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ABC Securities Pvt Ltd, a licensed stock broker (Broker No 17) authorized by the Nepal Stock Exchange (NEPSE) and the Securities Board of Nepal (SEBON), has relocated its office from Indrachowk to the first floor of City Express Complex in Kamaladi, Kathmandu. The new office came into operation on June 1.

The company aims to enhance service delivery and operational efficiency from the new location. The Kamaladi office features a private trading room, cafeteria, and a one-window service counter. Through the integrated service counter, clients can access depository, KYC, account, settlement, and trading services more conveniently. To mark the relocation, a formal inauguration event was held on June 1. 

The seventh National General Convention of the Auditors’ Association of Nepal (ADAN) was held from May 30 to June 1 under the leadership of outgoing President Kedar Nath Poudel. The event concluded with the endorsement of the organizational report presented by General Secretary Prem Bahadur Shrestha, the financial report presented by Treasurer Balram Chaudhary, and the adoption of 16-point special resolutions. A new 84-member central executive committee has been elected, with Badri Prasad Bhattarai as President.

An additional 11 members will be nominated by the central secretariat, as provisioned in the association’s statute, bringing the total to 95 members. Dol Prasad Dahal has been elected as the Senior Vice-president, while Jhalak Mani Lamsal takes the position of First Vice-president. Posh Raj Nepal and Bharat Kumar Shrestha were elected as the second and third Vice-presidents, respectively. Other elected Vice-presidents include Pradeep Kumar Yadav, Meera Shrestha, Ramesh KC, Prem Bahadur Shrestha, Rajendra Prasad Dhungana, Balram Chaudhary, Yogmaya Dhamala, Chandra Bahadur Subedi, and Basudev Joshi.

Tilak Bahadur Adhikari has been elected as the General Secretary. Approximately 650 delegates from across the country took part in the convention, which also passed 16 special resolutions. These include commitments to strengthening unity among auditors, addressing global and domestic challenges in the auditing profession, and working toward modern, respected, and timely accounting practices in line with international standards.

At least thirty-four people have died in India’s northeast after days of heavy rain caused severe floods and landslides, with more downpours expected. In Sikkim, over thousand stranded tourists are being evacuated, while rescue operations continue in Meghalaya and Assam, according to Reuters.

In neighboring Bangladesh, a landslide killed four family members in Sylhet. Authorities in both nations have issued warnings and opened emergency shelters as the possibility of more flash floods and landslides grows.

Prime Minister Keir Starmer announced plans to significantly upgrade the UK's military capabilities, including the development of new nuclear-powered attack submarines and increased army preparedness for potential conflict in Europe, according to Firstpost.

Speaking at a naval shipyard in Scotland, Starmer said that the threat from Russia is more serious and immediate than at any time since the Cold War.

The announcement comes amid a broader reassessment of defense strategies by NATO members following Russia’s 2022 invasion of Ukraine. Starmer described the upgrades as the most substantial in over three decades, Firstpost reported.

Ukraine and Russia are set to resume peace negotiations in Istanbul on Monday, Turkish authorities announced. The talks will take place at 1:00 p.m. local time (1000 GMT) at the historic Ciragan Palace on the European side of the city, along the Bosphorus Strait.

This meeting follows the most recent round of direct talks, which ended on May 16 without a ceasefire. It will be the first face-to-face negotiation between the two parties since March 2022, as diplomatic efforts to resolve the conflict continue, Xinhua reported.

China has accused the United States of significantly breaking a recent trade agreement, threatening severe repercussions. According to the Ministry of Commerce, Washington undermined the Geneva agreement made in May, in which both countries promised to reduce tariffs — the US from 145 percent to 30 percent and China from 125 percent to 10 percent, Associated Press reported.

Beijing also blamed a breakdown in consensus during a January phone chat between Chinese President Xi Jinping and US President Donald Trump. It denounced previous US steps such as restricting chip design software, prohibiting the use of Huawei chips, and canceling student visas.

Meanwhile, President Trump accused China of violating the agreement. US Trade Representative Jamieson Greer claimed Beijing failed to remove non-tariff barriers as promised, according to Associated Press.

Karol Nawrocki has won Poland’s presidential runoff election, according to the final results released by the National Electoral Commission (PKW) on Monday.

Nawrocki, an independent candidate supported by the opposition Law and Justice (PiS) party, secured 50.89 percent of the vote, narrowly defeating Civic Coalition (KO) candidate and Warsaw Mayor Rafal Trzaskowski, who received 49.11 percent, according to Xinhua.

Nawrocki, a historian and director of the Institute of National Remembrance, ran his first presidential campaign as an underdog, consistently trailing in polls. Despite early exit polls predicting defeat, he emerged victorious.

Born in 1983 in Gdansk, Nawrocki will take office on August 6, succeeding President Andrzej Duda at the end of his second and final term, Xinhua reported.

The World Bank (WB) has approved a loan totaling USD 257 million aimed at enhancing electricity distribution services and improving irrigation services to boost agricultural productivity.

The World Bank’s Board of Executive Directors on May 29 approved the loan for two projects for Nepal, the WB stated in a press release.

The Electricity Supply Reliability Improvement Project (USD 120 million) will strengthen the electricity distribution network and enhance electricity supply to users in Koshi, Bagmati, Karnali, and Sudurpashchim Provinces.

The project, led by Nepal Electricity Authority, will focus on constructing new distribution substations, upgrading existing networks, and implementing an automated system for real-time monitoring of distribution networks to enhance operational efficiency, it said.

The Modernization of Rani Jamara Kulariya Irrigation Project - Phase 3 (USD 137 million) aims to improve irrigation services and agricultural productivity by expanding access to year-round irrigation services, increasing farm productivity, and enhancing climate resilience in Kailali district, Sudurpaschim Province.

Jointly implemented by Nepal’s Department of Water Resources and Irrigation and Department of Agriculture, this project will scale year-round irrigation to an additional 17,500 hectares benefiting 160,000 people.

“An uninterrupted electricity supply and adequate, year-round irrigation services are fundamental inputs for Nepal’s sustainable development,” said David Sislen, Country Division Director for Maldives, Nepal, and Sri Lanka.

“The projects emphasise improved connectivity and the promotion of clean electricity generated from hydropower, alongside integrated agricultural support services to farmers to help build resilience against climate and disaster risks.”

The projects also include capacity-building initiatives for the Nepal Electricity Authority and the Water Users Association to promote innovative solutions and strengthen institutional systems for the effective management and sustainability of infrastructure.