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The annual traditional festival of Ghode Jatra, which is also known as Horse Racing Day, is being celebrated in the country's cultural hub of Kathmandu Valley on Wednesday.

The festival is being celebrated annually as per mythology which relates the genesis of the festival after the death of a demon named Tundi.

Public belief has it that the demon who lived on a meadow, which is now at Tundikhel, used to unleash terror among the Kathmandu denizens, particularly children. After his death people rejoiced by dancing on his body by riding horses. There is also a belief that the parade of horses at Tundikhel keeps the demon’s spirit away.

The faster the horses run, the better Tundi’s spirit is dispelled. As per another legend, the Ghode Jatra is held to mark the start of New Year. The festival is celebrated on the day of Krishna Aunsi, as per the lunar calendar, which is a day before the Chaitra Shukla Pratipada and this day is taken as the start of the New Year.

The horse parade, known religiously known as Aswa Yatra, is organized to welcome the New Year. The day before Ghode Jatra is also known as Pichas Chaturdarshi, as per lunar calendar. On the day, the Nepali Army cavalry team performs different artistic stunts riding on their horses. The Jatra is also being marked in Lalitpur today.

The government has declared public holiday to celebrate the festival. 

A top security official in U.S. President Donald Trump's ​administration resigned over the war in Iran on Tuesday, saying the country had posed no imminent threat to the United States, Reuters reported. 

Joe Kent, who headed the National Counterterrorism Center, is the first senior official in Trump's administration to resign over the conflict, now in its third week.

"I cannot in good conscience support the ongoing war in Iran. Iran posed no imminent threat to our nation, and it is clear ​that we started this war due to pressure from Israel and its powerful lobby," Kent wrote in a letter posted ​to social media, according to Reuters. 

The Israeli air strike which killed Iran's security chief, Ali Larijani, has removed one of the Islamic Republic's most experienced and influential policy makers at a critical moment, BBC reported. 

Larijani was not a military commander, but he was a central figure in shaping Iran's strategic decisions.

As secretary of the Supreme National Security Council, he sat at the heart of decision-making on war, diplomacy, and national security.

His voice carried weight across the system, particularly in managing Iran's confrontation with the United States and Israel, according to BBC. 

The size of public debt in the first eight months of the current fiscal year has increased by over Rs 204 billion, reaching Rs 2,878.29 billion.

According to the Public Debt Management Office, at the beginning of the current fiscal year 2082–83 BS (2025–26), which commenced in mid-July, public debt stood at Rs 2,674.04 billion.

During this period, the government owes Rs 1,348.11 billion in domestic borrowing and Rs 1,530.18 billion in external debt. 

Of the total public debt by the end of Fagun, the share of external debt is 53.16 percent, while domestic debt accounts for 46.84 percent.

So far, the total public debt amounts to 47.13 percent of the Gross Domestic Product (GDP).

In the current fiscal year, the government aims to mobilize Rs 559 billion in public debt. 

By the end of Fagun (mid-March), Rs 295.19 billion had been raised, which is 50.44 percent of the total target.

Of the domestic borrowing target of Rs 362 billion, Rs 243.66 billion has been collected, accounting for 67.31 percent of the target.

Similarly, of the external borrowing target of Rs 233.66 billion, Rs 56.89 billion has been raised, which is only 24.31 percent of the target.

In the current fiscal year, the government has allocated Rs 411 billion for the repayment of principal and interest on public debt. By mid-March, payments had reached Rs 242.26 billion, which is 58.94 percent of the annual allocation.

The office stated that, based on Gross Domestic Product (GDP), the total debt servicing cost up to the end of Magh (mid-February) stands at 3.97 percent.

The Nepal Stock Exchange (NEPSE) surged by 13. 51 points to close at 2, 812. 34 points on Tuesday. 

Similarly, the sensitive index dropped by 2. 14 points to close at 482. 56 points.

A total of 34,852,760-unit shares of 340 companies were traded for Rs 1. 62 billion.

Meanwhile, Reliance Spinning Mills Limited (RSML) and Solu Hydropower Limited (SOHL) were the top gainers today with their price surging by 10. 00 percent.

Similarly, NIC ASIA Growth Fund-2 (NICGF2) was the top loser as its price fell by 4. 74 points. 

At the end of the day, the total market capitalization stood at Rs 4. 76 trillion.

Vice President of the Rastriya Swatantra Party (RSP) Dol Prasad Aryal has urged the party’s newly elected lawmakers to fulfill their responsibilities while maintaining the civic trust and confidence placed in them.

Addressing an orientation and introduction program organized by the party for its newly elected lawmakers, Aryal echoed the need for both the party and its representatives to work in the best interests of the nation and its people.

“It is necessary to form a government that can deliver effectively so that citizens can truly feel the presence of the state, end corruption, and establish good governance. Political parties that held state power for a long time are now facing consequences due to their past wrongdoings. This has made our party and the people's representatives more responsible and accountable to citizens,” he said.

Another Vice President, Swarnim Wagle, stressed the need for preserving public trust by respecting and safeguarding the mandate given by voters. 

He added that the party had received a significant level of public support, reflecting strong faith from the electorate.

“Establishing a functional and accountable system is one of the core commitments of our party. The people’s mandate is sufficient for us to act, and we are obliged to deliver with honesty,” he stated.

Wagle also urged party lawmakers to carry out their legislative duties responsibly, recognize the significance of the public mandate, prioritize public concerns, and raise their voices if the party becomes involved in any wrongdoing.

According to the party’s General Secretary, Kabindra Burlakoti, the program aimed to familiarize newly elected lawmakers with parliamentary practices, legislative procedures, policy formulation, and the roles of parliamentary committees.

President Ram Chandra Paudel has expressed heartfelt condolences to KP Sharma Oli, Chairman of the CPN-UML, who is in mourning.

President Paudel visited the residence of former Prime Minister Oli in Gundu, Bhaktapur to express his condolences and other members of the mourning family.

Former Prime Minister Oli's father, Mohan Prasad Oli, passed away last Friday at the age of 97.

Dozens of people are feared dead or injured at a drug treatment centre in Afghanistan's capital after an air strike that the Taliban government blamed on Pakistan, BBC reported. 

The centre in Kabul was hit on Monday evening, killing some people and injuring others, the government's spokesman said on X.

Pakistan denied striking any health facility, saying it "precisely targeted military installations and terrorist support infrastructure" in Kabul and the eastern province of Nangahar, according to BBC.