Submit your Article

The Nepal Stock Exchange (NEPSE) plunged by 32. 21 points to close at 2,719. 20 points on Tuesday.

Similarly, the sensitive index dropped by 3. 28 points to close at 456. 47 points.

A total of 15,559,683-unit shares of 303 companies were traded for Rs 8. 39 billion.

Meanwhile, Mahalaxmi Bikas Bank Ltd. (MLBL) was the top gainer today with its price surging by 9. 98 percent. Likewise, NESDO Sambridha Laghubitta Bittiya Sanstha Limited (NESDO) was the top loser as its price fell by 6. 69 percent.

At the end of the day, the total market capitalization stood at Rs 4. 51 trillion.

European Union ambassador to Nepal, Veronique Lorenzo, today paid a courtesy call on Minister for Energy, Water Resources and Irrigation, Dipak Khadka.

During the meeting held at the Singha Durbar-based Minister's office, matters relating to EU assistance to Nepal in energy, water resources and irrigation sector were discussed. They also touched on other various issues.

The EU has remained a reliable development partner of Nepal since the establishment of Nepal-EU diplomatic ties in 1974. 

On the occasion, Minister Khadka acknowledged the EU assistance to Nepal for the development of energy, water resources and tourism. He also highlighted the EU's cooperation in the development of clean energy, climate change response and economic stability.  

Sharing about Nepal's goal of producing 25,800 megawatts of electricity by 2035 AD with the EU ambassador, the Minister expected significant support from development partners towards that end.  The Renewable Energy and Energy Efficiency Bill has been presented to the parliament, he apprised her. 

The ambassador said the EU is committed to further cooperating with Nepal's efforts for climate change response and the development of alternative energy. She also lauded Nepal's energy cooperation with its neighbors.

According to her, the EU will ensure further loans and grants for Nepal's energy sector, highlighting the EU's interest in investing in Upper Arun and Dudhkoshi Reservoir-based Projects. The two exchanged dialogues for an inauguration of the Chilime-Trishuli Transmission Line developed with the EC investment, according to the Minister's Secretariat.

US President Donald Trump’s tariffs have spooked investors, with fears of an economic downturn driving a stock market sell-off that has wiped out $4 trillion from the S&P 500’s peak last month, when Wall Street was cheering much of Trump's agenda, Reuters reported.

A barrage of new Trump policies has increased uncertainty for businesses, consumers and investors, notably back-and-forth tariff moves against major trading partners like Canada, Mexico and China.

“We've seen clearly a big sentiment shift,” said Ayako Yoshioka, senior investment strategist at Wealth Enhancement. “A lot of what has worked is not working now.”

The stock market sell-off deepened on Monday. The benchmark S&P 500 fell 2.7%, its biggest daily drop of the year. The Nasdaq Composite slid 4%, its largest one-day decline since September 2022.

The S&P 500 on Monday closed down 8.6% from its February 19 record high, shedding over $4 trillion in market value since then and nearing a 10% decline that would represent a correction for the index. The tech-heavy Nasdaq ended Thursday down more than 10% from its December high.

Trump over the weekend declined to predict whether the US could face a recession as investors worried about the impact of his trade policy.

“The amount of uncertainty that has been created by the tariff wars with regard to Canada, Mexico and Europe, is causing boards and C-suites to reconsider the pathway forward,” Peter Orszag, CEO of Lazard, speaking at the CERAWeek conference in Houston, according to Reuters.

“People can understand ongoing tensions with China, but the Canada, Mexico, and Europe part is confusing. Unless that gets resolved over the next month or so, this could do real damage to the economic prospects of the US and M&A activity,” Orszag said.

Delta Air Lines on Monday slashed its first-quarter profit estimates by half, sending its shares down 14% in aftermarket action. CEO Ed Bastian blamed heightened US economic uncertainty.

Investors are also watching whether lawmakers can pass a funding bill to avert a partial federal government shutdown. A US report on inflation looms on Wednesday.

“The Trump administration seems a little more accepting of the idea that they're OK with the market falling, and they're potentially even OK with a recession in order to exact their broader goals,” said Ross Mayfield, investment strategist at Baird. “I think that's a big wake-up call for Wall Street.”

The percentage of total corporate equities and mutual fund shares that are owned by the bottom 50% of the US population, ranked by wealth, stands at about 1%, while the same measure for the top 10% of the population by wealth stood at 87%, according to Federal Reserve Bank of St. Louis data as of July 2024.

The S&P 500 tallied back-to-back gains of over 20% in 2023 and 2024, led by mega-cap technology and tech-related stocks such as Nvidia and Tesla that have struggled so far in 2025, dragging major indexes.

On Monday, the S&P 500's technology sector dropped 4.3%, while Apple and Nvidia both fell about 5%. Tesla tumbled 15%, shedding about $125 billion in value.

Other risk assets were also punished, with bitcoin dropping 5%.

Some defensive areas of the market held up better, with the utilities sector logging a 1% daily gain. Safe-haven US government debt saw more demand, with benchmark 10-year Treasury yields, which move inversely to prices, down to about 4.22%.

Investorunease

The S&P 500 has given up all gains recorded since Trump's November 5 election, and it is down nearly 3% in that time. Hedge funds reduced exposure to stocks on Friday at the largest amount in more than two years, according to a Goldman Sachs note released on Monday.

Investors had expressed optimism that Trump's expected pro-growth agenda including tax cuts and deregulation would benefit stocks, but uncertainty over tariffs and other changes including federal workforce cuts has dampened sentiment.

“It was the overwhelming consensus that everything was going to be this great environment once President Trump came into office,” said Michael O’Rourke, chief market strategist at JonesTrading.

“Every time you have structural change you're going to have uncertainty and you're going to have friction,” O'Rourke said. “It's understandable people are starting to be a little concerned and starting to take profits.”

Even with the recent sell-off, stock market valuations remain significantly above historic averages. The S&P 500 as of Friday was at just above 21 times earnings estimates for the next year, compared to its long-term average forward P/E of 15.8, according to LSEG Datastream, Reuters reported.

“Many people have been worried about elevated valuations among US equities for some time and looking for the catalyst for a market correction,” said Dan Coatsworth, investment analyst at AJ Bell. “A combination of concerns about a trade war, geopolitical tensions and an uncertain economic outlook could be that catalyst.”

Investors' equity positioning has fallen in recent weeks, dipping to slightly underweight for the first time since briefly hitting that level in August, Deutsche Bank analysts said in a note on Friday.

A further retreat to the bottom of the historic range for equities weighting, as seen during Trump's US-China trade war in 2018-2019, could drag the S&P 500 to as low as 5,300, or down another 5.5% from current levels, they added.

In another sign of growing investor unease, the Cboe Volatility Index on Monday reached its highest closing level since August.

The administration is “still trying to figure out how to define a win politically, economically, and what is the right time frame,” said Edward Al-Hussainy, senior interest rate and currency analyst at Columbia Threadneedle Investments. “And until they do that, it's going to be like this every week.”

Nepali food is most similar to Indian food which is probably why it appeals to us much more than other cuisines. Though often criticized as being spicier and oilier than the regular Nepali meals, Indian food still manages to crave a place for itself in our hearts because of its delectable flavors and aromas. The Covid-19 lockdown might have taught us a thing or two about making some Indian meals like butter chicken and biryani but with work from home no longer being the norm, do we really have the luxury to make a dish from scratch? However, there are some really good Indian restaurants in Kathmandu that can come to our rescue when we want to indulge in a good, masala-laden meal. Here are our top five recommendations in no particular order.

Third Eye Restaurant, Thamel

Located in JP Road in the heart of Thamel, Kathmandu, Third Eye Restaurant is a crowd favorite especially among tourists as the food isn’t spicy but is really flavorsome. It’s slightly on the pricier side compared to the rest of the places on this list but it’s worth the money. The tandoori chicken is just right, succulent and marinated with the right amount of spices. You won’t find better tandoori chicken anywhere in Kathmandu. The curries also hit the right notes and paired with rice or their fluffy naans, we guarantee you are in for a treat. They also have an array of really good beverages for you to wash down your meal.

Mirch, Jhamsikhel

This is a relatively new place in town that’s located at Jhamsikhel near the famous Ghangri Cafe. Though the menu is limited, the service is top notch and everything on the menu is crafted to perfection. The chef has managed to get the flavors and the texture of the dishes exactly right without anything feeling overpowering. The staff, the tableware, the service, and the food, everything is commendable. They really have paid attention to the details. The wait time for your order isn’t also long and the polite staff makes it a point to let you know beforehand if something is going to take a few minutes extra. A special mention to the interesting mocktails that are refreshing and unique. Our top recommendations are the Goan Fish Curry, Prawn Curry, Butter Chicken, and their signature biryani.

Haadi Bistro and Cafe, Boudha

Located in Boudha, a few meters before you reach the entrance gate of Boudhanath and on the opposite side of it, you are sure to miss this little place if you don’t look for it properly. It’s located on the first floor and though the front of the cafe is visible from the road you have to take the stairs tucked a few feet inside an alley. This is perhaps the most reasonable place, price-wise, on this list. But the food will have you going back for more. The biryani is mouthwatering and the portion is quite big, even for one person. The good thing about it is you can order different sides of salads according to your preference at nominal cost. The eatery also serves other snacks like tandoori chicken and chicken wings that you can have alongside the main meal. We recommend you go to Haadi Bistro and Cafe when you are really hungry as the food is so good that you won’t want to stop eating.

MTR, Kamaladi

If you love South Indian food and often go to places like Tip Top, Angan, or Gulab, then this is a must try. You won’t settle for elsewhere once you have been here as the food is as authentic as it gets. From great South Indian filter coffee and masala butter milk to curd rice and all kinds of dosas, MTR is a delight. The meals are wholesome, filling, and delicious. There’s also a variety of rice available like Pudina Rice, Lemon Rice etc if you are in need of something hearty. If you can’t decide what to have then the mini combos or mini thali sets are just right as they come with a little bit of everything. So, if you are around the Kamaladi area, make sure you visit MTR and try their range of drinks and food. Trust us, you will go around recommending it to everyone once you have been there.

Mughal Empire, Lazimpat

You will be spoilt for choice at Mughal Empire as there are lots of food items, both vegetarian and non-vegetarian, available at this popular restaurant that also has outlets in Jhamsikhel and Thamel. The food is slightly on the spicier side than other places on this list so make sure to tell the staff about just how spicy you would like your food to be when you order. The biryanis and kebabs are fantastic. Their paneer items are almost as good as their chicken items and we say almost because it’s an unpopular opinion and not because they can’t easily replace the chicken dishes on the menu. The dum aloo also deserves a special mention with the spices really seeping into the potatoes. We recommend this place if you want to treat yourself to a delightful assortment of tandoori items.

Dr Dilip Sharma has been appointed as the Director of Bir Hospital. 

The Ministry of Health and Population made his appointment on the post, endorsing the recommendations of a committee formed under the convenorship of vice chancellor of Nepal Academy of Medical Sciences (NAMS), Prof Dr Bhupendra Kumar Basnet. The Committee was formed to make recommendations for the appointment of director.

Dr Sharma is the 10th level employee at Bir Hospital, the country's oldest hospital.

Secretary of State Marco Rubio said on Monday that Ukraine would have to make concessions over land that Russia had taken since 2014 as part of any agreement to end the war, The New York Times reported. 

Rubio spoke as he was flying to Jeddah, Saudi Arabia, for talks with senior Ukrainian officials, and 10 days after a contentious White House meeting between President Trump and his Ukrainian counterpart, Volodymyr Zelensky. The Trump administration halted military aid to Ukraine after the blowup, which centered on Mr. Trump’s refusal to include any security guarantees in a proposed deal involving Ukraine’s natural resources.

“The most important thing that we have to leave here with is a strong sense that Ukraine is prepared to do difficult things, like the Russians are going to have to do difficult things to end this conflict or at least pause it in some way, shape or form,” Mr. Rubio told reporters.

Rubio declined to offer the outline of a potential agreement but made clear that concessions by both sides would be central to diplomacy.

“I think both sides need to come to an understanding that there’s no military solution to this situation,” Mr. Rubio said. “The Russians can’t conquer all of Ukraine, and obviously it’ll be very difficult for Ukraine in any reasonable time period to sort of force the Russians back all the way to where they were in 2014.”

Rubio added that it would be imperative in future talks with Moscow to determine what Russia was willing to concede, according to The New York Times. 

“We don’t know how far apart they truly are,” Rubio said.

The talks on Tuesday likely will not delve into the proposed agreement on Ukrainian natural resources that Mr. Trump had described as compensation for U.S. military support during the three years since Russia’s full-scale invasion. He has said that an American financial interest in Ukrainian fossil fuels and rare-earth minerals would provide Ukraine with implied security.

Although the United States has stopped sharing some intelligence with Ukraine, including satellite imagery, Rubio said it was still providing Kyiv with information that allowed it to continue defending itself against Russian attacks. He also said that there had never been a threat of removing Ukraine’s access to Starlink, the internet service company owned by Elon Musk’s SpaceX.

Even as the United States has been pressuring Ukraine in recent weeks, Mr. Trump has also threatened to impose additional sanctions on Russia in response to Moscow’s continued military activity. Rubio said that the United States was trying to demonstrate that it still had ways to coerce Russia in an effort to bring it to the negotiating table with Ukraine.

Rubio said he and Ukrainian officials would most likely discuss the resumption of military assistance during the meetings on Tuesday. He said the U.S. position on the issue could change if he believed that Ukraine was seriously committed to peace.

“I can assure you this, we will not be providing military aid to the Russians,” Rubio said.

The price of gold has dropped by Rs 500 per tola in the domestic market on Tuesday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the yellow metal is being traded at Rs 169, 900 per tola today. It was traded at Rs 170, 400 per tola on Monday.

Similarly, the price of silver has dropped by Rs 15 and is being traded at Rs 1,970 per tola today.

The Mustang Customs Office in Lomanthang-2, Nechung, located in the northern Korala region of Mustang bordering China, has faced significant challenges in revenue collection due to a lack of infrastructure and human resource.

The customs office has seven sanctioned posts, including one branch officer. However, only one non-gazetted officer, one accountant, and one office assistant are currently in place. A computer operator has recently been recruited on a contract basis. Although the Customs Department has assigned a customs officer as the office head, he has not been present in the work area. This shortage of personnel has severely impacted the office's ability to perform its duties effectively.

There is an urgent need to restore the previously sanctioned posts to ensure smooth operations. Due to limited manpower, customs work has been severely hindered, creating major operational challenges.

The Nepal-China Korala border crossing was opened year-round in October of last year to facilitate trade and the supply of daily necessities for residents of Upper Mustang. However, despite being operational for over a year and a half, the Customs Department has yet to build the necessary infrastructure and deploy adequate human resources.

Eight months after the border crossing was officially opened, the Immigration Department under the Ministry of Home Affairs established an immigration office in the Dasgaja area of Korala in October last year. The office was inaugurated by Home Minister Ramesh Lekhak, yet no staff has been deployed there either.

Even after one and a half years, legal complications and the lack of physical infrastructure have hampered revenue collection at the Mustang Customs Office. Current office head Hom Bahadur Bista stated that the absence of essential infrastructure such as food quarantine, animal quarantine, and beverage inspection quarantine facilities in Nechung has further impeded revenue collection from imported goods.

The Mustang Customs Office currently has only a planned quarantine facility in Nechung. The office also has a liaison branch in Jomsom, but preparations are underway to consolidate all staff in Nechung by abolishing the Jomsom branch.

From November to July of the current fiscal year, the customs office collected only Rs 198,000 in revenue. In contrast, Rs 874,000 was collected from November to July in the last fiscal year. According to Bista, revenue collection for the current fiscal year has been significantly lower, with figures standing at Rs 49,849 in August, Rs 40,755 in September, Rs 1,746 in October, Rs 34,934 in November, and Rs 71,629 in December. Only 22.79 percent of the previous fiscal year’s revenue has been collected in the first seven months of the current fiscal year.

Customs revenue in Korala is collected under various categories, including tax on sole proprietorships and personal income, excise duty on imports, customs duty on imports, other customs-related fees, proceeds from the sale of government property, administrative service fees, excise duty, and value-added tax (VAT) on imports.

Residents of Upper Mustang continue to import goods from Tibet’s Liji Bazaar in Korala, China. However, despite the border reopening, no revenue has been collected on the Nepal side, according to Bista.

Since the reopening of the border, approximately 3,000 residents of Upper Mustang have obtained Korala border passes. The District Administration Office, Mustang, has also started issuing Korala departure permits to some residents of Lower Mustang based on local government recommendations.