Skip to main content

Author: space4knews

Three Players Sent Off with Red Cards in FIFA World Cup 2026 Opening Match

Written by space4knews on . Posted in Sports. No Comments on Three Players Sent Off with Red Cards in FIFA World Cup 2026 Opening Match

News Summary
In the opening match of the FIFA World Cup 2026, three players received red cards. During the game, two players from South Africa and one from Mexico were shown red cards. The players who were sent off are South Africa’s Siphelo Sithole and Themba Zwane, along with Mexico’s Cesar Montes. Kathmandu, June 12.

In the opening match of the FIFA World Cup 2026, three players were issued red cards. The game, held at Mexico’s Aztec Stadium, saw the home team secure a victorious start by defeating South Africa, while three players had to leave the field due to red card offenses. One player from Mexico and two players from South Africa were sent off during the game.

In the 49th minute, South African player Siphelo Sithole received the first red card for a foul involving an opposing player, resulting in his dismissal from the match. Later, in the 84th minute, fellow South African Themba Zwane was also sent off with a red card. During added time in the second half, Mexico’s Cesar Montes was shown a red card and left the field. With a comfortable win in Group A, Mexico has secured 3 points and strengthened their chances of advancing to the knockout stage.

Ministry of Education Requests Home Ministry to Investigate Fake Document Case

Written by space4knews on . Posted in News. No Comments on Ministry of Education Requests Home Ministry to Investigate Fake Document Case

May 11, Kathmandu – The Ministry of Education and Sports has formally requested the Home Ministry to investigate an incident involving the issuance of visa recommendations for 10 foreign nationals based on a forged letter from Valmiki Vidyapith. According to ministry sources, this letter was sent following revelations about the case on Thursday.

Earlier, it was uncovered that the Ministry of Education had recommended visas to 10 foreigners to the Immigration Department using a counterfeit letter from the Valmiki Vidyapith campus located at Pradarshani Marg. Following this recommendation, the Immigration Department had issued visas to some individuals. However, when attempting to issue visas to additional applicants, it was discovered that the campus letter was fake.

In connection with this case, the Immigration Department has so far arrested two individuals and is conducting an investigation. According to the department’s Director General Ramchandra Tiwari, those detained include the person who forged the campus letter and submitted documents to the ministry to obtain visa recommendations, as well as a Chinese woman. Both detainees are identified as PhD doctor Subodh Shukla, who claims to be from Birgunj, and the Chinese woman, Chu Chiao. The Immigration Department took them into custody on Wednesday to proceed with the inquiry.

FIFA World Cup 2026: Mexico Defeats South Africa 2-0 in Enthusiastic Opening Match

Written by space4knews on . Posted in Sports. No Comments on FIFA World Cup 2026: Mexico Defeats South Africa 2-0 in Enthusiastic Opening Match

In the opening match of the FIFA World Cup 2026, co-host Mexico secured a comfortable 2-0 victory over South Africa. The game took place at Mexico’s historic Azteca Stadium, where the home side delivered an outstanding performance to claim all three points. Julian Quinones and Raul Jimenez each scored a goal to lead the team to victory. Kathmandu, June 12.

Julian Quinones opened the scoring in the ninth minute, giving Mexico an early lead. After South African goalkeeper Ronwen Williams lost control of the ball, a defender was unable to clear it properly, allowing Mexico to capitalize. Erik Lira provided the assist, which Quinones converted into a goal. Quinones had another effort in the 42nd minute, but it struck the goalpost and bounced out.

The Brazilian referee issued three red cards during the match. At the 49th minute, South Africa’s Siphelo Sithole received the first red card, forcing his team to play with ten men. In the 67th minute, Raul Jimenez doubled Mexico’s advantage with a goal. Later, at the 84th minute, South Africa’s Themba Zwane was also sent off after receiving a red card.

In added time, Mexico’s Cesar Montes was shown a red card and had to leave the field. The three red cards escalated the intensity and physicality of this opening match. Meanwhile, Mexico’s young star Gilberto Mora made his World Cup debut, becoming the youngest player from Mexico and all of North America to participate in the tournament. With this win, Mexico, positioned in Group A, has earned three points.

Government Clarifies It Has Not Imposed a Complete Ban on Indian Mango Imports

Written by space4knews on . Posted in Business. No Comments on Government Clarifies It Has Not Imposed a Complete Ban on Indian Mango Imports

Summary: The government has clarified that it has not imposed a complete ban on mango imports from India, but rather has set strict conditions to ensure biological safety. To protect domestic crops from pests and diseases, imported mangoes must be treated in hot water at 48 degrees Celsius for one hour. Due to the absence of a certification system in India to meet these requirements, mango imports have decreased drastically from 4,000 tons to approximately 400 tons in Nepal.

May 11, Kathmandu – With the arrival of the summer season, mangoes, regarded as the ‘king of fruits,’ have started appearing in Nepalese markets. Indigenous mangoes produced in various districts of the Terai region have gradually begun to capture the market. Currently, mangoes are available in Kathmandu Valley’s fruit and vegetable shops both ripe and raw.

Until last year, thousands of tons of affordable mangoes were imported from India at the start of the season, dominating the Nepalese market. However, the situation has changed somewhat. Recently, a message has been circulating widely on social media and some news outlets claiming that “the government has banned Indian mango imports!” Videos on Facebook and TikTok repeatedly show claims that “the government halted imports due to excessive pesticide residues in mangoes from the neighboring country, imposing a complete ban; consuming Indian mangoes now is equivalent to consuming poison.” Some have cited the Ministry of Agriculture, Forest and Environment as the source of this ban.

This misinformation has spread beyond Nepal, with Indian media outlets also reporting that Nepal has completely banned mango imports from India. Platforms including NDTV and Times of India have released reports, videos, and audio pieces under headlines claiming “Nepal bans Indian mangoes.” NDTV even highlighted Nepal’s Prime Minister Balendra Shah’s role, asserting that “the Balendra Shah government has imposed the ban on Indian mangoes.” These media channels have compared the situation to Japan’s mango import restrictions, portraying Nepal as dealing a ‘second blow’ to India. Many Indian news channels’ voiceovers and graphics suggest Nepal has adversely affected Indian farmers and strained diplomatic relations.

Indian mangoes have repeatedly faced import restrictions worldwide due to quality and pest problems. For instance, in 2014, the European Union halted imports after detecting the ‘fruit fly’ pest in Indian mangoes. Similarly, Japan banned imports for nearly twenty years before easing the ban under conditions in 2006; however, imports have recently been halted again due to processing issues.

What is Nepal’s stance? The government has categorically denied the reports of a complete ban on mango imports from India. The Plant Quarantine and Pesticide Management Centre under the Ministry of Agriculture has emphasized that only stringent conditions have been enforced, aligned with international laws and Nepal’s Plant Protection Act 2007, to safeguard domestic crops.

On Wednesday, the Centre issued a statement clarifying that there is no full ban on mango imports. Senior Crop Protection Officer Prakash Paudel explained that rumors circulating in markets and media are unfounded and that mango imports continue under regulated conditions.

“There is no outright ban on mango imports; some people spread misinformation which others then follow,” Paudel said. “This is a precautionary measure for biological security, not a total prohibition.”

What are the conditions and why the increased strictness? The government has imposed strict regulations because there is no certified system in India to prove that mangoes are free from harmful pests and have undergone ‘hot water treatment.’ According to the Centre, mangoes imported from India pose risks of serious pathogens such as Bactrocera carambolae, Bactrocera caryaei, Fistulococcus pokfulamensis (soft scale insect), Cryptorhinkus frigidus, Xanthomonas axonopodis pv. manihoteridic, Lasiodiplodia pseudotheobromae, Neofusicoccum mangiferai, and Colletotrichum siamense. These pathogens could cause severe damage to Nepalese mango cultivation.

“If these pests and diseases enter Nepal, our domestic mango farming could be completely devastated,” Paudel warned. “Therefore, we require proof that mangoes have been treated in water at 48 degrees Celsius for one hour before allowing their import. This is a matter of biological safety, not pesticide restrictions.”

The responsibility for food safety and quality inspection lies with the Food Technology and Quality Control Department, whereas quarantine enforces biological security measures. These regulations were enacted following a decision at the secretary level.

The new conditions have caused a significant drop in mango imports, as India lacks a system to certify treated mangoes. Consequently, traders find it difficult to comply. “We have not stopped mango imports that meet the requirements; imports are still continuing,” Paudel said. “However, since certification is not available in India, only a small portion of mangoes fulfill the conditions. Previously, 4,000 tons were imported; now only about 400 tons arrive.”

“Paying customs does not legitimize illegal mango imports; employees involved will face disciplinary action.” The Centre has warned that customs and quarantine procedures are distinct. Goods brought without completing quarantine or lacking proper clearance are illegal even if customs duties are paid.

“Importing without completing quarantine procedures or clearance and paying customs duties is entirely unlawful,” Paudel explained. “If customs clearance occurs without quarantine approval, responsible officials will be penalized.”

The tightening of import conditions and the reduced presence of Indian mangoes in markets have caused confusion among the public and media. “Only those not meeting the criteria are stopped; traders with valid permits under previous conditions still import mangoes,” Paudel said. “Permits are valid for up to three months, hence some vendors appear to be importing while others are not, creating a misconception.”

In previous years, large quantities of inexpensive Indian mangoes flooded the Nepalese market at the start of each mango season, which provided consumers with affordable fruit but impeded access for local farmers to a fair market. This year’s stricter enforcement, focused on disease and pest prevention, is expected to aid the protection of domestic mango production and help local farmers access markets.

Photo credit: Chandrabhadur Ale

Home Minister Gurung Inspects Balaju Holding Centers, Apologizes to Displaced Squatters

Written by space4knews on . Posted in News. No Comments on Home Minister Gurung Inspects Balaju Holding Centers, Apologizes to Displaced Squatters

May 11, Kathmandu – Home Minister Sudhan Gurung inspected two holding centers established for displaced squatters at the new Balaju Bus Park. During the inspection conducted on Thursday evening, he also apologized to the squatter families. According to information provided by his secretariat, Minister Gurung acknowledged that although the squatters’ settlements were removed before he assumed office, the government is now taking the issue seriously and working towards a solution.

“The government will ensure your proper arrangements under all circumstances, and currently our focus remains on this,” he stated to the squatters. During the inspection, the squatter families expressed their grievances and difficulties. They highlighted issues such as lack of access to education for their children and problems in receiving healthcare services. Following this, Home Minister Gurung directed that a police team be stationed at the holding centers and that continuous updates on health and emergency services be maintained, a directive confirmed by his secretariat.

Grandi Stars Advance to Finals in Nakhipot Open Basketball Tournament

Written by space4knews on . Posted in Sports. No Comments on Grandi Stars Advance to Finals in Nakhipot Open Basketball Tournament

News Summary

Reviewed.

  • In the women’s division of the 5th Nakhipot Open Basketball Tournament, Grandi Stars defeated Ballers 61–22 to reach the finals.
  • Grandi’s Vinamani Yonjan contributed 18 points in the match.
  • In the men’s category, IMS Kirtipur, Engineering, Nepal Army, and Budhanilkantha secured spots in the semifinals.

May 11, Kathmandu – In the women’s division of the 5th Nakhipot Open Basketball Tournament, Grandi Stars advanced to the final stage on Thursday.

At the organizer Nakhipot Youth Club’s covered hall in Nakhipot, Grandi crushed Ballers with a wide margin of 61–22. Vinamani Yonjan led the victorious side by scoring 18 points. Grandi will face winners from Training Ground and Budhanilkantha in the championship match.

On the men’s side, IMS Kirtipur defeated Dr. Airy 73–61, Engineering beat ISA Nepal 58–53, Nepal Army overcame KVC Hounds 89–76, and Budhanilkantha dominated Times 46–42, securing semifinal berths. Abhisesh Singh and Cyrus Thapa Magar from Kirtipur each scored 16 points, while Samir Upreti of Engineering contributed 21 points, Prajjwal Maharjan of the Army added 24, and Vijay Lama from Budhanilkantha scored 15 points.

The semifinals will pit Nepal Army against Budhanilkantha, while Engineering faces Kirtipur. Three semifinal matches are scheduled for Friday, including two in the men’s division and one in the women’s.

The Budget Is Law, Not Microsoft Word Text or Excel Formula

Written by space4knews on . Posted in Business. No Comments on The Budget Is Law, Not Microsoft Word Text or Excel Formula

Summary

  • The Ministry of Finance arbitrarily amended tax rates in the economic bill already registered in Parliament.
  • Amendments included major tax exemptions and other benefits in sectors such as hydropower, cinemas, and private school fees.
  • Finance Minister Dr. Swarnim Wagle claimed only technical errors were corrected in the budget presented to Parliament and criticized the media for exposing the discrepancies.

May 11, Kathmandu – On Wednesday morning at the Parliamentary Finance Committee, Finance Minister Dr. Swarnim Wagle said, “There were reports of 16 missing pages. Whether Nepali journalists can operate Microsoft Word or not, I don’t know. If you pull a document even by a millimeter, 15-20 pages can shift up or down. You can ask your children too. If you use Microsoft Word yourself, you would understand. …Even after explaining to you, no substantial changes have been made.”

After arbitrary amendments to tax rates in the budget tabled and registered in Parliament, the media brought these irregularities to public attention. However, the Finance Minister labeled the media exposing these errors as a ‘clique.’

Can the Ministry of Finance truly make even a ‘millimeter’ of change to the economic bill once it is registered in Parliament? The Finance Minister also submitted a list of amendments he claims were made in the parliamentary committee. But is it appropriate for the Ministry to unilaterally change a registered bill and inform the Parliamentary Secretariat?

To understand these issues, it is necessary to grasp the ongoing controversy and the budget process, which we will explore here.

Exemptions such as VAT relief for hydropower projects, tax breaks for electric vehicles (EVs), 10 years of income tax exemption for cinema hall operators, and tax deductions up to NPR 25,000 on student fees for parents were not initially part of the budget but were added later. These changes are not mere technical corrections but major amendments related to taxes, which are at the heart of the current controversy.

The central issue of debate focuses less on whether these budget provisions are pro-people or development-oriented and more on the arbitrary changes to tax rates.

There are four primary questions being examined:

1. The budget includes both the Finance Minister’s speech and the bill registered in Parliament. Can the Ministry make changes to the registered budget bill?

2. What are the differences between the budget presented by the Finance Minister in Parliament and the one posted on the Ministry’s website, and who benefits or is disadvantaged?

3. As the Finance Minister stated, were only minor technical errors corrected or was the core content actually altered?

4. Is this the first time such arbitrary amendments have occurred, or is it part of a recurring practice?

Let us begin with the current dispute.

What was in the budget presented to Parliament, and what changes did the Ministry make on its website?

On May 1, Finance Minister Wagle presented the budget and economic bill to Parliament, making it an official parliamentary document. The authority to amend it lies solely with Parliament.

However, the Ministry removed and re-uploaded budget files on its website at least four times, sometimes removing and then replacing them again. It was not only the files that changed; tax rates in seven categories were arbitrarily altered.

Here are a few key examples:

The Finance Minister has already briefed Parliament on the amendments, and our effort is to shed light on their impacts.

1. VAT Exemption in Electricity: From Small Consumers to Large Businesses

The bill registered with the Parliamentary Secretariat clearly stated in Schedule 1 that domestic consumers would receive VAT exemption for up to 50 units of electricity per month. However, all commercial users were to pay VAT.

This arrangement was visible in the initial bill posted on the website.

But after the third round of amendments, the provision changed noticeably on the website.

Amended Provision:

“VAT exemption will apply on electricity sold from one electricity business to another.” In other words, producers of hydropower will not pay VAT on electricity sold to Nepal Electricity Authority, while domestic consumers must pay VAT on electricity usage beyond 50 units.

This provoked opposition, as producers wanted VAT exemption to reduce production costs, but now only the public would bear VAT on electricity.

2. Ten-Year Income Tax Exemption for New Cinema Halls

This provision was not part of the budget originally submitted in Parliament but was later added on the Ministry’s website. Cinema halls opened outside metropolitan areas and agricultural lands would receive ten years of income tax exemption.

While this appears to promote the film industry in rural and suburban areas, critics argue that a government that levies taxes on education and health sectors giving such a long tax exemption to the entertainment industry is policy-wise questionable.

The Finance Minister said many subjects mentioned in his budget speech are missing from the economic bill; why then focus so much on cinema halls?

3. Income Tax Deduction on Private School Fees

Not included in the registered bill, the Ministry amended the tax schedule to permit parents to deduct 25% or up to NPR 25,000 of tuition fees paid annually from taxable income, while the remainder is taxable.

Simply put, parents may reduce up to NPR 25,000 in school fees from their taxable income.

This was added through a revised file, not in the original budget.

4. Doubling Customs Duty on Briefcases, Wallets, and Suitcases

Previously, these items attracted a 15% customs duty; now, the Ministry increased it to 30%. Again, this amendment was added on the website, not in the original bill.

5. Different Road Construction Fee for Electric Vehicles (EVs)

The economic bill initially set a 5% fee on all electric vehicles, but later the fee for EVs up to NPR 20 million in value was reduced to 2.5% through amendments.

This grants significant discounts on higher-value imports. Yet, the Finance Minister claims no changes were made to the full budget report.

6. Exemption of Clean Infrastructure Investment Fee

A new exemption for clean infrastructure investment fee was included by scrapping the internal fee for EVs. Such matters should be addressed through legislation.

7. Petrol Tax: Fixed Amount or Percentage?

The economic bill imposed a 10% green tax on petrol and diesel, but the amendment changed it to a fixed NPR 10 per litre tax. This shift is not a minor technical correction.

Can the Finance Minister amend the budget after it is tabled in Parliament?

A budget is not merely the Finance Minister’s speech; it is law once registered in Parliament. It binds the country’s financial regulations, including the government itself. It is neither Microsoft Word text nor an Excel formula where edits can be easily made. The Finance Minister cannot change even a comma or a full stop in the bill once tabled in Parliament. However, Minister Wagle’s seven major changes have sparked controversy.

He argues, “Previous Finance Ministers have done the same.” Yet history shows that when the media questioned such actions, some ministers resigned and parliamentary investigation committees were formed.

From Dr. Ram Sharan Mahat to Dr. Yubaraj Khatiwada, Bharat Mohan Adhikari, Vishnu Poudel, and others, ministers have been held accountable through continual media scrutiny. There is no evidence that any journalist is a member of a mafia.

It is also important to acknowledge that senior journalist and lawmaker Sumnima Udas, from a political party, has actively questioned and ensured public accountability.

In Nepali society, being educated and being aware are different. A sharp grandmother who never attended school can manage a large household, while PhD holders sometimes cause family disputes. The Finance Minister needs to truly understand his role.

Court Orders Release of Six Accused in Cooperative Fraud Case on Bail of NPR 82.4 Million Including Journalist Girir

Written by space4knews on . Posted in News. No Comments on Court Orders Release of Six Accused in Cooperative Fraud Case on Bail of NPR 82.4 Million Including Journalist Girir

May 10, Pokhara – The District Court of Kaski has ordered the release on bail of six individuals facing supplementary charges in the fraud case involving Mitramilan Saving and Credit Cooperative Limited in Pokhara.

Judge Shyam Prasad Shrestha’s bench on Tuesday ordered the defendants’ release upon payment of cash or bank guarantee equivalent to the claimed damages.

The total claimed damages from the six accused amount to NPR 82,462,203, according to Ram Bahadur Kisan, spokesperson of Kaski District Court. The court mandated the release of the accused upon payment of this amount as bail.

Specifically, Bharat Bhattarai is required to pay NPR 35,163,204 as compensation for embezzlement related to cooperative funds.

Journalist Arjun Giri has been assigned a bail amount of NPR 31,860,252. Mitramilan Cooperative’s Vice President, Vijay Lamsal, must post NPR 6,311,233 to secure release.

Further, Raju Baral, a shareholder and member of the cooperative’s managing committee, has a bail amount of NPR 3,680,239. Santosh Ghimire, an employee of the National Cooperative Bank, is assigned NPR 3,101,275, and shareholder Buddhi Sagar Paudel NPR 2,400,000 as compensatory bail.

The court order states that the accused have acknowledged their responsibility to return the depositors’ funds and have expressed readiness to refund the amount from their movable, immovable, and ancestral assets.

The fraud case against the cooperative was originally filed in 2023 BS (circa 1966 AD). The cooperative’s chairperson, Raman Paudel, and manager, Kiran Adhikari, are currently in pre-trial detention.

The court had directed a separate investigation to assess damages and file supplementary charges. According to Kamala Kafle, chief public prosecutor of Kaski, experts were tasked with quantifying the damages attributed to each defendant. Debtors were added as additional defendants as part of the expanded charges, and statements were re-recorded.

Kafle added that some accused have submitted additional repayments during the ongoing investigation.

The Government of Nepal initiated the cooperative fraud case following complaints from depositors that funds were being embezzled at Mitramilan Cooperative. All accused were arrested by December 2023 and remain in pre-trial detention as proceedings continue.

In a related previous development, former Cooperative Registrar of Gandaki Province, Uday Bahadur Parajuli, was released on bail of NPR 2 million in Chaitra 2080 (March 2024), following a high court order in Pokhara.

The court order notes that the accused have been detained for a considerable time, but the final hearing and evidence presentation are still pending.

Although the defendants admit their involvement in cooperative business transactions, shareholding, and management committee roles, they deny charges of cooperative fraud, according to the order.

The accused have pledged to bear the liability to refund depositors’ money from their personal assets if necessary, the order further states.

The court concluded that there is no immediate risk of defendants fleeing, destroying evidence, or obstructing the investigation. It also considered recent amendments to the Cooperative Act facilitating settlements in some fraud cases and the increasing likelihood of refunding complainants.

The issue surfaced after depositors complained they were unable to withdraw their savings and that the cooperative’s financial condition was weakening. Subsequent investigations uncovered alleged embezzlement and irregularities in financial accounts involving management and board members.

Initial charges were filed against 33 individuals, including directors, officials, employees, and debtors, after 714 depositors lodged complaints claiming they were unable to recover NPR 317.8 million. Later, supplementary charges against an additional six individuals were filed, claiming damages of NPR 82,462,203.

The investigation report highlighted that the cooperative’s savings were unsecured, depositors’ funds were at risk, and irregularities were detected in financial transactions. Based on the claim of embezzlement from the complainants, prosecution against the accused proceeded.

During the hearing of supplementary charges, the court found clear individual liabilities of the accused and their commitment to pay compensation. However, noting that the case’s final resolution will require more time, the court deemed continued detention unnecessary.

The court ordered that defendants who fail to provide cash or bank guarantees equal to the claimed damages must remain in custody at Kaski prison.

Supplementary charges also implicated debtors, with 60 individuals named as additional defendants in the Mitramilan Cooperative case.

The case originally involved depositors claiming they were unable to recover NPR 317.8 million from the cooperative. Initial legal action targeted 33 persons, and after supplementary investigation, six more were charged with a compensation claim exceeding NPR 82 million.

FIFA World Cup 2026 Opening Ceremony Held in Mexico City

Written by space4knews on . Posted in Sports. No Comments on FIFA World Cup 2026 Opening Ceremony Held in Mexico City

The formal opening ceremony of the FIFA World Cup 2026 took place at the Estadio Azteca in Mexico City with a special event. Following the inauguration, the first match of the tournament kicked off at the same stadium between co-host Mexico and South Africa. The ceremony featured vibrant performances reflecting Mexican culture, along with musical acts by international artists including Shakira, Burna Boy, and J Balvin.

On June 12 (29 Jestha in the Nepali calendar), Kathmandu – The opening event of the FIFA World Cup 2026 was successfully concluded at Mexico City’s Estadio Azteca. The ceremony included a variety of musical performances and officially marked the beginning of the tournament. The first match took place immediately after, with co-hosts Mexico facing off against South Africa on the same pitch.

The inauguration program showcased Mexican culture, traditions, and arts through a range of presentations. Indigenous artists performed traditional dances and cultural programs, accompanied by performances from well-known international and Latin American music stars. Prominent artists featured during the ceremony included Shakira, Burna Boy, J Balvin, Thaila Ayala, Alejandro Fernandez, Belinda, Danny Ocean, Lila Downs, Los Ángeles Azules, and Maná, all contributing to an unforgettable musical experience at the event.

I Am a Patriot

Written by space4knews on . Posted in Business. No Comments on I Am a Patriot

I am steadfast like the Himalayas, relentless like the mountains, and stable like the Terai plains. I am the blood of the Nepali mother. I am a devoted citizen. I am a patriot. Our ancestors loved this very soil. Our ancestors worshipped this land. I walk the path they taught. I am strong for my motherland. I am a devoted citizen. I am a patriot. Serving the nation is my duty. Serving the nation is my work. Serving the nation is my ultimate purpose. I am strong for my motherland. I am a devoted citizen. I am a patriot.

Securities Board Operations Halt Amid Absence of Executive Chairman, Stock Market Remains Unstable

Written by space4knews on . Posted in News. No Comments on Securities Board Operations Halt Amid Absence of Executive Chairman, Stock Market Remains Unstable

With no executive chairman appointed at the Nepal Securities Board for nearly two months, both the stock market and regular board operations have come to a standstill. Although the nomination committee recommended four candidates on May 18, the Council of Ministers has yet to appoint a chairman after 25 days. In the absence of a chairman, approvals for issuing new shares, bonus share listings, and merger processes of financial institutions have all been suspended.

On June 11, Kathmandu — The government’s failure to appoint an executive chairman for the Nepal Securities Board (SEBON) has led to widespread disruption in the capital market. Without the administrative chief, the board’s routine functions have been affected, sending negative signals throughout the capital market.

Following the people’s movement and the general elections that resulted in a clear majority for the Nepali Congress-led government, various officials, including those in regulatory bodies, were removed via ordinances. Just days before the ordinance was introduced, Santosh Narayan Shrestha resigned from his position as chairman of the Securities Board roughly two months ago. After Shrestha’s resignation, the government formed a recommendation committee to propose candidates for the chairmanship. Despite the committee recommending names 25 days ago, the board continues to lack leadership. Since those recommendations, the Council of Ministers has held five meetings but has not yet made an appointment.

On May 18, the recommendation committee put forward four names: Dr. Navaraj Adhikari, Vinay Dev Acharya, Mukund Kumar Kshetri, and Dr. Gopal Prasad Bhatt.

Committee member Bhuvan Kumar Dahal, who was part of the panel tasked with nominating candidates for chairman, stated, “The government has already received the recommended names, so the delay in the appointment process will be addressed by the government itself.” Government spokesperson and Education Minister Sashmit Pokharel has publicly acknowledged the delay in appointing the chairman. The absence of an executive chairman at the board has weakened investor confidence, which is directly reflected in the daily trading volume at the Nepal Stock Exchange (NEPSE). New public share issuances and rights shares approvals have not been granted.

Moreover, since some companies have not registered their bonus shares with the board, the listing of those shares on NEPSE has also been halted. Board employees report that several licensing processes remain stalled. A merchant banker explained, “Bonus shares approved at the annual general meeting have been submitted to the government, and taxes paid. Investors’ holdings are regularly maintained and registered with the board, but since the registration certificate is not issued, the listing on NEPSE has been stopped.”

The same merchant banker added, “Even after all procedures are completed, the absence of this letter prevents listing, leaving investors unable to sell their shares on the secondary market.” Another merchant banker noted that efforts to expand collective investment schemes have been impeded. More than half a dozen merchant bankers have applied to the board to increase the size of collective investment schemes, but these applications have been stalled due to no chairman being appointed.

Although the central bank had instructed that the merger of Pokhara Finance and Samriddhi Finance be completed within 30 days, the Securities Board has blocked the merger. Merchant bankers explain that the merger cannot proceed without the chairman’s approval, leading to ongoing issues.

The Ministry of Finance’s nominee was supposed to act as the chairman temporarily; however, an employee at the board stated that this has not materialized. “By law, the assigned individual should carry out the duties, but the ministry’s representative has not yet arrived and no progress has been made. Earlier, they were busy with budget preparations, and even now, they have not come,” the official said. The absence of a chairman also meant the board could not even formally celebrate its anniversary. Most regular tasks have been suspended, including staff training. Only tasks manageable by the executive director are being performed.

Board staff explained, “According to the Securities Act, the full-time executive chairman is granted greater authority. Many activities are halted without a full-time chairman. Since the chairman is the primary administrative officer responsible for daily operations, it is natural that delays affect work when a capable individual is not appointed.”

Nepal Basketball Team Ready to Depart for Serbia

Written by space4knews on . Posted in Sports. No Comments on Nepal Basketball Team Ready to Depart for Serbia

The Nepal basketball team is set to depart for Serbia to participate in the World School Basketball Championship scheduled from June 11 to June 17. Ramcharitra Mehta, member-secretary of the National Sports Council, has officially bid farewell to the team. The squad consists of eight players, accompanied by team chief Rajkumar Karki and coach Premsundar.

Organized by the Serbian School Sports Federation, the championship features players including Akar Shrestha, Adwabhitya Agrawal, Bipin Pokharel, Khayng Ling, Anand Pokharel, Prayas Thapa, Sushant Yadav, and Bardan Mall. The team is scheduled to depart on Friday, with Rajkumar Karki and coach Premsundar leading the delegation.

Trump Warns of Major Attack on Iran Tonight; Iran Alerts 22 Countries to Danger

Written by space4knews on . Posted in Business. No Comments on Trump Warns of Major Attack on Iran Tonight; Iran Alerts 22 Countries to Danger

May 28, Kathmandu – US President Donald Trump has indicated a strong possibility of a major attack on Iran tonight. Through the social media platform Truth Social, he claimed that the United States will launch a significant strike on Iran this evening. “The United States will conduct a powerful attack on Iran tonight. Iran’s navy, air force, radar, air defense systems, and most offensive capabilities have already been damaged,” Trump stated.
Furthermore, he asserted that in the near future, the US would gain control over Kharg, Iran’s main oil export hub, along with other oil infrastructures. Trump also emphasized that the United States will maintain complete dominance over Iran’s oil and gas markets.
In response to Trump’s statements, Iran has issued warnings to 22 countries across the US, Europe, and the Middle East, urging them to prevent targeting Iranian citizens on Iranian soil.

Government Prepares to Provide Three Types of Insurance Services to Displaced Persons in Holding Centers

Written by space4knews on . Posted in News. No Comments on Government Prepares to Provide Three Types of Insurance Services to Displaced Persons in Holding Centers

May 11, Kathmandu: The Office of the Prime Minister and Council of Ministers has announced rapid preparations to offer accident insurance, health insurance, and life insurance services to displaced squatters residing in holding centers across the Kathmandu Valley. The government is making arrangements to provide these insurance programs to ‘landless and unorganized settlers’ taking shelter in the designated holding centers.

Facilitated by the Prime Minister’s Office, the Ministry of Infrastructure Development is planning to provide collective and individual accident insurance coverage for residents of the holding centers, along with educational plans for children. To implement this, the Office of the Prime Minister and Council of Ministers, Ministry of Finance, Ministry of Infrastructure Development, Ministry of Land Management, Cooperatives and Poverty Alleviation, Ministry of Federal Affairs and General Administration, Nepal Insurance Authority, National Insurance Company, National Life Insurance Company Limited, Health Insurance Board, and Nepal Rastra Bank have all made necessary preparations.

Currently, approximately 1,488 displaced persons are sheltered in six holding centers within the Kathmandu Valley, according to the Prime Minister’s Office. Over 95 percent of these individuals have completed digital data collection. The government will fully cover all costs and premiums associated with the insurance programs, with the required funding already secured. The plan is to sustain this program continuously for at least 10 years.

World Cup: A New Geopolitical Arena

Written by space4knews on . Posted in International. No Comments on World Cup: A New Geopolitical Arena

Where is world football headed amid the contradictory dynamics of strict immigration policies expelling millions on one hand, and welcoming other countries through World Cup hosting on the other — in the dealings between former U.S. President Donald Trump and FIFA President Gianni Infantino? The summary of recent events focuses on the FIFA Club World Cup final held at MetLife Stadium in New Jersey, where Chelsea defeated Paris Saint-Germain to claim the title.

President Trump established separate task forces at the White House to prepare for the 2026 FIFA World Cup and the 2028 Olympics. The U.S. government deployed security agents even at sporting venues to ensure safety and enforce new immigration rules.

New Jersey, May 28, Kathmandu. The FIFA Club World Cup final took place in July 2025 at MetLife Stadium in New Jersey. Chelsea triumphed over Paris Saint-Germain (PSG) to claim the trophy. Yet, the scenes inside and outside the stadium showed this was not simply a football celebration.

On the high stage constructed on the pitch, Chelsea captain Reece James stood ready to lift the trophy, surrounded by teammates. After the trophy handover alongside FIFA President Gianni Infantino, U.S. President Donald Trump lingered on the stage while Infantino discreetly exited, creating a brief moment of confusion during the ceremony. Chelsea players exchanged glances, uncertain about Trump’s unexpected presence as they waited for him to descend.

Goalkeeper Robert Sánchez eventually signaled to James to raise the trophy, after which the team erupted around their captain, with Trump also standing among them — almost as if one of the team. The tournament’s best player, Cole Palmer, later commented, “I knew he was coming, but we didn’t expect him to stay on the stage until the trophy was raised. It threw me off a bit.”

The scene was further complicated by video footage showing Infantino handing Trump a medal, which Trump promptly pocketed. Even the trophy Chelsea lifted was a replica — Trump reportedly plans to place the real trophy in the Oval Office. U.S. Attorney General Pam Bondi and Homeland Security Secretary Kristi Noem, both known advocates of stringent immigration enforcement, were also present with the president. The ceremony resembled a MAGA-style spectacle.

Understanding the close Trump-FIFA connection requires looking back a decade. In May 2015, the U.S. Department of Justice exposed the largest corruption scandal in world football history. Swiss police raided the FIFA Congress in Zurich, arresting seven senior officials. FBI and IRS agents simultaneously searched the CONCACAF headquarters in Miami. Fourteen individuals faced charges of fraud, money laundering, and bribery, centered around the distribution of World Cup hosting and media rights, involving over $200 million in bribes.

This investigation painted FIFA as operating like a criminal organization. The decisions to award the 2018 and 2022 World Cups to Russia and Qatar respectively underwent intense scrutiny, revealing vote-buying and financial inducements. As a result, longtime FIFA President Sepp Blatter resigned in disgrace. In February 2016, Gianni Infantino was elected FIFA president on a reform and transparency platform, defeating Sheikh Salman bin Ibrahim Al Khalifa of the Asian Football Confederation. He promised to serve all and end FIFA’s crisis era.

Nine months later, in November 2016, Donald Trump was elected U.S. president. While the FBI investigation portrayed FIFA as an international crime example, the Trump administration took a different approach — instead of isolating FIFA, it opted to collaborate with its leadership, focusing on securing the right to host the 2026 World Cup.

Yet, a major hurdle was Trump’s executive order 13769 — the so-called “Muslim ban” of January 2017, which restricted travel from seven Muslim-majority countries. This policy faced widespread criticism and was seen by UEFA President Aleksander Čeferin and Infantino as jeopardizing the 2026 U.S. World Cup bid, since participating teams and players needed entry assurances.

The Trump administration responded by issuing letters to FIFA assuring that all eligible players, officials, and fans would be permitted entry without discrimination. It replaced the original ban with a softer, politically correct version, which Trump called “a slightly looser and politically correct version” of the initial order.

On April 10, 2017, the United States, Canada, and Mexico jointly announced their bid to host the 2026 World Cup. Jared Kushner, Trump’s son-in-law and senior advisor, played a pivotal role behind the scenes, lobbying Middle Eastern leaders including Saudi Crown Prince Mohammed bin Salman and Bahrain’s rulers to support the bid over Morocco’s. Kushner also repeatedly invited U.S. Soccer officials to the White House to strategize.

At the 68th FIFA Congress in Moscow on June 13, 2018, the North American joint bid won by a landslide with 134 votes against Morocco’s 65. Kushner further helped finalize arrangements by coordinating among FIFA President Infantino, local politicians, and New York business figures to promote MetLife Stadium as the 2026 final’s venue.

Prior to boarding Marine One in September 2019, Trump told reporters, “We have to extend my second term a little longer because I need it for two more years for 2026. I hope you will remember me in 2026.”

On January 20, 2025, Trump returned to the presidency. On his first day, he signed multiple executive orders from a temporary desk at Washington’s Capital One Arena — home to the Wizards and Capitals — to a cheering crowd of about 20,000 supporters. Sports were poised to play a significant role during his second term.

In just 10 months, he had attended ten major sports events including the Super Bowl, Daytona 500, NCAA wrestling championship, UFC fights, and international football finals. He also signed five sports-related executive orders — reviving Cold War-era “Presidential Physical Fitness Tests” and establishing dedicated White House task forces for the 2026 World Cup and the 2028 Summer Olympics.

Trump himself chaired the inaugural meeting of the newly formed 2026 World Cup Task Force in May 2025, which included Vice President J.D. Vance and most cabinet members, including Homeland Security Secretary Kristi Noem. Trump declared the upcoming World Cup would be “the biggest, safest, and most exceptional football competition” in history. Vice President Vance affirmed controlled borders for visiting tourists: “We want them to come, celebrate, watch the games — but they must return home after.” This reflected the administration’s core immigration policy.

Under Noem’s leadership, Immigration and Customs Enforcement (ICE) agents conducted raids nationwide, including cities, religious sites, and parking lots. By April 2025, the administration claimed to have deported 140,000 people and in August stated 1.6 million illegal immigrants had left the country voluntarily. These tough immigration policies even extended into football stadiums during the Club World Cup, where ICE agents maintained a presence. Their spokesperson told The Miami Herald, “ICE will work with the Department of Homeland Security and Justice to ensure security at major events connected to national security.”

In some cases, authorities used the 1798 Alien and Sedition Acts to deport suspects without due process, sending hundreds to high-security prisons in El Salvador.

In March 2025, Infantino told Trump, “America will welcome the world. Millions will come, and we will bring happiness and joy globally. Every person coming to America must feel safe and welcomed.”

Trump’s World Cup agenda has reshaped U.S. foreign policy. Analysts suggest, “Renaming the State Department the ‘Sports Department’ would not be far off.” Classified government documents and official interviews show how the State Department prioritizes the World Cup as a diplomatic opportunity. These include the “Sports Diplomacy Playbook,” which outlines how to leverage events like the World Cup and Olympics to boost America’s soft power and foreign investments while advancing some of Trump’s social policies.

In December, State Department staff received the 9-page playbook detailing how to maximize the so-called “Decade of Sports,” covering 2026 and later Olympics through 2034. Many U.S. embassies and diplomatic offices worldwide are hiring staff to facilitate visa processing for visiting fans. A new “FIFA Pass” visa system is under development, prioritizing interview scheduling for ticket holders.

The State Department faces two major challenges. Former U.S. Ambassador to Yemen, Gerald Feierstein, explained: “They face two types of spectators — foreign guests they eagerly welcome and anti-immigration Trump supporters. The department must balance these opposing pressures.”

The relationship between Trump and Infantino extends beyond personal friendship to a political alliance. Infantino attended Trump’s inauguration, met him in the Oval Office, and accompanied him on Middle East trips.

The “Play the Game” report analyzed their bond, portraying Infantino as an ambitious, shrewd political figure who partnered with Kremlin for the 2018 World Cup, Qatar for 2022, and later with Saudi Arabia’s Mohammed bin Salman. Supported by Saudi funding, Infantino has advanced large projects such as the expanded Club World Cup.

Their relationship is transactional — Infantino needs Trump’s blessing to secure FIFA’s presence in the U.S., while Trump gains a global festival to promote America’s triumph. The 2026 World Cup offers Trump a stage to claim credit for bringing the world to America and to showcase “American greatness” distinct from faltering Europe and unstable Latin America.

Following protests by NFL players, Trump had been viewed negatively by many athletes. The World Cup provides a counter-narrative: foreign players and fans will come to America voluntarily, compelled to appreciate its grandeur.

The plan also seeks to solidify American leadership in global sports governing bodies, aiming to block rival nations like China and Russia from gaining influence. Last September, foreign media reported the Trump administration prepared diplomatic moves to counter European efforts to exclude Israel from international competition. A State Department official told Sky News that any attempt to ban Israel’s national football team from the World Cup would be opposed by the U.S.

These developments have caused dissatisfaction within the global football community. FIFPro, the world players’ union, issued a strong statement after the 2025 Club World Cup, demanding “responsible leadership, not rulers.” They criticized Infantino for excluding players’ welfare discussions from the organization’s purview, highlighting his authoritarian tendencies.

Due to Trump’s harsh policies and budget cuts, serious doubts remain about America’s capacity to successfully host the 2026 tournament. According to the U.S. Travel Association, the nation’s aviation system is ill-prepared for the influx of tourists expected for the World Cup and the 2028 Los Angeles Olympics. Their February 2025 report calls for improvements in security, air traffic control technology, and visa processing.

Meanwhile, Trump’s initiation of a trade conflict with co-hosting neighbors Canada and Mexico contradicts the spirit of the World Cup. Diplomatic tensions could hinder security coordination. The State Department encourages diplomats to leverage upcoming sports events to attract business investment and engage U.S. citizens abroad. It also promotes the use of marquee events like the Super Bowl to elevate the American brand.

In a letter sent to embassies worldwide in mid-November, Secretary of State Marco Rubio highlighted Trump’s favorite sport, the Ultimate Fighting Championship (UFC), encouraging diplomats to draw inspiration from it to showcase America and its culture. The letter urged diplomats to “be creative.” Task force leader Rudy Giuliani remarked, “Many visitors have misconceptions about America, but we have a huge opportunity to show the true U.S.”