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The Central Investigation Bureau (CIB) of Nepal Police arrested one more person in connection with the Hyper Fund scam.

According to CIB Spokesperson and Information Officer, Superintendent of Police, Hobindra Bogati, Srikant Bhandari was apprehended from Rukum on Wednesday.

Earlier, the CIB had nabbed Nanu Ghimire aka Kajal from Lalitpur for her alleged involvement in duping Nepalis in the scam.

So far, police have received complaints from 56 people of fraud over Rs 79.5 million to the scam.

The CIB said that it has been preparing to issue a red corner notice through Interpol against those against whom complaints have been filed by the alleged victims.

CIB has appealed to those being subjected to the scam to register a complaint at the CIB.

It has also provided an online space for the registration of the complaint.

One can visit the official website of CIB https://cib.nepalpolice.gov.np and lodge a complaint via the Gmail ID ([email protected] or [email protected] )that is featured on its site.

Three houses were swept away by a landslide last night, leaving one injured at Kokti Village, Angla of Khandbari municipality-11 in Sankhuwasabha. 

According to the District Police Office officiating chief police inspector, Ram Kumar Lamichhane, the landslide swept away the houses of Mani Prasad Rai, Ram Prasad Rai, and Dil Bahadur Rai. Mani Prasad has been injured in the incident.

Being displaced by the disaster, they and their families are taking refuge in neighbors' homes. Nine families in various parts of the district have been displaced by the landslide.

At Shekha of Khandbari-4, four families were displaced due to the landslide, according to Ward Chair Binod Subba.

Similarly, five houses are at high risk from the monsoon-induced disasters at Chichila Rural Municipality-1 and 2. Lamichhane said that they are collecting details of the losses caused by the landslide in the district.  

The landslide also damaged the North-South Koshi Roadway Project. It damaged a four-kilometer segment of the road along the Khandbari-Kimathanka section which was about to be blacktopped.  

Furthermore, the flash flood triggered by incessant rain has damaged the local road in Num, Makalu Rural Municipality, disrupting traffic.

The estimated loss from this damage is around Rs 10 million, as reported by the Road Office.

A Nepali succumbed to altitude sickness at Ngisyang Rural Municipality-9 in Manang on Wednesday.

The deceased has been identified as Hari Adhikari from Phulkharka of Ganga Jamuna Rural Municipality-5 in Dhading.

He suffered altitude sickness at an altitude of 5,416 meters on Thoranga Pass trekking route at Ngisyang.

Adhikari died on the spot, according to Manang's Chief District Officer, Subas Kumar Lamichhane. 

The body has been transported to Kathmandu via a helicopter.

A code of conduct has been signed between the Advertising Association of Nepal (AAN), National Advertising Association of Nepal (NAN), Nepal Media Society, and the Media Alliance Nepal. On Wednesday, Sudip Thapa, President of AAN, Dharmendra Kaji Shrestha of NAN, Subha Shankar Kandel, Chair of Nepal Media Society, and Bhaskar Raj Rajkarnikar, Chair of Media Alliance Nepal, signed the agreement.

This agreement aims to implement a code of conduct between umbrella organizations of advertising agencies and mainstream media organizations. It is intended to improve advertising business management and monitoring procedures. Currently, a significant portion of government funds allocated for advertising is lost due to improper practices, resulting in the media receiving only a small share of these funds.

Government policies that limit advertising expenditures in sectors such as health, education, and insurance, and ban advertising in certain areas like alcohol, have financially harmed media companies that were established with substantial investments and provide numerous jobs. Creating a supportive environment for media operations is considered a shared responsibility, and there is a growing concern that failure to regulate the advertising business and media may lead to serious issues in the future.

One key objective of this commercial partnership agreement is to ensure that advertising in mainstream media is conducted exclusively through affiliated advertising business organizations (agencies). This measure aims to standardize advertising rates and promote healthy competition, thereby benefiting both advertising businesses and media organizations.

Key points 

• Agencies must be registered and regularly renewed with relevant Nepal Government agencies and the advertisement board, and be members of AAN or NAN.
• Agencies must employ at least five staff and have the necessary physical infrastructure as specified by the AAN or NAN
• Agencies must obtain a ‘No Objection Letter’ annually from the media or related organizations to conduct business with the media
• Mainstream media and media businesses that earn income from advertising must publish and disseminate lists of agencies registered with the advertising board and keep this information on their websites
• Affiliated advertising agencies are required to maintain a bank guarantee or cash bond as per the media’s policy for advertising-related business
• Mainstream media should only conduct business with AAN or NAN-affiliated agencies registered with the Advertising Board. Agencies must similarly work only with media affiliated with the Nepal Media Society and Media Alliance Nepal
• Minimum advertising rates are set at Rs 500 per column per cm in print media and Rs 1,000 per minute on television. Media cannot offer rates below these minimums, and violation will result in a three-month suspension from advertising business
• Agencies must charge at least Rs 600,000 per year for creative concept design and Rs 5,000 for each creative concept
• Advertisers must adhere to a 15 percent commission for agencies and an additional maximum seven percent fee for media marketing agencies. This fee supports agency operations infrastructure, technology, human resources, business development, and returns. Media marketing agencies must operate at the set media rates
• Media affiliated with this agreement must publish and broadcast their advertising rates and maintain transparency on their websites and with the Advertising Board
• Advertisers must pay agencies within 30 days of receiving a bill, and agencies must pay the media within 60 days. Delays will incur a 15 percent annual interest rate from the date of the advertisement publication
• Advertisers leaving an agency must clear all outstanding dues within 30 days. Failure to pay will result in a business ban issued by AAN and NAN, enforceable by all agencies and media.
• To ensure market transparency, advertising rates should be based on the media content’s popularity and quality
• Mainstream media should not engage directly with advertisers, except for event-related dealings