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International Relations and Global Diplomacy Dialogue (IRGDD) and Nepal Chamber of Commerce (NCC) signed a Memorandum of Understanding (MoU) in Kathmandu on Tuesday.

The signing ceremony took place during NCC’s Diamond Jubilee Celebration, marking 75 years of its contribution to Nepal’s private sector development.

President of IRGDD Amb. Dr Sarmila Parajuli Dhakal and NCC President Kamlesh Kumar Agrawal signed the MoU during a formal ceremony attended by representatives from both institutions and dignitaries.

The agreement formalizes a shared vision to advance Nepal’s global economic presence through collaborative efforts in trade diplomacy, diaspora engagement, research, policy advocacy, and strategic promotion, reads a statement issued by IRGDD. 

The signing event featured the ceremonial exchange of The Diplomat Nepal magazine and the NCC publication, along with a visit to the Raj Bahadur Memorial Hall, paying tribute to NCC’s founding legacy.

On the occasion, Dr Dhakal emphasized the importance of aligning diplomacy with national economic objectives. She said that the “economy is vital to boost the country's development" and proposed that Nepal’s future lies in leveraging economic diplomacy as a core tool of international engagement.

Introducing the term “Eco-politics,” she added that the economy now leads politics in shaping global agendas. She also underscored the need to improve the marketability of Nepali products through enhanced quality control, adherence to global standards, and better promotion.

NCC President Agrawal echoed this vision, highlighting Nepal’s untapped economic potential in sectors like tourism, IT, hydropower, and natural resources. He pointed out that Nepal is already part of a global economic ecosystem that does not recognize political boundaries, urging stronger and more actionable engagement with the international community, according to the statement. 

The MoU outlines a five-year non-binding partnership focused on strengthening Nepal’s role in global trade and investment networks. It calls for the formation of a Joint Coordination Committee to oversee progress and conduct a mid-term review within six months. This partnership reflects a broader national commitment to contribute meaningfully to Nepal’s growth through coordinated diplomatic and private sector engagement.

Tibetan spiritual leader the Dalai Lama on Wednesday said the centuries-old Tibetan Buddhist institution will continue after his death, ending years of speculation that started when he indicated that he might be the last person to hold the role, Associated Press reported.

Speaking at prayer celebrations ahead of his 90th birthday on Sunday, the Nobel Peace Prize-winning spiritual head of Tibetan Buddhism said that the next Dalai Lama should be found and recognized as per past Buddhist traditions, while signalling that China should stay away from the process of identifying his successor.

The Dalai Lama’s succession plan is politically consequential for most Tibetans who oppose China’s tight control of Tibet and have struggled to keep their identity alive, in their homeland or in exile. It is also profound for Tibetan Buddhists who worship him as a living manifestation of Chenrezig, the Buddhist god of compassion, according to Associated Press.

The Green Climate Fund (GCF) has approved almost Rs 5 billion in grants to help Nepal reduce the growing threat of glacial lake outburst floods (GLOFs).

The 42nd Board Meeting of the GCF held in Papua New Guinea on Tuesday approved the grant assistance while recognizing Nepal's project entitled 'Protecting livelihoods and assets at risks from Glacial Lake Outburst Floods (GLOFs) and climate change-induced flooding in glacial river basins of Nepal’.

GCF's alternate board member on behalf of LDCs Dr Sindhu Prasad Dhungana, who attended the GCF meeting in Papua New Guinea, confirmed that the decision was made to approve a $36.1 million grant to help Nepal protect lives and livelihood from the risks of GLOFs. Nepal's proposal for the project was unanimously approved in the GCF Board Meeting, Dhungana shared.

He said the GCF Board Meeting endorsed 17 projects of the total 19 proposals including that of Nepal.

UN agencies have identified the GLOFs as the major and accelerating climate risk in the Himalayas. "The approval marks a new chapter in how Nepal prepares for climate threats, shifting from reacting after floods to preventing them before they happen. Led by Nepal’s Department of Hydrology and Meteorology in partnership with the United Nations Development Programme (UNDP), the new project will benefit over 2.2 million people living in Koshi and Gandaki river basins," according to UNDP Nepal.

Dhungana shared that the seven-year project is expected to be a model project to reduce the growing threat of glacial lake outburst floods.

The project aims to catalyze future public and private investment in climate risk reduction, setting an example that other high mountain countries can follow, with an additional $14 million in co-financing from the Government of Nepal, UNDP and Independent Power Producers' Association Nepal.

According to UNDP Nepal, the key components of the seven-year project include expanding and upgrading hazard monitoring and early warning systems; reducing water levels in four high-risk glacial lakes (Thulagi, Lower Barun, Lumding Tsho, and Hongu 2); strengthening riverbanks and flood-prone areas through reforestation and protective infrastructure such as check dams and vegetative gabion walls; and helping national and local authorities, first responders and communities to plan and prepare for future risks.

Likewise, UNDP has welcomed the opportunity to partner with the Government of Nepal to tackle some of the most urgent and complex climate risks facing mountain regions. “Supported by the Green Climate Fund, this initiative represents a long-term investment to protect lives and strengthen resilience where it matters most. It is climate action that is both grounded and game-changing, Kyoko Yokosuka, said UNDP Resident Representative in Nepal.

Kamal Ram Joshi, Director General of Department of Hydrology and Meteorology hoped that this project will help protect vulnerable Himalayan communities by strengthening local capacity and safeguarding lives, livelihoods, and infrastructure.

Saying that 21 glacial lakes are at high risk of outbursts in Nepal, Joshi mentioned that the CGF grant was a great achievement since it supports our efforts for risk management. The stakeholders have described this project as a significant milestone in Nepal's efforts to strengthen climate resilience.

The monsoon wind has its influence throughout the country at present with the monsoon low pressure trough closer to its average position, the Meteorological Forecasting Division said. 

The weather will be generally cloudy across the country today.

There is a possibility of light to moderate rainfall with thunder and lightning in some areas of the hilly regions of the country including Koshi, Bagmati, Gandaki, Lumbini and Sudurpaschim Provinces, as well as in some areas of the remaining regions.

The Division stated that there is a possibility of heavy rainfall in one or two places in the Koshi, Bagmati, Gandaki, Lumbini, Karnali and Sudurpaschim Provinces.

There is a possibility of light to moderate rain and snowfall in some areas of the country's high hilly and mountainous region.

Similarly, tonight it will be generally cloudy in the hilly areas of the country.