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All 55 Nepali students working in an agriculture farm along the Israel-Gaza border have been relocated to a safer place.

According to the Nepali Embassy in Tel Aviv, 72 Nepali people, who were awaiting rescue from the nearby northern border of Israel, have also been shifted to safer areas.

The Embassy also said that four Nepali people who sustained injuries in Saturday's attack are witnessing gradual improvements in their health and search for a missing Nepali is taking place with the assistance of all available local and diplomatic mechanisms, including police and hospital.

Over 350 Nepali people eager to return home have so far registered their names at Nepali Embassy. A process has already been initiated to safely return them home.

The Madhes Province government has decided to provide a relief amount of Rs 500,000 to the family of Ananda Sah of Laxminiya Rural Municipality-4, Sapahi of Dhanusha who lost his life in the terrorist attack in Israel.

In a condolence message issued on Tuesday evening, Chief Minister Saroj Kumar Yadav expressed his heartfelt condolence to the family of the deceased and announced relief amount to the victim’s family.

Paying tribute to 10 Nepali youths who were killed in the terrorist attack in Israel, he termed the Hamas attack against innocent Nepalis an inhumane act.

"The attack has shattered the dreams of 10 families. We the Nepali people are in deep grief due to an incident. I would like to pay homage to those killed in lethal attack and condole the bereaved families", the message reads.

The trailer for the film ‘Pashupati Prasad 2: Bhasme Don’, directed by Dipendra K Khanal, has been released. The trailer was launched amid an event at Labim Mall in Lalitpur. The film will depict the ups and downs in Bipin Karki’s life, reprising his role as ‘Bhasme Don’, seven years after the release of the first part, ‘Pashupati Prasad’.

Speaking at the event, Khanal stated, “We hope the audience will embrace the second part as warmly as they did the first. The film has been crafted exactly as the movie team envisioned, and we believe audiences will love this film too.”

Actor Karki added, “I don’t see Bhasme Don just as a character but as my identity. I feel proud to be recognized as Bhasme Don.”

The film’s actress, Swastima Khadka, said, “Actresses rarely get the chance to portray diverse roles. I had the opportunity to deliver a new performance not only in this film but also in other works of Director Khanal. The role of ‘Durga Mata’ in this film was challenging. I extend my gratitude to the entire production team for entrusting me with this character.”

Produced under the Tuki Arts banner, the film stars Karki and Khadka, along with Saugat Malla, Barsha Siwakoti, Prakash Ghimire, Rabindra Singh Baniya, Sajan Thapa Magar, Prakash Dahal, Bishu Poudel, and Ghanshyam Joshi, among others.

The film’s story is written by Khagendra Lamichhane, who is also the film’s producer. Cinematography by Krishna Bahadur Thapa and editing by Banish Shah, this film is scheduled for screening during the upcoming Dashain festival starting on Oct 21.

Foreign Minister NP Saud held a telephone conversation with his Israeli counterpart Eli Cohen on Tuesday.

Minister Saud had urged Cohen for necessary coordination and facilitation to repatriate the bodies of Nepali students killed in the attacks by Hamas in Israel.

He also urged Cohen to help in the treatment of Nepali nationals and help in searching for a Nepali national who has been missing following the attacks in Israel.

Minister Saud has urged his Israeli counterpart to help in providing basic essentials to the Nepali nationals who were relocated to a safer place by the Israeli army.

He also informed Minister Cohen that some Nepali citizens living in bunkers have been asking to arrange safe accommodation.

Saying that the Foreign Ministry has been collecting details of the Nepali nationals living in Israel, Minister Saud urged the Israeli government for the necessary assistance to repatriate the Nepali nationals stranded in various places of Israel.

During the conversation, Minister Saud expressed his sympathy for the loss of property caused by the attacks of Hamas and said that the government of Nepal stands in support for Israel in this difficult time.

Dubbing the Hamas group as terrorist, Foreign Minister Cohen expressed heartfelt condolences over the death of 10 Nepali students in the attacks by Hamas.

He expressed his commitment to extend necessary assistance to send the bodies to Nepali students back home.

At least 1,152 cases of scrub typhus have been reported in Sudurpaschim Province in the past two months alone.

According to Hemraj Joshi, Vector Control Inspector of the Sudurpaschim Provincial Health Directorate, Dipayal, Kailali district reported the highest 440 scrub typhus cases. Similarly, 140 cases have been reported in Darchula, 133 in Bajhang, 111 in Achham, 94 in Dadeldhura, 90 in Kanchanpur, 89 in Doti, 48 in Baitadi and seven in Bajura.

The patients are receiving treatment in the various health institutions of the respective districts.

Some of the patients have been discharged. Last year, the province reported 275 cases.

Dadeldhura had the highest 545 cases. Similarly, 529 cases were reported in Kailali, 377 in Kanchanpur, 324 in Darchula, 179 in Baitadi, 141 in Achham, 63 in Bajhang and 62 in Bajura. Symptoms include high fever, headache, excessive sweating, red eyeballs, diarrhoea and rashes over body parts.

People with any of these symptoms should visit a doctor for a diagnosis as symptoms are matched with that of COVID-19, said Joshi, adding that patients will get completely treated after taking medicines. "The infection can take a serious form if not treated timely. It attacks and may damage the brain, liver, lungs and other organs."

The disease spreads to people by the bite of a mite infected with the bacteria that causes scrub typhus fever. It does not spread from person to person, he said. "Infected mites are found in shrubs, farmlands, forests and around houses. To be safe from the insects, people should wear clothes that cover their whole body while working in the farmlands or forests." The infection takes place from July to October.

On the first day of advance ticket booking at Gongabu Bus Park for the upcoming Dashain, Tihar, and Chhath festivals, over 24,000 individuals have reserved their seats to travel to their hometowns.

The government opened advance ticket booking for long and medium routes from Monday targeting passengers going to their homes in districts outside the Kathmandu Valley and vice-versa for the upcoming festivals.

The number of passengers at the bus park has increased this year as opposed to previous years, it has been said. Ticket counters at the bus park have been crowded with passengers going to places like Darchula, Dadeldhura, Dhangadhi, Tikapur, Bajhang, Bajura, Salyan, Rukum, Puythan and Rolpa in the west and Taplejung, Ilam, Kakadvitta, Udayapur and other places in the east.

According to Pankaj Malla, Spokesperson for the Lhotse Multi-Purpose Pvt Ltd, the operator of the bus park, 24,340 people received tickets on Monday, the first day of advance ticket booking.

Aspiring passengers reached the bus park on Sunday night seeking tickets.  However, ticket booking for short routes will be opened from Ghatasthapana, the first day of the 15-day Dashain festival, which falls on October 15 this year, said authorities.

The government is at work to open road permits for traffic in all areas of the country for Dashain. Every year, around 2.2 million passengers leave Kathmandu for their home during Dashain.

Meanwhile, Lhotse Multipurpose Pvt. Ltd. has added 24 booking counters at the bus park in collaboration with transport entrepreneurs, according to Malla.

From the bus park, around 1,000 public vehicles commute between Kathmandu and more than 68 districts outside on a daily basis, said transport entrepreneurs.

Meanwhile, police have deployed security forces in plain clothes in the bus park area to contain the potential offenses during the festival time.

Senior Superintendent of Police Bhupendra Bahadur Khatri, the Chief of Kathmandu District Range, said that over 50 police personnel have been deployed in the area.

The Range has set up citizen help desks at 14 locations in Kathmandu district under the special security plan implemented in view of the festival time.

The Nepal Stock Exchange (NEPSE) plunged by 19. 06 points to close at 1,889.59 points on Tuesday.

Similarly, the sensitive index dropped by 3. 45 points to close at 361. 31 points.

A total of 4,287,424-unit shares of 282 companies were traded for Rs 1. 28 billion.

Meanwhile, Upper Lohore Khola Hydropower Company Limited was the top gainer today with its price surging by 5. 86 percent.

Likewise, Barahi Hydropower Public Limited was the top loser with its price dropped by 7. 64 percent.

At the end of the day, the total market capitalization stood at Rs 2. 88 trillion.

Last week, the World Bank and International Monetary Fund (IMF) came up with their respective reports highlighting the state of Nepal’s economy. 

Both reports state that Nepali economy, which is currently going through a recession, will grow in the coming days mainly due to the positive indications in agriculture, tourism and remittances.
For the first time, the government has acknowledged that the nation is in a recession, which is primarily caused by a decline in industrial production, low investment, liquidity crisis, high-interest rates, widening trade deficit, low capital spending, and decrease in tax revenue.

The IMF’s prediction is that Nepal’s economy will grow by 3.5 percent in the current fiscal year. Similarly, the World Bank has projected that Nepal’s economy is poised to achieve a growth rate of 3.9 percent.

In September, the Asian Development Bank had anticipated Nepal’s economy to grow by 4.3 percent in 2024, up from the estimated growth of 1.9 in the fiscal year 2023.  

Nepal’s external situation has improved because of responsible fiscal and monetary policies, robust remittances, and rising tourism. After slowing down in 2018, growth is anticipated to pick up in the fiscal year 2023/24 to 3.5 percent, although it will still be below potential due to weak domestic demand and high inflation.

The Extended Credit Facility (ECF) arrangement’s third review calls for a disbursement of about $51.3m, and the Nepali government and IMF team have agreed at the staff level.

Despite monetary easing, necessary balance sheet repairs have been preventing credit expansion. The ECF’s reforms seek to increase credit stability and promote economic growth while preserving external and price stability. In order to increase demand, the budget calls for accelerating the planned increase in capital spending.

Senior economist at the IMF Tidiane Kinda stated in a statement that regardless of monetary easing, loan growth has been constrained by the need to restore balance sheets following the credit boom and a downturn in the real estate market. In August, Nepal’s inflation maintained its high at 7.5 percent, according to the IMF, but it is anticipated to decline. The forecast for Nepal over the medium term is still positive, as planned investments in infrastructure, particularly in the energy sector, are anticipated to help sustain potential growth.

The Nepali government is working to strengthen Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT), notably by amending existing AML regulations to conform to global norms. On the country’s side, however, growth is projected to have slowed in the most recent financial year due to import restrictions from the previous year, regulatory uncertainty regarding land markets and construction licensing, lower credit flows, and weaker domestic demand in the context of significant post-Covid emigration outflows.

The resulting revenue shortfall caused the fiscal deficit to increase in the most recent fiscal year, but it did so at a level that still fits with a manageable level of public debt, demonstrating budgetary restraint. However, there seems to be a contradiction in the IMF, World Bank, and Nepal government’s perceptions.

The expansion of Nepal’s economic growth is predicted by the World Bank for the upcoming fiscal year. The World Bank claimed that it anticipates Nepal’s economy will rebound to a 3.9 percent growth rate in the fiscal year 2024. It also indicated that Nepal's Gross Domestic Growth Rate will stay at 1.9 percent this year.

According to the update, Nepal can revive its economy by fostering tourism as well as export and remittances. Even while Nepal’s economy currently benefits greatly from tourism, there are still chances for more investments to increase returns, particularly for local communities. This is significant since Nepal is one of many nations attempting to solve the Covid-19 pandemic-related development setbacks while attempting to limit massive biodiversity losses.

Within the next three years, Nepal hopes to become a middle-income country, and the government has been painting a picture of a thriving economy based on data showing rising remittances and improvements in the tourism industry. However, the general state of the nation’s economy is getting worse by the day.

Chiranjibi Nepal, former governor of Nepal Rastra Bank and a senior economist, points out that the World Bank's optimistic outlook is in contrast to the challenging reality on the ground. He emphasizes that to truly understand a country's financial condition, we must observe local financial developments. He argues that international reports tend to highlight the positive aspects and may not accurately reflect the true economic situation. Nepal's government should focus on policies that stimulate local financial markets instead of relying solely on external reports.

“These reports are made by financial backers which demonstrates the positive side. How could a financial backer focus his/her interest into destruction?” he says. 

Senior economist Dr. Chandra Mani Adhikari says Nepal’s economy is distinct from other nations. This is the busiest time of year for Nepal’s economy, but it appears to be stagnating this year due to limited expansion, low wages, inflation, inadequate investment, corruption, lack of private sector confidence, youth migration, and sudden radical shifts in policy.

These are just a few of the economic features that Nepal is experiencing, Adhikari says, The Nepali economy has become stuck in a downward spiral of high inflation and sluggish growth.

“The banks have money deposited by particular persons that is fixed, and people are also cautious about spending because of the financial crisis, thus money movements in marketplaces are minimal these days. The government is unable to invest money on the market and reassure its citizens that everything is alright,” he says. “To stimulate the economy, the government should increase its development expenditure, which injects money into the market.”