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US President Donald Trump on Monday said he would not allow any uranium enrichment by Iran, directly contradicting reports that US negotiators had offered Tehran limited enrichment rights.

“WE WILL NOT ALLOW ANY ENRICHMENT OF URANIUM!” Trump posted on Truth Social, pushing back against a proposal reportedly delivered by US envoy Steve Witkoff via Oman that would permit low-level enrichment for civilian use, according to Xinhua.

The White House defended the proposal as severe, but did not address the discrepancies. Iran criticized the US draft as containing "radical" demands and emphasized its stance on enrichment rights and securing clear sanctions relief.

Since April, the United States and Iran have undertaken five rounds of indirect nuclear talks, mediated by Oman, Xinhua reported.

The Nepal Stock Exchange (NEPSE) plunged by 35. 07 points to close at 2, 659.59 points on Tuesday.

Similarly, the sensitive index dropped by 6. 69 points to close at 454. 29 points.

A total of 15,538,474-unit shares of 315 companies were traded for Rs 6. 67 billion.

Meanwhile, Om Megashree Pharmaceuticals Limited (OMPL) and Pure Energy Limited (PURE) were the top gainers today with their price surging by 10. 00 percent.

Likewise, Saptakoshi Development Bank Ltd (SAPDBL) was the top loser with its price dropped by 4. 89 percent.

At the end of the day, the total market capitalization stood at Rs 4. 42 trillion.

The Department of Health (DOH) has recommended declaring HIV a national public health emergency in the Philippines due to a 500 percent increase in cases among youth aged 15 to 25, Xinhua reported.

DOH Secretary Teodoro Herbosa said the country recorded an average of 57 new HIV cases daily from January to March 2025 — the highest rate in the Western Pacific region. In comparison, daily cases were at 21 in 2014 and rose to 48 in 2024.

From January to April 2025, the average rose to 56 cases per day, 44 percent higher than the same period last year. The predominant mode of transmission is sexual contact, mainly among males having sex with males, according to Xinhua.

The Kanti Highway is to be closed for four days beginning tomorrow for the construction of a Bailey bridge.

The new infrastructure is to be set up over the Bagmati River at the border of the Bhimphedi Rural Municipality in Makawanpur and Baguwa of Lalitur district.

The Makawanpur District Administration Office informed about this by issuing a public notice today.

During the closure period (from June 4 to 7), potential commuters have been urged to use an alternative route.

The talks of forming an asset management company, or bad bank, has gained ground after the government announced its plans to establish an Asset Management Company (AMC) in the budget for the upcoming fiscal year to manage bad loans and non-banking assets held by banks and financial institutions. 

Presenting the budget for fiscal year 2025/26, Finance Minister Bishnu Prasad Paudel said, “an asset management company will be established to manage bad loans and non-banking assets of banks and financial institutions.” The plan also featured in the government’s policy and programs for 2025/2026.

The High-Level Economic Reform Advisory Commission, led by former Finance Secretary Rameshore Khanal, had also advised the government to form an AMC in light of deteriorating credit recovery rates and an alarming increase in distressed assets across the banking sector.

The concept of AMC started in the 1980s when the US government established the Resolution Trust Corporation (RTC) in 1989 at the height of the savings and loan crisis. Globally, bad banks gained prominence during the 2008 financial crisis. For instance, Ireland established the National Asset Management Agency (NAMA) in 2009, and Spain followed with SAREB in 2012 to resolve toxic assets in their financial systems.

In South Asia, India launched its own bad bank, the National Asset Reconstruction Company Limited (NARCL), in 2021 to help its banks recover from large-scale NPAs. Nepal’s planned AMC is expected to function along similar lines—isolating bad loans and toxic assets from the books of financial institutions so that banks can refocus on lending and core banking activities.

The concept of establishing an asset management company was proposed as early as 2001. At that time, a task force was formed, including former banker Parshu Kunwar Kshetry, Rajan Singh Bhandari, and former executive director of Nepal Rastra Bank, Bhismaraj Dhungana, to conduct a study.

No further action or decision was taken for 25 years. However, as non-performing assets in the banking system increased, the central bank unveiled a plan to open a bad bank through the monetary policy for the current fiscal year, where then-Governor Maha Prasad Adhikari said the central bank would initiate the process for setting up such a company.  In line with this, central bank officials have begun drafting a legal framework for the institution.

Canadian Prime Minister Mark Carney announced plans to fast-track major infrastructure projects in response to steep new US tariffs.

The move comes after a high-level conference with provincial and territorial leaders in which Carney outlined legislation to approve important "nation-building" projects such as pipelines, nuclear power plants, and trade corridors within two years, BBC reported.

Carney said the plan aims to strengthen Canada’s economy, reduce reliance on US trade, and reinforce national sovereignty. He called US President Donald Trump’s tariffs “unjustified and unlawful.”

Trade Minister Dominic LeBlanc will visit Washington to negotiate. Meanwhile, projects must demonstrate obvious economic value, adhere to environmental requirements, and engage Indigenous communities, according to BBC.

While premiers expressed strong support, some Indigenous leaders raised concerns over land rights and consultation.

The price of gold has increased by Rs 2, 900 per tola in the domestic market on Tuesday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the precious yellow metal is being traded at Rs 192, 700 per tola today. It was traded at Rs 189, 800 per tola on Monday.

Similarly, the price of silver has increased by Rs 55 and is being traded at Rs 2, 045 per tola today.

The bus park in Bhiman, Kamalamai Municipality-9, has not come into operation even two years after its construction was completed. Built at a cost of Rs 43.641m by the Bagmati Province government, the terminal is rapidly deteriorating due to neglect and lack of maintenance, locals say. Despite being fully constructed, the facility has never been used, and its structure is now crumbling and visibly worn.

The Bhiman Bus Park includes comprehensive infrastructure: parking for at least 100 vehicles, ticket counters, a waiting room, drinking water facilities, a flower garden, offices, employee quarters, restrooms for the disabled, a garage, service areas, solar lighting, separate toilets for men and women, and a Vishwakarma Baba temple. It is strategically located at the intersection of the Banepa-Sindhuli-Bardibas (BP) Highway and the Hetauda-Sindhuli-Gaighat (Madan Bhandari) Highway.

According to local resident Balram Ghimire, the double-lane terminal has not been handed over to the municipality, and is falling into disrepair as a result. Constructed through the Urban Development and Building Office, the bus park was inaugurated in Oct 2023 by then Bagmati Province Chief Minister Shalikram Jamkatel. Although it was scheduled to be handed over to Kamalamai Municipality on the same day, the absence of the mayor led to the handover being postponed. Since then, the municipality has refused to take ownership, citing incomplete procedures.

Durga Prasad Ghimire, chief of the Urban Development and Building Office, Sindhuli, said the handover letter was sent to the municipality two years ago, but it has yet to be accepted. “We wrote to the municipality asking them to take over and operate the bus park. However, they have neither responded nor initiated any operations,” he said. Ghimire added that the infrastructure is deteriorating because it hasn’t been used or maintained, and the contractor’s liability period for repairs has also expired.

Kamalamai Deputy Mayor Manju Devkota said the municipality will not take ownership until the damaged structures are fully repaired. “We had asked for all the damaged components to be restored, but they were never rebuilt after the inauguration and symbolic handover,” she said. Currently, the lights at the bus park are broken, windows and doors are unusable, and the roadbed has collapsed in several areas. The bus park was initiated to address traffic congestion and accidents caused by unorganized parking along the BP and Madan Bhandari highways. Construction began in fiscal year 2020/2021 under a contract awarded to Atreya Shree Krishna JV.