PUTIN GREETS PM BHATTARAI

PM PUTIN GREETS DR, BHATTARAI
Kathmandu, 3 Sept.: Russian Prime Minister Vladimir Putin has congratulated Prime Minister Dr Baburam Bhattarai on his election to the post of the prime minister.
Issuing a press statement, Putin has said that the friendly relations and bilateral cooperation between the two countries will actively develop in future as well in the interests of the peoples of Russia and Nepal, RSS reports
“Your election to this exalted position is a testimony to the confidence that the people of Nepal have conferred on your leadership. I look forward to closely working with you to further strengthen and deepen the cordial relations that exist between our two friendly countries and to achieve our shared goal of peace and prosperity for our peoples,” her message reads.

“It is my firm conviction that, with your able leadership, the new government of Nepal would be able to adopt a new constitution and fulfill the aspirations of your great nation to carry the peace process forward,” Bangladesh Prime Minister Sheikh Hasina in a message to the new Nepali premier.
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THIRD RANKING ARMY OFFICER LEAVES FOR AUSTRALIA
Kathmandu, 3 Sept.: Nepal Army Chief of General Staff Nepal Bhusan Chand left Friday for Australia where he’ll attend the 24th Annual International Military Operations and Law Conference.
Director General of Military Operations
Maj. Gen. Daman Bahadur Ghale is accompanying Chand.
Altogether 146 army officers from 24 countries are attending the conference.
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NEPALI WOMAN EMPLOYEE OF ISRAELI PM CLAIMS HER TORTURE WAS MEANT TO SAVE MONEY

Kathmandu,3 Sept.: A Nepali woman working in the house of Israeli Prime Minister Benjamin Netanyahu, who grabbed headlines the day before for her complaints against the premier's wife, Sarah Netanyahu, has accused the top lady of harassing and misbehaving with her to save money, The Kathmandu Post reports.

Tara Malla, a Syangja resident, who was looking after the Israeli PM's ailing father-in-law, Shmuel Ben Artzi, 96, told the Post from Jerusalem that the Netanyahu family upped harassment and torture on her of late because she was to receive an extra allowance in the case of Artzi's death while she was still at work. “If the old man, whom I looked after had died with me still at the job, I would have received extra money. I think the family thus wanted to kick me out and started compelling me to do so by resorting to violence,” Malla said.

Following the allegations, the Netanyahus had fired Malla, saying that she was negligent in her care of the old man and that she outwitted the family while extorting money from Artzi.

In a series of interviews to Israeli dailies, Malla on Wednesday rejected the claims and had in turn accused the family of double standards.

Malla had gone to Israel 28 months ago after being promised of a monthly payment of US $800. According to Malla, she was paid much less than what was promised and that she had to be on duty round-the-clock, although she was supposed to work for only eight hours.
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HOME INDIA ATM WITHDRAWAL DROPS AFTER NRB LIMIT

Kathmandu, 3 Sept.: After Nepal Rastra Bank (NRB) reduced the limit for withdrawing Indian currency through debit cards issued by Nepali banks and financial institutions (BFIs), withdrawals from ATM counters in India have dropped, Prithvi Man Shrestha writes in The Kathmandu Post. sharply.

NRB officials said withdrawals had plunged more than 40 percent. Last March, the central bank lowered the withdrawal limit to IRs 10,000 per day and IRs 100,000 per month. Earlier, card holders could withdraw up to IRs 25,000 per day and IRs 200,000 per month.

The central bank’s move sought to discourage the tendency of opening accounts in Nepali banks just to withdraw IC in cash from bordering Indian towns and exchange it in Nepal by charging a high commission.

A senior NRB official said that the move had also discouraged capital flight for purchasing Indian insurance schemes and other purposes as well as cross-border smuggling of goods. Smugglers need IC notes to purchase goods in India as they don’t make payment by letter of credit (LC) like legitimate traders. An NRB investigation had revealed that around Rs 19 billion was withdrawn from Indian ATMs from the accounts of SBI, Everest, Kumari and Nepal Investment Bank (NIBL) in the last fiscal year.

Banks have also reported that there has been a sharp decline in withdrawals in the recent months compared to the past. Everest Bank Limited (EBL),which has a wide network in India for withdrawal of deposits through ATMs due to its alliance with Punjab National Bank, reported a fall of more than 50 percent in withdrawals through ATM counters in India.

EBL Deputy General Manager Hum Nath Gurung said that withdrawals had come down to IRs 25 million from more than Rs 50 million daily. “The earlier trend of massive withdrawals has been reversed,” said Gurung.

NIBL has a similar story to tell. NIBL’s card and remittance department chief Bikash Thapa said that his bank ahd been witnessing a decline in withdrawals through ATMs of more than 70 percent for the last few months after the central bank lowered the withdrawal limit. “Average daily withdrawals through ATMs have come down to IRs 7 million from Rs 20 million in the past,” said Thapa.

According to them, withdrawals from bordering Indian towns were massive in the past and that they had slowed lately. “Withdrawals from bordering areas have been largely controlled,” said Thapa. “It is also due to monitoring by security guards in Indian ATM counters of frequent ATM card users and those using multiple cards.”

NRB is of the view that currency black marketers have been using ATM cards to withdraw IC notes from ATM counters in bordering Indian towns to sell them in the local market at a higher exchange rate.

Police have arrested some persons involved in such practices. For example, police arrested Pradip Rastogi, a 22-year-old resident of Raghunathpur, Birgunj, who made 23 citizenship certificates under different names to withdraw Indian currency from bordering Indian towns.

He was also found to have opened 55 accounts in 11 branches of Nepal SBI Bank. He held 23 cheque books for 23 accounts. However, NIBL chief executive director Prithvi Bahadur Pande said that his bank had been able to control such practices.
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Kathmandu, 3 Sept.: Russian Prime Minister Vladimir Putin has congratulated Prime Minister Dr Baburam Bhattarai on his election to the post of the prime minister.
Issuing a press statement, Putin has said that the friendly relations and bilateral cooperation between the two countries will actively develop in future as well in the interests of the peoples of Russia and Nepal, RSS reports
“Your election to this exalted position is a testimony to the confidence that the people of Nepal have conferred on your leadership. I look forward to closely working with you to further strengthen and deepen the cordial relations that exist between our two friendly countries and to achieve our shared goal of peace and prosperity for our peoples,” her message reads.

“It is my firm conviction that, with your able leadership, the new government of Nepal would be able to adopt a new constitution and fulfill the aspirations of your great nation to carry the peace process forward,” Bangladesh Prime Minister Sheikh Hasina in a message to the new Nepali premier.
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NEPALI WOMAN EMPLOYEE OF ISRAELI CLAIMS HER TUTURE WAS MEANT TO SAVE MONEY

Kathmandu,3 Sept.: A Nepali woman working in the house of Israeli Prime Minister Benjamin Netanyahu, who grabbed headlines the day before for her complaints against the premier's wife, Sarah Netanyahu, has accused the top lady of harassing and misbehaving with her to save money, The Kathmandu Post reports.

Tara Malla, a Syangja resident, who was looking after the Israeli PM's ailing father-in-law, Shmuel Ben Artzi, 96, told the Post from Jerusalem that the Netanyahu family upped harassment and torture on her of late because she was to receive an extra allowance in the case of Artzi's death while she was still at work. “If the old man, whom I looked after had died with me still at the job, I would have received extra money. I think the family thus wanted to kick me out and started compelling me to do so by resorting to violence,” Malla said.

Following the allegations, the Netanyahus had fired Malla, saying that she was negligent in her care of the old man and that she outwitted the family while extorting money from Artzi.

In a series of interviews to Israeli dailies, Malla on Wednesday rejected the claims and had in turn accused the family of double standards.

Malla had gone to Israel 28 months ago after being promised of a monthly payment of US $800. According to Malla, she was paid much less than what was promised and that she had to be on duty round-the-clock, although she was supposed to work for only eight hours.
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INDIA ATM WITHDRAWAL DROPS AFTER NRB LIMIT
Kathmandu, 3 Sept.: After Nepal Rastra Bank (NRB) reduced the limit for withdrawing Indian currency through debit cards issued by Nepali banks and financial institutions (BFIs), withdrawals from ATM counters in India have dropped, Prithvi Man Shrestha writes in The Kathmandu Post. sharply.

NRB officials said withdrawals had plunged more than 40 percent. Last March, the central bank lowered the withdrawal limit to IRs 10,000 per day and IRs 100,000 per month. Earlier, card holders could withdraw up to IRs 25,000 per day and IRs 200,000 per month.

The central bank’s move sought to discourage the tendency of opening accounts in Nepali banks just to withdraw IC in cash from bordering Indian towns and exchange it in Nepal by charging a high commission.

A senior NRB official said that the move had also discouraged capital flight for purchasing Indian insurance schemes and other purposes as well as cross-border smuggling of goods. Smugglers need IC notes to purchase goods in India as they don’t make payment by letter of credit (LC) like legitimate traders. An NRB investigation had revealed that around Rs 19 billion was withdrawn from Indian ATMs from the accounts of SBI, Everest, Kumari and Nepal Investment Bank (NIBL) in the last fiscal year.

Banks have also reported that there has been a sharp decline in withdrawals in the recent months compared to the past. Everest Bank Limited (EBL),which has a wide network in India for withdrawal of deposits through ATMs due to its alliance with Punjab National Bank, reported a fall of more than 50 percent in withdrawals through ATM counters in India.

EBL Deputy General Manager Hum Nath Gurung said that withdrawals had come down to IRs 25 million from more than Rs 50 million daily. “The earlier trend of massive withdrawals has been reversed,” said Gurung.

NIBL has a similar story to tell. NIBL’s card and remittance department chief Bikash Thapa said that his bank ahd been witnessing a decline in withdrawals through ATMs of more than 70 percent for the last few months after the central bank lowered the withdrawal limit. “Average daily withdrawals through ATMs have come down to IRs 7 million from Rs 20 million in the past,” said Thapa.

According to them, withdrawals from bordering Indian towns were massive in the past and that they had slowed lately. “Withdrawals from bordering areas have been largely controlled,” said Thapa. “It is also due to monitoring by security guards in Indian ATM counters of frequent ATM card users and those using multiple cards.”

NRB is of the view that currency black marketers have been using ATM cards to withdraw IC notes from ATM counters in bordering Indian towns to sell them in the local market at a higher exchange rate.

Police have arrested some persons involved in such practices. For example, police arrested Pradip Rastogi, a 22-year-old resident of Raghunathpur, Birgunj, who made 23 citizenship certificates under different names to withdraw Indian currency from bordering Indian towns.

He was also found to have opened 55 accounts in 11 branches of Nepal SBI Bank. He held 23 cheque books for 23 accounts. However, NIBL chief executive director Prithvi Bahadur Pande said that his bank had been able to control such practices.
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DEMAND FOR GARMENTS UP IN EUROPE
Kathmandu, 3 Sept.: Demand of typical hand-woven garment in the European countries has fairly increased among the total export of Nepali ready made garments, The Himalayan Times reports.

A total export of Nepali ready made garments has increased by 11.5 per cent compared to same period last year in the first eleven month of the last fiscal year, according to the Trade and Export Promotion Centre (TEPC). A total of Rs 3.64 billion worth garment was exported during the first eleven month of last fiscal was compared to worth Rs 3.24 billion in the same period a fiscal year ago.

The increased demand of typical Nepali ready made garment with handwork in the European countries has propelled the total exports figure, said president of Garment Association-Nepal Uday Raj Pandey.

Though the export of Nepali garment to US is in the decreasing trend every year, the export to European market is more or less stable, he said, adding that the increase in the demand has compelled the domestic exporters to add value in the products, along with new items within the garment products.

Earlier the country used to export mainly pants, half pants and shirts but now there are more items specially targeting to the ladies, he said. “Now we have demand for more value addition with handworks using more colours, textiles, fusion of colour and designs in the products.”

Value addition has also helped increase demand of Nepali ready made garments that has pushed the total export up. “Another reason behind the increase is price hike of raw materials,” Pandey added.

According to the managing director of Ami Apparels Pvt Ltd Prashant Kumar Pokharel, the cost price of Nepali ready made garment has increased due to the increase in the price of raw materials which is mostly imported from China and India. “Among different raw material, the price of cotton has increased by 25 per cent compared to a year ago, which has increased our cost of production,” he said, adding that the price of raw materials has also increased internationally.

With value addition Nepali products are much more distinct and competitive than the products from china or India, Pandey said. Now, we need industrial security and proper trade facility, he added.

Due to the Surya Nepal garment unit closure, most of the industrialists have started working with small factories by minimising costs and reducing labour to avoid the labour dispute, Pandey said, adding that it has increased the cost of production, though also reduced labour dispute.
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