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US president Donald Trump’s sweeping tax-cut bill narrowly passed the House Budget Committee in a 17–16 vote, moving toward a full House vote later this week. All Democrats rejected it, but four conservative Republicans voted "present," allowing it to move forward following negotiations with GOP leaders and the White House.

The bill, which extends Trump's 2017 tax cuts, is expected to add $3-5trn to the $36.2trn national debt over the next decade. Republicans are still divided on how to offset the cost, with some seeking Medicaid cuts and the repeal of green energy tax credits—proposals others warn could hurt key voter groups, as reported by Al Jazeera.

Treasury Secretary Scott Bessent defended the bill, claiming it would boost economic growth enough to outweigh debt concerns. But Moody’s, following downgrades from Fitch and S&P, cited soaring debt and downgraded the US credit rating, warning it could reach 134 percent of GDP by 2035.

European Union delegates paid a courtesy call on Prime Minister KP Sharma Oli on Monday.

This is the first time in Nepal that such a number of EU delegates including Veronique Lorenzo, the EU ambassador to Nepal, have been in Kathmandu.

They arrived here to take part in the three-day first edition of Sagarmatha Sambaad held in Kathmandu on May 16-18. 

During the meeting, discussions between the two sides centered on the Nepal-EU diplomatic ties for 51 years, and the significance of EU cooperation for Nepal's stability, economic development and good governance. 

On the occasion, the Prime Minister apprised the delegates that Nepal has now picked up pace in the areas of economic development and good governance following its transitions from the armed conflict, peaceful people's movement, peace talks and the promulgation of the constitution from the Constituent Assembly.

Stating that two major political parties in Nepal - the CPN-UML and the Nepali Congress (NC) - formed the incumbent coalition government with commitments to advancing economic development and good governance, the Prime Minister urged the EU delegation to invest in Nepal for its prosperity and job creations.

Citing that there is no possibility to recede from the federal democratic republic system, an outcome of people's struggle, he said, "Stability and prosperity is the onward destination of Nepal."

The PM said that "Friendship with all, animosity with none" reflects Nepal's foreign policy, emphasising its close relations with both India and China, as well as maintaining friendly ties with all other nations.

He expressed gratitude to the delegation members for attending the Sagarmatha Sambaad with the greater realisation of its theme and objectives.

The event was themed - "Climate Change, Mountains and the Future of Humanity."

The Prime Minister seized the opportunity to announce that there would be no further delay in resolving the issues of transitional justice, as the relevant laws have already been enacted and two commissions have been formed in consultation with the concerned stakeholders.

The EU ambassadors pledged their continued support to Nepal in areas such as education, infrastructure, health, energy, information technology, and climate change, while collaborating with the country on its socio-economic development efforts.

Chief Advisor to the Prime Minister, Bishnu Prasad Rimal, and senior officials from the Ministry of Foreign Affairs were also present in the program.

A significant breakthrough in UK-EU talks occurred late Sunday night, according to government sources, resolving key issues—primarily fishing rights—that had remained stumbling blocks in negotiations, according to BBC.

The progress comes as Prime Minister Keir Starmer chairs a gathering of European Union leaders in London to rebuild post-Brexit relations. Discussions are anticipated to include defense, commerce, fishing, and a prospective youth mobility plan.

The UK formally departed the EU on January 31, 2020. While Labour portrays the conference as a new beginning, the Conservative Party has criticized it as a "surrender summit”, BBC reported.

After a period of relative silence on Brexit, the renewed focus marks a potentially pivotal moment in the UK’s relationship with the EU.

Inter Milan's title hopes were dealt a crushing blow when a late Pedro penalty earned Lazio a 2-2 draw at the San Siro on Sunday, to leave the Serie A champions one point behind Napoli going into the final game of the season, Reuters reported. 

With leaders Napoli held to a 0-0 draw by Parma, Inter missed the perfect opportunity to move into pole position at just the right time, but Yann Bisseck went from hero to villain, conceding the 90th-minute penalty after opening the scoring.

Inter are on 78 points and are away to Como on the final day with Napoli on 79, and they will host Cagliari. Should the sides finish level on points, the title will be decided by a playoff. Lazio are sixth on 65 points, two behind Juventus in fourth, according to Reuters. 

The first half was mostly played at a pace which made the game look like an end of season match with nothing riding on it rather than two sides with still very much to play for.

Federico Dimarco's first-time effort from the edge of the area, which was parried away by Lazio keeper Christos Mandas after half an hour, was the first shot on target, and Inter keeper Yann Sommer was called into action shortly before the break, Reuters reported. 

Kylian Mbappe and Jude Bellingham scored late in the second half to give a depleted Real Madrid a 2-0 win at Sevilla, who ended the game with nine men after straight red cards to Loic Bade and Isaac Romero, Reuters reported.

With leaders Barcelona having already secured the title after Thursday's 2-0 win at city rivals Espanyol gave them an unassailable lead with two games left to play, Real entered the game missing several regular starters including Vinicius Jr and Rodrygo.

Sevilla were a man down after 11 minutes when Bade held Mbappe to stop a quick counter-attack, with the referee considering it was a clear scoring opportunity for Real and flashing a straight red card at the French defender, according to Reuters.

However, despite dominating possession, Real struggled to create many chances with Mbappe and Endrick missing clear opportunities before the break.

Sevilla had a second player sent off three minutes after the restart when halftime substitute Isaac Romero's unpleasant studs up tackle on Aurelien Tchouameni earned another straight red card.

Five minutes after hitting the crossbar with a shot in the 70th minute, Mbappe finally managed to break the deadlock, slotting a low strike from outside the box just inside the right post, Reuters reported.

US President Donald Trump will speak with Russian President Vladimir Putin on Monday to discuss a possible ceasefire in Ukraine and trade relations. The call is scheduled for 10 a.m. ET (1400 GMT), according to Reuters.

Trump said the focus will be on stopping the ongoing “bloodbath,” which is reportedly claiming over 5,000 lives weekly. He expressed hope for a productive outcome and an end to the conflict.

The Kremlin confirmed preparations for the call. Trump also plans to speak with Ukrainian President Volodymyr Zelensky and NATO leaders. His administration has warned of further sanctions if Russia does not engage seriously in peace talks, Reuters reported.

CPN (Maoist Center) Chair and former Prime Minister Pushpa Kamal Dahal has drawn the attention of the government to arrange a  safe settlement for the people of Tilgaun in Namkha Rural Municipality-6, Humla, who are at risk of landslides.

Taking to social media, main opposition party leader Dahal said, "I want to draw the government's serious attention to ensuring immediate rescue and safe settlement for the residents of the risk areas.”

Leader Dahal urged the government to focus not only in capital-centric discussion regarding the rising risks of glacial lake outburst due to the increasing impact of climate change but also to pay attention to carrying out scientific studies and disaster preparedness works in remote areas of the country.

He said, "The occurrence of mudslides due to the glacial lake outburst has put the settlement there at risk. The water supply infrastructure, roads, and bridges have been damaged due to the landslides, and the fact that 33 local people are awaiting relief."

The price of gold has increased by Rs 600 per tola in the domestic market on Monday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the precious yellow metal is being traded at Rs 184, 800 per tola today. It was traded at Rs 184, 200 per tola on Sunday.

Similarly, the silver is being traded at Rs 1, 945 per tola today.