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Pokhara is set to host the BYD International Balloon Festival. The festival, organized by Balloon Nepal Pvt Ltd, will run from 24 Dec 2024 to 1 Jan 2025, in the picturesque Pame area of Pokhara. Nearly two dozen balloons will grace the skies, marking a major milestone in the country’s post-pandemic tourism revival.

The nine-day event will feature flights covering a three-kilometer stretch from Lauruk to Changkpur, offering breathtaking views of the Annapurna, Machhapuchhre, and Dhaulagiri ranges, as well as the Pokhara Valley. International participation from countries including the USA, UK, Spain, Japan, and Brazil underscores the event’s global appeal.

The festival will include vibrant attractions like balloon glows, fireworks, races, and night camps. Renowned Nepali artists, such as Deepak Bajracharya, Raju Lama, and Alina Chauhan, will perform daily, amplifying the festive atmosphere.

Promotional support comes from the Nepal Tourism Board, Non-Resident Nepali Association (NRNA), and Pokhara Metropolitan City. Brand ambassadors Rajesh Hamal and Priyanka Karki will further boost the event’s visibility.

The festival draws inspiration from globally celebrated events like the Albuquerque International Balloon Fiesta in the USA and the Cappadocia International Balloon Festival in Turkey. With Balloon Nepal’s growing global presence, including participation in Thailand’s International Balloon Fiesta earlier this year, the event is poised to solidify Pokhara’s status as a hub for adventure tourism.

United Arab Emirates (UAE) Ambassador to Nepal, Abdulla Al Shamsi, paid a courtesy call on Prime Minister KP Sharma Oli at his official residence in Baluwatar on Wednesday.

On the occasion, Ambassador Shamsi handed over to PM Oli a letter of invitation sent by Vice President and Prime Minister of UAE, Sheikh Mohammed bin Rashid Al Maktoum, inviting PM Oli to attend the World Governments Summit to be organised in Dubai in the second week of February, 2025. 

Mutual relations between Nepal and the UAE as well as common matters of mutual interest and concern were discussed on the occasion.

They also discussed the effective implementation of bilateral agreements reached before this and on promotion of trade, investment, agriculture, hydropower and tourism, the Prime Minister's Secretariat said.

The Nepal Stock Exchange (NEPSE) plunged by 5. 60 points to close at 2,628.26 points on Wednesday.

Similarly, the sensitive index dropped by 1. 53 points to close at 450. 12 points.

A total of 8,147,320-unit shares of 314 companies were traded for Rs 4. 27 billion.

Meanwhile, Upakar Laghubitta Bittiya Sanstha Limited (ULBSL) and Support Microfinance Bittiya Sanstha Ltd. (SMB) were the top gainers today with their price surging by 10. 00 percent. Likewise, Kutheli Bukhari Small Hydropower Limited (KBSH) was the top loser as its price fell by 9. 90 percent.

At the end of the day, the total market capitalization stood at Rs 4. 35 trillion.

Karnali Yaks reached the second qualifier of Nepal Premier League (NPL) T20 Cricket Tournament, defeating Chitwan Rhinos by 21 runs in the eliminator game played at the TU Cricket Ground, Kirtipur on Wednesday.

With this win, Karnali will on Thursday play against the team losing in the first qualifier match which is taking place today itself, to secure a place in the final. Janakpur Bolts and Sudurpaschim Royals will be in fray in the first qualifier game. The team winning the first qualifier will enter the finals of the NPL.

Chasing a 176-run target posted by Karnali Yaks, Chitwan Rhinos were limited to 154 runs in the allotted 20 overs at the loss of nine wickets.

Ravi Bopara top scored 53 runs with the help of four sixes and three boundaries in 34 balls for Chitwan while captain Kushal Malla hit 21 runs and Bipin Rawal 18 runs, Luc Benkestein 16 runs and Sharad Bheswakar 10 runs. Except them, no other player could score in the double digits for Chitwan.

Towards bowling, Zeeshan Maqsood took three wickets while Sompal Kami and Nandan Yadav took two wickets each while Bipin Sharma took one wicket for Karnali Yaks.

Invited to bat first after losing the toss, Karnali Yaks scored 175 runs in the allotted 20 overs at the loss of six wickets. Jaykishan Kolsawala scored the highest 53 runs with the help of six fours and two sixes in 39 balls for Karnali. Similarly, William Bosisto made 52 runs, Chadwick Walton undefeated 46 runs and Zeeshan Maqsood 14 runs for Karnali.

Sohail Tanvir took two wickets while Sharad Vesawkar, Kushal Malla and Ravi Bopara took one wicket each for Chitwan Rhinos.

Karnali Yaks had beaten Chitwan Rhinos in the league stage match before this also.

The Nepali diaspora in the United States has grown significantly, with current estimates reaching between 185,000 to 215,000 individuals, according to a comprehensive new report titled ‘Nepali Migrant Dreams in the American Landscape: An Exploration of the Nepali Diaspora in the United States’. The report, launched by the Institute for Integrated Development Studies (IIDS) in collaboration with the Embassy of Nepal in Washington DC and The Asia Foundation, delves into the migration patterns, socio-economic integration, and the vital contributions of Nepali migrants to both the US and Nepal.

The findings reveal that the diaspora has experienced rapid growth over the past 12 years, with 68.3 percent of Nepalis in the US arriving post-2010. The 2020 US Census supports this, showing that approximately 208,000 Nepalis live across the US, with the largest concentrations in states such as Texas, California, Virginia, Maryland, and New York. Major urban hubs with dense Nepali populations include Dallas-Fort Worth, Richmond, New York, Baltimore, and San Francisco. 

The report outlines that the primary motivations for migration include access to better educational opportunities (58 percent), improved living standards, and job prospects. Career advancement (42 percent) and higher quality of life (38 percent) also rank highly among the reasons for migration. Additionally, economic factors such as better employment opportunities abroad (19 percent) and limited job prospects in Nepal (25 percent) play a significant role, along with the country’s unpredictable political climate (26 percent).

Over the period from 2012 to 2021, Nepal had the second-highest number of applicants (5.3m) to the US Diversity Visa (DV) Program among Asian countries, reflecting the strong desire for migration. The report also reveals that the majority of Nepali migrants spend below $10,000 on migration expenses, with a substantial proportion (spending $50,000 or more) representing a large financial commitment. Last year alone, over 112,000 Nepali students received No Objection Certificates (NOCs) for overseas study, meaning more than 300 Nepali students leave the country every day for educational opportunities. The financial outflow due to this migration reached Rs 125bn, accounting for 78 percent of Nepal’s total export earnings in the past year.

The diaspora’s financial contributions extend beyond remittances. The report estimates that the total remittance sent from the US to Nepal in 2023 was around $1.28bn, making up 11.6 percent of Nepal’s total remittance inflow. The average annual remittance sent from the US is $8,633.04, which significantly outpaces remittance per capita from other major remittance-sending countries like Qatar, Malaysia, the UAE, and Saudi Arabia.

Additionally, 10 percent of the Nepali diaspora has made financial investments in Nepal, particularly in real estate, land, hydroelectricity, and education sectors. This highlights a sustained bond with their home country, driven by both economic interests and a desire to contribute to Nepal’s development. Engagement with Nepal’s socio-economic development is also evident through philanthropic donations, with 57.8 percent of the diaspora donating to charities and organizations in Nepal, particularly in the areas of education (26.34 percent) and disaster relief (21.89 percent).

While the Nepali diaspora demonstrates a high level of socio-economic success in the US, with higher median incomes than the national average ($45,500 vs. $42,200), the report identifies certain disparities within the community. Despite strong economic engagement, the diaspora faces a poverty rate (11.98 percent) that slightly exceeds the US average (11.5 percent), and homeownership rates are lower (49 percent) compared to the US average (65.2 percent). However, Nepali diaspora households tend to have larger household sizes, indicating a distinct living arrangement compared to other US residents.

The report also highlights a gender income gap, with men in the diaspora generally earning significantly more than women across various sectors. For example, men working in the ‘Legal, Public Service, and Consulting’ sector earn a median income of $95,000, more than double the $45,000 earned by women in the same field. Similar disparities are noted in the technology and healthcare sectors, where male workers earn $80,000, compared to $50,000 for women in technology, and $45,000 for women in healthcare.

Revenue collections by the dry port Customs Office in Sirsiya of Birgunj have decreased in the past five months compared to the corresponding period last fiscal year.

In the first five months of the current fiscal year, the office collected Rs 19.78 billion, which accounts for 32.94 percent of its annual revenue target.

Office Chief Dhan Bahadur Baruwal attributed the decline to a reduction in exports of foreign goods.

The highest collection occurred in the month of Asoj (September-October), amounting to Rs 4.36 billion, while the lowest was in Mangsir (November-December), with Rs 3.22 billion.

In the corresponding period last fiscal year, the office had garnered revenue of Rs 21.04 billion.

The CPN (Unified Socialist) has reshuffled the responsibilities of its party leaders six months after the completion of its central general convention.

According to Party Secretary Som Prasad Pandey, a 24-member central secretariat has been constituted, led by Party Chair Madhav Kumar Nepal, as determined by a meeting of the party's Standing Committee.

As part of the revised portfolios, the party's honoured leader Jhalanath Khanal has been appointed head of the School Department, while Beduram Bhusal will lead the Organisation Department.

Pramesh Hamal has been tasked with overseeing the Foreign Affairs Department, and Ghanendra Basnet will now be in charge of the State Affairs Department. Senior Vice -Chair Rajendra Pandey will head the Front Section.

Other assignments include Vice Chair Jagannath Khatiwada, who will lead the Federal and Provincial Affairs Department, and Vice Chair Prakash Jwala, who will oversee the Publicity Department.

Vice Chair Jayanti Rai has been appointed in- charge of the All Nepal Women’s Association (Socialist), while Vice Chair Bhanu Bhakta Joshi will take a role of in-charge for the Sudurpaschim Province.

Vice Chair Dharmanath Prasad Sah has been assigned responsibility for the Madhes Province in-charge, and Vice Chair Gangalal Tuladhar will oversee the Bagmati Province.

General Secretary Ghanshyam Bhusal has been given the overall monitoring responsibilities.

Deputy General Secretary Rajendra Rai will be in charge of the Koshi Province, while Deputy General Secretary Ram Kumar Bhattarai will serve as the Office Secretary. Deputy General Secretary Garima Shah has been assigned as in-charge of Parliamentary Affairs, and Vice Chair Metamani Chaudhary will handle the Lumbini Province as its party in-charge.

Secretary Srinath Baral has been assigned responsibility for the Gandaki Province in-charge, and Secretary Chandra Bahadur Shahi will oversee the Karnali Province.

Laxman KC will oversee the Youth Department, and Ram Kumari Jhankri will be in charge of the Student Department, as said by Vice Chair Khatiwada.

The price of gold has dropped by Rs 700 per tola in the domestic market on Wednesday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the yellow metal is being traded at Rs 150, 700 per tola today.

Similarly, the price of silver has dropped by Rs 5 and is being traded at Rs 1,835 per tola today.