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Prime Minister KP Sharma Oli has urged the businesspersons to invest confidently, while sharing that there is political stability in the country. The stable politics has paved the way for economic development.

Addressing the inaugural function of the 74th annual general assembly of Nepal Chamber of Commerce on Wednesday, PM Oli said the industrialists could forward constructive and creative schemes with use of science and technology to augment investment.

PM Oli reminded that artificial intelligence (AI) could be utilized for production and productivity rather than for spreading misleading information and defaming people and institutions. "We are in need of increasing foreign investment and joint ventures. You should convince the foreigners to invest in potential areas," he said, adding that the investment is essential not only for businesspersons but for the entire country.

According to him, the Chamber had hailed the ordinance the government brought for economic development. He praised the Chambers' stand of favouring the cause for good.

Moreover, the PM said the country needs good governance and development, but corruption is creeping surreptitiously. Corruption control warrants all sides' cooperation, he stressed. 

On a different note, he reminded the government formed by the two large parties was for change and the coalition would continue even after the next election. 

PM Oli thanked the Chamber of Commerce for assisting the government in the issues relating to policy formulation.

Different industrialists and businesspersons were given awards by the PM at the program.

The PM also released a book published by the Chamber of Commerce.

Indian Minister for Agriculture and Farmers' Welfare Shivraj Singh Chauhan paid a courtesy call on Prime Minister KP Sharma Oli on Wednesday. 

Minister Chauhan, who is currently in Nepal to attend a meeting of agriculture ministers of Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC), called on PM Oli at the latter's official residence, Baluwatar.

Referring to dimensions of the traditional relations between Nepal and India, Minister Chauhan stressed the need for bilateral cooperation to augment the modernization of agriculture, food security and economic development. 

The bilateral agreements and joint working mechanism should be forwarded and for which he was ready to work in a dynamic manner with equal concern on pressing issues. 

He argued that the recent meeting between Nepali Prime Minister Oli and the Indian Prime Minister Narendra Modi in Bangkok, Thailand, was an opportunity to create a promising future for the two countries.

On the occasion, PM Oli expressed the view that the two neighbours should move forward together for economic development, including modernization of the agricultural sector.

The Indian Agriculture Minister reminded that the meeting with the Indian counterpart in Thailand created an atmosphere of trust to move ahead together for economic development. Oli stressed the need to embrace the changing global environment and unite for national, regional and international interests. 

PM'S Chief Advisor Bishnu Prasad Rimal and Indian Ambassador to Nepal Naveen Srivastava were also present in the meeting.

Russia has formally invited Prime Minister Narendra Modi to Moscow's triumph Day Parade on May 9, which commemorates the Soviet triumph over Nazi Germany in World War II.

The invitation was confirmed by Andrey Rudenko, Russia's Deputy Foreign Minister. This comes in the midst of speculation that PM Modi may skip the event, Firstpost reported.This suggests that PM Modi's visit is now being discussed between the two countries, with Moscow hoping that the Indian Prime Minister will attend the high-profile event.

Russia has invited leaders of several friendly nations to attend this year's Victory Day parade.In January 1945, the Soviet Army launched an offensive against Germany, according to Firstpost.

For the first time in almost five years, Prime Minister Modi traveled to Russia in July 2024. At an economic conclave in 2019, he traveled to Vladivostok, a place in the far east.
PM Modi invited Russian President Vladimir Putin to come to India during the most recent visit and Putin has already accepted.

However, the dates of Putin's visit have not been revealed yet.
 

China has announced new tariffs of 84% on the US, in a response to US president Donald Trump’s trade war that will raise fears of further escalation.

According to Reuters, the Chinese ministry of finance has declared that taxes on US imports will increase to 84% beginning Thursday, up from 34% previously announced.

On Wednesday, Trump imposed 104% tariffs on Chinese exports to the United States. China's announcement describes Mr. Trump's tariffs as "a mistake on top of a mistake".

Stock markets fell further on China's announcement of retaliatory tariffs, Reuters reported.

The FTSE 100 is down 3.4%. The Stoxx 600 index, which monitors Europe's largest corporations, is now down 4.2%. Germany’s Dax has fallen 3.4% today, while France’s Cac 40 has dropped 3.4%.