FIFA President Gianni Infantino has convened an emergency meeting of senior officials in Morocco following the withdrawal of his controversial business plan. Carlos Cordero, FIFA’s Global Strategy and Governance Advisor, has resigned from his position amid the fallout. Kathmandu, 20 Shrawan — After retracting the contentious ‘FIFA Forward Enterprise’ plan, which sought to transfer FIFA’s commercial and competition management rights to a private entity and sparked widespread criticism, Infantino has called an urgent session of top officials to resolve the dispute.
According to sources, the meeting will include FIFA Secretary General Matthias Grafström, Chief Financial Officer Thomas Peyer, Head of Legal Emilio García Silvero, Head of Member Associations Elkhan Mammadov, Communications Director Brian Swanson, along with other senior officials. FIFA’s Chief Global Football Development Officer, and former Arsenal coach Arsène Wenger, has endorsed the decision to withdraw the plan, calling it necessary and appropriate. Wenger clarified that he was not involved in the plan in any capacity and learned of it solely through media reports. He emphasized that FIFA must serve football based on transparency, integrity, and independence.
Meanwhile, Secretary General Grafström described the recent events as ‘regrettable and reprehensible’ in an internal email. Prince Ali, President of the Jordan Football Association, accused the threats to withhold prize money and pressure to support Infantino’s re-election as ‘not blackmail but a deliberate effort.’ Amid the controversy, FIFA’s Global Strategy and Governance Advisor Carlos Cordero resigned, citing the plan as a ‘bad deal for football’ that puts the sport’s future at risk. The Union of European Football Associations (UEFA) has also issued legal warnings to FIFA demanding the safeguarding of documents related to the plan.
Ukrainian officials have reported that at least 17 people have been killed following multiple Russian ballistic missile and drone strikes in Ukraine.
The attack, which began after midnight on Wednesday, is considered the deadliest assault on Kyiv this year, resulting in 44 injuries.
Timur Tkachenko, head of Kyiv’s military administration, stated, “The enemy is once again launching a severe offensive in the Kyiv region,” with attacks occurring at multiple locations.
Following the Russian ballistic missile strikes on Kyiv and its outskirts, a more than one-hour aerial attack alert was issued.
According to Kyiv’s military administration, the missile strikes caused damage to residential areas and warehouses.
What Russia Says
Image source, Reuters
The Russian Defense Ministry has claimed responsibility for targeting military supply and storage facilities in Kyiv and surrounding areas.
“These sites were involved in storing and supplying weapons and other military equipment, as well as the production and distribution of unmanned aerial vehicles (drones),” the Russian Defense Ministry said.
The ministry also asserted that three cargo ships near a Black Sea port in Odesa, involved in transporting weapons and military equipment, were targeted during the strikes.
Ukraine has appealed to allied nations to provide additional US-made Patriot missile interceptors to defend against Russian ballistic missile attacks.
Ukrainian Attacks in Russia
Kyiv Mayor Vitali Klitschko expressed concerns that people may be trapped under rubble following strikes in the city center. He stated on Telegram that among the injured, four are in serious condition.
Kyiv’s military administration said, “The enemy deliberately targeted civilians and civilian infrastructure once again.”
Ukrainian air forces have not reported neutralizing any Russian missiles during this attack. A Telegram post claims that Russia launched 24 ballistic missiles and four anti-ship missiles.
Russian communications indicate that 115 drones were fired during the attack, of which 98 were destroyed mid-air by air defense systems.
In recent weeks, Russia has intensified attacks on Kyiv, while Ukraine has stepped up strikes targeting Russian energy hubs and civilian infrastructure.
Ukraine has repeatedly targeted warehouses of Wildberries, a major e-commerce company in Russia.
An attack on the Wildberries warehouse in the Moscow region on Tuesday resulted in five deaths and 10 injuries.
Russian officials reported that seven people were killed and 58 injured in a drone attack on tourists along the southern Krasnodar coast the previous day.
Ukraine expressed outrage at a recent incident in Kherson where a Russian drone struck a civilian, accusing Russia of conducting a ‘targeted attack’ on civilians.
However, both sides continue to deny allegations of deliberately targeting civilians.
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North Korea has issued a stern warning of adopting additional military measures, viewing Japan’s growing military capabilities as a serious threat to its security. North Korean leader Kim Yo Jong accused Japan of abandoning its pacifist policies and transforming into a “war state.” Following Japan’s increase in defense budget and deployment of missile systems, North Korea condemned these actions as a danger to regional peace. (20 Saun, Seoul)
North Korea criticized Japan for its rapid military expansion, interpreting it as a significant challenge to its own security and warning of additional military options if necessary. In a statement released Wednesday, Kim Yo Jong alleged that Japan is moving away from its post-World War II pacifist stance towards becoming a “war state,” and stated Pyongyang would not be provoked by Japan’s military activities.
In a statement issued by the North Korean state news agency KCNA, Kim accused Japan of increasing military spending, expanding defense cooperation, deploying missile systems on its outlying islands, and advancing capabilities for preemptive strikes. She highlighted Japan’s recent tests of long-range Tomahawk cruise missiles and participation in US-led joint military exercises in the Philippines as examples of intensified military activity in the Pacific region.
Her remarks came after Japan’s defense minister released a new security assessment report on Tuesday, which highlighted rising security challenges from China, Russia, and North Korea, and emphasized the urgent need to strengthen defense capabilities. Kim asserted that Japan’s military build-up could seriously impact regional peace and stability and stated that North Korea is continuously monitoring such developments.
The schedule for the six matches Nepal will play in the NT Top End T20 Series, hosted in Australia, has been released. Nepal is set to begin the tournament against NT Strike on October 5. The Cricket Association of Nepal has yet to announce its squad for the competition.
According to the match schedule for the NT Top End T20 Series, held in Australia’s Northern Territory, Nepal will play six league-stage matches in Darwin from October 5 to October 14. Nepal’s opening game will be against NT Strike on October 5. The team will then face Bangladesh High Performance on October 6, Hobart Hurricanes Academy on October 8, ACT Comets on October 10, Kingsmen on October 11, and Victoria on October 13.
In the previous edition, Nepal won two of their six matches while losing four. The Cricket Association of Nepal (CAN) has not yet named the squad for this edition. With the possibility of the ACC Premier Cup also being hosted there, Nepal may announce two separate squads for the events.
Nepal’s match schedule:
October 5 – Nepal vs NT Strike
October 6 – Nepal vs Bangladesh High Performance
October 8 – Nepal vs Hobart Hurricanes Academy
October 10 – Nepal vs ACT Comets
October 11 – Nepal vs Kingsmen
October 13 – Nepal vs Victoria
August 6, Kathmandu – Russia has launched a missile attack on Kyiv, the capital of Ukraine. The assault has reportedly caused two deaths and left 22 people injured. City officials in Kyiv have confirmed the death of a woman, while regional authorities reported another fatality in Bucha.
Timur Takachenko, head of Ukraine’s military administration, stated, ‘Russia is once again conducting a large-scale attack on Kyiv.’ During the assault on Tuesday night, air raid sirens sounded for hours as multiple missiles struck various locations within and around the city. The Ukrainian military accused Russian forces of deliberately targeting civilians and residential areas. However, Russia has yet to issue any response regarding this attack.
According to a video released on August 4 by the regional military administration of Ukraine’s Kherson region, a drone is seen chasing a vegetable vendor in a local market. The individual is seen running to escape from the drone. Shortly afterward, the drone explodes. Although the vendor was injured in the blast, his life was spared, as reported by Yaroslav Shanko, head of the Kherson military administration, via Telegram. Ukrainian officials are describing this incident as a “targeted attack” carried out by the Russian military. Russia has consistently denied allegations of deliberate attacks on civilians, rejecting the accusations repeatedly.
Victor Rana, President of Footballers Mission Together (FMT), has written to FIFA President Gianni Infantino urging the formation of an interim committee to resolve the ongoing issues within the All Nepal Football Association (ANFA). Footballers Mission Together has requested FIFA to establish this committee to address ANFA’s problems. Rana stated that ANFA’s leadership term has ended, and due to weak performance, new elections are necessary at both district and central levels. With the risk rising that Nepal could be barred from participating in the SAFF Championship due to FIFA’s suspension of ANFA, the organization has also proposed mediation to resolve the disputes.
Kathmandu, 20 Shrawan — Footballers Mission Together (FMT) has called for the establishment of an interim committee to solve the problems plaguing the All Nepal Football Association (ANFA). Currently, ANFA is suspended by FIFA, and the term of the current ANFA executive committee expired in the first week of Ashad. FMT expressed serious concern over the crisis facing Nepali football and the adverse impact of FIFA’s suspension. According to FMT CEO Madhusudan Upadhyay, a letter outlining their deep concerns about ANFA’s suspension has been sent to the global football governing body.
Founded in 2018, FMT is an organization comprising former international players, referees, coaches, and officials from Nepal. In the letter, FMT President Victor Rana stated, “We are deeply concerned about ANFA’s suspension. This ban and its long-term consequences have shocked the entire nation and equally affected players, coaches, referees, and officials alike. The suspension has not only hindered the development of football in Nepal, but with the perceived support of ineffective leadership, it has also tarnished FIFA’s image.”
The letter further notes, “The current ANFA team’s term has ended. Their performance has been extremely weak, and they have failed to take meaningful steps to improve football in Nepal. They appear incapable of advancing the organization, and allowing their leadership to continue risks deepening the crisis.” It emphasizes the need for new elections from district to national level to resolve these issues and advocates for forming an interim committee for this purpose. Footballers Mission Together is ready to mediate.
“The only viable solution to this deadlock is to conduct elections first at the district level and then at the national level to gain a new mandate. Democratic processes will restore trust, accountability, and credibility in Nepali football administration. Therefore, we seek your support to form an interim committee with the responsibility to oversee these elections and end the stalemate. Footballers Mission Together is willing to mediate among the conflicting parties and, if requested, lead a fair and transparent electoral process.”
FIFA suspended ANFA on June 25, citing third-party interference as the controversy escalated. Due to the suspension, Nepal was not included in the draw for the upcoming SAFF Championship scheduled in Bangladesh in November. If the suspension is not lifted by September 1, Nepal will be excluded from South Asia’s premier football tournament.
Authorities in California have arrested a man spotted near a Los Angeles-area golf course owned by former President Donald Trump. The incident occurred shortly before Trump was scheduled to attend a fundraising event at the venue. According to officials involved in the investigation, 38-year-old Janin John TL was found in possession of a pistol and illegal ammunition. Los Angeles police reported that the suspect was observed walking around the golf course premises, taking photos and videos, activities believed to be related to security planning and surveillance. He was apprehended on Sunday afternoon.
President Trump is currently visiting California, with a Republican Party fundraising dinner set to take place at the same golf course on Tuesday night.
Janin John TL faces charges of carrying a concealed weapon and possessing prohibited ammunition. Officials also revealed that he is wanted on a robbery warrant. A search uncovered a hollow-point magazine capable of holding 16 rounds of ammunition. Additionally, the pistol and another hollow-point magazine loaded with bullets were found in his vehicle parked at the golf course.
On Monday, the FBI’s Joint Terrorism Task Force and the Los Angeles County Sheriff’s Department’s Major Crimes Bureau conducted a raid on the suspect’s home in the Los Angeles area. The Sheriff’s Department cited “potential security implications” related to the investigation as the reason for the search. During the raid, authorities seized an illegally modified AR-platform rifle, a .45 caliber pistol, body armor, high-capacity magazines, pistol and rifle ammunition, as well as notebooks containing concerning writings. An ongoing investigation, supported by the US Secret Service, is underway, with officials indicating the possibility of additional charges in the future. However, the department stated that there is currently no clear threat targeting the community.
This incident occurred during one of President Trump’s rare visits to California. According to the White House, Trump planned to deliver a speech criticizing California Governor Gavin Newsom, who is considered a potential contender for the 2028 presidential election. Following California, Trump is scheduled to travel to Las Vegas on Wednesday to speak at a casino event. These visits come amid heightened electoral activities as the November midterm elections approach.
President Trump has survived three assassination attempts in recent years. Authorities have not been able to confirm whether the individual arrested on Sunday intended to harm Trump. No charges related to any such intent have been filed against the suspect at this time.
Image caption, Information indicates that seven different parties are uniting to form the Progressive Front
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The unrest observed in various districts of Koshi and Madhesh provinces and emerging doubts over the current government’s commitment to federalism have prompted most Madhesh-centered parties to prepare for forming a new political front.
This new front is expected to be formally established under the name ‘Progressive Front’ on August 23.
Analysts have noted that this announcement, coinciding with preparations for coalition by leftist parties, indicates increased political polarization.
What is the objective of the upcoming ‘Progressive Front’?
The soon-to-be announced Progressive Front will include key leaders such as Janardan Sharma from the Progressive Democratic Party (Pralopa), Upendra Yadav from the People’s Socialist Party (JSP), Prabhu Sah from the General Public Party (Ajpa), Dr. CK Raut from the People’s Opinion Party, patron Resham Chaudhary of the Citizen Liberation Party, Rizwan Ansari from the Nepal Federal Socialist Party, and Harinandan Kumar Ambedkar of the Bahujan Unity Party.
“We are forming this front to guide the country forward and find solutions to ongoing crises,” said General Public Party leader Prabhu Sah.
“We want the government’s operations to be progressive and effective,” Sah added.
JSP Nepal chairman Upendra Yadav explained that joining the front was essential to unite for resolving the country’s challenges.
“Finding a solution means addressing national issues. Groups agreeing on progress, good governance, and economic development have joined this front,” Yadav said.
Progressive Democratic Front leader Janardan Sharma stated that the front’s goal is to resolve issues related to the nation and national identity.
“We will publicly share detailed objectives and programs on the 23rd. Primarily, this front is necessary for solving national problems, advancing people’s agendas, and supporting as well as alerting the government,” Sharma explained.
People’s Opinion Party leader CK Raut described the front on social media as “a coalition of revolutionaries, contributors, and warriors who have fought for federal democratic republic and social justice.”
He added that the front consists of parties that have emerged from movements and remain steadfast for social justice.
Why is there discontent about federalism?
Image source, PMO
Weakening commitment of the current government to federalism has raised concerns among several parties, motivating them to form this new front.
“Federalism and provincial powers appear increasingly weakened,” said Prabhu Sah of Ajpa, stressing their aim to empower citizens through the new front.
JSP leader Upendra Yadav expressed alarm over the proposal to dissolve Provincial Assemblies.
“If Provincial Assemblies are to be abolished, what future does federalism hold?” Yadav questioned.
According to them, a resolution made during the National Independent Party’s 2022 convention included plans that could undermine federalism by dismissing Provincial Assemblies, intensifying doubts about the government’s intentions.
Is it an Anti-Government or Electoral Alliance?
The government, led by senior leader Balendra Shah ‘Balen’ from Rastriya Swatantra Party, has been in office for four months.
During this period, controversies regarding the dissolution of the Provincial Assembly and communal tensions in some districts have placed Madhesh-centric parties in difficult positions.
With local and provincial elections approaching, leftist parties are also strengthening their coalitions.
In this context, analysts consider the formation of the new Progressive Front a sign of rising political polarization.
However, leaders of the front have denied claiming the group to be either anti-government or an electoral alliance.
“Our goal isn’t solely to change the government repeatedly, as that yields no benefit,” Upendra Yadav stated.
They also clarified that the front has no association with the recent unrest in Madhesh.
According to the leaders, coalition-building has been ongoing for some time.
“Our front includes leftist, progressive, socialist, revolutionary, Madhesh- and Hill-centered parties. This is not a reaction to other coalitions nor for elections,” Janardan Sharma said.
“Currently, issues like unrest in Madhesh and management of squatters have arisen, where our parties should play a role,” he added.
However, they do not currently plan to undertake actions such as street protests.
Government Efforts to Reconcile
Image source, PMO
Image caption, Last week, Prime Minister Shah held discussions with leaders of Madhesh-centric political parties
Last week, amid tensions in districts of Koshi and Madhesh provinces, Prime Minister Shah met with leaders of various Madhesh political parties.
He emphasized that the government prioritizes empowering provinces and protecting their rights.
Prabhu Sah, who attended the meeting, reported having raised questions about the ability to strengthen provinces.
“The Prime Minister expressed confidence in empowering provinces,” Sah stated.
Upendra Yadav emphasized that commitment to the constitution and federalism should go beyond mere rhetoric.
Prime Minister Shah called upon all political parties to maintain restraint, engage in dialogue, and support national unity, expressing belief that a strong constitution secures a strong future for all Nepalis.
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On the coast of Yemen’s Red Sea, the Indian-flagged vessel M.V. Faiz Noor-e-Aulia was attacked by Houthi rebels using a suicide boat laden with explosives, resulting in the sinking of the ship. The Indian Ministry of External Affairs confirmed that all 13 Indian nationals aboard were safely rescued. dated July 4, Kathmandu.
Initial reports indicate that the Iran-backed Houthi militants carried out the attack with a suicide boat carrying explosives targeting the vessel. Although the ship sank following the assault, all 13 Indian citizens onboard were rescued unharmed. The Indian Ministry of External Affairs issued a statement strongly condemning the attack on the vessel.
The Indian Embassy in Riyadh, Saudi Arabia, has been closely monitoring the situation. Coordination is ongoing with relevant Yemeni authorities to ensure the safety of the crew members. The ship involved in the attack has been confirmed as the ‘M.V. Faiz Noor-e-Aulia.’
Previously, in late February, a Thailand-owned vessel named ‘Mayuri Nari’ carrying oil en route to Gujarat, India, was attacked. Similarly, in mid-June, another commercial vessel, the ‘GFS Galaxy,’ was targeted near Oman’s coast. Out of the 11 Indians onboard that ship, 10 were rescued, while one remains missing.
Following threats from the Houthis, six Saudi supertankers have altered their maritime route. These tankers have abandoned the shorter Red Sea and Bab al-Mandeb Strait passage, opting instead for a longer route around the southern coast of Africa. The attack on the ship and the subsequent changes in shipping routes have raised concerns about the security of commercial vessels in the Red Sea region. Recent incidents highlight the increasing security risks in this critical international maritime corridor.
Image caption, India has witnessed some of its largest youth protests in years, sparked by exam paper leaks and unemployment concernsArticle Information
Following repeated exam paper leaks in entrance examinations, enraged Gen Z youth took to the streets last year, forcing India’s Education Minister Dharmendra Pradhan to resign.
His resignation helped Prime Minister Narendra Modi avert an immediate political crisis at the time, but managing the dissatisfaction of the youth remains a long-term challenge for his government.
The Modi administration announced the establishment of fast-track courts to swiftly deliver justice in cases involving exam paper leaks. In addition, a government reform initiative led by tech entrepreneur Nandan Nilekani was launched to improve the examination system. However, experts argue that broader and more effective measures are needed to address the growing concerns of young people.
Causes
There is widespread youth dissatisfaction because the current education system fails to generate quality employment opportunities and does not equip students with skills necessary for productive jobs.
“The labor market has been brutal over the past decade. Jobs outside agriculture have not increased significantly and wages have remained stagnant,” said seasoned economist and author Santosh Mehrotra, who wrote ‘India Out of Work: Rethinking India’s Growth Story.’
“India faces two serious simultaneous problems. First, the economy is structurally weak, preventing growth in labor demand. Second, the education system is so poor that it does not produce employable human capital.”
Until now, the government has countered critiques about unequal economic development by pointing to rapid growth rates and substantial public investment in infrastructure.
Experts suggest that recent upheavals may compel the government to take a more serious approach to the crisis in education and youth unemployment.
Mehrotra notes that India’s “unprecedented expansion of the welfare state,” including cash transfers, at least signals a serious governmental recognition of the problem. Yet resolving it remains an immense challenge.
Image source, Getty Images
Image caption, India’s Gen Z demonstrations forced the Education Minister to resign
India has the world’s largest youth population, with approximately 360 million people aged 15 to 29 years.
There have been significant improvements in enrollment rates. Over the past two decades, the number of private colleges and technical and vocational training institutions has grown rapidly.
However, according to the State of Working Report by Azim Premji University, “obtaining employment after education remains a major challenge, especially for college graduates, where the problem has intensified.”
Unemployment rates among youth are nearly four times higher than in other groups and far above the global average.
This issue is not new. In the last 25 years, unemployment among graduates has hovered around 35 to 40 percent.
But in recent years, demographic growth and increased education levels in India, which have brought more young people into the labor market, have accelerated the unemployment problem.
In 1983, about 4% of people aged 20 to 29 had completed a college degree, and only 13% of those were unemployed. By 2023, 28% had graduated, but 67% of them were unemployed.
The quality of education remains a critical challenge for employability. Even as the number of graduates has grown, job opportunities have not expanded proportionally.
“Between 2004-05 and 2023, around 5 million graduates have been added annually, yet only 2.8 million found employment, and among those, very few secured salaried jobs. This has also raised the rate of graduates who remain unemployed,” the report notes.
Similarly, the evidence shows graduates are not receiving adequate benefits. According to the report, only 3.7% of graduates or postgraduates work in office jobs, and fewer than 7% have permanent salaried employment.
Potential Solutions
Image source, Getty Images
Image caption, In recent years, the contribution of productive sectors to India’s GDP has declined, exacerbating the employment crisis
These challenges are not solvable in the short term.
Mehrotra emphasizes that India must focus on strengthening the manufacturing sector through new industrial policies.
“The share of productive sectors in India’s GDP has dropped from 17% in 2015 to 14% today. Employment in productive sectors declined for five years following 2015 before seeing a slight rise.”
Meanwhile, after 2020, total employment in agriculture rose by 80 million, which Mehrotra says signals hidden unemployment. Normally, in a rapidly industrializing economy, workers transition from agriculture to service or productive sectors; this trend underscores deeper labor market issues.
The Additional Challenge of AI
These challenges are further complicated because one of the main employment-generating sectors, the software industry, is facing business model disruption due to Artificial Intelligence (AI). The software sector has been a cornerstone of India’s middle-class aspirations for three decades.
A recent report from Wall Street bank Goldman Sachs indicates that AI threatens to displace between 8 to 12 percent of non-agricultural jobs in India. The impact is already being felt.
According to Niti Sharma, CEO of TeamLease Digital, a leading human resources company, in recent months the hiring rate in IT sectors has slowed to single digits, temporary contract workers have increased, salaries remain stagnant after years, and STEM graduates find fewer entry-level jobs than two decades ago.
Image source, India Today Group via Getty Images
Image caption, India’s $300 billion software industry is currently under pressure due to AI
One of India’s largest software companies, HCL Technologies, saw a recent employee protest break out during a Chennai event when hundreds chanted “We want pay raises” in unison, illustrating growing industry dissatisfaction and frustration.
“Graduates need to adjust their mindset to this new reality where office jobs are decreasing. Educational institutions must pivot from knowledge-centric learning toward skill-based training, as employers increasingly prioritize skills over degrees,” Sharma says.
In other words, young graduates may need to face the prospect that careers in air-conditioned offices could give way to trades such as plumbing, electrician work, and mechanics.
Prominent investment strategist Devina Mehra says the upcoming generation cannot realistically expect a better lifestyle than their parents.
She warns that a stall in income growth early in India’s development trajectory could become a “disaster,” and the Modi government must work hard to prevent it.
20 Shrawan, Kathmandu – A piece of SpaceX’s Falcon 9 rocket is set to collide with the surface of the Moon on Wednesday. The debris, roughly the size of a school bus and weighing about 4 metric tons (4,000 kilograms), has been drifting uncontrollably since last year. It was used to send Firefly Aerospace’s lunar lander toward the Moon in January 2025. According to U.S. time, the collision is expected at 2:35 a.m. Wednesday, which corresponds to approximately 1:20 p.m. Nepal time. The debris will strike the lunar surface at a speed of about 5,400 miles (8,690 kilometers) per hour, causing a plume on the Moon’s surface. The impact is expected to kick up a significant amount of lunar dust, which may reflect sunlight but will be difficult to observe with the naked eye from Earth, scientists say.
SpaceX has indicated that the debris is likely to impact near the Einstein Crater on the Moon’s western region, an area that is difficult to observe directly from Earth. The company has stated that this event was not planned. With the rocket’s second stage having exhausted its fuel, there is no possibility to control or redirect it. Typically, after a rocket delivers its payload into orbit, its remaining stages re-enter Earth’s atmosphere and burn up or fall into the ocean. However, during the January 2025 lunar lander launch, more thrust than usual was needed to reach the Moon, preventing the Falcon 9 second stage from re-entering Earth’s atmosphere. Since then, this debris has been orbiting uncontrollably among thousands of other space fragments.
Earlier this year, scientists determined that the rocket debris had entered an orbit ending in collision with the Moon. Its residual fuel had already been depleted. According to reports, Juliana Simon, Director of Science and the Dragon program at NASA, explained that the combined effects of solar activity and gravitational forces caused the debris to move toward the Moon. She emphasized that there is no immediate danger from this event, but it highlights the ongoing challenge of managing leftover rocket stages and other debris in space. Collisions involving space debris on the Moon are rare. Human-made objects striking the lunar surface have been infrequent — in March 2022, a Chinese rocket stage impacted the Moon, and in 2009, NASA deliberately crashed part of a rocket onto the lunar surface to study the resulting dust and debris.
Simon also noted that NASA and SpaceX are discussing measures to prevent uncontrolled impacts like this in the future. NASA’s Artemis program, which involves multibillion-dollar plans to establish a lunar base and send astronauts regularly by the end of this decade, increases the importance of managing space debris. Scientists warn that uncontrolled rocket stages and other orbital debris pose potential risks to existing equipment and future lunar missions as human activity on the Moon expands.
The Inland Revenue Department has urged all businesses to obtain a mandatory Permanent Account Number (PAN) and issue bills for their transactions. Starting from the current fiscal year 2083/84, the government has initiated a tax incentive gift program. Under this program, businesses operating without a PAN are now required to obtain one and issue bills for their market transactions.
Consumers who purchase goods or services worth more than NPR 100 will be eligible for daily gifts up to NPR 100,000 and up to NPR 1 million over 15 days when a bill is issued. As of Monday, approximately 1.1 million transactions have been recorded. According to the department, by noon on Monday, the number of consumer transactions reached 1,082,622. This figure includes transactions conducted via QR code as well as cash transactions for which bills were uploaded.
According to the department’s information officer, Keshav Raghuvanshi, between Shrawan 1 and 15, a total of 1,074,796 transactions made through QR code payments are eligible for the gift program. Since Saturday, the facility to upload physical bills has also been made available. The department plans to reward 15 individuals each day with NPR 100,000 and one individual with a special bumper prize of NPR 1 million during the first 15 days. The announcement of the program’s first prizes will be made soon.
The government is preparing to extend the 5 percent VAT exemption on electricity consumption from the current 50 units to 150 units. Preliminary discussions are underway between the Ministry of Energy and the Ministry of Finance, with an estimated annual revenue loss of approximately NPR 202 crore. Anshukiran Shahi, a member of the Electricity Tariff Review Committee, stated that providing consumers with cheaper electricity will likely increase consumption and positively impact the economy.
In the current fiscal year 2083/84 budget, the government announced a 5 percent VAT on electricity consumption exceeding 50 units, and now plans are underway to raise this limit to 150 units. The Ministry of Energy, Water Resources, and Irrigation has confirmed preparations for this change. Previously, an Electricity Tariff Review Committee, chaired by Electricity Authority Board member Anshukiran Shahi, was formed to evaluate electricity tariffs.
The Ministry of Energy has indicated informal talks are ongoing with the Ministry of Finance. Sources from the finance ministry have also confirmed plans to increase the VAT exemption threshold from 50 to 150 units. According to Shahi, “Our understanding is that providing consumers with cheaper electricity will lead to increased consumption, ultimately benefiting the economy.”
If the VAT exemption limit is raised to 150 units, annual VAT collection is expected to be limited to about NPR 1.022 billion. There are 5,308,561 domestic electricity consumers nationwide. When the exemption is up to 50 units, approximately 3,454,112 consumers are exempt from VAT, while 1,854,459 consumers pay the 5 percent VAT.
During discussions with Finance Minister Dr. Swarnim Wagle, bankers suggested creating an environment free from crackdowns on both borrowers and lenders to boost credit expansion.
Santhosh Koirala, President of the Nepal Bankers’ Association, cautioned that crackdowns on entrepreneurs harm the investment climate and make it difficult for banks to take risks in lending.
Bankers urged the government to facilitate the Power Purchase Agreement (PPA) process in the hydropower sector and expedite contract awards for large projects to stimulate the economy.
July 3, Kathmandu – In a three-hour meeting on Tuesday with Finance Minister Dr. Swarnim Wagle, bankers emphasized the need to foster an environment without crackdowns on either lending or borrowing, noting that such an environment would encourage loan growth. The bankers urged seriousness in improving the business environment.
When the Finance Minister questioned why loan demand had not increased despite lower interest rates, Santhosh Koirala, President of the Nepal Bankers’ Association, responded with explanations. Subsequently, at the minister’s request, banks presented suggestions for necessary facilitation. Each banker was given approximately five minutes to speak. They highlighted the need for support regarding loan recovery challenges, the psychological impact on industrialists and entrepreneurs, blacklisting issues, and management of non-performing loans.
Koirala expressed dissatisfaction with the current business environment, pointing out that actions like crackdowns and raids weaken investment prospects. He urged serious reflection on such activities targeting industrialists and entrepreneurs.
“These actions instill fear among industrialists and entrepreneurs,” Koirala told the Finance Minister. “Under such circumstances, banks face difficulties in deciding whom to grant loans.”
“It’s difficult to lend, yet also difficult not to lend,” Koirala added. “When both lenders and borrowers are subject to punitive actions, we become apprehensive as well. The concerned ministries need to facilitate this process. While penalties should be applied for genuine faults, it is inappropriate to create problems for everyone under normal circumstances.”
On a positive note, some improvements have been observed in the hydropower sector. Bankers suggested government facilitation to expedite decisions in the PPA process. As the government targets 10,000 megawatts of electricity production, banks are ready to invest in this sector. Interest also extends beyond domestic investors to Non-Resident Nepalis (NRNs) keen on investing here.
Bankers also urged the government to quickly complete contracts for major projects, which would generate employment and stimulate loan demand, thereby invigorating the economy. Koirala noted that increased activity in construction would also spur the cement and steel industries.
Finance Minister Dr. Wagle stated that without credit growth, national development is not possible. He emphasized the pivotal role of banks and expressed confidence that necessary support and facilitation will be provided.
During the discussion, banks underscored the need for facilitation in loan recovery, issues related to not obtaining home and road recommendations, and management of bad loans and provisioning. Koirala conveyed that if the Ministry of Finance provides such facilitation, loan growth will increase and the targeted 7 percent economic growth can be achieved. He also conveyed bankers’ readiness to support the government’s efforts.
