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Highlights of Monetary Policy 2073/74

Highlights of Monetary Policy of Fiscal Year 2016-17 published by Nepal Ratra Bank (Central Bank of Nepal)
Economic and Monetary Targets
- Monetary Policy for 2016/17 aims at containing annual average CPI Inflation at 7.5 percent and maintaining foreign exchange reserves sufficient to cover the imports of goods and services at least for 8 months. Likewise the monetary policy is geared to facilitating the economic growth rate of 6.5 percent.
- In the line with the above mentioned economic target, the broad money, as an intermediate target of monetary policy, is projected to increase by 17 percent in 2016/17.
- The monetary policy set the target of internal credit growth rate of 25 percent and the private sector credit is projected to grow by 20 percent.

Operating Instruments
- Introduction of IRC (Interest Rate Corridor) – a mechanism that guides short-term market rates and helps keep all interest rates within certain band, reducing interest rate volatility .
- Two weeks repo rate, or policy rate to be fixed by adding 200 basis points, or two percentage points, to weighted average interbank rate of commercial banks of two working days ago.
- Two-week term deposit rate, or floor rate to be fixed by deducting 10 basis points from weighted average interbank rate of commercial banks of two working days ago.
- The existing provision of Mandatory Cash Reserve Ratio remains unchanged.
- The period for calculating Mandatory Cash Reserve has been increased from 1 week to 2 weeks. The daily balances of cash should not be less than 70 percent of required mandatory cash reserve ratio.
- The interest rate in case of refinance of loan to agriculture business including electricity and other productive sectors has been maintained at 4 percent. Whereas refinancing facilities is provided up to the amount equal to export amount at the interest rate of 1 percent for Ostrich farm, Cardamom farming and Bee farming.
- The provision for lending minimum of 20 percent of total credit in case of commercial banks to productive sector remains unchanged. Under this, the minimum lending to agriculture and power sector is required to increase to 15 percent from 12 percent upto Ashadh end 2074.
- The provision for minimum lending to deprived sector remains unchanged at 5 percent of total lending. However commercial banks are required to lend at least 2 percent of total lending for deprived sector through direct funding.
Forex Facilities
- Traders importing goods via third-countries using instrument like draft and telex transfer to be extended foreign exchange facility of upto $50000 for one-time payment.
- Traders buying software from India allowed to acquire one-time letter of credit worth upto $15000 from existing $10000.
- Nepali foreign currency account holders allowed to purchase goods and services worth & 15000 per year from abroad.
Other Highlights
- Loan to value (LTV) ratio for commercial real estate reduced to 50 percent from existing 60 percent for residential housing.
- Ceiling on consortium financing raised to Rs. 1 bn form existing Rs. 500 mn.
- Interest spread for microfinance institution fixed at 7 percent.
- Commercial banks directed to channel 15 percent of total loans towards agriculture and energy sectors from 12 percent.
- Investors interested in building luxury hotels in underdeveloped tourist destinations sucha as Pathibhara, Mai Pokhari, Halesi, Langtang, Swargadwari, Upper Mustang, Gadimai, Janakpurdham, Rara and Khaptad to be provided refinancing facility at 4 percent.
- Commercial Banks directed to bring down portion of institutional deposits to 50 percent of total deposit, from exiting 60 percent.
- BFIs barred from extending over 50 percent of shares’s average final value of last 180 days or current market price of the stock, whichever is lower as margin loan.
- BFIs directed to allocate at least 1 percent of profit to fulfill Corporate Social Responsibility.
- BFIs directed to allocate at least 3 percent of gross staff expenses for training and human resource development.
- Over Rs. 3 million of financial transactions to be conducted through Cheques, previous ceiling stood at Rs. 5 million.
- Microfinance development banks directed to raise minimum paid-up capital to Rs. 600 Million within mid-july ,2018

Businessman Sued Apple for $10bn over Stealing a Smartphone Idea

7:22:00 PM Posted by Mr. Kinar , No comments

A $10bn lawsuit was filed against the iPhone maker, where Thomas Ross claimed that Apple’s mobile devices infringe his 1992 invention of an Electronic Reading Device. Ross admits that he knows he is fighting a goliath, but believes he has a strong case.

Thomas Ross claims that he worked on the invention for more than a year, drawing on his experience as a software consultant. His efforts resulted in 3 hand-sketched technical drawings of the Electronic Reading Device and filing a patent in 1992.

The invention was conceived as a reading and writing device, with a back-lit screen, able to store media on the device and on remote servers. Ross, who now works as a manager at a law firm, filed a patent 4 years before the Palm Pilot launched and 15 years before the first iPhone. The Electronic Reading Device was conceived to allow one to read stories, view images and watch video on a flat touchscreen, having communication functions like a phone and a modem, and would come with rounded edges in various sizes.

Aside from the 3 hand-scribbled images of the Electronic Reading Device, the inventor also created a flowchart illustrating how media could be requested and downloaded from a remote server along with a description of the purpose, look and feel of the device. However, that invention has never been taken further than the design stage due to the lack of funds. Back in 1992, the inventor failed to pay the required fees and had his patent application declared abandoned 3 years later by the US Patent and Trademark Office. Instead of using patent law, he now sues Apple with copyright law.

A year ago, Ross’s lawyer sent a cease and desist letter to Apple, requesting them to stop distributing the infringing products. Apple responded that the claims “have no merit” and pointed out that Ross was not able to show any evidence that Apple had accessed the patent applications. However, this response didn’t deter Ross, who filed the lawsuit with the US district court, seeking $10bn in damages and demanding Apple to forfeit the patents derived from his designs.

Industry experts call it just a nuisance case filed by an individual hoping to make some money out of it, who doesn’t even have a US patent and just pulled a $10bn number out of nowhere.

How to stop snoring: 7 tips to help you or your partner, recommended by health experts

8:19:00 AM Posted by Mr. Kinar No comments

Being overweight by just a few kilograms can lead to snoring. Fatty tissue around your neck squeezes the airway and prevents air from flowing in and out freely. These are way to stop snoring .

1. Maintain a healthy weight and diet

Maintaining a healthy weight can help alleviate snoring

2. Try to sleep on your side

Try to sleep on your side rather than your back. While sleeping on your back, your tongue, chin and any excess fatty tissue under your chin can relax and squash your airway. Sleeping on your side prevents this.
Is your partner snoring? Try rolling them over on to their side

3. Avoid alcohol before going to bed

Avoid alcohol before going to bed. Alcohol causes the muscles to relax more than usual during a normal night's sleep. This added relaxation of the muscles makes the back of the throat collapse more readily, which then causes snoring.
This man will be snoring in an hour

4. Quit or cut down on smoking

Quit or cut down on smoking. Cigarette smoke irritates the lining of the nasal cavity and throat, causing swelling and catarrh. If the nasal passages become congested, it's difficult to breathe through your nose because the airflow is decreased.
GettyA woman smoking
Cut this out and your partner might get some more sleep...

5. Keep your nasal passages clear

Keep your nasal passages clear, so that you breathe in through your nose rather than your mouth. If an allergy is blocking your nose, try antihistamine tablets or a nasal spray.
GettyHay fever
And if you have hayfever, it's probably not a good idea to sit in a meadow...
Ask your pharmacist for advice, or see your GP, if you're affected by an allergy or any other condition that affects your nose or breathing, such as sinusitis.

6. Try an over-the-counter remedy

The British Snoring & Sleep Apnoea Association website has details of a variety of treatments you can try at home, including pillows, Snore Calm products, mouth-guards, nasal strips and dilators, as well as mouth-breathing devices.
GettySnoring husband with his wife holding his nose
Before you resort to this...

7. Visit your GP

If your snoring persists, it might be necessary to seek medical help. For some cases of snoring, surgery to fix structural problems in the airways, such as enlarged adenoids, is necessary
If your snoring is caused by looseness in your soft palate (the soft upper part at the back of the mouth), a technique called radiofrequency ablation, which uses heat energy to tighten the palate, may help.
Some people may need to seek medical advice if they can't alleviate the issue another way

Need a good night's sleep? Try these food before bed

7:40:00 AM Posted by Mr. Kinar , No comments

1. Bacon cheeseburger

It's probably no surprise how wolfing one of these down - however delicious - negatively impacts sleep. After all, it's never been exactly championed as a health food.
The fat contained in a bacon cheeseburger stimulates acid production in the stomach.
GettyMan biting into big bacon cheeseburger
You're potentially in for a long night if you have one of these for your dinner
This, in turn, can spill in to the oesophagus, leading to heartburn, which is guaranteed to keep you awake.
Foods high in fat such as a cheeseburger also loosen the barrier between the stomach and the oesophagus, which means that same acid can leak into places where it shouldn't be.

2. Alcohol

Forget the term 'nightcap', according to the site, having a couple of drinks to unwind before bed time is bad news for having a decent sleep.
GettyWoman drinking a glass of red wine
The term 'night-cap' can be misleading
This is because alcohol metabolises rapidly in our systems - which is why you may find you wake up several times during the night after a few drinks. Not only this, but it also damages the 'quality' of sleep you're getting
Alcohol also amplifies and strengthens any snoring. So if you share a bed, that's somehting to consider too.

3. Dark chocolate

Bad news for chocoholics or those with a sweet tooth . While dark chocolate is often touted as a healthier alternative to other chocolatey treats, it's not a perfect substitute.
Dark chocolate unfortunately contains caffeine, with Health pointing out how a Hershey’s special-dark bar has 20 milligrams of caffeine.
GettyDark chocolate squares
Ditch the after dinner chocolate maybe
This amounts to half an ounce of espresso. The stimulant theobromine found in chocolate also increases the heart rate and causes restlessness.

4. Curry

There's nothing like a takeaway curry sometimes. But the spices making up some of our favourite dishes may lead to a lack of sleep.
According to Health, "One study conducted in Australia found that young men who poured Tabasco sauce and mustard on their dinner had more trouble falling asleep and experienced less deep sleep than men who ate blander suppers. Spices can also cause heartburn".
A lot of enjoyable dishes, treat or drinks ave been cited as being bad for our sleep

5. Meat (protein)

This even applies to chicken, sadly (although turkey contains tryptophan, a chemical which can aid nodding off).
Any type of protein can place a burden on our digestive system, which should slow to 50 per cent while we're asleep.
So rather than focusing on sleeping, the body is now channelling its efforts into digestion.
GettyMilk, cherries and sweet potato's
Some sleep-friendly food items

Apple announces the latest emojis that will soon be all over your iPhone messages

2:20:00 AM Posted by Mr. Kinar , , No comments
Apple's latest software update, iOS 10 , spells good news for all emoji lovers.
When the software update is rolled out later this year, users will not only have access to third party emoji apps, but also Apple's very own sticker collection.
Accessed via the iMessage app, people on the iOS 10 Beta version, have been given a sneak preview of 4 new emoji packs.
Included in the update are "three-dimensional smileys", which sees the much loved 'Heart Eyes Emoji' turn into a larger than life 3D character.
iTunesThese new emojis will soon be on your iPhone ios10
The 'Smiling Face With Sunglasses' and 'Face With Heart-Shaped Eyes' have been given a 3D make-over
iTunesThese new emojis will soon be on your iPhone ios10
Whatever your mood you'll be sure to find the right heart emoji to match it
A whole sticker pack has been dedicated to "heart animations", which float, fly and break.
The "hand signs" sticker pack, is a more realistic take on the original hand gesture emojis. Apple have turned them 3D, opting for a grey-scale colour scheme.

Source : Mirror