Ncell contributed $692 million to Nepal’s GDP in 2017: Axiata

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Kathmandu, May 14

Axiata – the parent company of Ncell – has claimed that Ncell contributed $692 million to the gross domestic product (GDP) of Nepal in 2017.

Releasing its annual report recently, Axiata informed that Ncell’s estimated contribution to Nepal’s economy last year stood at $692 million, including operating expenditure of $208 million and capital investment of $96 million.

“The total estimated GDP contribution includes the company’s direct operation of $373 million, indirect contribution of $132 million through procurement from local suppliers, $76 million generated by Ncell’s capital investment and productivity gains of $110 million through increase in mobile penetration rate in 2017,” states the Axiata’s report.

Similarly, Ncell paid $277 million in the taxes to the government in 2017, according to Sustainability and National Contribution Report 2017 published by Axiata. The amount is 4.5 per cent of the total taxes collected by the government during the year, Axiata has claimed.

As per Axiata’s report, Ncell has been contributing to the government treasury in the forms of licence fees, telephone service tax, ownership tax, value added tax, income tax, royalty, frequency fees and Rural Telecommunication Development Fund (RTDF) fees.

Ncell saw its customers’ base rise by 10 per cent to 16.4 million in 2017 from 14.9 million in 2016. It had recorded revenue of Rs 58.1 billion despite international long distance (ILD) income declining by 19.6 per cent.

Meanwhile, other telecom companies, including the state-owned Nepal Telecom (NT), have not been calculating their contribution to Nepal’s GDP though they claim that they are contributing billions of rupees to the government’s coffers through various taxes.

Moreover, the actual contribution of telecom sector to the national GDP also remains unclear.

“We have been carrying out a study to calculate the contribution of telecommunications sector to Nepal’s entire economy,” informed Min Prasad Aryal, spokesperson for Nepal Telecommunications Authority – the telecom sector regulator of the country.

According to NTA, the telecommunications sector is generating almost Rs 45 billion in revenue for the government annually through various taxes, including value added tax (VAT), telecom service charge (TSC), royalty and RTDF fees, among others.

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Written by Sandeep This news first appeared on https://thehimalayantimes.com/business/ncell-contributed-692-million-to-nepals-gross-domestic-product-in-2017-axiata/ under the title “Ncell contributed $692 million to Nepal’s GDP in 2017: Axiata”. Bolchha Nepal is not responsible or affiliated towards the opinion expressed in this news article.

Citizens’ branches

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KATHMANDU: As per its slogan ‘Your partner for progress’, Citizens Bank International CEO Rajan Singh Bhandari carried out remote inauguration of six branches of the bank from the bank’s central office in Narayanhiti Path.

The newly opened branches are located at Mangsebung in Ilam, Likhu Pike in Solukhumbu, Sunapati in Ramechhap, Timal in Kavre, Hariharpur Gadhi in Sindhuli, and Khalsa Chhintang Sahidbhumi in Dhankuta, as per a media release.

The bank has been expanding its branches in remote area as per the central bank’s recent directive.

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Written by Sandeep This news first appeared on https://thehimalayantimes.com/business/citizens-branches/ under the title “Citizens’ branches”. Bolchha Nepal is not responsible or affiliated towards the opinion expressed in this news article.

Govt urged to be more realistic in allocation of fiscal budget

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Kathmandu, May 14

The government has been suggested to be more realistic during budget allocation to end the perennial problem of low capital spending.

Speaking at a pre-budget discussion programme organised by Nepal Economic Association (NEA), economist professor Madan Kumar Dahal said the budget must be balanced. “When the government collects revenue, it must mobilise that resource through execution of development projects for effective redistribution of taxpayers’ money.”

Dahal highlighted the need for target-based incentives for effective execution of development projects, ensure quality of works, and control red tapes. The budget of next fiscal should primarily address the agriculture sector through irrigation, extension service, cold stores, subsidised credit and the access roads. Meanwhile, export incentive should be given to boost export by lowering the high cost of operating industries and businesses, among others, he said.

Shekhar Golchha, senior vice president of Federation of Nepalese Chambers of Commerce and Industry (FNCCI), stressed on lowering the cost of doing business to attract investment. “There is need of fresh investment to address the major constraint of low productivity.”

He said the government, through fiscal budget, needs to initiate the groundwork to attract investment. Golchha underscored the need of policy consistency; lack of bureaucratic hassles; early endorsement of the Foreign Investment and Technology Transfer Bill; investor-friendly tax policies to lure investment.

Nepal’s overdependence on remittance has discouraged industrial investment as the government had not faced balance of payment crisis along with rise in flow of remittances. Without creating enabling environment for industries, Nepal cannot achieve its target of achieving higher and sustained growth, he said.

Golchha also spoke on some laws that are discouraging private investment.

“There are 14 agencies authorised to conduct market monitoring, which has been utilised as a tool to fulfil interest of political leadership and bureaucrats,” said Golccha. “The market must be monitored to establish fair practices, but private businesses should not be intimidated through rights extended by laws.”

Khim Lal Devkota, an expert on fiscal federalism, said that the spending capacity of sub-national governments is also considered as a major challenge in the federal system. He opined that along with the funds, the sub-national governments also need to be equipped with good human resources to deliver the results. Reportedly, the local governments have yet to mobilise Rs 124 billion out of Rs 225 billion grant transferred to them.

Ram Sharan Kharel, advisor to finance minister, said the finance minister will try his best to address the challenges identified by the whitepaper through the fiscal budget 2018-19. “Reflections of the whitepaper are the guiding principles for the budget.”

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Written by Sandeep This news first appeared on https://thehimalayantimes.com/business/government-urged-to-be-more-realistic-in-allocation-of-fiscal-budget/ under the title “Govt urged to be more realistic in allocation of fiscal budget”. Bolchha Nepal is not responsible or affiliated towards the opinion expressed in this news article.

Mancini handed daunting task of rebuilding Italy

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Former Inter Milan and Manchester City coach Roberto Mancini was given the daunting task of rebuilding Italy’s national side on Monday following their astonishing failure to qualify for the World Cup.

Mancini, as had been widely predicted, was named as the new national team coach to replace the hapless Gian Piero Ventura, sacked in November after Italy missed out on the World Cup for the first time since 1958.

The 53-year-old will begin the job – which had previously been turned down by former Paris St Germain, Real Madrid and Bayern Munich coach Carlo Ancelotti – in the unlikely setting of a friendly against Saudi Arabia in Switzerland on May 28.

The FIGC said it had “concluded an agreement with Roberto Mancini who will hold the position of coach of the national team.”

It did not give any further details other than to say he would be officially presented on Tuesday at the team’s training base in Florence.

Four-times world champions Italy are at an all time low of 20th in the FIFA rankings after losing to 1-0 on aggregate to Sweden in a playoff for a place in Russia.

They were eliminated in the group stage at the 2010 and 2014 World Cups, although they have done better at the European Championship, reaching the final in 2012 and the quarter-finals in 2016.

One of Mancini’s first decisions will be whether to recall maverick striker Mario Balotelli, who he often clashed with when the pair were at Manchester City. Balotelli has not been called up by Italy since the 2014 World Cup.

Mancini, a gifted forward in his playing days, won a surprisingly modest 36 caps for Italy and never played at a World Cup, although he was an unused member of the 1990 squad.

He began his coaching career with Fiorentina in 2001 and won the Coppa Italia in his first season even though the club was plagued by financial problems.

He then moved to Lazio but had his biggest success at Inter Milan where he won three successive Serie A titles.

That was followed by a stint at big-spending Manchester City where he won one English Premier League and one FA Cup title in four seasons.

Since then, he has coached at Galatasaray, had another less successful spell at Inter and finally a season at Zenit.

At one point, he criticised predecessor Antonio Conte for calling up naturalised players such as Brazilian-born Eder and Argentine-born Franco Vazquez

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Written by Siddhartha Pokharel This news first appeared on https://thehimalayantimes.com/sports/mancini-handed-daunting-task-of-rebuilding-italy/ under the title “Mancini handed daunting task of rebuilding Italy”. Bolchha Nepal is not responsible or affiliated towards the opinion expressed in this news article.

PSG hire Thomas Tuchel as the new coach

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PARIS: Paris Saint-Germain hired former Borussia Dortmund coach Thomas Tuchel on Monday, a day after the outgoing Unai Emery was voted coach of the year in the French league.

Tuchel signed a two-year contract with the French champion, starting in July. Financial terms were not disclosed.

“It is with much joy, pride and ambition that I am joining this big club,” Tuchel said. “I can’t wait to start working with all these great players who are all among the best in the world.”

A strong disciplinarian, he could end up being an excellent choice for PSG, a club where star players have often enjoyed too many privileges in the past.

Praised for his attractive style of attacking play and fine tactics, Tuchel was without a club since he was sacked by Borussia at the end of the 2016-17 season. The 44-year-old Tuchel led Dortmund to the German Cup title in 2017 before getting fired three days later after falling out with club officials over the course of an inconsistent season.

Tuchel, a former Mainz coach who followed in Juergen Klopp’s footsteps by taking over in Dortmund in 2015, led the side to second place in the Bundesliga in his first season, when Dortmund was the best runner-up in the league’s history, and the German Cup final.

“Thomas is one of the best and most competitive European coaches to have emerged over the last few seasons,” PSG president Nasser Al-Khelaifi said. “He abides by very strong principles of playing spectacular and clinical football that has always been the foundation of German football, especially on the international scene.”

Emery, who was named coach of the year after guiding PSG to a domestic treble, will be in charge of his final French league game this weekend at Caen. He was not offered a contract extension after the club once again fell short in Europe, going out in the last 16 of the Champions League for the second straight season. He has been without the injured Neymar since February.

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Written by Siddhartha Pokharel This news first appeared on https://thehimalayantimes.com/sports/psg-hire-thomas-tuchel-as-the-new-coach/ under the title “PSG hire Thomas Tuchel as the new coach”. Bolchha Nepal is not responsible or affiliated towards the opinion expressed in this news article.

Pulsar Sports Award nominees announced

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Pulsar Sports Award nominees announced

Kathmandu, May 14

Leg spinner Sandeep Lamichhane, who was nominated in People’s Choice, made it to three when he was picked up in male and youth categories of the NSJF Pulsar Sports Award slated for May 17 at the Army Officers Club.

The selection committee of Nepal Sports Journalists Forum unveiled the nominees of male, female, youth and coach categories at a press meet today. Lamichhane along with national cricket team skipper Paras Khadka, badminton player Dipesh Dhami, judoka Indra Bahadur Shrestha and golfer Tank Bahadur Karki were nominated in the male category.

Lamichhane, who was member of Nepali national cricket team that earned the One Day International status for the first time, caught international attention when he was picked up by Delhi Daredevils for this year’s Indian Premier League for Rs 3.2 million.

Khadka led national team to the ODI status for the first time. He scored one each century and half century in ICC World Cricket League Division-II and scored 231 runs in the ICC World Cup Qualifiers held in Zimbabwe. In domestic cricket, Khadka won Dhangadhi Premier League with Team Chauraha Dhangadhi and Everest Premier League title for Biratnagar Warriors.

Shuttler Dhami teamed up with Shova Gauchan to win the mixed doubles title of the Yonex Sunrise Pakistan International Series and they finished runners-up in the Yonex Sunrise Nepal International Series. Dhami was the lone Nepali player to reach the men’s singles quarter-finals of the Nepal International Series.

Judoka Shrestha won gold medals in the Thailand International Judo Championship and BKSP Judo Championship in Bangladesh and also bagged gold medals in NSC Championship and Ambika Chhetri Memorial Judo Championship. Shrestha was named best players in both NSC Championship and Ambika Chhetri Memorial Championship.

Golfer Karki won gold medals in individual and team event of the Bhutan Open. He also claimed gold medals in individual and team event of the Nepal Open Amateur Golf Championship as well as of NSC Championship. Karki claimed three titles in the Surya Nepal Golf Tour.

Similarly, boxer Bimala Shrestha, shuttler Shova Guachan, archer Gyanu Awale, footballer Sabitra Bhandari and table tennis player Nabita Shrestha were nominated in women’s category.

Boxer Shrestha bagged 54kg weight category bronze medal in the Indian Open Boxing Championship and won gold medals in NSC Championship and Ganeshman Memorial Boxing Tournament. She also finished first in Asian Games selection event.

Shuttler Guachan, who teamed up with Dipesh Dhami, won mixed doubles title of the Yonex Sunrise Pakistan International Series and finished runners-up in the mixed doubles category of the Yonex Sunrise Nepal International Series.

Archer Awale, who set national records for three occasions, won recurve mixed team event bronze medal of the South Asian Archery Championship in Bangladesh along with Tilak Pun Magar. She also bagged gold medal in Laxman Shrestha Memorial Indoor Championship and claimed silver in NSC Championship.

Football striker Bhandari scored a goal against Malaysia in friendly match and helped Nepal APF Club win the CoAS Cup title scoring 28 goals in five matches that included 12 goals against Mid-western Region. Bhandari also shone in the Maldives Futsal League. Table tennis player Shrestha won the National Table Tennis title for the record seventh time and bagged five gold medals, including three in individual events.

Lamichhane was nominated in youth category along with fellow another cricketer Dipendra Singh Airee, footballer Dinesh Henjan, judoka Manita Shrestha Pradhan and boxer Poonam Rawal. Airee was the skipper of Nepali team that earned semi-finals berth in the ACC U-19 Asia Cup for the first time. Airee scored 88 runs and claimed four wickets in Nepal’s historic win over India. He also an important member of the team that earned ODI status. He bagged four wickets and scored half century against Papua New Guinea in vital match of the ICC World Cup Qualifiers.

Footballer Henjan helped Nepal win SAFF U-18 Championship in Bhutan as he scored both goals against India in the final match. He was the member of Tribhuvan Army Club who win six titles in the season.

Judoka Pradhan bagged bronze in women’s 57kg weight category event of 11th Asian Junior Judo Championship and claim gold in BKSP Cup Judo Championship in Bangladesh. She also won gold medals and was named the best player in NSC Championship and Ambika Chhetri Memorial Championship.

Boxer Rawal claimed bronze in women’s 64kg section of the Indian Open Boxing Championship, while she won gold medals in NSC Championship and Ganeshman Memorial Boxing Tournament. She also became first in Asian Games selection event.

Likewise, cricket coaches Jagat Tamatta and Binod Das along with football’s Chhiring Lopsang Gurung, boxing’s Prakash Thapa Magar and badminton’s Jayant Kumar Shrestha were nominated in coach category.

Tamatta guided Nepal to ODI status for the first time as Nepal finished eighth in the ICC World Cup Qualifiers. He also guided Nepal to runners-up finish in the ICC World Cricket League Division-II. Das was the coach of the youth team that entered the semi-finals of ACC U-19 Asia Cup where Nepal registered their first-ever victory over India at any level. Das also helped Nepal win ACC U-19 Eastern Regional event.

Gurung was the coach of Nepali football team that won the SAFF U-18 Championship in Bhutan. He also helped Laxmi Hundai Manang Marshyangdi Club win Duhabi Gold Cup. Thapa Magar was the coach of Nepali team in the Indian Open Boxing Championship. He was also the chief coach of team that represented Nepal in the Asian Men’s and Women’s Boxing Championship.

Badminton coach Shrestha helped Nepal win one each gold, silver and bronze medals in the Yonex Sunrise Pakistan International Series as well as one each silver and bronze medals in Yonex Sunrise Nepal Series. Out of the eight categories of the Sports Award, NSJF has already named the nominees of people’s choice category, while the winners of Para-athlete, Special and Lifetime Achievement categories will be announced during the ceremony.

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Written by Sandeep This news first appeared on https://thehimalayantimes.com/sports/pulsar-sports-award-nominees-announced/ under the title “Pulsar Sports Award nominees announced”. Bolchha Nepal is not responsible or affiliated towards the opinion expressed in this news article.

Maharjan, Khadgi honoured

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Maharjan, Khadgi honoured

athletes honouredKATHMANDU: Thapathali Janakalyan Pariwar here on Monday felicitated national football team skipper Biraj Maharjan and taekwondo player Melisha Khadgi.

Pariwar honoured Maharjan and Khadgi with Rs 10,000 each for their contribution in Nepali sports during its 29th anniversary.

Kathmandu Metropolitan City Mayor Bidya Sundar Shakya and Deputy Mayor Hariprabha Khadgi Shrestha handed over the letter of appreciation and cash to the players.

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Written by Sandeep This news first appeared on https://thehimalayantimes.com/sports/biraj-maharjan-melisha-khadgi-honoured/ under the title “Maharjan, Khadgi honoured”. Bolchha Nepal is not responsible or affiliated towards the opinion expressed in this news article.

Three Star advance

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GAIGHAT: Ruslan Three Star Club thrashed Morang-XI 4-1 and advanced to the semi-finals of the fifth Rumpum Udaypur Gold Cup Football Tournament here at the Tharuhat Stadium on Monday.

Ajayi Martins scored a brace, while Ananta Tamang and Rupesh KC scored a goal each for Three Star. Aambala replied one for Morang. Three Star’s Martins opened the scoring in the 32nd minute before Aambala levelled the tally in the 52nd minute.

However, Martins restored the lead in the 58th minute. KC added one in the 85th minute and Tamang made it 4-1 two minutes later for the Three Star.

Martins was named the man-of-the-match and he got Rs 7,000. On Tuesday, Nepal Police Club will take on Sunsari-XI.

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Written by Sandeep This news first appeared on https://thehimalayantimes.com/sports/three-star-advance-udaypur-gold-cup-football-tournament/ under the title “Three Star advance”. Bolchha Nepal is not responsible or affiliated towards the opinion expressed in this news article.

NHL playoffs 2018: Tomas Tatar makes most of opportunity in Golden Knights’ Game 2 win

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Tomas Tatar made his first appearance since May 2 in Game 2 and scored a goal in the Golden Knights’ 3-1 win over the Winnipeg Jets.

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NHL playoffs 2018: Tomas Tatar makes most of opportunity in Golden Knights’ Game 2 win
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Steve Kerr says Kevin Durant is ‘the ultimate luxury’ after Game 1 win over Rockets

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Durant tallied 37 points to lead Golden State to a 119-106 win Monday night.

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Steve Kerr says Kevin Durant is ‘the ultimate luxury’ after Game 1 win over Rockets
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