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A massive fire broke out at a shoe factory in Balaju on Wednesday.

According to Dinesh Mainali, spokesperson at the Metropolitan Police Range, Kathmandu, police with the help of locals and fire engines are trying to douse the fire.

The reason behind the fire is yet to be established.

"Construction stops, mortgage stops. Deliver homes and get repaid!"

That was one of the chants disgruntled apartment buyers in China used at a protest in June. But their ire over unfinished homes didn't stop at signs and chants.

Hundreds of them stopped paying their mortgages - a radical step for China, where dissent is not tolerated, BBC reported.

A young couple who moved to Zhengzhou in central China told the BBC that after receiving the down payment last year, the developer withdrew from the project and construction stalled.

"I have imagined countless times the joy of living in a new home, but now it all feels ridiculous," the woman, who did not wish to be named, said.

A woman in her late 20s who also bought a home in Zhengzhou told the BBC that she too is ready to stop paying her mortgage: "After the project is fully resumed, I'll continue paying."

Many of them can pay but are choosing not to, unlike the US subprime mortgage crisis in 2007 when money was lent to high-risk borrowers who then defaulted, according to BBC.

They have purchased homes in roughly 320 projects around the country, according to a crowd-sourced estimate on Github where homeowners have been posting about their decision. But it's unclear how many actually stopped paying. 

The boycotted loans could total $145bn (£120bn), S&P Global ratings estimates. Other analysts say it could be even higher.

The revolt has rattled authorities, focusing attention on a market already under pressure from a slowing economy and a serious cash crunch.

More alarmingly, it has signalled a lack of confidence in one of the main pillars of the world's second largest economy, BBC reported.

"Mortgage boycotts, driven by deteriorating sentiment toward property, are... a very serious threat to the financial position of the sector," think tank Oxford Economics said in a recent note.

Nepal recorded 1, 090 new Covid-19 cases and two deaths on Tuesday.

According to the Ministry of Health and Population, 2, 958 swab samples were tested in the RT-PCR method, of which 560 returned positive. Likewise, 3, 342 people underwent antigen tests, of which 530 tested positive.

The Ministry said that 438 infected people recovered from the disease in the last 24 hours.

As of today, there are 5, 806 active cases in the country.

The Placement Cell of Kathmandu University is organizing the KU SOM Job and Internship Fair (KJIF) on August 22-23.

KU SOM Job and Internship Fair (KJIF) is an annual flagship event which acts as a bridge between students of KUSOM and Corporate houses. It gives students not only a platform to connect with the company of their choice but also provides employers an opportunity to explore the talent pool of KUSOM. The event aims to derive maximum benefits and provide a win-win solution to both parties.

In the year 2021, KJIF, which was conducted virtually considering the COVID-19 pandemic, witnessed the participation of a total of 60 companies (making it the highest till now).

This year 64 companies have confirmed their participation.

Some of the companies who have confirmed their participation for this year are Laxmi Group, Standard Chartered, Chaudhary Group, IME Group, Leapfrog, E-Sewa, Unilever Nepal, Goldstar, Daraz and Hongfu among others.

Along with the company participation, the organizer is also expecting a maximum participation of 200 students from BBA, BBIS, and MBA of KUSOM.

Since its establishment in 2011, the event has been receiving overwhelming responses from the leading national and multinational companies every year.

The event has been able to achieve its mission of establishing right connections with the industry which is being reflected in the success rate of placements and feedback given by companies about the event along with the students.