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The price of gold has increased by Rs 300 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 192, 300 per tola today. It was traded at Rs 192, 000 per tola on Wednesday.

Similarly, the silver is being traded at Rs 2, 265 per tola today.

The reconstruction and management of the Jhyaple River section, damaged by a landslide under the Nagdhunga–Naubise road stretch, is in its final stages. Keshav Prasad Ojha, project chief of the eastern section of the Nagdhunga–Muglin road, said that the repair work is being carried out at a cost of around Rs 20m and is expected to be completed by July.

Following heavy rainfall last year, a massive landslide occurred in Jhyaple River along the Tribhuvan Highway. The landslide killed 35 people and swept 2.7 kilometers downhill from a point 600 meters ahead of Nagdhunga. It destroyed key infrastructure including retaining walls, breastwalls, and culverts.

Ojha said that reconstruction is underway in three phases, two of which have already been completed. “The first step involved protecting a previously built wall in the river, which was in a risky state due to the landslide. We conducted micropiling work to stabilize it. The second step was installing gabion walls in the lower area, which is now nearly complete. The third step, installing soil anchors on the damaged wall, is scheduled for completion by August,” he added.

Despite progress, long-term landslide mitigation in the Jhyaple area is expected to begin only after eight months. The Nagdhunga–Muglin road sees daily traffic of about 15,000 vehicles. Its upgrade is being funded through a concessional World Bank loan and investment from the Government of Nepal.

The 12.26-kilometer Nagdhunga–Naubise stretch is the first package under this project. A contract agreement was signed with the Jiangsu-Sagun JV on 12 April 2022, and construction began on 9 June 2022. The project, originally set to complete by 30 May 2024, has seen two deadline extensions—first to 9 Feb 2025, and again to July 25. The section is currently 84 percent complete, and discussions are ongoing with consultants regarding another extension.

Ojha explained that reconstruction was delayed due to the need for a fresh study and redesign following the unexpected landslide. “We hadn’t anticipated a landslide of this scale. A separate study was launched in October, with resource allocation and modality finalized. The consultant submitted the report in May,” he said. The study, jointly conducted by ITECO and TMS, assessed soil quality and geological conditions. Based on its recommendations, the original contractor, Jiangsu-Sagun JV, was retained for landslide management under a contract variation.

However, Ojha emphasized that this current work addresses only the immediate damage. “A new contract and budget will be needed for a comprehensive landslide management plan in the Jhyaple River area,” he said.

Gyanendra Ghimire, manager of Jiangsu-Sagun JV, said that land plotting above the Jhyaple River contributed to the disaster. “Soil, stones, and debris were left uncleared, forming a landslide-prone area. The landslide occurred when silt blocked drainage and flowed directly into the river,” he explained.

Suman Ghimire, Chief District Officer of Dhading, said the landslide was likely triggered by the area’s weak geological structure. “Risk-reduction work is ongoing,” he said. The Department of Roads has taken a specialized approach for this landslide. Gabion and bamboo-crested walls have been installed to prevent further slides, while micro-piling and RCT wall construction are underway to stabilize the road above the affected area.

Some large U.S. lenders, including Bank of America and Citibank, are working on launching stablecoins at a time when the country is looking to adopt more crypto-friendly regulations, Reuters reported.

BofA CEO Brian Moynihan said on Wednesday the bank is working on launching a stablecoin, and investors can expect the lender to move forward with it, without giving a timeline.

Stablecoins, a type of cryptocurrency designed to maintain a constant value, are usually pegged to a fiat currency such as the U.S. dollar and are commonly used by crypto traders to move funds between tokens.

"We feel both the industry and ourselves will have responses. We've done a lot of work," Moynihan, CEO of the second-largest U.S. bank, said, according to Reuters.

South Korea's top court upheld on Thursday a not-guilty verdict for the chairman of Samsung Electronics Jay Y. Lee, backing two lower court rulings clearing him of accounting fraud and stock manipulation related to an $8 billion merger in 2015, Reuters reported.

The Supreme Court's verdict permanently removes a long-running legal distraction for Lee as Samsung plays catch-up in a global race to develop cutting-edge AI chips.

The Supreme Court upheld an appeals court's ruling dismissing all the charges in the case involving the merger a decade ago between two Samsung affiliates, Samsung C&T (028260.KS), opens new tab and Cheil Industries, which prosecutors said was designed to cement Lee's control of the tech giant.

A lower court last year had also cleared Lee of the charges, according to Reuters.