplication at various local bodies, all levels of the government should cooperate in removing such redundancies," he suggested.

Dr. Rajan Khanal, Executive Director of the NASC, said that since the country can't backtrack from the principles of inclusivity, it should learn from the federal and inclusivity models adopted by the federal states across the globe.

According to him, discourse among the governments should happen frequently to troubleshoot the challenges that arise while implementing the federal policies and practices.

The organisers said that the 2-day conference was organised to foster discussions on and create a collaborative community for governance innovations and inclusive development in Nepal. 

 Published in The Rising Nepal daily on 20 December 2024.   

NRB policy meant to strengthen banking sector: Governor Adhikari

Kathmandu, Dec. 19

Governor of the Nepal Rastra Bank (NRB), Maha Prasad Adhikari, has said that the policy implemented by the Nepal Rastra Bank (NRB) aimed at strengthening the banking sector in Nepal and they were not intended to create trouble in the industry. 

Speaking at the Annual Meeting of the Nepal Bankers' Association (NBA) on Wednesday evening, he said that the banking sector in the country is more transparent than any other sector of business.

Governor Adhikari also expressed hopes that the banking business will witness good days in the days to come.

He refuted the banks' statement that they couldn't distribute dividend due to the policy of the central bank and said that the distribution of dividend is based on the capacity of the individual company.

"The NRB accords priority to the financial stability in the country rather than micro-managing the banks and financial institutions," he stated.

According to Governor Adhikari, since there is sufficient liquidity in the financial system while the financial indicators are also good, there is no serious threat to the industry. However, increasing non-performing loan portfolio has created risks to the BFIs so they need to pay more attention to credit recovery, he said.

The annual meeting has elected a new working committee of the association of the 20 class 'A' commercial banks in the country under the leadership of Santosh Koirala, Chief Executive Officer of Machhapuchchhre Bank Limited. He was serving as the Vice-President of the association.

Likewise, Surendra Ragmi, CEO of the Global IME Bank Limited, is elected as the Vice-President. Members of the NBA are Tilak Raj Pandeya of Nepal Bank, Ram Chandra Khanal of Kumari Bank, Ashok Sherchan of Prabhu Bank, Nischal Raj Pandey of Sanima Bank, Sanjeev Manandhar of Prime Commercial Bank, Sundar Prasad Kandel of Siddartha Bank and Sudesh Khaling of Everest Bank.

Immediate Past President Sunil KC will remain as an ex-officio member in the working committee while Ashok Shumsher JBR and Gyanendra Prasad Dhungana are the advisors.

Outgoing President of the NBA, Sunil KC, highlighted the contribution of the banking sector to the national development and financial inclusion with the expansion of branches to all 753 local units. He appreciated the role of the NRB in timely regulation which resulted in the BB- in the sovereign country rating.

"However, political instability, economic slowdown and decreasing credit demand has negatively impacted the banking industry. Quick fluctuations in the liquidity has also posed threats to the stability of the financial system," said KC.

 Published in The Rising Nepal daily on 20 December 2024.   

Nepal reiterates its commitment to BIMSTEC Charter

 Kathmandu, Dec. 19

Nepal has reiterated its firm commitments to the vision, objectives of BIMSTEC Charter.

Addressing the twenty fourth Session of Senior Officials' Meeting (SOM) of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) held virtually from Bangkok on Thursday, Acting Foreign Secretary Amrit Bahadur Rai expressed the national view on the regional body.

Rai shared status of progress made in people to-people contact and various sub-sectors including culture, tourism and poverty alleviation, the Ministry of Foreign Affairs (MoFA) informed in  statement. 

Nepal is a lead country for  People-to-People Contact Forums. 

Paisan Rupanichkij, Deputy Permanent Secretary for Foreign Affairs of Thailand- current BIMSTEC Chair- chaired the Sesion which was attended by Foreign Secretaries and other high officials of BIMSTEC Member States. 

Meanwhile, Rai also underscored the need to effectively implement existing legal instruments; work together for equitable climate financing; and enhance connectivity, institutionalization process within BIMSTEC. 

The session considered various Memorandums of Understanding, reports, plans of action on cooperation in agreed priority sectors and recommended these policy documents for endorsement by next BIMSTEC Ministerial Meeting. 

According to MoFA, the Session also dwelt on other preparatory works leading up to the sixth BIMSTEC Summit in Bangkok, Thailand ahead.

 Published in The Rising Nepal daily on 20 December 2024.   

FM Dr. Rana for ensuring inclusive foreign policy

Kathmandu, Dec. 18

Minister for Foreign Affairs of Nepal, Dr. Arzu Rana Deuba, has stressed the need for a feminist foreign policy to ensure equality and the rights of all minority groups.

Addressing a panel on LGBTQI+ in Feminist Foreign Policy at the Equal Rights Coalition Conference in Berlin, Germany on Tuesday, she highlighted the transformative potential of such a policy to ensure inclusivity, justice and reconciliation, informed the Ministry of Foreign Affairs (MoFA) of Nepal in a statement on Wednesday.

“A feminist foreign policy works to challenge patriarchal structures based on hierarchy and exclusion. This policy prioritises the principles of inclusion, empathy and equality and, overall, advances the broader concept of human security, treating everyone equally in diplomacy.”

FM Dr. Rana described feminist foreign policy as a framework that emphasises reconciliation, equality and inclusivity like other policies of equality.

She emphasised its role in protecting the rights and interests of minority groups, including the sexual and gender community based on mutual understanding and equality. "We need to revive a feminist foreign policy while respecting the sensitivities of sexual and gender minorities. This will prove helpful in building a society based on justice and equality," she stated.

According to her, superficial changes alone are not enough to resolve discrimination and injustice, so there should be equality in policies to transform social values and norms. She also lauded Nepal for setting an example in the world in ensuring and protecting the SGM (Sexual and Gender Minorities) rights.

Minister Dr. Rana's remarks followed her participation in another panel on ‘Pathways to LGBTQI+ inclusion in national laws and policies’ in Berlin on Tuesday, where she highlighted Nepal's significant achievements in ensuring inclusion and the rights of the LGBTQI+ community. Nepal made these achievements through progressive laws and their effective implementation, she noted.

She underscored that the 2007 verdict of Nepal's Supreme Court legally recognised the SGM community and directed the amendment to discriminatory laws. The ruling also paved the way for legally recognising same-sex marriage, making Nepal the first country in South Asia to do so.

 Published in The Rising Nepal daily on 19 December 2024.   

Pharma and health expo in capital from Dec. 20-22

Kathmandu, Dec. 18

The 4th Nepal Pharma and Health International Exhibition along with the Nepal Hospital, Surgical, and Medical International Exhibition is set to take place from 20 to 22 December at the Bhrikutimandap Exhibition Centre, Kathmandu.

The event, jointly organised by Media Space Solutions Pvt. Ltd., Futurex Trade Fairs and Events Pvt. Ltd., and Exhibition and Trade Services India Pvt. Ltd. (ETSIPL), will showcase the products of over 100 national and international companies, featuring stalls that highlight pharmaceutical, medical, healthcare, and surgical sectors.

"It is designed to bring together key players in these industries, fostering networking, partnerships, and technological exchange," said the organisers. Seminars and workshops will also take place during the expo which will discuss new developments in medical science and explore Nepal’s role in global healthcare advancement.

"Nepal’s healthcare and pharmaceutical industries are growing at a steady pace, contributing to the nation’s economy and promoting sustainable development. Events like this provide Nepalese businesses with opportunities to engage with global trends and new innovations, such as advanced medicines and modern healthcare technologies," the organisers said in a statement on Wednesday.

 Published in The Rising Nepal daily on 19 December 2024.   

Shamsi calls on PM Oli

 Kathmandu, Dec. 18

Ambassador of the United Arab Emirates (UAE) to Nepal, Abdullah Al Shamsi, paid a courtesy call on Prime Minister KP Sharma Oli at the latter's residence in Baluwatar on Wednesday.

During the meeting, Ambassador Al Shamsi handed over an official invitation from the UAE’s Vice President and Prime Minister, Mohammed bin Rashid Al Maktoum, to attend the World Governments Summit scheduled to be held in Dubai in the second week of February, informed the Prime Minister's Secretariat in a statement.

The discussions between PM Oli and Ambassador Shamsi were focused on strengthening the bilateral friendly relations between Nepal and the UAE. They also deliberated on effectively implementing previous bilateral agreements and explored opportunities for further cooperation in areas such as trade, investment, agriculture, hydropower, tourism, and renewable energy.

Officials from the Ministry of Foreign Affairs (MoFA) of Nepal were also present during the meeting.

 Published in The Rising Nepal daily on 19 December 2024.   

56 FDI projects worth Rs. 2.1 B approved in one month

Kathmandu, Dec. 17

The Department of Industry (DoI) has approved 56 projects under the Foreign Direct Investment (FDI) in the month of Mangsir (mid-November to mid-December 2024) with the commitment of Rs. 2.11 billion.

Of these projects, 29 (worth Rs. 502 million) were approved through the automated route while 27 (of Rs. 1.60 billion) were approved through the approval route, informed the Foreign Investment and Technology Transfer Section of the DoI in its report published on Tuesday.

Likewise, the Department also approved two share purchase agreements/share subscription agreements (SPAs/SSAs) and nine technology transfer agreements (TTAs). These projects have potential to create as many as 1,363 jobs.

According to the DoI, the number of projects approved in the first five months of the current fiscal year 2024/25 is 319 while there are also 27 SPA/SSAs and 22 TTAs with the potential of creating more than 9,200 jobs.

Total committed investment in this fiscal year has reached Rs. 20.77 billion. About 138 of them were approved through the automated route. The government has established an automated route and one-stop service centre at the DoI with the aim of facilitating foreign and large investors.

The Department informed that of the registered industries, tourism tops the list with 145 projects followed by the Information and Communication Technology at 106. Tourism-related businesses have commitment of Rs. 12.7 billion investment. Likewise, 40 are in the service sector, 22 in manufacturing and five in agriculture and forestry. Only one project is approved in infrastructure sector.

Similarly, service-sector industries have made the commitment of Rs. 4.8 billion investment, manufacturing Rs. 1.81 billion and ICT sector businesses Rs. 678 million.

In the past five months, Rs. 851.6 million has been repatriated from Nepal to other countries in the name of royalty and dividend. The royalty is repatriated in Nepali currency, Indian rupees and US dollars.

According to the DoI statistics, the number of total FDI-based industries in Nepal has reached 6718 with the investment commitment of Rs. 540.53 billion and job creation for 337,514 individuals.

 Published in The Rising Nepal daily on 18 December 2024.   

Qatar’s National Day observed

Kathmandu, Dec. 17

On the occasion of Qatar’s national day, its ambassador Al-Ansari reaffirmed Qatar's commitment to supporting Nepal’s aspirations for prosperity and deepening the bonds between the two nations.

Qatar marks its national day on December 18 every year to commemorate the unification of Qatar under its founder, Sheikh Jassim bin Mohammed Al Thani, under whose leadership Qatar became a single cohesive entity and unified country in 1878, the Embassy of Qatar in Kathmandu informed in a statement.

The Embassy organised a series of programmes to celebrate the day. Vice President Ram Sahay Prasad Yadav attended a dinner hosted by the embassy, where he extended his heartfelt wishes to the State of Qatar and its people, on Monday.

Qatari Ambassador to Nepal Mishaal bin Mohammed Al-Ansari and Vice President Yadav jointly inaugurated the Celebration by cutting the cake.

During the event, Ambassador Al-Ansari spoke about the strong diplomatic ties between Nepal and Qatar, which have flourished since their establishment in 1977. He praised the contributions of Nepali workers to Qatar’s development and prosperity.

 Published in The Rising Nepal daily on 18 December 2024.   

Tuesday, December 17, 2024

Future Course For Newspapers

The top administrative officer of one of the largest publishers in Nepal said a couple of years ago that the company has largely failed to sell the space in its newspaper, and they have to offer discounted or free-of-cost promotion in the company’s digital platforms and radio station to attract the advertisers to the print version of the newspaper, which is among the most popular print media here. The publication has been forced to cut down the print copies of the newspaper by three-fourths while the number of pages has been halved in a decade.

This is a global trend that can be gauged from the fall in the circulation of Asahi Shimbun, one of the largest-selling daily newspapers published in Japan. The newspaper's circulation went down from 7 million copies a day in 2015 to 4.68 million in 2021—a loss of 2.32 million subscriptions.

The Digital News Report 2022, a Reuters Institute initiative, found that social media has overtaken the news websites or apps as the main news source for 18-24-year-olds over a 7-year period from 2015 to 2022. News media was the main source of news for about 40 per cent of them in 2015, but it came down to 34 per cent in 2022, while social media climbed to 39 per cent from about 22 per cent.

About 300 students from the first semester of their bachelor's degree, pursuing various disciplines in Kathmandu, said that they haven’t read any daily or weekly newspapers, listened to radio news bulletins, or watched a television news show in the past three months. Most of them got the updates from the social media platforms of popular media or social media, like Routine of Nepal Banda, which they call RONB, and got the news directly from the sources like Nepal Police, their favourite political leaders, and organisations.

For example, the mayor of Kathmandu Metropolis, Balendra Shah, has 2.2 million followers; Nepal Police has 1.8 million, and leaders like Gagan Thapa, KP Sharma Oli, and Rabi Lamichhane have more than 500,000 followers on Facebook. Gagan Thapa has more than 1.2 million followers on X (formerly Twitter), and former Miss Nepal Shrinkhala Khatiwada has 2 million followers on Instagram. Artistes like Rekha Thapa, Priyanka Karki, and Anmol KC have more than three, two, and one million followers, respectively. These stories tell how serious the situation is. The rise of the smartphone has changed how society consumes news, impacting traditional media platforms like radio and television around the globe. 

While legacy media around the world are applying various innovations and reforms in their news organisations, newsrooms, and content creation, Nepali media seems rather indifferent towards the changing trend and news consumption pattern. A couple of internet-based media have been experimenting with the latest trend of multimedia content creation with short videos, reels, or shorts.

  Audience behaviour

It seems that most of the media are largely ignorant about the latest trends in the behavioural changes in the consumers of the news information, while a small section of it has realised the urgency and begun to form social media teams and work on search engine optimisation (SEO) and social media boosting. This kind of awareness is seen in media like Kantipur, Onlinekhabar, Setopati, and Himalaya TV. The Nepali media industry lacks research and development initiatives to suggest they follow the latest trend and cater to their audience better.

Meanwhile, state-funded media have not given a thought to cashing in on the social media potentials, attracting the young audiences, and expanding the consumer base for their publications or broadcasts. They don't have any social media department, promotional team, or multimedia professionals that solely work to create content targeting the youth. For this, the online editorial team or social media managers should include professionals who are 'digital native' or 'social native.' Some experts even suggest that media should hire influencers.

Just to take an example, Yuba Manch monthly, the only magazine and a sister publication of The Rising Nepal daily published by the Gorkhapatra Corporation, doesn't have a separate web portal, let alone any social media presence or practice. The publication posts the .pdf files of the magazine online every month. This is the entire new media practice of the youth monthly. Children's magazine Muna and literary magazine Madhupark monthlies are also facing the same fate. Despite having a monopoly in the market in their respective media segment, they don't look like reaping the available benefits and maintaining the status quo they enjoyed about a couple of decades ago. Even the dailies don't have social media accounts that remain active 24/7.

Although the future course of the newspapers could be projected with the available research and market trend, Republica Daily, which ceased its publication since the advent of the COVID-19 pandemic, has resumed its print version recently, although it's just a 4-page daily.

However, a couple of newspapers might survive in the digital age if they adopted a hybrid model to cater to the audiences through the digital media and traditional print copies. To ensure their survival, print newspapers should make sure that newspapers are made available at public places, cafes, and gym halls so that people seeking solace from the screen or technology fatigue can use them.

 Reach out to youth 

It is interesting to see that even the social media platforms like Facebook and X have lost their appeal to the digital natives, and the latter have increasingly shifted to Instagram and TikTok. In seven years, from 2015 to 2022, the number of youth obtaining news from Facebook has gone down to 19 per cent from about 40 per cent. It can be said that these findings can't be fully applied in the media market scenario in Nepal because Reuters had conducted the study in 12 developed markets, including the UK, USA, Germany, France, Spain, Italy, Ireland, Denmark, Finland, Australia, Brazil, and Japan. But the way youngsters are being educated, exposed to the latest technology, and have global exposure through various channels of communication is almost identical, be it in a developed nation or the least developed country.

Therefore, the legacy media should devise a strategy to win the hearts of high school students so that they start reading newspapers and magazines. It is imperative that the newspapers and books survive in order to maintain the diversity and variety of media.

A trend of remaining disconnected from the internet connection, within a small group, especially in developed countries, has also been started of late. This can also be an opportunity for the legacy media to make penetration in those segments or prepare themselves for it.

 Invest in research 

A good lesson can be learnt from The New York Times or newspapers in Japan, which have given priority to analysing customer data to create content of readers' choice, focus on digital subscriptions, and devise strategies to cater to the different needs of varieties of audiences. Though it sounds challenging, same-day delivery of print newspapers, as practiced by some Japanese dailies, can give some respite to the print media. Regional and local media can exclusively focus on community matters and people to maintain and solidify their presence.

Meanwhile, the pervasiveness of digital media and the use of AI in content generation have created a menace of misinformation and disinformation. The legacy media, with their adherence to better gatekeeping, credibility, and integrity, can leverage their brand credibility in positioning themselves in the market. However, they mustn't shy away from the digital-first strategy. Equally important is storytelling. How do you tell a story that is more important now than what you tell to your audience?

Investing in journalism across platforms ranging from print editions to social media outlets could be the best solution, probably. Most of the research has also suggested this. Solidifying the presence and performance across multiple platforms can boost the interest of the audience in alternative channels of the same media. The sooner the legacy media recognise that youth, or digital natives, get news from online aggregators, social media, and video networks, the better they can find a way to survive and perform better in the competitive markets.

 Published in The Rising Nepal daily on 16 December 2024.   

Karki elected NAFIJ president

 Kathmandu, Dec. 15

Menuka Karki has been elected the president of Nepal Association of Financial Journalists (NAFIJ). The 15th annual general assembly of the association on Saturday elected a 10-member working committee that includes Pitambari Khatiwada and Niroj Kumar Thapa as vice-presidents, Nikesh Khatri as general secretary, Rajaram Neupane as secretary and Milan Bishwokarma as treasurer. Likewise, Anup Acharya, Shukra Giri, Chitra Raj Bhandari and Anish Mijar have been elected as members while the immediate past president Modnath Dhakal will also be on the working committee.

On the occasion, NAFIJ awarded three best reports in economic and banking journalism. Lokendra Bishwokarma of Ukalo won the Rs. 100,000 Sharda-Dhundiraj Nafij Economic Journalism Award while Anup Acharya of Taksar Monthly and Amrit Chimariya of Onlinekhabar won CBFIN-NAFIJ Banking and Economic Journalism awards each with Rs. 50,000 and certificate each.

Speaking at the event, Minister for Communication and Information Technology, Prithvi Subba Gurung, said that the political instability in the country had pushed the country into policy uncertainty that negatively impacted the confidence of investors and businesses.

"There should be greater collaboration between the government and private sector to achieve shared prosperity. The government is serious about addressing the challenges faced by the private sector," he said.

Minister Gurung also said that his Ministry was working on updating and revising various laws and policies related to the communication and information technology sector. 

 Published in The Rising Nepal daily on 16 December 2024.   

Nepal needs to upgrade to vehicle production from assembly business

Kathmandu, Dec. 15

Minister for Physical Infrastructure and Transport, Devendra Dahal, said that Nepal should move to production of vehicles from current assembly business.

"The government is ready to facilitate in this initiative and would create necessary policy environment to promote business and investment in this sector," he said while addressing the 48th annual general assembly of the NADA Automobile Association in Lalitpur on Sunday.

According to him, automobile and physical infrastructure are closely related and government's duty is to develop quality roads that facilitate safe and timely travel.

Minister Dahal also said that both the monetary and fiscal policies should be predictable and must not leave the investors clueless about their announcements and prospective provisions.

He maintained that the government is favourable to the promotion of the environmentally sustainable transport facilities including passenger and public transport.

Speaking on the occasion, President of Nepalese Chambers of Commerce and Industry (FNCCI), Chandra Prasad Dhakal, said that the country immediately needs policies to address the economic contraction caused by the preventive measures applied in the aftermath of the COVID-19 pandemic amidst the depleting foreign currency reserves.

He also said that the government should also revise environment policy like allowing the excavation of construction materials from the rivers as the multi-year deposition has created challenges to infrastructures like roads and bridges.

President of Confederation of Nepalese Industries, Rajesh Agrawal, said the policy to increase interest rate and reduce demand in the market has severely impacted the business and industries in the country.

President of NADA, Karan Chaudhary, said that the economic slowdown has caused human resource drain in the automobile sector that directly employs 100,000 and indirectly about a million.

"This sector was contributing about 21 per cent before the COVID-19 pandemic but the economic crisis has significantly impacted it," he said while complaining that the government has been conservative in extending policy and economic facilitation to the vehicle assembling industries. 

 Published in The Rising Nepal daily on 16 December 2024.   

Rana calls for greater intra-regional cooperation

Kathmandu, Dec. 15

Past President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), and hospitality entrepreneur, Bhawani Rana, has called the regional business leaders, at the Purvodaya Conference in India, to promote the intra-regional trade in the South Asian region.

"The SAARC (South Asian Association for Regional Cooperation) is the least integrated region in the world that conducts less than 5 per cent of the total trade within the region. Our regional neighbour, ASEAN’s intra-regional trade volume is above 35 per cent while that of European Union is around 60 per cent," read her speech shared with the media.

The 2-day Purvodaya Conference that concluded on Sunday was organised by the Ministry of External Affairs of India, Confederation of Indian Industries and The Energy Forum to discuss the issues of regionalism in our region which is characterised by poor integration and poor cooperation.

Stating that the African Continental Free Trade Area and Southern Common Market in Latin America have better policy arrangements to promote trade and investment within their respective regions, Rana said that now is the time to look at it with a different perspective.

"Trade barriers, inadequate infrastructure, lack of political commitment to finding solutions, restrictive documentation and procedures, poor connectivity, and lack of common will to resolve the issues are the reasons behind the present ‘not-so-well’ climate of cooperation and exchange," she said.

According to her, Nepal can benefit from the other regional mechanisms like the BIMSTEC, Indian Ocean Rim Association and BBIN as well.

She highlighted deep economic relations between Nepal and India, and suggested both the countries to expand connectivity between various cities across the border.

"Enhanced road, rail, and air links between cities such as Biratnagar-Patna, Nepalgunj-Lucknow, and Mahendranagar-Dehradun can create favourable environment for trade and tourism," said Rana.

Purvodaya is one of various initiatives launched by India that aims to promote India's neighbourhood policy through better regional connectivity.

 Published in The Rising Nepal daily on 16 December 2024.   

Peru Food Festival held in Kathmandu

 Kathmandu, Dec. 16

The honorary consulate of Peru in Kathmandu and Embassy of Peru in India which is accredited to Nepal have organised one-day Peru food festival in Kathmandu on Sunday.

The 'Taste of Peru in Kathmandu' event was organised at Mariott Hotel to celebrate the rich culinary heritage of Peru and to promote one of its most iconic creations: the Pisco Sour – a cocktail made with the mix of lime juice, syrup, egg white, angostura bitters and ice cubes.

Honorary Consulate of Peru to Nepal, Sumit Kumar Agrwal, said that Peruvian cuisine is amongst the best in the world. "We have organised this event to pay a tribute to the variety of ingredients, culinary influences during its long history, the talent of their chefs and the passion of their people. I am confident that it has contributed to promoting people to people level connection between the two countries," he said.

The food festival was led by chef Julio Castillo. Businesspeople, political leaders, media persons and people from diplomatic community in Kathmandu attended the event to taste the Peruvian food. Peruvian cultural elements such as costumes were also put on exhibition.

Monica Campos, Deputy Head of Mission of the Embassy of Peru to India concurrent in Nepal, said that the Peru has been chosen as the 'World's leading culinary destination, for the twelfth time while it has been recognized as the 'World's leading cultural destinaion'.

"Peru is a diverse country in terms of cultural and culinary arts," she said.

Nepal and Peru had established diplomatic ties on 28 January 1976. The Embassy of Nepal in Brasilia of Brazil is accredited to Peru.

According to the Ministry of Foreign Affairs (MoFA) of Nepal, as active members of the Non-Aligned Movement and G-77, both countries have been advocating the just causes of the developing countries, while sharing common concerns of being climate change vulnerable and mountainous countries.

The two countries have nominal trade relations with Nepal importing chemicals, pharmaceutical products and fabric and exporting clothing and floor covering textiles to Peru.

 Published in The Rising Nepal daily on 17 December 2024.  

Sagar Dhakal elected SBAN President

Kathmandu, Dec. 7

Sagar Dhakal has been elected as the President of the Stock Brokers Association of Nepal (SBAN). He defeated his rival Rajkumar Timilsina in the election organised on Friday.

Initially, there were expectations that the SBAN presidency would be decided unanimously but disagreements among the candidates resulted in the election being conducted.

Dhakal secured victory by receiving 45 out of 88 votes, narrowly beating Timilsina, who garnered 43 votes.

Likewise, Nitesh Agrawal is elected as the Vice President of SBAN, Bhakti Ram Ghimire as General Secretary, Madan Poudel as Treasurer and Binay Poudel as Secretary.

Bishal Kumar Agrawal, Jelina Kandel, Jayant Srivastava, and Priyanshu Agrawal have been elected as members of the executive committee.

This election happened after the merger of the erstwhile two associations of the security brokers - the Stock Brokers’ Association and the Securities Brokers’ Association.

The merger agreement was signed by Dharma Raj Sapkota, Chairman of the Stock Brokers’ Association, and Sagar Dhakal, Chairman of the Securities Brokers’ Association about three weeks ago. The association retained the name of SBAN following the merger. 

 Published in The Rising Nepal daily on 8 December 2024.  

PM Oli brief President Poudel about his China visit

Kathmandu, Nov. 30

Prime Minister KP Sharma Oli has briefed President Ramchandra Poudel regarding his forthcoming official visit to China. PM Oli is scheduled for an official visit to China from December 2 to 5.

During the meeting at the President’s Office, Sheetal Niwas, President Paudel extended his best wishes to the Prime Minister for the success of the visit. Foreign Minister Dr. Arzu Rana Deuba was also present during the discussions.

Meanwhile, Spokesperson of the Ministry of Foreign Affairs (MoFA), Krishna Prasad Dhakal, informed that substantive and logistic preparations are underway.

According to him, the agenda of the visit includes connectivity, trade, investment, tourism, agriculture, and infrastructure development projects. “I am hopeful that this visit will further expand the scope of development support from China to Nepal,” he said adding that the visit will further solidify the bilateral ties between the two countries. 

 Published in The Rising Nepal daily on 1 December 2024.  

BRI will proceed on mutual agreement: FM Dr. Rana

 Kathmandu, Nov. 30

Foreign Minister Dr. Arzu Rana Deuba of Nepal said that the implementation plan of the China promoted Belt and Road Initiative (BRI) will proceed based on mutual agreement between Nepal and China.

“Nepal had signed the BRI framework agreement in 2017, and discussions are ongoing regarding its implementation plan. Any progress on the BRI would be based on mutual understanding between the two nations and a consensus within Nepal,” she said during a press briefing at the Tribhuvan International Airport upon her return from an official visit to China on Saturday.

She completed a 3-day visit to China which happened at the invitation of her Chinese counterpart Wang Yi. The visit also set grounds for the visit of Prime Minister KP Sharma Oli to China who will embark on a 4-day visit from 2 to 5 November.

According to her, Nepal is currently not in a position to take loans for projects under BRI so discussions with the Chinese government have focused on pursuing grants instead. "The Nepali Congress has already decided formally to advance this project under grant assistance, and this decision is well-known to our coalition partner, the CPN-UML. We are holding discussions to move forward on this basis," said FM Dr. Rana.

Dr. Deuba reiterated the longstanding friendly and close ties between Nepal and China, describing her visit as a continuation of efforts to further strengthen these historic relations. She acknowledged the role of high-level visits in deepening bilateral relations and expanding people-to-people connections.

During her visit, she held cordial bilateral talks with Chinese FM Wang. The discussions covered various aspects of Nepal-China relations, including preparations for an upcoming visit to China by Nepal’s Prime Minister KP Sharma Oli.

“The talks focused on maximising opportunities for mutual benefit, including enhancing trade, investment, cross-border connectivity, and socio-economic partnerships,” she said.

Dr Rana shared Nepal's commitment to centring its ties with China on these areas, to which Minister Wang Yi reportedly expressed a positive response, the Ministry of Foreign Affairs (MoFA) of Nepal said in  a statement.

She also underlined the importance of multi-faceted cooperation between the two nations, noting that discussions had touched upon political, economic, cultural, and tourism-related topics, alongside trade, investment, and air connectivity.

According to Dr. Rana reported that both sides agreed to expedite the implementation of agreements and understandings reached during past high-level visits. She expressed confidence that her visit had played a vital role in building mutual trust and further deepening the historic ties between Nepal and China.

The Foreign Minister returned to Nepal on Saturday from Chengdu, Sichuan Province, where she had held bilateral meeting with Chinese FM Wang on Friday.

 Published in The Rising Nepal daily on 1 December 2024.  

TRN, country’s first broadsheet English daily, turns 60

Kathmandu, Dec. 15

The Rising Nepal (TRN), the first broadsheet English daily published from Nepal by the Gorkhapatra Corporation, has met the milestone of six decades in publication as it is turning 60 on Monday, December 16. 

It is also the longest-running English daily in the country although it was the third English newspaper following ‘Motherland’ and 'The Commoner', both published in tabloid size.

The state-owned newspaper was launched by the then King Mahendra in 1965 (1 Poush 2022 BS) with the aim of catering to the need of English readers within the country and inform foreigners about Nepal and its culture. 

The government also needed The Rising Nepal in broadsheet format as it had to reach out to the English newspapers published in India to publish advertisements in English.

Still today, the newspaper is striving to cater to fulfill the information needs of its readers on a national and international scale with the national and public interest at the centre. The first editorial of TRN also mentioned that its objective was to inform the friends of Nepal across the globe about the correct perspective of Nepal and its people.

While the newspaper has not been successful in adopting all of the recent conceptual and technological changes in the print media industry, it still has relevance for all generations of people. "Although the digital media is convenient and handy, there isn't a need to panic about the future of the newspaper industry. This is because TRN is a gateway to get the government and public views without speculation and distortion," said Bijaya Lal Shrestha, former editor of The Rising Nepal.

This newspaper also has a privilege of being the sister publication of Gorkhapatra daily, the first newspaper of the country which is in publication for 124 years. According to former editors, this daily also enjoyed greater editorial freedom compared to its sister publication.

"Fact-based journalism has been the hallmark of TRN although it couldn't have been critical in some of the issues. It is the medium that reported the events in straight-forward manner," said Shrestha.

The restoration of democracy in 1990 paved the way for private media which thrived in the liberal environment while various English and vernacular newspapers attracted the readers with better design and content packaging but this state-owned newspaper retained its traditional design and look which got a facelift just about a decade ago. 

The daily had added four pages and started regular 12-page publication apart from weekly supplement of 4-page every Friday but it shrunk to eight pages in the aftermath of the COVID-19 pandemic. However, the efforts in the last one decade put to revamp the design and content presentation have given a better design and readability with more liberty on using photos and graphics.

Former editor Jagadish Pokhrel, who also led the initiative, said that the aim was to diversify the content of the newspaper to meet the taste of a large variety of audiences.

The Rising Nepal comes with pages for business, op-ed, international news, art and culture, sports, and a 4-page weekly supplement.

Speaking on various occasions planned by TRN, former editors and contributors have suggested the daily to run in the model of the British Broadcasting Corporation.

Shrestha suggested that the Gorkhapatra management should consider its publications as the main pillars of the organization, not just like some other departments. 

 Published in The Rising Nepal daily on 16 December 2024.  

Nepal hosts ADR conference

 Kathmandu, Dec. 13

Nepal has hosted a conference on the resolution of industry, commerce, contractual, and civil disputes for the first time.

The event, inaugurated by Prime Minister KP Sharma Oli in Lalitpur on Thursday, aims to promote mediation and reconciliation as effective methods for resolving disputes.

Experts, institutions, and business leaders from various countries are participating in the 4-day international conference held under the theme of 'Modernising Dispute Resolution: The Role of ADR in Enhancing Access to Justice', informed Nepal International ADR (Alternative Dispute Resolution) Centre, organiser of the event.

Senior advocate Matrika Prasad Niraula, Secretary-General of the ADR Centre, said that representatives from 17 countries, including Nepal, Japan, Switzerland, Australia, Hong Kong, Malaysia, Indonesia, Singapore, India, Pakistan, Bangladesh, Bhutan, Sri Lanka, the United Kingdom, New Zealand, China, and the United States, are attending the event.

The conference will deliberate on topics like contractual disputes, investment-related conflicts, development and construction issues, the United Nation’s model laws, and the judiciary’s role in mediation and reconciliation.

According to the organiser, the event marks a significant milestone for Nepal’s ambitions in the global dispute resolution arena while also linking the importance of sustainable practices with legal innovation.

 Published in The Rising Nepal daily on 14 December 2024.  

Dr. Rana, Quintin hold meeting

 Kathmandu, Dec. 13

Nepal’s Foreign Minister, Dr. Arzu Rana Deuba, met with Belgian Foreign Minister Bernard Quintin in Brussels on Friday.

The discussions between the two were focused on Nepal-Belgium relations, mutual interests, and potential areas of future cooperation, both ministers emphasised strengthening ties between the two nations, the Ministry of Foreign Affairs (MoFA) informed in a statement on Friday.

FM Dr. Rana informed FM Quintin of Nepal's upcoming graduation from the Least Developed Country (LDC) status to the status of a Developing Country in 2026 and requested Belgium's support in ensuring a smooth and sustainable transition through economic, technical and other forms of assistance.

The MoFA said that the two also discussed enhancing economic partnerships, particularly through investments in priority sectors.

Dr. Rana urged Belgium and the European Union (EU) to support Nepal in advocating for climate justice, noting the significant and unforeseen losses Nepal has faced due to climate change in recent years.

She also sought Belgium’s support for Nepal’s candidacy for a non-permanent seat on the United Nations Security Council and membership in the Human Rights Council.

 Published in The Rising Nepal daily on 14 December 2024.  

Litmus produces Medium Voltage XLPE

 Kathmandu, Dec. 13

Litmus Industries, a manufacturer of cables, wires, and conductors, has become the first company in Nepal to locally produce Medium Voltage XLPE Covered Conductors, it said in a statement on Friday.

The company said with an annual production capacity of 20,000 kilometres, the Industries would address the growing demand of wires, especially in expanding transmission lines in Nepal.  Designed to meet the highest standards of quality and durability, these conductors are certified under EN 50397 and IS 398 – VI.

According to the company, manufactured using advanced German technology, the process includes triple-layer extrusion for enhanced insulation, deep-water curing for superior cross-linking, and rigorous quality testing such as spark testing and anti-tracking testing.

It said that with a range of 11 KV to 33 KV, these state-of-the-art conductors ensure safety by minimising fire risks, particularly in forested areas, and are engineered for environmental resilience. 

 Published in The Rising Nepal daily on 14 December 2024.  

NRNA seeks implementation NRN citizenship

Kathmandu, Dec. 13

The Non-Resident Nepali Association (NRNA), has drawn the government’s attention to the implementation of non-resident Nepali (NRN) citizenship.

The association's President, Dr. Badri KC, submitted a letter of memorandum to Acting Foreign Secretary Amrit Bahadur Rai, highlighting delays in enforcing the provision of NRN citizenship. While the citizenship is issued, there have been denials for constitutional economic, social, and cultural rights to eligible individuals, he said.

"Although NRN citizenship has been issued, its practical use faces legal challenges. The Ministry of Foreign Affairs (MoFA) should facilitate the formulation of necessary laws to address this issue," Dr. KC said to Acting Foreign Secretary, Rai.

In response, Rai acknowledged that the lack of legislation before issuing NRN citizenship has caused complications. "The constitution grants economic, social, and cultural rights, but citizenship was issued without the supporting laws in place. This was indeed a shortcoming. A draft NRN Act is now ready, and further clarity will emerge once it becomes law," he said.

Dr. KC also urged the ministry to address the concerns of People of Nepali Origin (PNO) and review the ban on working in Iraq. According to a statement issued by the NRNA, he pointed out that many Nepalis are employed in Kurdistan, Iraq, but face challenges renewing their passports and accessing consular services because of travel restrictions between Kuwait and Kurdistan.

He suggested allowing them to access services from Nepali embassies in Qatar or the United Arab Emirates (UAE) instead. Acting Secretary Rai assured him that the matter would be reviewed and resolved at the ministerial level.

Likewise, Dr. KC urged for simplifying processes for Nepalis employed, studying, or doing business in Russia by resuming labour approval and renewal services, facilitating the renewal of labour approvals, which were halted post-COVID-19, and amending laws to simplify the issuance of NRN identification cards to long-residing Nepalis in Thailand, Myanmar, Malaysia, Fiji and other countries.

The NRNA has called for revisions in the provisions of NRN Act to identify Nepalis living abroad for more than 183 days, excluding SAARC countries as the NRNs and including students also within this definition.

Dr. KC also requested to establish Nepali embassies in countries with a high concentration of Nepalis. In the countries without embassies, he proposed appointing honourary consuls based on NRNA recommendations. He called for an inter-ministerial workshop to address NRN issues systematically.

The NRNA President said that NRNs with Nepali identity cards faced discriminatory treatment, such as being charged as foreign nationals for domestic air travel. He urged the government to ensure they were treated as Nepali citizens in such cases.

In response, Acting Secretary Rai assured that efforts would be made to address these concerns gradually, in coordination with the relevant ministries.

 Published in The Rising Nepal daily on 14 December 2024.  

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