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The South Asian Association for Regional Cooperation (SAARC) marked its historic 40th anniversary of the adoption of its charter on Monday, commemorating four decades since South Asian leaders endorsed the document during the first SAARC Summit in Dhaka on December 8, 1985.

The day has since been observed annually as SAARC Charter Day.

On the occasion, the Heads of State/Government and Foreign Ministers of SAARC Member States issued dedicatory special messages highlighting the importance of SAARC as a shared platform to foster mutual understanding, collaboration and solidarity in order to build a peaceful, prosperous and integrated South Asia.

Reaffirming their commitment to the ideals and founding objectives as articulated in the Charter, the leaders also acknowledged the imperatives of concerted efforts and meaningful action to harness economic potentials, achieve sustained and equitable development, and to address the shared challenges confronting the region bound by history, culture and destiny.

In addition, the leaders conveyed their felicitations and greetings to the peoples and Governments of the Member States on the occasion of the Charter Day.

In his message, Secretary General of SAARC Md. Golam Sarwar, extended gratitude to the esteemed Member States, Observer States, Development Partners, Diplomatic Missions, regional and international organizations for their invaluable cooperation and support to SAARC through all these years. He also wished for their continued goodwill and steadfast support in the years to come as well.

SAARC has journeyed far, Secretary General said, recounting briefly the journey of SAARC from its focus on institutional strengthening and norm setting in priority areas to the implementation of programs across an array of sectors with a view to materialize the collective aspirations of the people of South Asia. He also hailed the Charter Day as an important occasion to reflect on the past accomplishments and to forge renewed commitment to reinvigorate the SAARC process.

To celebrate the 40th anniversary of the adoption of SAARC Charter, the Secretary General of SAARC and his spouse will host a diplomatic reception in Kathmandu in the evening of December 9, 2025.

The price of gold has dropped by Rs 1, 000 per tola in the domestic market on Tuesday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the yellow metal is being traded at Rs 251, 900 per tola today.  It was traded at Rs 252, 900 per tola on Monday.

The price of silver, however, has increased by Rs 15 and is being traded at Rs 3, 600 per tola.

The Embassy of India in Nepal, in collaboration with the Lumbini Development Trust and Lumbini Buddhist University, organized the third edition of the India-Nepal Cultural Festival in Lumbini on Monday.

Krishna Bahadur Gharti Magar, Governor of Lumbini Province, Munu Mahawar, Additional Secretary (North), Ministry of External Affairs, Government of India, Dr Lharkyal Lama, Vice Chairman of Lumbini Development Trust, and Dr Rakesh Pandey, Deputy Chief of Mission at the Embassy of India in Kathmandu jointly inaugurated the program.

Showcasing the shared cultural heritage and traditions of India and Nepal, the festival highlighted Buddhist history and values, reads a statement issued by the Indian Embassy in Kathmandu. 

The event featured a cultural program, with performances by renowned artists from both countries.

A six-member ICCR troupe led by Sandhya Kunjan Menon Das performed an Odissi dance recital with a Buddhist theme. The evening also included a traditional musical performance by a Nepali band ‘Ghugu Mugu’.

As a part of this festival, an academic seminar titled “India-Nepal Buddhist Heritage: A common Legacy” was organized at the Lumbini Buddhist University in the forenoon of 08 December 2025, according to the statement. 

Eminent Buddhist scholars from India and Nepal discussed the significance of Buddhist heritage in strengthening cultural ties and fostering people-to-people connections between the two countries.

The event underscored the strong cultural and historical bonds between the two nations.

The event drew enthusiastic participation from civil society members, academics, senior monks, and members from the Lumbini Development Trust.

CPN-UML Senior Vice Chairman Ishwor Pokharel on Monday submitted the documents he had prepared for the party’s upcoming general convention to General Secretary Shankar Pokharel, after Chairman KP Sharma Oli did not come to the office.

Earlier in the afternoon, Pokharel had visited the party office in Chyasal, Lalitpur, to meet Chairman Oli with the documents.

The renovation of Gallery Baithak, a historic structure on the premises of Singha Durbar, which was damaged by the 2015 devastating earthquake is unlikely to be completed within the timeframe.

The Special Building Construction Project Implementation Office under the Ministry of Urban Development on June 2, 2024 had signed a contract with Prera ​​Construction Services Pvt. Ltd. for the retrofitting of the building.

According to the agreement, the project valued at around Rs 390 million was to be completed on November 22, 2025.

Earlier on March 23, 2023, the Delegated Management and Government Assurance Committee of the National Assembly had issued a directive that the Gallery Baithak building be preserved as a heritage site.

The then Rana Prime Minister Chandra Shumsher had constructed the Gallery Baithak as a private 'theater' on the premises of Singha Durbar in 1965 BS.

The first Parliament meeting was held in the same building on June 30, 1959 after the 1958 general elections.

The first session of the National Panchayat Assembly was also held in the same building on April 14, 1963.

Similarly, after the 1991 general election, Parliament started holding meetings in the same building.

The first meeting was held in the same building on April 28, 2006 after the formation of the interim government in 2006. The then rebel party, the Maoist also took part in the meeting.

The Gen Z Joint Group on Monday sent a demand letter to Prime Minister Sushila Karki through the post office in Dilli Bazaar being unable to enter Singha Durbar to submit their list of demands.

Experts have urged Nepal to urgently shift toward equity-based investment and implement regulatory reforms, warning that ‘free capital’ inflows will begin to disappear after 2026, when the country graduates from the Least Developed Countries (LDCs) category.

“The era of free money ends,” said Calvin St. Juste, Special Envoy for Investment of the Federation of St. Kitts and Nevis, during a high-level roundtable meeting in Kathmandu on Sunday, reads a statement issued by Asian Institute of Diplomacy and International Affairs (AIDIA).

The event, organized by the Asian Institute of Diplomacy and International Affairs (AIDIA), brought together senior banking leaders, media representatives, and economic analysts to assess Nepal’s investment landscape, its credit rating trajectory, and opportunities arising from shifting global financial currents.

 “Grants fade, and loans cannot sustainably replace them. Equity can,” he added.

The Envoy encouraged Nepal not to fear its forthcoming graduation from LDC status, but instead view it as an inflection point.

He argued that Nepal should shift from loans to equity-based financing, particularly in sectors like hydropower where domestic capacity is strong but international capital remains essential.

“Political uncertainty is temporary,” he said, adding that challenging or not, this is the moment to bring investors in.

St. Kitts and Nevis ranked among Nepal’s top five foreign direct investment (FDI) sources in 2020-21 in the Nepal Rastra Bank’s report.

Addressing widespread misconceptions around ‘tax haven’ jurisdictions, speakers emphasized the importance of distinguishing competitive tax policy from illicit financial practices, according to the statement.

Addressing the persistent label of ‘tax haven,’ he urged Nepal to reframe the global narrative. “Tax competitiveness is not illegal,” Calvin said, adding that tax avoidance is legal; tax evasion is not. “Don’t be fearful of designing a system that allows your economy to survive.”

Calvin shared the experience of St. Kitts and Nevis, which endured bankruptcy in 2005 after decades of dependence on the sugar industry. The turning point, he explained, came when the country shifted from reliance on commodities and concessional aid toward attracting FDI and building investment-driven resilience.

Calvin, on the occasion, also highlighted the structural similarities between the two nations. “Nepal is landlocked, whereas St. Kitts is sea-locked,” he said, adding “In different ways, we are both small states whose destinies can be profoundly shaped by external forces.”

Referencing a recent Fitch report, that Nepal got BB- ratings, pointed to growing investor hesitation due to political unpredictability, he said Nepal should take the ratings advantage. “As investors, you cannot control politics, but you can control risk.”

He also urged Nepal to proactively address systemic vulnerabilities.

On the occasion, Ram Kumar Tiwari, CEO of Nepal SBI Bank informed that investors have begun pulling back due to current political uncertainty, the statement further reads.

Likewise, Ananda Jha, CEO of CARE Ratings Nepal Ltd highlighted Nepal’s own structural challenges, including conflicts across multiple regulators – Nepal Rastra Bank (NRB), Securities Board of Nepal (SEBON) and Electricity Regulatory Commission (ERC) – which often lead to fragmented or convenience-driven policy outcomes.

Despite a growing capital market and rising entrepreneurial activity, the country lacks meaningful international access, he said.

Apart from concerns around liquidity scarcity and investor skepticism, participants also pointed to rigid labor policies and a prevailing working culture misaligned with global productivity expectations.

While acknowledging the value of an eight-hour workday, they stressed that technology and Artificial Intelligence (AI) now enable output many times greater without extending hours.

High tax rates – corporate taxes of 20% to 25% and personal taxes up to 39% – are also flagged as deterrents to large-scale investment in Nepal. Participants also questioned the justification for high taxes without visible improvements in public services, underscoring the importance of customer-centric governance.

Sudyumna Prasad Upadhyaya, Sanima GIC CEO, during the discussion highlighted the insurance and reinsurance companies’ performance and profitability in the Caribbean including St Kitts and Nevis.

Assistant Sub-Inspector (ASI) of Nepal Police Pushkar Karki has been arrested on charge of killing his four-month-old son.

Karki was arrested from Nagdhunga while he was fleeing the incident site, Sinamangal, Kathmandu, according to Pavan Kumar Bhattarai, Superintendent of Police and Spokesperson of District Police Range, Kathmandu.

"We arrested Karki for his involvement in killing his infant son. He was held from Nagdhunga and further investigation is underway," SP Bhattarai said, adding that Karki strangled the infant to death.

Further information would be revealed after the investigation, he added.