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NIC Asia Bank’s last week opened a new branch at Tilota­ma Municipality Ward 15, Kotihawa, Rupandehi. Ashok Kumar Poudel, director of Nepal Rastra Bank (Bhairaha­wa), inaugurated the branch, NIC’s 173rd. The bank will now serve its customers through 172 ATM counters and four exten­sions counters.

NIC Asia Bank is one of the largest private sector commer­cial banks in the country in terms of capital, balance-sheet size, customer base, number of branches and its ATM network. More branches are planned, says a bank statement.

 Nabil Bank is set to introduce Union Pay International QR Code Acquiring service in the country, a feature which could potentially eliminate the need for Point of Sales (POS) terminals. The cus­tomers can simply scan the QR readers at checkout counters at merchant outlets to make their payments.

When a customer scans the QR code, it transmits transaction information to the mobile app, where card details are stored and payment initiated. Through the new service, the bank intends to provide efficient and secure electronic transactions for both merchants and customers.

 NIBL Capital Markets and Ace Capital completed their merger process and launched operation as a sin­gle unit last week with ‘NIBL Ace Capital’ as the name for the consolidated unit of the two investment banks. NIBL Capital Markets and Ace Capital had initiated the merger via a Memorandum of Understanding signed in November 2017.

According to a joint statement, the post-merger paid-up capital of the consolidated entity stands at Rs 270 million, which is the largest in Nepali capital market industry. "NIBL Ace Capital will avail com­bined depository participant (DP) services to more than 142,000 demat account-holders. It will also provide share registrar services to 38 companies and over one million shareholders,” reads the statement from the joint entity. At present, these services will be provided through four branch offices of NIBL Ace Capital, while there are expansion plans for three more branch offices.

Kathmandu: A meeting of the out­going Council of Minister on Feb­ruary 15 concluded that the cabinet formed under the chairmanship of Prime Minister Sher Bahadur Deuba had fulfilled its goals. The cabinet meeting held at the official residence of the prime minister at Baluwatar thanked all those who had supported the government, said outgoing Minister for Water Supply and Sanitation, Mahendra Yadav. The meeting also concluded that the government had been successful in its main task of holding local, central and provincial-level elections. RSS

As political analyst Krishna Khanal points out, after a long time, the head of government in Nepal will have an unquestionable man­date to govern (see: Many hurdles ahead for Oli government, Page 2). Since the 2006 political changes, until the promulgation of the new constitu­tion on September 20, 2015, successive governments were occupied with completing the peace and consti­tution process that started with the signing of the Com­prehensive Peace Accord in 2006. After constitution promulgation, the focus shifted to holding the consti­tutionally-mandated three tiers of elections. Only after these elections was an environment created for the new constitution’s implementation.

KP Sharma Oli becomes the first prime minister to see to the institutionalization of the nascent federal set-up, as provided in the new constitution. With the merger between CPN-UML and CPN (Maoist Center) now all but assured, Oli will get to lead a strong gov­ernment with a commanding majority in the national parliament. Not just that. His left alliance will also form governments in six of the seven federal provinces, bar­ring Province 2. It is hard to think of a more favorable political climate for the new prime minister.

On the campaign trail, Oli had promised a new era of prosperity and stability. That will be a tall order. Most of the next few years will, perforce, be spent devising the right formula for division of spoils among the cen­tral government, the seven provinces and the 753 local bodies—in what is sure to be an acrimonious and ardu­ous process. In this climate, it will be difficult for Oli to chart out a clear path for collective, national prosperity.

He could have better luck on stability, primarily because of the solid mandate he enjoys at all three levels of government. If there is one strong communist party following the left merger, handing over power to Maoist chairman Pushpa Kamal Dahal, as agreed, need not be very disruptive either.

Oli’s difficult relations with Madhesi parties could be more problematic. He will not find it easy to accommo­date them in the new central government, much less accommodating their demands in the new constitu­tion. Separately, nor will it be easy for him to deal with India and China, with their growing (and often compet­ing) influences and expectations.

Oli’s mettle as a national leader was put to a serious test during his stint as the blockade-time prime minis­ter. With challenges aplenty on both national and inter­national fronts, it will not be any easier this time.

What a wonderful coincidence! Just as Nepal is formally entering the federal era with the election of the seven provincial governments, the Annapurna Media Network is launching its flagship English news and entertainment outlet: The Annapurna Express.

This weekly news and entertainment newspaper serves the Nepali reading public quality English content that is both substantive and fun to read.

With the promulgation of the new constitution, followed by the three tiers of elections, we believe Nepal has turned a corner. Now is the perfect time to start the process of economic transformation of the country: boost our industries, create new jobs and eradicate poverty. The AMN is committed to playing our little part in this transformation—and this is our goal with The Express, too.

We give space to reportage and analysis from all seven provinces to give our readers a complete picture of how the new federation is shaping up, even as the country now strives to bring about the much-needed balance in the handing of its two neighbors. Besides this, we run thought-provoking opinion pieces on contemporary national and international issues. We also cover business, technology, fashion, movies, books and expats—it’s a complete package.  

We would like to thank Yubaraj Ghimire, the former editor of the Annapurna Post, for his inputs in The Express, which he shepherded in its early stages.  

We have worked hard to come up with this newspaper over the past few months. The final product is now in your hands and you, the readers, are the ultimate judge. Any feedback is most welcome.

When KP Sharma Oli first became the prime minis­ter at the end of 2015, he inherited a country that was in a state of virtual lockdown from the border blockade. It is to his credit that he was able to pass a constitu­tional amendment to end it. He must also be lauded for bringing a semblance of balance in the country’s relations with its two neighbors. But his nine months in office also were marked by the same degree of crony­ism, corruption and impunity as the reigns of any of his immediate predecessors. He, as prime minister, could also have shown more sensitivity in his messaging to the marginalized communities, Madhesis especially.

As he is set to be prime minister again, in as early as a couple of weeks, a different set of challenges await Oli. He will be the first prime minister after the implemen­tation of the federal setup. It will be up to him to guide Nepal through this tricky transition to a full-fledged federal set-up. With the left alliance forming government at the cen­ter, as well as six of the seven provinces, Oli will have the mandate to lay a strong foundation for a peaceful and prosperous federal Nepal.

This is why it is vital that the merger between UML and Maoist party happens early, preferably before the formation of the new government. If the two parties unite now, it will all but guarantee that the country will have a stable government for the next five years.

If not, people will not be assured that the kind of tasteless politicking that has been in display since the 1990 political changes—whereby, on average, govern­ments came and went every nine months—won’t again bedevil Nepal. And if that happens, Nepal’s develop­ment prospects and its quest to graduate from the group of LDCs in the foreseeable future will remain unfulfilled. This is why, the Maoists, as the junior part­ner in the ongoing merger talks, need to be reasonable in their demand for portfolios in the new party. But as the senior leader in the left alliance, and for the sake of the country he professes to love, Oli should not hesi­tate to make significant concessions as well.

After bringing about a revolution and getting people talking about menstrual hygiene on social media, R Balki's Pad Man is ready to achieve another milestone.

Apart from releasing in 50 countries, the film, starring Akshay Kumar, Radhika Apte and Sonam Kapoor will become Bollywood's first film that will release in Russia, Ivory Coast and Iraq.

The elated producer Twinkle Khanna took to Twitter to announce this. "I once told my Pad Man that I will take him places... Well, not only will Pad Man release in 50 countries all over the world but It is Bollywood's first film that will be releasing day and date in Russia, Ivory Coast and even Iraq," Twinkle tweeted.

Pad Man is releasing on February 9. It is based on the story of real life hero Arunachalam Muruganantham and addresses the issue of menstrual hygiene. Arunachalam had invented a machine to produce low-cost sanitary napkins, after seeing the plight of his wife. Radhika Apte plays the role of the protagonist's wife in the film.

The release date of Padman was earlier scheduled to release on January 25. It's release was postponed after Sanjay Leela Bhansali requested Akshay Kumar to do so in order to allow a smooth release for his film Padmaavat, which had seen trouble since its days of shooting.