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

According to the Federation of Nepal Gold and Silver Dealers’ Association, the precious yellow metal is being traded at Rs 243, 000 per tola today. It was traded at Rs 242, 300 per tola on  Wednesday.

Similarly, the silver is being traded at Rs 3, 185 per tola today.

All 267 people aboard a South Korean passenger ferry have been rescued after it ran aground on rocks off the country's south-east coast, according to the Coast Guard, BBC reported.

Officials said the Queen Jenuvia 2 is stuck on a reef and unable to move, but there is currently no risk of it sinking or capsizing.

The accident happened near Jangsan Island in Sinan County on Wednesday evening local time. The vessel ran aground on rocks near the uninhabited island of Jogdo, according to BBC.

At least 25 Palestinians have been killed in Israeli strikes across the Gaza Strip, the Hamas-run health ministry has said, BBC reported.

Ten people, including a woman and a young girl, were killed when a ministry of religious endowments building in the eastern Zeitoun neighbourhood of Gaza City was hit, according to rescuers.

The Israeli military said it had struck "Hamas terrorist targets" after it said gunmen had opened fire towards an area where its soldiers were operating in the southern city of Khan Younis, in violation of the five-week-old ceasefire agreement, according to BBC.

Two Miss Universe judges have resigned days before the annual beauty pageant, with one of them accusing organisers of rigging the selection process, BBC reported.

Lebanese-French musician Omar Harfouch, who announced his resignation from the eight-member jury on Instagram, alleged that an "impromptu jury" had pre-selected finalists ahead of the competition, set to be held on Friday in Thailand.

Hours later, French football manager Claude Makelele also announced he'd pulled out, citing "unforeseen personal reasons".

Senior Pentagon officials have arrived in Ukraine to "discuss efforts to end the war" with Russia, the US military has said, BBC reported.

The team, led by US Army Secretary Dan Driscoll, is expected to meet Ukrainian President Volodymyr Zelensky in Kyiv on Thursday when he returns from a trip to Turkey.

Reports began surfacing on Wednesday that the US and Russia had prepared a new peace plan, containing major concessions from Ukraine. Neither Washington nor Moscow has officially confirmed the plan, according to BBC.

Prime Minister Sushila Karki has asserted that the election to the member of  the House of Representatives (HoR) announced for March 5 is the only legitimate outlet to protect the country from constitutional uncertainty. 

In her address to an all-party meet held at the Office of the Prime Minister and Council of Ministers on Wednesday, she urged all the political parties to participate in the election process in a timely and responsible manner. 

Noting that the incumbent government was formed on the foundation of the genuine voice of the young generation and the movement against decade-long political irregularities, she said, “Youths have imparted a message. It's enough now. The politics of corruption, bad governance and undue access does not work from now onwards”. 

Based on this historical mandate, the President announced the election for March 5 by dissolving the HoR to give a political outlet taking into consideration the immediate need, the PM added. “The announcement was the only mandatory move to protect the country from the constitutional crisis and keep the country intact on the democratic track”, the PM claimed. 

The country has stood in the decisive mode and the gathering today is not only a ritual but a shared platform and opportunity to demonstrate high political resolution to ascertain the future of the democracy, the PM further said. “All should give the answer of the question whether to shape the democratic future or push it to the path of further uncertainty”. 

Saying that successful conduct of the HoR member election in the stipulated time (March 5) was the government’s constitutional obligation and solemn commitment towards the people, she said there is no confusion and deviation from this stance.  “Our commitment to election compulsion is strong and clear”, she said, adding the uncertainty seen among some political parties with the demand for parliament reinstatement and questioning over  legality of the government can bring the country to the state of instability. “We therefore should engage our political debate for election or the constitutional way out”, PM Karki further said. 

There is no alternative to the forces having conviction on democracy to abstain from the elections, she viewed, urging the parties to not deviate from their constitutional obligation by voicing for the reinstatement of the parliament. 

The PM went on saying, “Without participation and support of the political parties it is impossible to envision the election. I humbly request the political parties to ensure registration at the election commission within November 26 for election purpose”. 

She argued that this is not only an administrative process but also a test of the minimum political commitment towards the nation. “Not registering the parties or boycotting the election would be considered a choice of anarchy rather than a commitment to the protection of democracy”. 

Also on the occasion, the PM shared her grievance to the malicious expressions made by some leaders which she said has polluted the social environment. 

The PM asserted that the government would fully help the election commission to take action against those making such hate speech in a way to breach the election code of conduct. 

Stating that the incumbent government is oriented towards maintaining security and good governance in the country, Prime Minister Karki mentioned that the election would not be successful without establishing the political parties' confidence over it. 

She shared that the recently held Gen Z protest had called for an end to the trend of protecting brokers, middlemen and the corrupted. "We fully respect this voice. Youth dissatisfaction is not only the problem of legal provision. This is demand for structural and political resolution," opined PM Karki. 

Stating that the government wants to transform youths' aggression into positive energy through the ballot, she said that the government has been working to reform election laws through ordinance to increase youths' participation in the election. 

The government has been carrying out fair investigation into violent incidents that occurred during the Gen Z protest and bring the guilty under the ambit of law, the Prime Minister shared, adding the National Vigilance Centre is going to be empowered to carry out close monitoring of the impartiality of the activities of the public bodies. 

"Holding elections in a peaceful and fearless environment is the high-priority of the government. An environment will be created where every citizen can cast votes without any fear, for this any political dispute and anarchy shall be addressed," argued the PM. 

She said mobilization of security personnel in plain clothes and intelligence officers has been increased, keeping the districts, which are categorized as sensitive in view of security for risk management, as 'hot-spot'. "The government has been coordinating with the Election Commission to resolve problems related to election management in mountain districts." 

The Prime Minister further said initiatives are being taken for discussion with all sides in order to control political violence and confrontation. "This government is a bridge built for democratic outlets. Its success and utility depends on political determination and restoration of people's trust", she viewed, urging leaders of all political parties to be united in this big moment of national consensus. 

"I urge for cooperation and full commitment to fulfill the constitutional responsibility by registering parties within November 10 and taking part in the election on March 5 in a peaceful, economical and reliable manner," said Prime Minister Karki.

The Government of Nepal and Millennium Challenge Corporation (MCC) under the US Government have announced an additional grant  of USD 50 million (around Rs 7 billion) for the MCC Nepal Compact.

With this announcement, the total amount available for Nepal under the Compact has reached USD 747 million  (around Rs 106 billion), of which 550 million dollars will be provided by the US Government and the remaining 197 million dollars by the Government of Nepal.

This additional funding is expected to help deliver the Compact’s core objectives: completing priority electricity transmission infrastructure, strengthening Nepal’s power system, and enabling increased regional power trade. 

By improving grid reliability and market access, the Compact is expected to support international connectivity and promote American excellence and best practices in energy infrastructure. The Compact also expands opportunities for US companies and technology to enter Nepal’s market, the US Embassy in Kathmandu stated.

This financial aid from the US government reflects the sustainable partnership between the United States and Nepal. 

It may be noted that for decades, the two countries have established partnership in the efforts to advance economic growth, energy security, and mutual prosperity. 

According to the US Embassy in Kathmandu, the MCC Nepal Compact continues that history through grant-based, debt-free assistance focused on high-impact infrastructure, it is said.

The Nepal Stock Exchange (NEPSE) plunged by 4. 98 points to close at 2, 561 . 08 points on Wednesday.

Similarly, the sensitive index dropped by 1. 26 points to close at 442. 26 points.

A total of 8,388,373-unit shares of 338 companies were traded for Rs 3. 77 billion.

Meanwhile, Mabilung Energy Limited (MABEL) and Daramkhola Hydro Energy Limited (DHEL) were the top gainers today with their price surging by 10. 00 percent.

Likewise, Corporate Development Bank Limited (CORBL) was the top loser as its price fell by 6. 03 percent.

At the end of the day, the total market capitalization stood at Rs 1. 45 trillion.