The cooperative movement has brought about a sea change in rural economy, said Horst Ammann, Programme Manager, Deutsche Gesellschaft für Technische Zusammenarbeit (GTZ) GmbH-Inclusive Development of the Economy (INCLUDE), one of the lead contributors to the second Microfinance Summit Nepal 2010.
"Cooperatives are doing good at the primary level," he said adding that at the secondary level it has to be reworked with access to finance. Without broad access to finance, inclusive economic growth cannot be achieved," he said.
"Without cooperatives nothing can move in rural areas," Ammann added. "Apart from access to finance, they should be capacitated, supervised and encouraged."
The German agency had also supported the first microfinance summit in 2008 that has proven a successful tool in uniting microfinance stakeholders in Nepal and abroad towards building a strong and inclusive microfinance sector.
His organisation has helped found many cooperatives, helped manage them and also trained small farmers' cooperative system that provides financial and non-financial services. It was GTZ that helped form Small Farmers Development Bank.
Though they are doing good, the movement needs a another look. "An independent federation of cooperatives would make sense," he said adding that the government can play the role of regulator. The government should give them space for their development and not interfere.
However, Ammann was upbeat about the summit. "We are also looking forward to share experiences from GTZ INCLUDE's programme approach in 14 programme districts of Nepal. We will present our lessons learned vis-à-vis a 'business model for value chain finance through cooperatives' as well as 'linking entrepreneurship development with microfinance clients'. We are also looking forward to the input of stakeholders," he added.
He also called for strong and united messages from stakeholders of the microfinance sector. "We are looking forward to answers to open issues like deprived sector lending, how microfinance can contribute to inclusive growth in Nepal, increasing access to financial services in remote areas and to disadvantaged groups, the missing middle, the commercialisation of microfinance institutions and what more roles cooperatives can play."
Philipp Kruschel, Senior Advisor to GTZ INCLUDE, said he was happy to support the summit. "The summit is a unique opportunity to bring together a broad range of microfinance practitioners with representatives of the public sector as well as development partners here and abroad and jointly develop a vision for the future," he said adding that it would be a great chance to discuss the opportunities for and challenges to the microfinance sector in the light of much-needed inclusive economic growth in Nepal.
For inclusive economic growth, education is a must. "The basic concept of cooperatives is to educate," Ammann said adding that people should understand the value of education. "To push for education, the government has to support and protect the movement."
The educated mass can be involved in economic activities and by delivering financial services to people in rural areas the lower income strata can be brought within the ambit of economic activity.
In a similar fashion, inclusive economic growth can only be achieved if the 'missing middle', which neither has access to micro credit nor to services of commercial banks, will not be left out of this process.
Second Microfinance Summit
The second edition of the Microfinance Summit is going to be held on February 14-16 in Kathmandu.
The summit -- with the theme 'Microfinance for Inclusive Economic Growth' -- is aimed at addressing some new issues in the sector that has been identified after the success of Microfinance Summit 2008 and the seventh National Steering Committee meeting held on September 11 2009.
This summit aims to discuss on how to increase funding for the microfinance sector to improve client retention for microfinance services while simultaneously improving the livelihood of existing clients with entrepreneurial skills; how to make microfinance more inclusive towards excluded groups, the formal financial sector, and the macroeconomic framework of Nepal; how to properly govern Microfinance institutions so that they can not only reach their intended target markets in rural areas, but also provide them with sustainable microfinance practices; how to eradicate the burdens of poverty such as a lack of access to healthcare and education through the incorporation of savings and insurance schemes with microfinance practices; and how to improve credit schemes and creating a model for value chain finance in microfinance in cooperation with commercial banks so as to improve the sustainability of the microfinance sector.
The goal of the Microfinance Summit Nepal 2010 is to unite microfinance stakeholders in Nepal and ensure microfinance for inclusive economic growth. It also aims to improve and increase outreach to all households in need of microfinance services with the development of a joint microfinance strategy and action plan.
The second summit also aims to facilitate a broad dialogue among all stakeholders involved in the field of microfinance: policymakers and regulators, public institutions concerned with the microfinance sector -- including government-owned banks, microfinance practitioners, commercial banks and interested financial sector institutions -- including insurance agencies, remittance service providers, technical support providers and training institutes, and international donors.
It aims at discussing the issues for further development of the sector and to develop strategies to overcome any shortcomings; share information on current microfinance practices in Nepal and provide participants with up-to-date information on experimental trends and innovations -- both technical and strategic -- in the national and international microfinance sector; encourage policymakers to adopt recommended policies in order to improve the effectiveness of the microfinance sector in the national development strategy; showcase the achievements of Nepal's microfinance sector and the commitment of its stakeholders through a presentation of the results of the summit at the Global Micro-credit forum.
Microfinance has been one of the effective tools for poverty reduction in the developing countries. Despite ongoing development efforts, poverty remains rampant in Nepal with approximately 31 per cent of the population living below the poverty line. The incidence of poverty is highest in remote and rural areas. Through the creation of sound microfinance institutions and systems, poor people can safely deposit money and accumulate funds for future investments or emergencies as well as access loans for productive purposes leading to higher incomes.
Microfinance also produces an impact in other areas including good governance, participation in the political processes, women empowerment, social inclusion, and conflict transformation.
Currently, more than 1.6 million individuals in the rural population have access to microfinance services. This figure represents approximately eight per cent of the population and approximately 26 per cent of the people living below the poverty line.
However, the outreach of sustainable and sound microfinance institutions to the rural and urban poor must be increased to obtain more effective statistics and further diminish poverty.
The Microfinance Summit Nepal 2010 will attempt to address the broader theme by focusing on Value Chain Finance, innovative products and services, clients and protection, sources of fund and competitiveness.
Thus, the summit is expected to bring a series of outcomes. The first outcome will be that stakeholders shall see themselves as an integral part of the microfinance movement in Nepal. Despite the fact that some of the institutions involved will attempt to operate with a competitive mindset, all stakeholders shall recognize the need to coordinate with each other for the greater good of developing the microfinance sector. The second outcome is that stakeholders can plan and implement their strategies and activities based on an improved knowledge of the status of microfinance in Nepal and worldwide. This means that institutional development plans of the individual stakeholders will be based on a sound understanding of their own strengths and weaknesses in addition to any opportunities and threats present in Nepal’s microfinance market.The third outcome is that policymakers and regulators will have a much better understanding of what the sector further needs to grow and provide information regarding the international practices in microfinance regulation. This enables them to make informed decisions and develop strategies and policies which are understood and supported by microfinance practitioners. In addition, the event creates mutual trust between the public and the private sector by openly showing each other’s capabilities and limitations.The fourth outcome is the product diversification of microfinance in Nepal such as clean and green finance, remittances, education, health insurance, value chain, and savings and credit schemes.The fifth outcome is an increased awareness in Nepal and elsewhere regarding the efforts all stakeholders are making to improve the living conditions of the poor in Nepal. A showcase of the product diversification of microfinance has the intention of not only raising awareness, but also of depicting the potentials that lie within microfinance. This should manifest itself in an increase in sources of funding available for microfinance development and support for inclusive economic growth.The final outcome that is expected from the Summit is the protection of microfinance clientele. The practice of client duplication not only provides inaccurate statistics regarding the range of the microfinance sector, but also increases the chances of loan defaults and the disruption of the client's way of life. Through efforts to increase the entrepreneurial skills of clients, it is hoped that they will be able to use their loans effectively and reduce the incentive to accept loans from other microfinance institutions.
The impact would result in the emergence of sounder microfinance institutions and networks, and a stronger microfinance support structures through updating national microfinance strategies to match international standards and procedures aimed at increasing the capacity for inclusive economic growth; broader support for microfinance saving schemes from the financial sector, private sector, and the international community; and creation of a framework structured at not only providing legal recognition towards community based projects, but also facilitating in the sustainability of microfinance projects. This, in turn, should help Nepal’s poor to gain access to affordable and sustainable micro-financial services.
At the end of the Summit, a joint declaration will be prepared which shall incorporate the suggestions of all participants on how to improve the microfinance sector in Nepal.
The Declaration will provide policymakers with feedback on how microfinance stakeholders envision the future of the sector and could be helpful to the government in preparing strategy papers and policies.
Saturday, February 13, 2010
Friday, February 12, 2010
Nepse lists 95 firms under Class-A category
Five development banks, two insurance companies, 10 finance companies, two hotels, National Hydropower Company and Nepal Telecom (NT) -- a total of 21 listed companies -- made it to the prestigious Class-A category in this fiscal year, according to the Nepal Stock Exchange (Nespe).
"The Nepse has listed 95 companies under Class-A category, out of the total 149-listed companies at the sole secondary market," said the sole secondary market here today.
A company that has atleast Rs 20 million paid up capital, minimum of 1,000 common share holders, operating in profit since last three years, must have floated shares to public under the by-laws 9, book value per share must not be less than its paid up value and has been submitting its financial statement within six months from the closure of the fiscal year is qualified to be listed under the Class-A category, according to the Nepse.
The number of companies listed under Group-A category has been continuously increasing since 1996-97, when there were only seven companies under the category.
"In the year 2009-10, Nepse also delisted three companies from under the Class-A category apart from adding 21 to it," the Nepse said adding that two companies merged to get entry into the prestigious category. "United Insurance, Bhajuratna Finance and Everest Finance are delisted from under the Class-A category as they didnot abide by the regulation," it added. However, Nepse listed five development banks, two insurance companies, 10 finance companies, two hotels, one hydropower company and Nepal Telecom (NT) under the Class-A companies in this fiscal year," said secondary market that has been witnessing a sluggish performance in the last three months.
Nepal Stock Exchange, according to the international norms, classifies the listed companies under the Class-A category according to their performances.
According to the Nepse, 15 commercial banks are under the Class-A category, whereas only one company each -- Unilever Nepal Ltd and Nepal Telecom -- from the manufacturing group and Others group are under the Class-A, two each from hydropower companies group and hotels group, 11 from insurance companies group, 43 finance companies, 20 development banks fall under the Class-A category.
"The Nepse has listed 95 companies under Class-A category, out of the total 149-listed companies at the sole secondary market," said the sole secondary market here today.
A company that has atleast Rs 20 million paid up capital, minimum of 1,000 common share holders, operating in profit since last three years, must have floated shares to public under the by-laws 9, book value per share must not be less than its paid up value and has been submitting its financial statement within six months from the closure of the fiscal year is qualified to be listed under the Class-A category, according to the Nepse.
The number of companies listed under Group-A category has been continuously increasing since 1996-97, when there were only seven companies under the category.
"In the year 2009-10, Nepse also delisted three companies from under the Class-A category apart from adding 21 to it," the Nepse said adding that two companies merged to get entry into the prestigious category. "United Insurance, Bhajuratna Finance and Everest Finance are delisted from under the Class-A category as they didnot abide by the regulation," it added. However, Nepse listed five development banks, two insurance companies, 10 finance companies, two hotels, one hydropower company and Nepal Telecom (NT) under the Class-A companies in this fiscal year," said secondary market that has been witnessing a sluggish performance in the last three months.
Nepal Stock Exchange, according to the international norms, classifies the listed companies under the Class-A category according to their performances.
According to the Nepse, 15 commercial banks are under the Class-A category, whereas only one company each -- Unilever Nepal Ltd and Nepal Telecom -- from the manufacturing group and Others group are under the Class-A, two each from hydropower companies group and hotels group, 11 from insurance companies group, 43 finance companies, 20 development banks fall under the Class-A category.
Thursday, February 11, 2010
Food price hike hits sky
The price of black-gram is up by 44 per cent, wheat flour by 25 per cent, musuro (broken lentil) by 25 per cent and coarse rice by 14 per cent compared to 12 months ago, according to a report that points out national food price inflation as a serious concern.
"Thus it is likely that official year-on-year CPI inflation figures released by the Nepal Rastra Bank could rise again next month," the report predicts. Common cooking oils are the only commodities which have not significantly increased during the past 12 months. The recent harvest of potato has resulted in a significant decrease in potato prices; which are down by around 17 per cent across the country compared to December.
The most recent year-on-year food price inflation figure provided by the Nepal Rastra Bank (NRB) in January was 17.8 per cent -- up by almost two per cent compared to last month, said a report jointly produced by World Food Programme (WFP) - Food Security Monitoring and Analysis Unit, Ministry of Agriculture and Cooperatives - Department of Agriculture, Agribusiness Promotion and Marketing Development Directorate (ABPMDD), Federation of Nepalese Chambers and Commerce and Industry/Agricultural Enterprise Centre and Consumer Interest Protection Forum.
High food prices are driving overall high consumer price inflation, which is currently estimated at 11.3 per cent, the report said.
Over the past month the price of staple grains have remained relatively stable due to the summer crop harvest. However, as the harvest was weak it did not have a major impact on reducing the price of key commodities in most markets (as would normally be expected. "A recent bird flue outbreak in the Pokhara region could have a major impact on poultry trade and prices during the first half of 2010. Previous outbreaks have seriously impaired poultry markets in Nepal," it added.
The price of staple food items generally remained stable across the country. In the markets regularly monitored by WFP and MoAC the average price of coarse rice in December was Rs 32 per kilo (down by three per cent compared to last month) and the national average wheat price was Rs 35 per kilo (up by one per cent compared to last month).
Grain prices are relatively stable due to the recent summer harvest which has helped re-stock local markets. However, the summer harvest was too weak to significantly reduce prices as would normally be expected.
However, the national average price of potato is still Rs 15 per kg higher than last year. An outbreak of bird flu has occurred in Pokhara. A Rapid Response Team (RRT) has been deployed for close surveillance. It has been reported that 10,000 chickens, ducks and other birds in the area could be culled to prevent the spread of the disease. MoAC is also considering to ban transportation of poultry products to and from the affected area. Bird flu that broke out in Eastern Terai earlier caused a steep increase in chicken prices to Rs 280 per kg in Kathmandu. Though the cardamon production in the Eastern districts of Taplejung, Sankhuwasabha etc is reportely down by 30-40 per cent compared to last year, these districts have benefited from increase in its price from about Rs 175 per kg last year to about Rs 400-450 per kg this year.
The price of cooking gas has increased from Rs 1,125 to Rs 1,250 per cylinder, particularly affecting urban households. The price of salt was also increased from Rs 11 to Rs 15 per kg.Generally, supply improved across Nepal during January, the report said. The Karnali highway opened and this improved both supply and prices in feeder markets. The most noticeable improvement was in Jumla where the prices of coarse rice is down by 23 per cent compared to last month.
The recent summer harvest has also increased supply in various markets.
"Thus it is likely that official year-on-year CPI inflation figures released by the Nepal Rastra Bank could rise again next month," the report predicts. Common cooking oils are the only commodities which have not significantly increased during the past 12 months. The recent harvest of potato has resulted in a significant decrease in potato prices; which are down by around 17 per cent across the country compared to December.
The most recent year-on-year food price inflation figure provided by the Nepal Rastra Bank (NRB) in January was 17.8 per cent -- up by almost two per cent compared to last month, said a report jointly produced by World Food Programme (WFP) - Food Security Monitoring and Analysis Unit, Ministry of Agriculture and Cooperatives - Department of Agriculture, Agribusiness Promotion and Marketing Development Directorate (ABPMDD), Federation of Nepalese Chambers and Commerce and Industry/Agricultural Enterprise Centre and Consumer Interest Protection Forum.
High food prices are driving overall high consumer price inflation, which is currently estimated at 11.3 per cent, the report said.
Over the past month the price of staple grains have remained relatively stable due to the summer crop harvest. However, as the harvest was weak it did not have a major impact on reducing the price of key commodities in most markets (as would normally be expected. "A recent bird flue outbreak in the Pokhara region could have a major impact on poultry trade and prices during the first half of 2010. Previous outbreaks have seriously impaired poultry markets in Nepal," it added.
The price of staple food items generally remained stable across the country. In the markets regularly monitored by WFP and MoAC the average price of coarse rice in December was Rs 32 per kilo (down by three per cent compared to last month) and the national average wheat price was Rs 35 per kilo (up by one per cent compared to last month).
Grain prices are relatively stable due to the recent summer harvest which has helped re-stock local markets. However, the summer harvest was too weak to significantly reduce prices as would normally be expected.
However, the national average price of potato is still Rs 15 per kg higher than last year. An outbreak of bird flu has occurred in Pokhara. A Rapid Response Team (RRT) has been deployed for close surveillance. It has been reported that 10,000 chickens, ducks and other birds in the area could be culled to prevent the spread of the disease. MoAC is also considering to ban transportation of poultry products to and from the affected area. Bird flu that broke out in Eastern Terai earlier caused a steep increase in chicken prices to Rs 280 per kg in Kathmandu. Though the cardamon production in the Eastern districts of Taplejung, Sankhuwasabha etc is reportely down by 30-40 per cent compared to last year, these districts have benefited from increase in its price from about Rs 175 per kg last year to about Rs 400-450 per kg this year.
The price of cooking gas has increased from Rs 1,125 to Rs 1,250 per cylinder, particularly affecting urban households. The price of salt was also increased from Rs 11 to Rs 15 per kg.Generally, supply improved across Nepal during January, the report said. The Karnali highway opened and this improved both supply and prices in feeder markets. The most noticeable improvement was in Jumla where the prices of coarse rice is down by 23 per cent compared to last month.
The recent summer harvest has also increased supply in various markets.
Wednesday, February 10, 2010
Book on commodities market
Capital market analyst Rabindra Bhattarai has penned a book on commodities and derivative market.The book -- Commodities and Derivative Jigyasa -- is targeted at people who want to know the commodities market and its function. The book has adopted a question-answer method for better elaboration of the issue.
Commodity and derivative market is not a new thing for Nepal but its organizational trade in the market is a new concept for Nepalis. Three derivative exchanges are operating in Nepal since last two years. They are trading large sums of money and the number of people interested in the market is growing.
As derivative market is a new concept for Nepalis, people don't have sufficient knowledge of the market -- trading procedure, risks and benefits. There are no schools or colleges in Nepal where to study this market.
Stock analyst Bhattrai has written nearly a dozen of books capital and financial market. Bhattrai is planning to write books on insurance which will educate people how to use insurance as investment. Commodities and Derivative Jigyasa is published by Securities Research Center and Services (SRCS), an institution established in 2005 for the research on and development of the capital market in Nepal.
SRCS had organized the first national expo on capital market last month. Around 1,00,000 people visited the expo.
Thursday, February 4, 2010
GBOT to start live exchange in Mauritius from April
The first multi-asset derivatives exchange is going live in Mauritius from April.
The first of its kind of currency and derivatives exchange in this region – Global Board of Trade (GBOT) – plans to offer eight-currency pairs with the dollar as the base – including Kenyan shilling and Ugandan shilling.
Joseph Bosco, deputy managing director and Chief Operating Officer (COO) of GBOT thinks that the region, with all its natural resources and huge potentials, is slowly waking up. “The African region is coming out of its troubled past and realizing its real strength,” he said adding that GBOT offers the region a better platform to exploit its natural resources and commodities like sugar and coffee. “Cocoa and coffee from the African region and Mauritius sugar are the world class,” he added.
It also expects to trade futures contracts in zinc, copper, aluminium, nickel, gold, silver and platinum apart from coffee, sugar and maize as well as crude oil and carbon credits.
The exchange will trade in 14 commodities, such as precious metals, base metals and agricultural commodities and eight dollar-based currency pairs - including the Mauritius rupee, euro, yen and sterling.
A good futures market can also control volatility of currency. “We will offer them the required risk management mechanism to hedge themselves against uncertainty,” Bosco added. “The east African countries like Kenya and Uganda can benefit a lot from it.”
The African continent has lately been on the radar of global powers like China and India. “And Mauritius is the gateway for Africa to the rest of the world,” he said. The Indian Ocean island nation offers every facility for an investor and has a democratic framework with a strong judicial system. “Apart from that its tax structure is very much favourable to the investors,” he said adding that the companies based in Mauritius and trading on other parts of the world would get 80 per cent tax rebate. “On top of that the people of Africa trust Mauritius more than any other.”
GBOT's main promoter is India's Financial Technologies (FT) that is listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) of India.
The exchange that has invested around $20 million was looking to add options contracts in due course, apart from international stocks, bonds and IRFs. “But initially, we are looking at $1 billion to $1.5 billion per trading day for each of the two categories of products (commodities and currencies) from second year trade given a limitations in the region,” Bosco said adding that “though it would definitely go up by the time.”
The first of its kind of currency and derivatives exchange in this region – Global Board of Trade (GBOT) – plans to offer eight-currency pairs with the dollar as the base – including Kenyan shilling and Ugandan shilling.
Joseph Bosco, deputy managing director and Chief Operating Officer (COO) of GBOT thinks that the region, with all its natural resources and huge potentials, is slowly waking up. “The African region is coming out of its troubled past and realizing its real strength,” he said adding that GBOT offers the region a better platform to exploit its natural resources and commodities like sugar and coffee. “Cocoa and coffee from the African region and Mauritius sugar are the world class,” he added.
It also expects to trade futures contracts in zinc, copper, aluminium, nickel, gold, silver and platinum apart from coffee, sugar and maize as well as crude oil and carbon credits.
The exchange will trade in 14 commodities, such as precious metals, base metals and agricultural commodities and eight dollar-based currency pairs - including the Mauritius rupee, euro, yen and sterling.
A good futures market can also control volatility of currency. “We will offer them the required risk management mechanism to hedge themselves against uncertainty,” Bosco added. “The east African countries like Kenya and Uganda can benefit a lot from it.”
The African continent has lately been on the radar of global powers like China and India. “And Mauritius is the gateway for Africa to the rest of the world,” he said. The Indian Ocean island nation offers every facility for an investor and has a democratic framework with a strong judicial system. “Apart from that its tax structure is very much favourable to the investors,” he said adding that the companies based in Mauritius and trading on other parts of the world would get 80 per cent tax rebate. “On top of that the people of Africa trust Mauritius more than any other.”
GBOT's main promoter is India's Financial Technologies (FT) that is listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) of India.
The exchange that has invested around $20 million was looking to add options contracts in due course, apart from international stocks, bonds and IRFs. “But initially, we are looking at $1 billion to $1.5 billion per trading day for each of the two categories of products (commodities and currencies) from second year trade given a limitations in the region,” Bosco said adding that “though it would definitely go up by the time.”
Wednesday, February 3, 2010
Nissan most favourite car brand in Mauritius
Nissan is the most favourite car in domestic market.
It has been the most favourite car of the Mautitians as it has been the leading brand in terms of sales for almost one-and-half decade. “Despite the economic recession, we have sold 1,004 units of Nissan in the year 2009,” said Dean Ah-Chuen, executive director of the ABC Motors that is the sole dealer of the Nissan cars in Mauritius. “We are best selling brand since 1996,” he added.
In a country of 1.3 million population there are 40 brands in the market giving a customer a wide variety of choices. But the Japanese car brands have been riding ahead the British and European brands in the domestic market, though they entered into the market only after mid-60s.
Mitshubishi sold 830 units and Toyota sold 630 units in the year 2009, according to the Motor vehicles sales statistics.
From 1990, the Motor Vehicle Dealers Association (MDVA) started to compile the data of sales of every brands sold in the domestic market. “Nissan was the brand leader in the first two years – from 1990 to 1991 – then Toyota overtook it,” he said adding that “for four year – from 1992 to 1996 – Toyota led the market.
The domestic car market has been witnessing around four to five per cent growth annually. “So are we,” claims Ah-Chuen.
In 2008, ABC Motors sold 1,499 units of Nissan surpassing its sales record of 1,303 in 2007. In 2006 it sold 1,190 units of Nissan, according to him, who is more upbeat over the current year’s promising start. “The demand has started picking up in the first month itself,” he said adding that the signs of overall economic rebound are going to help accelerate the sales of automobiles in the year 2010.
The constructions that were halted last year have started to gain momentum pushing demands up for the automotives like pick-ups. “It is definitely going to help propel the auto sector,” he said.
It has been the most favourite car of the Mautitians as it has been the leading brand in terms of sales for almost one-and-half decade. “Despite the economic recession, we have sold 1,004 units of Nissan in the year 2009,” said Dean Ah-Chuen, executive director of the ABC Motors that is the sole dealer of the Nissan cars in Mauritius. “We are best selling brand since 1996,” he added.
In a country of 1.3 million population there are 40 brands in the market giving a customer a wide variety of choices. But the Japanese car brands have been riding ahead the British and European brands in the domestic market, though they entered into the market only after mid-60s.
Mitshubishi sold 830 units and Toyota sold 630 units in the year 2009, according to the Motor vehicles sales statistics.
From 1990, the Motor Vehicle Dealers Association (MDVA) started to compile the data of sales of every brands sold in the domestic market. “Nissan was the brand leader in the first two years – from 1990 to 1991 – then Toyota overtook it,” he said adding that “for four year – from 1992 to 1996 – Toyota led the market.
The domestic car market has been witnessing around four to five per cent growth annually. “So are we,” claims Ah-Chuen.
In 2008, ABC Motors sold 1,499 units of Nissan surpassing its sales record of 1,303 in 2007. In 2006 it sold 1,190 units of Nissan, according to him, who is more upbeat over the current year’s promising start. “The demand has started picking up in the first month itself,” he said adding that the signs of overall economic rebound are going to help accelerate the sales of automobiles in the year 2010.
The constructions that were halted last year have started to gain momentum pushing demands up for the automotives like pick-ups. “It is definitely going to help propel the auto sector,” he said.
Monday, February 1, 2010
2010 begins with surge in tourists’ arrival
Nepal continued to enjoy the sustained positive growth in the international visitor arrivals that has started since June 2009 in the first month of this year too.
According to the Immigration Office, Tribhuvan International Airport (TIA), visitor arrivals in January, compared with the same month last year, have increased by 18.8 per cent to 26,071.
Almost all the sector has shown positive growth in the first month of 2010. India, which constitutes the major market, has recorded positive growth of 9.9 per cent. In the SAARC region, arrivals from Bangladesh, Pakistan and Sri Lanka have registered positive growth by 43.3 per cent, 37.3 per cent and 9.9 per cent respectively.
In aggregate the South Asian segment has registered a positive growth of 15.6 per cent.Arrivals from Asia -- other than South Asia -- have also recorded positive growth in aggregate but countrywise the region has shown mixed performance. Visitor arrivals from Japan, Malaysia and South Korea have registered a positive growth by 19.5 per cent, 57.2 per cent and 87.2 per cent respectively.
However, China, Thailand and Singapore have registered negative growth of 18.3 per cent, 25.1 per cent and 3.2 per cent respectively. In aggregate the Asian segment has registered a positive growth of 15.4 per cent, the Nepal Tourism Board (NTB) saidAn overall positive growth of 34.9 per cent has been observed from the European markets with arrivals from major generating markets such as the UK, France, Germany, Italy, the Netherlands, Spain, and Switzerland up by 12.6 per cent, 17 per cent, 25.8 per cent, 40.9 per cent, 92.2 per cent, 62.4 per cent and 5.8 per cent respectively. Tourist arrivals from Australia, Canada and USA have also registered robust growth of 17.5 per cent, 69.2 per cent and 10.2 per cent respectively.“The figures reflect confidence among visitors and tour operators to Nepal,” said the NTB.
Last year India showed mixed performance in visitor arrivals to Nepal however the start of the year has begun with positive note. The sustained positive growth will undoubtedly be effective in turning Nepal Tourism Year 2011 a grand success.A total of 31,672 foreign tourists departed from TIA in January 2010. The number of Nepalis arrivals stood at 57,894 while 65,383 Nepalese departed from TIA in January 2010.
According to the Immigration Office, Tribhuvan International Airport (TIA), visitor arrivals in January, compared with the same month last year, have increased by 18.8 per cent to 26,071.
Almost all the sector has shown positive growth in the first month of 2010. India, which constitutes the major market, has recorded positive growth of 9.9 per cent. In the SAARC region, arrivals from Bangladesh, Pakistan and Sri Lanka have registered positive growth by 43.3 per cent, 37.3 per cent and 9.9 per cent respectively.
In aggregate the South Asian segment has registered a positive growth of 15.6 per cent.Arrivals from Asia -- other than South Asia -- have also recorded positive growth in aggregate but countrywise the region has shown mixed performance. Visitor arrivals from Japan, Malaysia and South Korea have registered a positive growth by 19.5 per cent, 57.2 per cent and 87.2 per cent respectively.
However, China, Thailand and Singapore have registered negative growth of 18.3 per cent, 25.1 per cent and 3.2 per cent respectively. In aggregate the Asian segment has registered a positive growth of 15.4 per cent, the Nepal Tourism Board (NTB) saidAn overall positive growth of 34.9 per cent has been observed from the European markets with arrivals from major generating markets such as the UK, France, Germany, Italy, the Netherlands, Spain, and Switzerland up by 12.6 per cent, 17 per cent, 25.8 per cent, 40.9 per cent, 92.2 per cent, 62.4 per cent and 5.8 per cent respectively. Tourist arrivals from Australia, Canada and USA have also registered robust growth of 17.5 per cent, 69.2 per cent and 10.2 per cent respectively.“The figures reflect confidence among visitors and tour operators to Nepal,” said the NTB.
Last year India showed mixed performance in visitor arrivals to Nepal however the start of the year has begun with positive note. The sustained positive growth will undoubtedly be effective in turning Nepal Tourism Year 2011 a grand success.A total of 31,672 foreign tourists departed from TIA in January 2010. The number of Nepalis arrivals stood at 57,894 while 65,383 Nepalese departed from TIA in January 2010.
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