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Saudi Arabia and Qatar have announced that they will settle Syria’s debt to the World Bank totalling roughly $15m, according to a statement published by the Saudi Press Agency, in the latest effort to help reverse the economic fortunes of a nation beset by years of war, Aljazeera reported.

Both Gulf states have played a key role in the diplomatic outreach to Syria’s new interim government since the ouster of longtime leader President Bashar al-Assad in December.

“The ministries of finance in the kingdom of Saudi Arabia and the state of Qatar jointly announce their commitment to settle Syria’s outstanding arrears to the World Bank Group, totalling around $15 million,” the statement said on Sunday.

It came just days after Syria’s central bank governor and finance minister attended the International Monetary Fund and World Bank spring meetings for the first time in more than 20 years, according to Aljazeera.

The World Bank had suspended operations in Syria after the start of the war, which began with a bloody crackdown on pro-democracy protests during the Arab Spring in 2011. The settlement of the country’s arrears will enable it to resume accessing the bank’s financial support and technical advice.

Minister for Foreign Affairs Arzu Rana Deuba has said that Nepal is always against terrorism and strongly condemns terrorism in any manifestation. Addressing a gathering organized by the Indian Embassy in Nepal to pay tributes to those who lost their lives in the terrorist attack in Pahalgam, Kashmir, India, she made it clear that Nepal is always against terrorism and in favor of peace. “Nepal strongly condemns all forms and manifestations of terrorism. Nepal always stands against terrorist activities carried out anywhere, anytime and for any purpose,” she said.

Stating that double standards should never be adopted while dealing with terrorism, she clarified that Nepal is firmly committed to ensuring that its territory is not used by any terrorist group for any reason and against any country and people. Therefore, Minister Rana said that Nepal has also strongly condemned in strongest possible terms the terrorist attack that took place in Pahalgam, Kashmir.

She also said that Nepal stands by the people and the government of India at this hour of sorrow and stands shoulder to shoulder with India in the fight against terrorism. Recalling the deep ties between Nepal and India, Minister Rana said that this relationship is not only a matter of diplomacy but also a matter of shared history, culture and cooperation for centuries. “Our open borders are a symbol of trust in each other and our family ties also bind us. We have always stood together in times of happiness or crisis. When the earthquake devastated Nepal, India was the first to extend a helping hand,” she said.

Minister Rana also thanked the Government of India for helping to repatriate the mortal remains of Nepali youth Sudip Neupane, a victim of the Pahalgam tragedy, and other affected people to Nepal. On the occasion, she paid tributes to those who lost their lives in the terrorist attack and extended condolences to the bereaved families. 

The price of gold has dropped by Rs 1, 400 per tola in the domestic market on Monday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the yellow metal is being traded at Rs 188, 300 per tola today. It was traded at Rs 189, 700 per tola on Sunday.

Similarly, the price of silver has dropped by Rs 20 and is being traded at Rs 1,970 per tola today.

Nepali parliamentarian Yogesh Gauchan Thakali has been elected as the Chair of the Youth Committee of the Asian Forum of Parliamentarians on Population and Development (AFPPD).

He was elected to the post during the 15th General Assembly of the Committee held in Kuala Lumpur, Malaysia, on April 27–28.

Thakali’s election to the post underscores Nepal’s growing leadership in international platforms dealing with population and development challenges.

Speaking after being elected to the post, Thakali reaffirmed his commitment to advancing youth voices, promoting inclusive policies, strengthening regional cooperation, and driving action on climate change.

Thakali has also been championing the climate crisis narrative, raising urgent climate issues across all platforms, and calling for sustainable and inclusive policies to safeguard the future of younger generations.

AFPPD is a regional network representing 30 National Committees comprising parliamentarians from across Asia-Pacific and Central Asia.

US Senator Jeanne Shaheen of the US Senate Foreign Relations Committee has opposed the Department of Government Efficiency’s effort to dismantle the Millennium Challenge Corporation (MCC). 

Issuing a press statement, he said that since its establishment under President George W Bush over 20 years ago, the MCC has a proven track record of delivering economically transformative, transparent and accountable returns on foreign assistance through its projects, helping partner countries such as Kosovo and Senegal strengthen their democratic institutions and reduce their dependency on aid in the long-term. “The Millennium Challenge Corporation is a bipartisan, independent government agency established in law by Congress to reduce global poverty through economic growth,” he said.  

Just last year, Congress passed, and President Biden signed into law, a bipartisan bill that expands MCC’s pool of eligible candidate countries. MCC is a necessary tool to counter China’s Belt and Road Initiative and dismantling it will open the door for the PRC to further exploit and capitalize on America’s retreat, as it has with Nepal, he said.  “This destructive dismantling of MCC does nothing to make America stronger; it only harms our economic and national security interests.”

Meanwhile, for the current fiscal year, MCA-Nepal has a budget of Rs 13.36bn. Of this amount,
Rs 9.9bn would be funded by the MCC and the remaining Rs 3.45bn would be borne from internal sources.

However, after MCA-Nepal did not spend the budget, about 58 percent of the budget has been returned to the Ministry of Finance. Not only in the current fiscal year but also in the last fiscal year, MCA-Nepal’s expenditure was unsatisfactory. MCA-Nepal had spent only about 30 percent of the total budget for the last fiscal year and returned the remaining 70 percent of the budget.

The government had allocated Rs 10.84bn for the last fiscal year to spend on projects under MCA-Nepal, out of which Rs 7.60bn was returned. The budget could not be spent as per the target as the compensation distribution and acquisition of land required for the construction of the power transmission line has slowed down. 

MCA-Nepal is among the agencies returning the highest amounts under capital expenditures.

India and France will sign a Rs 63,000 crore agreement on Monday for 26 Rafale Marine fighter jets, officials said. Defence Secretary Rajesh Kumar Singh and the French Ambassador will sign the deal in Delhi; defence ministers of both nations will join virtually, according to the Firstpost.

Cleared by the Cabinet Committee on Security on April 9, the contract covers 22 single-seat and four twin-seat Rafale M aircraft, along with maintenance, training, logistics, and indigenous production support.

The Rafale M jets will be deployed on INS Vikrant to bolster carrier-based operations amid performance issues with the MiG-29K fleet. The acquisition is a stopgap measure until India’s indigenous carrier-borne fighter is ready, Firstpost reported.

Sources said the signing event is likeli to be held outside the Defence Ministry headquarters at South Block.The addition will expand India’s Rafale fleet to 62, enhancing its 4.5-generation fighter strength.

North Korea has confirmed it deployed troops to fight alongside Russian forces in Ukraine. Pyongyang claimed its soldiers helped “completely liberate” Russia’s Kursk border region under orders from Kim Jong Un, according to Reuters.

The announcement comes after Russian Chief of Staff Valery Gerasimov recently praised North Korean servicemen for their "heroism" on the battlefield. Western officials believe that approximately 1,000 of the 11,000 North Korean personnel deployed had been killed.

The United States condemned North Korea's engagement, claiming responsibility for prolonging the conflict. Meanwhile, Ukraine dismissed Russian assertions that it had fully regained control of the Kursk region, Reuters reported.

Reports of North Korean military cooperation emerged after Kim and Russian President Vladimir Putin signed a mutual defense treaty last year. Despite concerns about their preparedness, Ukrainian commanders acknowledged that North Korean troops pose significant obstacles on the front lines.

At a recent business forum in Beijing, global leaders anticipated a meeting with Chinese President Xi Jinping, but many were impressed by Vice Premier He Lifeng. As Xi’s chief economic lieutenant, He has become a central figure in Sino-American trade talks, Reuters reported.

He, who oversees China’s economy and financial sector, is seen as crucial in addressing ongoing trade tensions, particularly after the US imposed 145% tariffs under President Trump.

Once viewed as a rigid Communist Party official, He has gained recognition for his growing confidence and effectiveness in negotiations, holding over 60 meetings with foreign officials since March 2023, as stated by Reuters.

China has exempted several US goods from retaliatory tariffs despite the persistent tensions, but Beijing still demands that Washington stop its "extreme pressure" strategy.