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Four Nepalis including three of the same family died in a jeep accident in Shimla, India on Monday.

The deceased have been identified as Rajesh Bista (37), Dilli Bahadur Shahi (47), Ekendra Shahi (37) and Laxmi Shahi (24) of Kumakh Rural Municipality-4 of Salyan.

The incident occurred while they were heading towards the workplace. All of them died on the spot, it has been learnt.

The Gen Z martyrs were cremated with state honors on Tuesday.

Finance Minister Kulman Ghising and Home Minister Om Prakash Aryal draped the national flags over the bodies of the deceased at Pashupati Aryaghat this afternoon.

Before the cremation, a funeral procession was taken out from the Maharajgunj-based Tribhuvan University Teaching Hospital.

A contingent of Nepal Army offered a guard of honor to the martyrs.

Earlier, the government had decided to declare those who died during the Gen Z protests as martyrs, build a Gen Z Memorial Park in their name, and provide in compensation Rs 1.5 million each to the families of the deceased.

The Ministry of Finance has formed a three-member taskforce to find budget resources for the reconstruction of physical structures damaged during the Gen Z movement and for the upcoming House of Representatives election scheduled for March 5, 2026.

The taskforce comprises head of the Budget and Program Division, Suman Dahal, the head of the Foreign Aid Coordination Division, Dhaniram Sharma, and the head of the Revenue Management Division, Uttar Kumar Khatri.

Spokesperson of the Ministry of Finance, Tanka Prasad Pandey, said the taskforce has been formed to conduct an internal study on how to manage resources by cutting some plans and programs included in the current budget.

"The budget is needed for the election and reconstruction. A taskforce has been formed to study how to manage within the current budget the resources needed for the elections and reconstruction, and to identify potential areas," spokesperson Pandey said.

According to him, some projects and programs in the budget will have to be slashed. The taskforce has the mandate to determine the priorities for that purpose.

On Monday, newly appointed Finance Minister Rameshwar Prasad Khanal, while assuming office, stated that plans and programs that have been included in the budget through political pressure, those plans and programs inadequately prepared, and fragmented plans and programs in the budget for the current fiscal year 2082/83 would be cut.

The finance minister had stated that the government could raise about 100 billion rupees for elections and reconstruction through cuts in the plans and programs included in the current budget, without bringing in a supplementary budget.

Heroes for Life, an Israeli NGO, conducted a two-week volunteer mission across eight government and public schools in Kathmandu Valley as well as in Tulasi Foundation. A total of 68 volunteers took part in the program.

The delegation was divided into two groups of 34 each, working in four schools per group. The two delegations honored the memory of First Sergeant Amit Most, who was killed in the October 7 Hamas Terrorist attack, and Tamar Ariel, who tragically lost her life while trekking in the Annapurna region of Nepal, reads a statement issued by the Israeli Embassy.

The mission focused mainly on introducing fun and creative learning activities to encourage students to think outside the box and carrying out school renovation projects, including painting and creating artistic murals.

Each year, Heroes for Life returns to the same schools with different volunteers, bringing fresh perspectives and renewed energy to ensuring continuity and a lasting impact while also finding new schools to extend their volunteerism. This year, three more schools were added to the program, further expanding its outreach, according to the statement.

In addition to school activities, the volunteers dedicated a full day to community service at the Tulasi Foundation in Lalitpur, led by Saru Subedi, who had previously worked in Israel. The volunteers spent the day with children under the care of the foundation, and engaged in painting and renovation of the organization.

This collaborative effort not only addresses educational goals but also fosters people-to-people connection between Nepalis and Israelis. The enduring friendship between Nepal and Israel has been showcased once again through “Heroes for Life.” 

Ambassador Shmulik Arie Bass, Ambassador of Israel expressed pride in the openhearted approach of the volunteers, the participating schools and the collaborating organization that helped facilitate the mission.  He said, “Israel will always be ready to assist Nepal. Giving to friends means much more to us, Israelis,” the statement further reads. 

Even as daily life gradually returns to normalcy after last week’s unprecedented violence and arson triggered by the Gen Z protests, the country’s stock market will remain closed for another week.  The Nepal Stock Exchange (Nepse) has announced that secondary market trading will not resume until Sept 21, citing ongoing instability and investor concerns.

Trading had already been suspended since Sept 9 after police crackdowns on protesters a day earlier left nearly 20 people dead. The protest and the resulting wave of destruction led Nepse to extend the trading halt, in line with the Securities Act, and with the approval of the Securities Board of Nepal (Sebon), said an official from the stock exchange.

Although the initial suspension was only until Sept 17, trading will reopen on Sunday only as the trading floors of Nepse open for trading from Sunday to Thursday only.

Earlier, different associations of stock market investors had urged the regulator to keep the market shut, warning that reopening during a fragile period would lead to irrational decisions and heightened volatility. In a joint statement, Share Investors Association Nepal, Nepal Capital Market Investors Association, and Independent Investors Association said the prevailing climate had seriously affected investor confidence and that halting trading was the prudent safeguard at the moment.

Market analysts have also said that since capital markets are highly sensitive to external shocks, even minor developments can trigger sharp swings. They cautioned against reopening amid ongoing protests.

Before the suspension, the Nepse index had fallen for five consecutive days, closing at 2,672.25 points on Sept 8. Nepse has mostly traded in negative territory since hitting a four-year high of 3,002.07 points on July 29. Since then, the benchmark index has already fallen by 329.82 points. Over Rs 530bn in market value has been wiped out since the last week of July when the bourse’s capitalization touched an all-time high of Rs 5,000bn.

Foreign Direct Investment (FDI) in Nepal presents a fascinating paradox for legal and business scholars. While the nation’s legislative framework, anchored by the Foreign Investment and Technology Transfer Act, 2019 (FITTA), signals a commitment to global capital, the practical FDI approval process in Nepal remains complex and, at times, opaque. For a foreign entity seeking to invest, understanding the legal nuances is as critical as identifying a viable business opportunity. Navigating the regulatory landscape requires a meticulous approach to documentation and a clear comprehension of the roles played by various governmental bodies, including the Office of Company Registrar.

The legal framework: Statutory instruments and jurisdictional mandates

The legal foundation for foreign investment in Nepal is principally established by the FITTA, 2019, and the Industrial Enterprises Act, 2020. FITTA broadens the definition of foreign investment beyond traditional equity to include loan investments, re-investment of dividends, lease financing, and investment in venture capital funds. It is designed to be the single-window law for foreign investment, though in practice, other ancillary laws like the Companies Act, 2006, and the Foreign Exchange Regulation Act, 1962, also come into play. A key aspect of FITTA is its jurisdictional delineation. The Department of Industry (DOI) is the primary approving authority for investments up to NPR 6 billion, while the Investment Board of Nepal (IBN) handles projects exceeding this threshold. This dual-jurisdiction model is intended to streamline the process by matching the approving body to the scale of the project. However, the requirement for subsequent approvals from the Nepal Rastra Bank (NRB) for fund repatriation and foreign loan approvals adds further layers of legal compliance. A savvy law firm in Nepal is essential to help investors interpret these regulations and ensure they are compliant from the very beginning.

FDI approval and company registration in Nepal: A step-by-step procedural blueprint

The FDI process is a sequential journey with distinct legal and administrative milestones. The first and most crucial step is obtaining the foreign investment approval, which is initiated by submitting a comprehensive application to either the DOI or the IBN. This application must include a detailed project report, outlining financial projections, technical feasibility, and the proposed investment amount. Once the investment is approved, the foreign entity proceeds with Company Registration in Nepal at the Office of Company Registrar. This is a critical juncture where the foreign company is formally incorporated as a legal entity in Nepal. The documents required for registration include the foreign company's Certificate of Incorporation, Memorandum of Association, Articles of Association, and a formal resolution authorizing the investment. Following company registration, the newly formed entity must register with the Inland Revenue Office for tax purposes and, if applicable, with the local ward office. Finally, a crucial step for a foreign investor is to register the foreign investment with the Nepal Rastra Bank, as required by the FITTA, to facilitate future repatriation of profits and capital. The assistance of a specialized Law firm in Nepal is indispensable during these stages to ensure all legal requirements are met and to minimize procedural delays.

Documentation and due diligence: The cornerstone of legal compliance

A successful FDI application in Nepal hinges on the meticulous preparation and submission of a comprehensive set of documents. Legal practitioners emphasize that due diligence is not merely a formality but a non-negotiable prerequisite. The application for foreign investment approval must include, among other things, a notarized copy of the foreign company’s incorporation documents, a letter of commitment from the investor, and a bank-issued Financial Credibility Certificate verifying the investor's financial capability. This certificate is particularly crucial as it provides a legal basis for the financial viability of the project. Furthermore, depending on the nature of the industry, an Environmental Impact Assessment (EIA) report may also be required. At the Office of Company Registrar, documents such as the Power of Attorney for a local representative and passport copies of the foreign directors must be submitted. The specific requirements for Company Registration in Nepal can be intricate and vary depending on the type of business vehicle (e.g., private limited company, public company, or branch office). It is here that the expertise of a law firm in Nepal becomes invaluable, as they can navigate the minutiae of these documentary requirements and liaise with the relevant authorities on behalf of the investor.

Statistical analysis and recent trends (2024-2025): A discrepancy between law and reality

A legal framework, however robust in its design, is ultimately judged by its practical outcomes. A review of recent FDI statistics reveals a persistent disparity between the stated legal intent and the actual flow of foreign capital. According to a report by the Nepal Rastra Bank, the FDI stock in Nepal reached Rs 333bn in the fiscal year 2023/24, a 12.7 percent increase from the previous year. While this indicates a growing level of total foreign investment, a more granular analysis shows that net FDI inflows were only Rs 8.4bn for the same period. This suggests that while commitments are being made, the actual injection of funds is a fraction of the approved pledges. For the month of July 2024, FDI inflows were $14.4m, which is a nominal increase compared to the same period in the previous year. However, according to the UNCTAD's World Investment Report 2025, FDI inflows to Nepal experienced a sharp decline in 2024, falling to $57m. This stark contrast between different data sources highlights the volatile nature of FDI in Nepal. For the beginning of the current fiscal year 2025/26 (mid-July to mid-August 2025), preliminary data from the Nepal Rastra Bank shows a foreign direct investment (equity only) of Rs 691.5m. These statistics underscore a critical legal and policy challenge: the legal mechanisms for approval and registration exist, but they are not translating into consistent, large-scale investment.

In conclusion, for foreign investors in Nepal, navigating the legal landscape requires a deep understanding of the FDI approval process in Nepal. While the Foreign Investment and Technology Transfer Act (FITTA) aims to attract foreign capital, persistent procedural hurdles exist, creating a gap between investment commitments and actual inflows. To ensure success, investors must meticulously handle documentation at the Office of Company Registrar and seek guidance from a specialized law firm in Nepal. The government's continued reform efforts to streamline inter-agency coordination are crucial. Ultimately, transforming Nepal into a regional investment hub depends on addressing these regulatory inefficiencies to build investor confidence and turn the country's potential into a profitable reality.

Prabin Kumar Yadav

Kathmandu School of Law

During President Donald Trump’s state visit to the UK, US and Britain are set to announce more than $10bn in deals, covering science and technology, civil nuclear energy, and defense cooperation, Reuters reported.

Trump will meet King Charles and Queen Camilla at Windsor Castle, attend a state dinner, and hold talks with Prime Minister Keir Starmer, including a joint press conference, before returning to Washington.

The visit highlights growing economic and strategic ties between the two nations.

US appeals court has blocked former President Donald Trump from firing Federal Reserve Governor Lisa Cook, the first attempt to remove a Fed governor since 1913, Reuters reported.

The court rejected the Justice Department’s emergency request to lift a previous order that kept Cook in her role, allowing her to stay ahead of a key Fed meeting expected to cut interest rates. A lower court had ruled Trump’s allegations of past mortgage fraud likely didn’t meet the “for cause” standard required under the Federal Reserve Act.

The 2‑1 decision, with Biden-appointed judges in the majority, leaves Cook in place for now and highlights the limits of presidential power over independent central bank officials, according to Reuters.