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Defense Minister Manbir Rai said that the government is taking initiatives to increase the service benefits for the security forces including Nepal Army (NA).

Responding to the queries and concerns raised by parliamentarians on the Appropriation Bill-2082 BS regarding the Ministry of Defense in the National Assembly's meeting today, Minister Rai underscored the need to increase financial resources to secure welfare of the security agencies.

Furthermore, Rai assured that no efforts will be spared to enhance service across all sectors once the national economy recovers.

The Minister informed the Upper House about the government's plan to enforce and expand the National Cadet Corps (NCC) program. The program will be implemented in some districts in Terai and some border areas beginning the coming fiscal year 2025/26.

The NCC program aims to instill discipline, leadership qualities, and sportsmanship among youth, fostering dedication and service-oriented leadership.

It is run by Nepal Army and includes two training divisions: Senior and Junior. While the Junior Division engages students from grade 8 to 10, the Senior Division involves students from grade 11 and 12. 

The national budget for the upcoming fiscal year also includes the issue relating to expansion of scope and effectiveness of the NCC program.

Minister Rai, during the meeting, shared that the Nepal Army will be involved in the productive sector thereby contributing the country to become self-reliant.

The Nepal Stock Exchange (NEPSE) gained 34.60 points to close at 2,695.00 points on Wednesday.

Similarly, the sensitive index surged by 5.75 points to close at 462. 51 points.

A total of 30,182,341-unit shares of 317 companies were traded for Rs 9. 74 billion.

Meanwhile, Green Development Bank Ltd. (GRDBL) and Khanikhola Hydropower Co. Ltd. (KKHC), with their price surging by 9. 99 percent.

Likewise, 9% ICFC Finance Limited Debenture 2088 (ICFCD88) was the top loser as its price fell by 3. 73 percent.

At the end of the day, total market capitalization stood at Rs 4. 48 trillion.

Iran’s president on Wednesday ordered the country to suspend its cooperation with the International Atomic Energy Agency after American and Israeli airstrikes hit its most-important nuclear facilities, likely further limiting inspectors’ ability to track Tehran’s program that had been enriching uranium to near weapons-grade levels, Associated Press reported.

The order by President Masoud Pezeshkian, however, included no timetables or details about what that suspension would entail. However, Iranian Foreign Minister Abbas Araghchi signaled in a CBS News interview that Tehran still would be willing to continue negotiations with the United States.

“I don’t think negotiations will restart as quickly as that,” Araghchi said, referring to Trump’s comments that talks could start as early as this week. However, he added: “The doors of diplomacy will never slam shut.”

Hamas suggested Wednesday that it was open to a ceasefire agreement with Israel, but stopped short of accepting a U.S.-backed proposal announced by U.S. President Donald Trump hours earlier, insisting on its longstanding position that any deal bring an end to the war in Gaza, Associated Press reported.

Trump said Tuesday that Israel had agreed on terms for a 60-day ceasefire in Gaza and urged Hamas to accept the deal before conditions worsen. The U.S. leader has been increasing pressure on the Israeli government and Hamas to broker a ceasefire, and hostage agreement and bring about an end to the war.

Trump said the 60-day period would be used to work toward ending the war — something Israel says it won’t accept until Hamas is defeated. He said that a deal might come together as soon as next week.

But Hamas’ response, which emphasized its demand that the war end, raised questions about whether the latest offer could materialize into an actual pause in fighting, according to Associated Press.

A youth-led side event titled ‘Architects of Equitable Financing’ was held at the 4th International Conference on Financing for Development (FfD4) in Seville. Organized by Bagmati UNESCO Club in collaboration with BPW International and the Bagmati Province Youth Council, the session aimed to highlight the role of youth in promoting inclusive and innovative financing approaches toward achieving the Sustainable Development Goals (SDGs).

The event was chaired by Nishchal Baniya, Chairperson of Bagmati UNESCO Club. The session focused on integrating grassroots, youth-driven innovations into broader financing systems and emphasized the need to address barriers faced by young changemakers—such as limited capital access, bureaucratic hurdles, and lack of mentorship. Keynote addresses included Jenny Elmaco, UN Representative to UNESCO and UN Vienna for BPW International, who spoke on ‘Gender-Based Climate Finance: Ensuring Equitable Access and Impact for Young Women’, and Adonis Cortes, Youth Advisor for UNOPS’s Youth Engagement Platform, who discussed youth-led innovation in his talk, ‘Local Innovations: Global Impact’.

A panel discussion followed, featuring Elmaco, Cortes, and Emmanuel Ohiri, Development Strategist from the FfD4 Youth Constituency of UN MGCY. The discussion was moderated by Nakita from the same constituency and focused on local innovations and their potential to scale globally.

The event, led by a three-member delegation from Bagmati UNESCO Club, including Savyata Poudel and Yubraj Bajgain, aimed to promote inclusive financing models tailored to youth entrepreneurship, foster knowledge-sharing among stakeholders, and introduce practical digital tools to support projects such as cultural heritage preservation.

A report titled ‘Discontent to Deliberation: Challenges and opportunities in Nepal’s governance process’, published by Centre for Social Change, has identified that practice of federalism in Nepal continues to generate legal and political conflicts, particularly around the delineation of powers and responsibilities between the levels of the government.

Provincial governance remained at a flashpoint, with repeated disputes over the appointment and dismissal of Chief Ministers. For instance, in Koshi Province, a dramatic series of legal and political maneuvers followed the resignation of Chief Minister Kedar Karki, the report says. His attempt to prevent the appointment of his successor, Hikmat Karki, was challenged in the Supreme Court under Article 76(5), which governs the formation of a new government when no party commands a majority.

At the local level, the promise of decentralized governance was repeatedly tested by disputes over fiscal transfers, budget processes, and intra-governmental coordination. The report says one of the most significant flashpoints occurred in June 2024, when the federal government announced a steep reduction, by almost 26 percent, in fiscal equalization grants to local governments.

Regarding the ethnocultural government, the report says a defining feature of ethnocultural conflict over the past year has been land-related struggles that reflect both class-based and identity-based exclusion. In particular, the case of Swargadwari Guthi tenant farmers from Dang demonstrates the intersection between landlessness, caste, and bureaucratic marginalization.

Nepal’s cultural and religious diversity has become a site of contestation as development projects encroach upon sacred spaces. The Pathibhara (Mukkumlung) cable car project in Taplejung triggered sustained opposition from indigenous Limbu communities, who view the area as spiritually significant.

According to the report, the Language Bill became a flashpoint for identity-based protest in Madhes Province. In January 2025, a bill proposing Hindi as one of the official working languages alongside Maithili, Bhojpuri, and English was introduced in the provincial assembly. Despite the widespread use of languages like Tharu, Magahi, and Urdu in the region, these were excluded, leading to mass opposition from lawmakers and the public. Protesters burned effigies, blocked assembly proceedings, and accused the government of linguistic bias. The bill was withdrawn under pressure, but the episode exposed the limited consultation with affected communities and the volatility of language in identity politics.

Regarding the natural resources and environment governance, the report says that one of the most prominent trends observed in the reporting period was the escalation of community-led environmental movements, driven by mounting ecological violence and failures in state responsiveness.

The events of 2024–25 indicate that natural resource and environmental governance in federal Nepal is marked by high levels of conflict, contestation, and institutional fragmentation. Communities are increasingly asserting their rights, contesting unjust policies, and demanding sustainable and equitable resource management. Yet, systemic weaknesses persist in the forms of overlapping jurisdictions, politicization of resource access, elite capture, and insufficient regulatory enforcement.

The report aims to provide a comprehensive and empirically grounded analysis of how Nepal’s federal system has functioned over the past three years. Drawing on an extensive dataset of governance-related conflicts and cooperation, it examines how constitutional mandates are being exercised and contested in practice, especially within the domains of developmental, political, ethnocultural, and natural resources and environmental governance. The report offers a critical lens into the promises and paradoxes of federalism as a democratic project. It sets the stage for understanding not only the challenges of implementation, but also the stakes involved in navigating this complex system of governance.

Sixteen people were injured on Wednesday when a sport utility vehicle (SUV) crashed into a restaurant at an expressway rest area in Gangneung, eastern South Korea, Xinhua reported.

The incident occurred around 11:32 a.m. local time. The SUV, driven by a man in his 80s, rammed into the building after he reportedly misstepped on the accelerator. Six of the injured were taken to hospital with minor to serious injuries, though none were life-threatening

Police confirmed the driver was not under the influence of alcohol and are continuing to investigate the incident, according to Xinhua.

The Global Shapers Kathmandu Hub concluded its two-day political imagination workshop, “Power, Process, Structure, and Discourse,” in collaboration with Karkhana Samuha. The workshop is part of the hub’s project Shaping Political Futures, which won the World Economic Forum (WEF) Innovation Prize in 2024. Bringing together over 30 young leaders, policy thinkers, and civic actors from across Nepal, the event explored themes of politics, federalism, governance, and civic participation. Sessions were led by experts including Kailash Rai, Hari Sharma, Binaya Mishra, and Meena Sharma, offering insights into political transitions, nation-state concepts, federal restructuring, and conflict resolution.

The second day featured reflections on mental health through Mero Mansik Yatra, followed by discussions on education, entrepreneurship, and policy-making with contributors such as Sumiran Shrestha, Surath Giri, and Neha Shrestha. Interactive elements, such as a strategic social deduction game and a civic action session titled “Letter to the Representative,” encouraged participants to reflect on leadership, inclusion, and public accountability.