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Nepal reported 50 new Covid-19 cases on Friday.

According to the Ministry of Health and Population, 1, 467 swab samples were tested in the RT-PCR method, of which 35 returned positive. Likewise, 1, 347 people underwent antigen tests, of which 15 were tested positive.

The Ministry said that no one died of the virus in the last 24 hours. The Ministry said that 18 infected people recovered from the disease.

As of today, there are 297 active cases in the country.

The Nepal Stock Exchange (NEPSE) plunged by 8. 87 points to close at 2,028.77 points on Monday.

Similarly, the sensitive index dropped by 3. 17 points to close at 388. 62 points.

A total of 3,663,220 units of the shares of 221 companies were traded for Rs 1. 45 billion.

Meanwhile, Adhikhola Laghubitta Bittiya Sanstha Limited was the top gainer today with its price surging by 9. 99 percent. Likewise, Standard Chartered Bank Limited was the top loser with its price dropped by 4. 77 percent.

At the end of the day, the total market capitalisation stood at Rs 2. 89 trillion.

India has raised its basic import duty on gold to 12.5% from 7.5%, the government said in a notification on Friday, as the world's second biggest consumer of the precious metal tries to dampen its demand, Reuters reported.

India fufills most of its gold demand through imports, which were putting pressure on the rupee INR=IN which hit a record low earlier this week.

A six-year-old girl, who was critically injured in a school bus hit at Rangeni in Morang on Tuesday, died during the course of treatment on Friday morning.

The deceased has been identified as Sunam Kumari Mandal.

Police said that she was hit by the bus of Mount Makalu Boarding School in Rangeli Municipality-6. Mandal was a student of the same school.

Incapacitated in the incident, she was rushed to the Neuro Hospital in Biratnagar for treatment.

Police said that four-year-old Ritik Mandal of Rangel-7, who sustained critical injuries in the incident, died on the same day.

The school bus hit Sunam and Ritik while they were heading towards their home after school.

NATO leaders concluded their three-day meeting in Madrid Thursday with the Western security alliance strengthening its defense against Russian aggression, warning of global challenges posed by China and inviting neutral countries Finland and Sweden into the group, Voanews.com reported.

US President Joe Biden described the summit as “historic.”

“The last time NATO drafted a new mission statement was 12 years ago,” Biden said, referring to a document also known as the alliance’s Strategic Concept.

“At that time, it characterized Russia as a partner, and it didn't mention China. The world has changed, changed a great deal since then, and NATO is changing as well. At this summit, we rallied our alliances to meet both the direct threats that Russia poses to Europe and the systemic challenges that China poses to a rules-based world order. And we've invited two new members to join NATO,” Biden said.

Biden reiterated that Russian President Vladimir Putin’s war on Ukraine has only strengthened NATO.

“He tried to weaken us, expected our resolve to fracture but he's getting exactly what he did not want,” Biden said. “He wanted the ‘Finland-ization’ of NATO. He got the ‘NATO-ization’ of Finland.”

On Wednesday Putin dismissed the imminent expansion of the Western alliance.

“With Sweden and Finland, we don't have the problems that we have with Ukraine. They want to join NATO, go ahead," Putin told Russian state television.

“But they must understand there was no threat before, while now, if military contingents and infrastructure are deployed there, we will have to respond in kind and create the same threats for the territories from which threats towards us are created,” he warned.

As it sets to expand, NATO leaders agreed on a massive increase in troop deployments across Europe. A total of 300,000 soldiers will be placed at high readiness across the continent starting next year to defend against potential military attacks by Moscow on any member of the alliance – what Secretary General Jens Stoltenberg characterized as “the most serious security crisis” since the Second World War.

To bolster NATO’s defense, the United States is also set to establish a permanent headquarters for the U.S. 5th Army Corps in Poland, add a rotational brigade of 3,000 troops and 2,000 other personnel to be headquartered in Romania, and send two additional squadrons of F-35 fighter jets to Britain.

Reaffirming commitments made by other Western leaders, Biden said the U.S. will stand firm against Russia’s aggression. He offered little indication the conflict would conclude anytime soon, suggesting that Americans would have to bear high gas prices longer.

“As long as it takes, so Russia cannot in fact defeat Ukraine and move beyond Ukraine," he said.

The main opposition CPN-UML boycotted the clause-wise discussion on the Finance Bill 2079 in the National Assembly.

The UML lawmakers obstructed the meeting soon after it started.

As soon as National Assembly Chairman Ganesh Timilsina gave time to Finance Minister Janardan Sharma to present a proposal asking to start clause-wise discussion on the Finance Bill 2079 endorsed by the House of Representatives with a message, UML lawmakers stood from their seats in a gesture of protest.

Later, Timilsina gave time to UML lawmaker Bhairab Sundar Shrestha to speak.

He said that they would not take part in the discussion until Finance Minister Sharma resigns from his post.

The lawmakers walked out of the hall after lawmaker Shrestha said that the party had decided not to take part in the discussion on the proposal presented by Minister Sharma.

The UML had been demanding resignation of Sharma saying that it is not morally appropriate for him to remain in the post after questions have been raised pertaining to changing tax rates on the eve of the budget presentation.

The World Bank today approved $1.03 billion of financing to help improve regional trade in Bangladesh and Nepal by reducing trade and transport costs and transit time along the regional corridors.

The Accelerating Transport and Trade Connectivity in Eastern South Asia (ACCESS) Program Phase 1 will help the respective governments address the key barriers to regional trade ─ manual and paper-based trade processes, inadequate transport and trade infrastructure, and restrictive trade and transport regulations and processes.

The Phase 1 program will help replace lengthy manual and paper-based trade processes with digitized automated solutions in Bangladesh and Nepal. The automation will enable faster border crossing times and install electronic tracking of truck entry and exit, electronic queuing, smart parking. The program will also help improve selected road corridors and upgrade key land ports and custom infrastructure, while ensuring green and climate-resilient construction. This will help the integration of landlocked Bhutan and Nepal with the gateway countries of Bangladesh and India.

"Regional trade offers enormous untapped potential for the countries of South Asia. Today, regional trade accounts for only 5 percent of South Asia’s total trade, while in East Asia it accounts for 50 percent,” said Hartwig Schafer, World Bank Vice President for South Asia. “South Asia can boost economic growth significantly and create opportunities for millions of people by increasing regional trade and connectivity.”

The $753.45 million ACCESS Project in Bangladesh will upgrade the 43 Km two-lane Sylhet-Charkai-Sheola road to a climate-resilient four-lane road, connecting the Sheola Land Port with the Dhaka-Sylhet Highway. This will cut down travel time by 30 percent. The project will support digital systems, infrastructure, and more streamlined processes at Benapole, Bhomra, and Burimari land ports, the three largest land ports in Bangladesh handling approximately 80 percent of land-based trade. It will also support the modernization of the Chattogram customs house which handles 90 percent of all import/export declarations in Bangladesh.

“While the trade between Bangladesh, Bhutan, India, and Nepal grew six times from 2015 to 2019, the unexploited potential for regional trade is estimated at 93 percent for Bangladesh,” said Mercy Tembon, World Bank Country Director for Bangladesh and Bhutan. “The project will help Bangladesh improve regional trade and transport and automation of processes will build resilience to crises like the COVID-19 pandemic.”

The $275 million ACCESS Project in Nepal will upgrade 69 km two-lane Butwal—Gorusinghe—Chanauta road along the East-West Highway to a climate-resilient four-lane highway. This is expected to reduce travel time by 30 percent, thus providing better access to India’s western seaports. The project will construct market areas along the highway with dedicated spaces for women entrepreneurs and traders to ensure that women can benefit from the enhanced economic opportunities. It will also support capacity building and digital system to enhance trade and customs processes at Birgunj and Bhairahawa border points in particular. The program will also help advance Nepal’s preparedness and subsequent implementation of the Motor Vehicle Agreement (MVA). 

“Nepal has large untapped potential for regional trade and exports. Low regional trade is often a result of the high cost of connectivity,” said Faris Hadad-Zervos, World Bank Country Director for Maldives, Nepal, and Sri Lanka. “The project will help unlock Nepal’s economic potential through better connectivity and trade, both between the provinces as well as regionally among Nepal and other countries to support a green, resilient, and inclusive development.”

“It is highly critical to ensure trade growth, long-term sustainability and resilience of investments, while minimizing actual degradations on ecosystems along the Nepal’s road network, which carries 90 percent of passengers and goods movement,” said Oceane Keou, World Bank Task Team Leader of the Nepal Project and co-Task Team Leader of the Program. “The project will implement an innovative green and resilient highway corridor concept in Nepal, based on a landscape-level development approach.”

In the second phase, the program will include Bhutan.

“A key focus of the ACCESS program is to support solutions that can most effectively reduce dwell times at trade gateways, which is vital to lowering trade costs. This entails greater border cooperation and coordination within and between countries, cutting down the physical inspection of goods, and simplifying regulations and processes,” said Erik Nora, World Bank Task Team Leader of the program. “

The Kathmandu Metropolitan City (KMC) has prohibited begging in public places.

Issuing a notice on Friday, the metropolis said that begging will not be allowed in the streets, alleys, public places, parks, around government offices, public vehicles among others.

The City, however, said that the saints can ask for alms only by visiting the houses as per sanatan tradition.

The decision was taken on the basis of policies endorsed by the 11th session of the Municipal Council.

The decision will be implemented within 10 days, the metropolis said.

Those who violated the rule will be punished in accordance with Article 126 of the National Criminal Code 2074 BS, Local Government Operation Act 2074 BS and prevailing law, the notice said.