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Chinese Ambassador to Nepal Chen Song said that the Pokhara International Airport was constructed under the BRI project. Speaking at a program organized after the Sichuan Airlines plane from Chendu landed for the first time at the Pokhara International Airport on Wednesday, the Chinese ambassador claimed that the airport was built under the BRI project. Ambassador Chen said that the Pokhara International Airport was designed and constructed by the Chinese company. “The Pokhara International Airport was constructed by China. This was constructed under the BRI project,” he said. Although Nepal signed the BRI project in 2017, it has been controversial as it is not clear whether it is a grant or a loan. Former Prime Minister Sher Bahadur Deuba during a meeting with China's State Councilor and Minister for Foreign Affairs Wang Yi had said that it would not be acceptable for Nepal if the projects under the BRI are loan. The Nepal government has been urging the Chinese government to clarify whether the BRI Project is a loan or a grant. Earlier, the Chinese Embassy in Kathmandu had claimed that the Pokhara International Airport is a project under the BRI.      

With the economic downturn in the country badly affecting demand for credit and debt recovery becoming difficult, the profit of banks and financial institutions (BFIs) has taken a beating in the 10 months of the current fiscal year. The central bank statistics show BFIs’ net profit has dipped by around four percent in this fiscal. The net profits of BFIs (A, B, and C class financial institutions) amounted to Rs 62.606bn till mid-May this fiscal compared to Rs 65.113bn during the same period of the last fiscal year. The central bank data shows profits of commercial banks (class ‘A’ institutions) and development banks (class ‘B’ institutions) have plunged in the current fiscal year while finance companies (class ‘C’ institutions) have posted a surge in their profits. In the review period, the profit of commercial banks has declined by two percent in the current fiscal year. The net profits of the banks till mid-May stood at Rs 57.163bn compared to Rs 58.338bn in the corresponding period of the last fiscal year. The profit of development banks has plummeted by double-digit in the review period. The net profits of the class ‘B’ institutions dipped by 25.59 percent to Rs 4.297bn in the 10 months of the current fiscal year compared to Rs 5.775bn in the same period of the last fiscal year. However, finance companies have managed to post an increase of 14.58 percent in their profits. The net profit of the class ‘C’ institutions rose to Rs 1.146bn by mid-May 2023 compared to Rs 1.001bn a year ago. According to bankers, the rise in non-performing assets (NPAs) and increase in provisioning amount has hit the BFIs’ profit in the current fiscal year. They attribute the decline in profit to the slowing economic activities coupled with higher interest rates, and borrowers’ inability to repay debts. According to them, banks have been focusing more on loan recovery since debt servicing has become difficult of late. With the sharp increase in NPAs, banks have been forced to set aside more money for loan loss provisions. Among the 21 commercial banks, Nabil Bank has topped the chart, earning a net profit of Rs 6.12bn. Global IME Bank is ranked second with Rs 5.34bn followed by NIC Asia Bank with Rs 4.39bn. Muktinath Bikas Bank is way ahead of other development banks in profit earning in this fiscal. Of the 17 development banks in operation in Nepal, Muktinath Bikas Bank has posted a net profit of Rs 957.22m, followed by Garima Bikas Bank with Rs 690.16m and Shine Resunga Development Bank with Rs 618.33m. Among the finance companies, Capital Merchant Finance posted a profit of Rs 475.26m followed by Manjushree Finance with Rs 124.1m and Gorkhas Finance with Rs 105.3m.

Relief materials have been supplied to the flood and landslide victims of Taplejung district. The materials including clothing, tarpaulins, utensils and blankets have been sent by the Koshi Province government, and the Nepal Red Cross Society, said Chief District Officer Goma Devi Chemjong, also chair of the District Disaster Management Committee. Scores of families of Sidingwa Rural Municipality-6 have been displaced by flooding and landslides. Most of them are taking shelter in a local Nilgiri Secondary School, said local Kamal Kadariya. Three people have died and three others of a single family have gone missing in the disaster. The local health post in the village has been buried in a landslide, creating a shortage of medicines. Meanwhile, initiatives have been taken in distributing relief materials to the victims, said the district disaster management committee. A Disaster Management Committee meeting on Tuesday asked all concerned sectors to be ready for rescue efforts and relief distribution.

All the preparations for the 9th edition of the Annapurna Post Corporate Badminton have been completed. Deputy Director General of the Annapurna Media Network Bikash Shrestha said that all the preparations for the tournament to be held at the Covered Hall of the National Sports Council in Tripureshwor from June 21 to June 24 have been completed. “All the preparations for the tournament have been completed. The wait is over,” Shrestha said, adding, “More than 200 players will take part in the competition.” The tournament to be held with the technical support of Nepal Badminton Association will have seven events. Corporate houses, departmental teams and players from all the seven provinces will participate in the tournament. Winners of executive men’s single, executive men’s doubles and corporate doubles will be awarded with Rs 100, 000 each. The first runner-up will get Rs 50, 000 and second runner-ups will get Rs 25, 000 each. Similarly, the winners of men’s open single, women’s open single, mix doubles will be awarded with Rs 80, 000 and the second and third will get Rs 40, 000 and Rs 15, 000 each. Global IME Bank is the main sponsor and Honda Grazia, Everest Bank, DHI, Salt Trading Concern, Sagarmatha Lumbini Insurance, Nami College, Foodmandu, AV-Trace and Agro Fruit among others are the sponsors of the tournament.    

It’s been 12 years since Nepal and the United States signed the Trade and Investment Framework Agreement (TIFA) in 2011. TIFA is a trade deal that aims to establish a framework for expanding trade and resolving outstanding disputes between the US and other signatories of the agreement. For over a decade, several discussions have taken place between Nepal and the US to materialize the framework agreement. However, the two sides are yet to develop protocols with provisions on concrete steps that need to be taken to enhance trade and investment relations. “There have been discussions for preparing protocols of the framework agreement by taking concrete actions and formulating procedures in the last few meetings of the TIFA Council,” said a former joint secretary of the Ministry of Industry, Commerce and Supplies (MoICS). “However, no progress has been achieved in this regard so far.” The TIFA Council is a bilateral mechanism formed according to the TIFA framework agreement comprising representatives of each signatory. Nepal and the US held the sixth TIFA Council meeting on May 19 in Kathmandu. A senior MoICS official said that the issue of developing protocols didn’t emerge as a big issue during the meeting. “Signing the protocol of the TIFA is an important step in materializing the framework agreement,” he said. According to the former MoICS official, either party of the trade deal can initiate the process by drafting the protocol document and sharing it with each other. “Nepal itself can draft a protocol and share it with the US which will invite discussions on the matter in the upcoming meetings,” the former official said. The MoICS official also affirmed the suggestion saying that the draft of the protocols for TIFA could be prepared this way. During the latest TIFA Council meeting, Nepal shared its concern about the underutilization of the Nepal Trade Preference Program (NTPP), a duty-free regime for certain types of readymade garments (RMGs) and other exports of Nepal to the US market. According to the joint statement issued after the meeting, Nepal also expressed its interest in expanding the list of products eligible to receive tariff-free treatment under the program. The program which was endorsed by the US Congress and signed by then US President Barack Obama in 2016, is expiring on 31 Dec 2025. “Both governments affirmed the importance of the NTPP to the bilateral relationship and acknowledged the potential of the program to enhance trade between the two countries,” reads the joint statement. Nepal has not been able to take benefit from the US program as Nepali garment exporters say that most of the 77 goods on which duty-free access is available are not produced in Nepal. “There is no duty-free access to the US market for types of RMGs that we produce such as shirts, pants, and ladies' dresses which are also known as fast-moving garment items,” Pashupati Dev Pandey, President of Garment Association of Nepal told Annapurna Express in a recent interview. During the meeting, both countries discussed ways to increase dialogue on bilateral agricultural trade issues. “The United States also suggested that Nepal join the Agriculture Innovation Mission (AIM) for Climate, a program that increases investment in agricultural innovation for climate-smart agriculture and food systems,” the joint statement says. Government officials and experts say that TIFA protocols could help facilitate the timely implementation of trade and investment promotion-related measures taken by each side. During the sixth meeting of the TIFA Council, Nepal provided an update on recent efforts and initiatives taken to improve its trade and investment climate and reinforced its desire to attract additional foreign investment from the US. The council has been authorized to determine opportunities for expanding trade and investment, consider specific trade and investment matters of interest to the parties, consider capacity building, consider trade facilitation measures, identity and work to remove barriers impending trade and investments, and seek the advice of stakeholders on matters to the council’s works. “The protocols will provide specific procedures to address issues identified by the council,” the former MoICS official said.

The price of gold has dropped by Rs 800 per tola in the domestic market on Wednesday. According to the Federation of Nepal Gold and Silver Dealers’ Association, the yellow metal is being traded at Rs 111, 000 per tola today. It was traded at Rs 111, 800 per tola on Tuesday. Meanwhile, tejabi gold is being traded at Rs 110, 450 per tola. It was traded at Rs 111, 250. Similarly, the silver is being traded at Rs 1,430 per tola today.

Two persons died on the spot when a jeep they were traveling in met with an accident at Thuldhunga in Kathekhola Rural Municipality-5 of Baglung on Wednesday. The identities of the deceased are yet to be established, Madan KC, Information Officer of the District Police Office, said. The jeep fell some 500 meters down the road. A team of police has reached the accident site to carry out rescue operations.

I’m a 40-year-old married woman, and I’m not happy with my marriage. I feel sad, lonely, and frustrated. I often find myself yearning for emotional intimacy and connection with my spouse, but it feels like we’ve grown distant over time. We lack communication and understanding. He is always busy, either on his phone or with other things. These days, we fight over small things. I feel emotionally drained. How can I navigate these emotions and work towards rebuilding the bond with my husband? Are there any specific things that we can do to reconnect and strengthen our relationship?—A struggling wife Answered by Tashi Gurung, counseling psychologist, Happy Minds Communicating with your partner and expressing your feelings is the best way to help you cope with the ups and downs in your relationship. But first, let’s start by addressing what those feelings are. For communication to work well, you need to be clear about what you want to say. This self-awareness might help you communicate effectively.  Most of the time, when there is disagreement, anger dominates our feelings and behaviors. Instead of keeping our cool and speaking in a non-confrontational manner, we end up using assertive communication techniques. This might make the process of communicating worse for the both of you.  When that happens, your partner might feel like you are blaming him for everything and might not be open to communicating. Arguments will escalate, and the relationship between you two might worsen. But there are ways in which you can maintain being non-confrontational while also confronting your feelings. You can use phrases like ‘I feel unheard most of the time’ instead of ‘You never listen to me’ because using ‘I’ in phrases prevents accusatory communication. This method will encourage you to communicate your feelings rather than complain about your relationship.  Find an appropriate time to communicate. Remember to create a secure environment where you and your partner can talk about your feelings. It should feel like a safe space for both of you. Make sure that both of you have a positive state of mind and are looking forward to having a conversation. This way, both of you will be ready to keep an open mind while listening to each other. Also, it’s important to pay close attention to what your partner is trying to say. Make eye contact so that your spouse feels that his emotions are being validated. This way, he might reciprocate in the same manner.  Plan distraction-free time without any devices. You should try setting up a regular date night so you can spend time together and engage in real conversations. Plan engaging activities that encourage deep conversations where you can express your views, dreams, expectations, and worries. You can start with simple activities like going for a walk, cozy dates, cooking together, or organizing a trip.  From minor disputes to underlying issues like loneliness, resentment, insecurity, and childhood trauma, there can be many reasons behind you and your partner’s lack of intimacy. So to understand the underlying emotions and needs better, I advise you to seek the help of a marriage counselor. They can offer advice, assist in improving communication, and suggest other methods to strengthen your relationship.