KATHMANDU: Khabarhub brings you a glimpse of major developments of the day in Nepal, including politics, business/economy, sports, entertainment, and more.
Biswo Poudel likely to become NRB governor amid political tug-of-war
Nepal’s central bank remains without a governor more than a month after the post fell vacant, with political wrangling and internal party dynamics delaying the appointment. However, the picture is becoming clearer: unless a surprise consensus is reached between Prime Minister KP Sharma Oli and Nepali Congress President Sher Bahadur Deuba, 50-year-old economist Dr. Biswo Poudel appears poised to become the governor of Nepal Rastra Bank.
Dr. Poudel, a seasoned economist with close ties to the Nepali Congress, is being positioned as the party’s candidate for the powerful regulatory post. Although he lost the 2022 general election from Chitwan Constituency No. 1, he is now expected to be rewarded with the governorship — a move that has sparked both optimism and concern in political and economic circles.
New cheque bounce law comes into effect with stricter time limits and penalties
The government has enforced a revised law on cheque bounce offences, bringing significant changes to the legal process, timeline, and penalties. The new provisions came into effect following the publication of the Act to Amend the Banking Offences and Punishments Act, 2008 in the Nepal Gazette on May 7. With this amendment, the timeline for taking legal action in cheque bounce cases has been considerably shortened. Previously, individuals could file a case within five years of a cheque being dishonoured, as per the Bill of Exchange Act, 1977.
PM Oli warns of global threat from WMD, calls for peace on Buddha Jayanti
Prime Minister KP Sharma Oli has warned that the ongoing global production and stockpiling of weapons of mass destruction pose a serious threat to human existence and the planet. Addressing the 2569th Buddha Jayanti celebration in Lumbini on Monday, PM Oli highlighted the urgency of advocating for world peace.
“Today, when the work of manufacturing and stockpiling weapons of mass destruction is happening, this is very dangerous for human existence and the existence of the earth. We must once again be in favor of world peace and work to get rid of this,” he said.
Bad weather disrupts Everest climb
The spring climbing season continues in the Himalayas, but adverse weather conditions have forced a temporary halt to mountaineering activities on several peaks, including Mount Everest and Kanchenjunga.
Strong winds have especially impacted Everest, with climbers either retreating to safer camps or waiting for conditions to improve.
According to the Department of Tourism, strong winds have made it impossible for climbers to proceed with their ascents today. Himal Gautam, Director at the Department, confirmed that no climbs could take place on Everest due to the unfavorable weather.
Karnali Highway to close 8 hours daily for 15 days due to road repairs
The Karnali Highway will remain closed for eight hours daily for 15 days due to road maintenance work along the Sisne–Sai section in Dailekh district. According to a notice issued by the Dailekh District Administration Office, the road will be closed from 8 a.m. to 12 p.m. and from 2 p.m. to 6 p.m. daily to facilitate the repairs. The contract for the work has already been managed, but construction issues prompted the need for this temporary closure.
Dispute between ruling parties over cooling period in Civil Service Bill
The ruling parties—CPN-UML and Nepali Congress—remain divided over the proposed “cooling period” provision in the Federal Civil Service Bill, delaying finalization of the long-pending legislation.
While the CPN-UML supports a one-year cooling-off period after retirement before former civil servants can receive a new appointment, the Nepali Congress insists on keeping it at two years. The disagreement has prompted the State Affairs and Good Governance Committee, led by the Congress, to seek guidance from top party leaders.
Lumbini celebrates Buddha Jayanti with special ceremonies
The 2569th birth anniversary of Lord Gautam Buddha is being observed today with great reverence and fanfare across Nepal, particularly in Lumbini, the sacred birthplace of the Buddha.
Celebrated annually on the full moon day of Baisakh, Buddha Jayanti marks the Buddha’s birth, enlightenment, and Mahaparinirvana — all believed to have occurred on this day. A special commemorative program is being held at the International Buddhist Conference and Meditation Center in Lumbini, with Prime Minister KP Sharma Oli attending as the chief guest.
Gold price drops by Rs 3,700 per tola
The price of gold in the Nepali market witnessed a significant drop on Monday, falling by Rs 3,700 per tola, according to the Federation of Nepal Gold and Silver Dealers Association.
As per the federation’s daily update, gold is now being traded at Rs 186,800 per tola, down from Rs 190,500 recorded on Sunday. This marks one of the sharpest single-day drops in recent weeks, attributed to fluctuations in the international market and strengthening of the US dollar.
BoP surplus reaches Rs 346.23 billion in nine months, forex reserves up by 18.9%
The balance of payments (BoP) position remained in surplus by Rs 346.23 billion in the first nine months of the current fiscal year, according to data released by Nepal Rastra Bank (NRB).
Although the surplus is slightly lower compared to Rs 365.16 billion recorded during the same period last fiscal year, the central bank has reported encouraging signs in Nepal’s external sector. In US dollar terms, the BoP surplus stood at $2.55 billion during the review period, compared to $2.75 billion in the same period last year.
Remittance inflow reaches Rs 1.19 trillion in nine months, up by 10%
Nepal has received remittances totaling Rs 1.191 trillion in the first nine months of the current fiscal year, according to the latest report published by Nepal Rastra Bank.
This marks a 10 percent rise in remittance inflow during the review period. However, the growth rate is lower compared to the 17.2 percent increase recorded in the same period last fiscal year. In terms of US dollars, remittance inflow increased by 7.3 percent to reach $8.74 billion. The previous year’s growth in dollar terms was 15.2 percent.
Woman arrested for forcing minor into prostitution in Raxaul
Parsa police have arrested a 20-year-old woman for allegedly taking a minor to Raxaul, India, and forcing her into prostitution.
The accused, Alia Khatun of Birgunj-16, was arrested on May 10, said Superintendent of Police Gautam Mishra. She reportedly took the minor across the border on May 4 under the pretext of buying clothes and later coerced her into prostitution at a hotel in Bihar.
Over Rs 770 million in royalties collected from spring mountaineering season
More than Rs 770 million in royalties have been collected from climbers during this year’s spring mountaineering season, according to the Mountaineering Section of the Department of Tourism.
As of Sunday, the department has collected a total of Rs 773,587,915 in royalties, with Mount Everest alone contributing Rs 676,009,028. A total of 1,127 climbers—240 women and 887 men—from 119 expedition teams have received climbing permits for 26 peaks, including the world’s highest, Mount Everest.
Nepal and Bangladesh women journalists gather to address shared challenges
Women journalists from Nepal and Bangladesh have called for the establishment of a robust cross-border network to tackle common professional challenges and amplify the voices of underrepresented communities.
During an interaction program at the Nepali Embassy in Dhaka, women journalists from both countries discussed concerns related to representation, safety, and leadership opportunities in the media.
Resunga Airport to operate flights three days a week
With rising passenger demand, flights from Resunga Airport in Gulmi will now operate three days a week, according to airport officials. Station Chief Suman Thapa informed that Nepal Airlines will conduct flights every Sunday, Tuesday, and Thursday. Previously, only weekly flights were in operation, largely hindered by a shortage of aircraft and weather-related disruptions.
“Now that Nepal Airlines’ Twin Otter aircraft has been repaired, regular service has resumed,” Thapa said.
10 climbers summit Mt Kanchenjunga
A total of 10 climbers, including five Nepalis, successfully summited Mt Kangchenjunga, the world’s third-highest peak, last Saturday. This marks the first successful ascent of the 8,586-meter mountain this season, clearing the way for other climbers to begin their summit attempts.
Those who reached the summit in Taplejung district include Flutura Ibrahimi of Kosovo, Adrian Michael Hayes of the UK, Alireza Behpour and Seyedhamidreza Hashemi of Iran, and Saeed Almemari of the United Arab Emirates.
Foundation stone laid for High Government Attorney’s Office building in Patan
Attorney General Ramesh Badal laid the foundation stone for the High Government Attorney’s Office in Patan on the occasion of Buddha Jayanti, marking what he called a significant step toward strengthening legal infrastructure. Speaking at the ceremony on Monday, Attorney General Badal highlighted the importance of completing the construction on time and with quality.
“The construction of the building in Patan is an important achievement; it will facilitate work,” he said.
Comment