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Prime Minister KP Sharma Oli has said that the construction of the cricket stadium in Kirtipur has reached its final stage.

Taking to his social site today, he mentioned that the contractor company is currently proceeding ahead with the work by paying compensation because they did not complete the construction of the stadium on time.

"Even while working in three shifts, there could have been delays due to the monsoon and other technical reasons. However, the government has now made provision for penalties and rewards to ensure results and maintain discipline in work, which is a positive step," Prime Minister Oli wrote on his social media wall.

He also mentioned that this system of reward and punishment is being implemented in other related public construction works as well.

CPN (Maoist Center) Chairman and former Prime Minister Pushpa Kamal Dahal has pointed out the need of taking labor and production together by building strong relationships with the people.

Inaugurating the 'YCL in labor and production' campaign organized by YCL Nepal Central Committee at Balkumari ground of Sunakothi in Lalitpur today, Chair Dahal urged YCL members to help stop possible destruction from incessant rainfall, flood and landslide.

"Conspiracy has been hatched to reverse the change and it can be made unsuccessful. Significant changes can be achieved with participation of youth. It should be forwarded as a campaign", he argued.

Vice-Chairperson Pampha Bhusal, In-charge of Bagmati Province Saral Sahayatri, central members Hari Dahal, Ramkaji Maharjan, among others were present on the occasion. 

YCL Nepal In-Charge Ram Prasad Sapkota 'Deepshikha' shared that the campaign would be launched across the country in Shrawan and Bhadra, adding the campaign has been launched in 50 districts today itself.

YCL Nepal would carry out activities giving priority to production, labor and disaster management, he opined.

Ukrainian President Volodymyr Zelensky has nominated former Prime Minister Denys Shmyhal as the new defense minister, submitting the proposal to parliament on Wednesday.

The move comes as part of a broader cabinet reshuffle following Shmyhal’s resignation, which triggered the formal dismissal of the entire government, according to Xinhua.

Zelensky also named Herman Smetanin, minister of strategic industries, to head the state defense conglomerate Ukroboronprom. The outgoing cabinet will remain in place until a new government is formed.

The Nepal Stock Exchange (NEPSE) gained 79.82 points to close at 2,874.60 points on Thursday.  

Similarly, the sensitive index surged by 11.83 points to close at 501. 10 points.

A total of 38,634,350-unit shares of 311 companies were traded for Rs 16. 59 billion.

Meanwhile, Trade Tower Limited (TTL) was the top gainer today, with its price surging by 10. 00 percent. Likewise, NIBL Stable Fund was the top loser as its price fell by 7.58 percent.

At the end of the day, total market capitalization stood at Rs 4. 78 trillion.

An explosive-laden drone crashed early Thursday near Erbil, the capital of Iraq’s Kurdistan region, with no casualties reported, according to the regional counter-terrorism directorate.

The crash comes amid a sharp rise in drone attacks across northern Iraq, mostly targeting oil fields operated by foreign companies. This week alone, facilities run by Norwegian firm DNO and US companies in areas including Faysh Khabur, Tawke, Baadre, and Duhok have been hit, according to Xinhua.

No group has claimed responsibility for the attacks.

Brazil has formally protested the US decision to impose 50 percent tariffs on all Brazilian exports from August 1, calling the move harmful to both economies and a threat to long-standing bilateral ties, according to Xinhua.

In a letter to US officials, Vice President Geraldo Alckmin and Foreign Minister Mauro Vieira expressed “indignation” over the decision, announced by US President Trump on July 9.

A Quaest poll shows 72 percent of Brazilians oppose the tariffs, with most fearing economic fallout. Over half back Brazilian President Lula da Silva’s call for reciprocal measures, as his approval rating sees a slight boost, Xinhua reported.

Meanwhile, the US has launched a probe into Brazil’s digital trade practices, claiming they disadvantage American businesses.

Havalah Hopkins rarely says no to the chain restaurant catering gigs that send her out to Seattle-area events — from church potlucks to office lunches and graduation parties, Associated Press reported.

The delivery fees and tips she earns on top of $18 an hour mean it’s better than minimum-wage shift work, even though it’s not consistent. It helps her afford the government-subsidized apartment she and her 14-year-old autistic son have lived in for three years, though it’s still tough to make ends meet.

“It’s a cycle of feeling defeated and depleted, no matter how much energy and effort and tenacity you have towards surviving,” Hopkins said, according to Associated Press.

Still, the 33-year-old single mother is grateful she has stable housing — experts estimate just 1 in 4 low-income households eligible for U.S. Department of Housing and Urban Development rental assistance get the benefits. And now Hopkins is at risk of losing her home, as federal officials move to restrict HUD policy.

Commercial banks have further lowered their interest rates on deposits. A study of the interest rates for the month of Shrawan (mid-July to mid-August) published by the Class ‘A’ banks shows the average interest rate on individual fixed deposits has decreased by 0.2 percentage points.

Out of the 20 commercial banks in the country, 14 have reduced their maximum deposit rates, while four have kept them unchanged and two have made a slight upward revision. Standard Chartered Bank Nepal Ltd offers the highest interest on deposits, while Prabhu Bank offers the lowest. Standard Chartered and Himalayan Bank are the only two banks that have raised their deposit rates for the next month. Machhapuchchhre, Global IME, NMB and Siddhartha Bank, on the other hand, have left their interest rates unchanged.

Nine commercial banks are offering individual fixed deposit rates of six percent or higher. Standard Chartered leads with the highest rate at 6.26 percent, followed by Everest Bank and NIC Asia at 6.25 percent each. Sanima Bank is offering 6.18 percent, while Machhapuchchhre, Prime Commercial, Global IME, and NMB Bank are each offering 6 percent

Similarly, ten banks are offering individual fixed deposit rates ranging between five percent and 5.9 percent. Siddhartha Bank and Kumari Bank are offering 5.75 percent and 5.61 percent, respectively. Rastriya Banijya Bank, Nabil Bank, Laxmi Sunrise, and Citizens Bank International each offer 5.5 percent. Agricultural Development Bank and Nepal Bank are providing 5.4 percent, while Nepal SBI and NIMB are offering 5.35 percent and 5.25 percent, respectively. At the lower end, Prabhu Bank offers the lowest individual fixed deposit rate at 4.25 percent, a drop of 1.85 percentage points.

This downward revision follows Nepal Rastra Bank’s decision to cut all rates within the interest rate corridor. Through the Monetary Policy for Fiscal Year 2025/26 unveiled last week, the central bank reduced the bank rate from 6.5 percent to six percent, the policy rate from 5 percent to 4.5 percent and the deposit collection rate (floor rate) from three percent to 2.75 percent.

With the floor rate coming down, banks have decreased their minimum savings interest rates accordingly. The minimum savings rate had previously stayed just above three percent as lowering the rates below the floor rate would have denied banks access to the central bank’s Standing Deposit Facility (SDF). Now, with the central bank itself reducing the floor rate, saving rates of banks have come down further.

Alongside savings interest rates, banks have also reduced interest rates on fixed deposits. The base rate of two commercial banks has already fallen below five percent. If rates drop further, loans are expected to become even cheaper.