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The Gurung community is observing the Tamu Lhosar today as the community's New Year. 

In the Gurung language, ‘Lho’ means year and ‘Sar’ denotes change.    

Members of the Gurung community mark the festival by organizing feasts and cultural programs.

The festival is marked on the 15th day of the Nepali month of Poush with the first rays of the sunlight reaching the Gurung settlements in Lamjung, Gorkha, Tanahun, Syangja, Manang, Kaski and Parbat.    

The festival is marked by the Tamang and Sherpa communities later in the Nepali months of Magh and Falgun, respectively.    

The government has announced a public holiday on the occasion of Tamu Lhosar today. 

Members of the Gurung community have been observing a special program at Tundikhel, Kathmandu, on the occasion of Tamu Lhosar.  

The Gurungs divide their year into 12 cycles and each cycle is represented by 12 different animals -- Garuda (eagle), serpent, horse, sheep, monkey, bird, dog, deer, mouse, cow, tiger and cat -- which they call “Lho.”  During each Lhosar, they bid farewell to the existing 'Lho' and welcome a new one.

This year, the Gurung community is going to celebrate Lhosar by bidding farewell to the Snake cycle and welcoming the Horse cycle on Tuesday.

The Election Commission (EC) has determined the maximum amount that a candidate can spend for the House of Representatives (HoR) elections scheduled for March 5.

As determined by the EC, the spending limit is different for remote districts, and others with better access to services and connectivity networks.

According to the EC, the candidates from constituencies 1, 3, 6, 7 and 8 can spend upto Rs 2.5 million. 

Likewise, Rs 2.7 million of spending limit is set for the candidates from 17 constituencies.

The candidates from 65 other constituencies can spend a maximum of Rs 2.9 million, it is said.

EC Spokesperson Narayan Prasad Bhattarai said that the candidates from 52 election constituencies can spend upto Rs 3.1 million and Rs 3.3 million by the candidates of 26 election constituencies.

The EC has also asked the candidates to open a separate bank account in a bank and financial institution for the purpose of the HoR election and a responsible person should be named for the spending authority during the election.  

After the completion of the polls, the candidates should submit the election cost to the EC within 35 days of the polls as per the HoR Member Election Act.

Beyonce has been declared a billionaire by Forbes, making her the fifth musician to join its list of the world's wealthiest people, BBC reported. 

The American star has joined an elite group of musicians with 10-figure fortunes, Forbes reports, including Taylor Swift, Rihanna, Bruce Springsteen and her husband Jay-Z, who the business magazine lists as having a net worth of $2.5bn (£1.85bn).

Earlier this month, Forbes estimated Beyoncé's net worth of $800m (£593m) and predicted she would cross the billionaire threshold for the first time following years of success, according to BBC. 

A scheme to encourage climbers to bring their waste down from Mount Everest is being scrapped - with Nepalese authorities telling the BBC it has been a failure, BBC reported. 

Climbers had been required to pay a deposit of $4,000 (£2964), which they would only get back if they brought at least 8kg (18lbs) of waste back down with them.

It was hoped it would begin to tackle the rubbish problem on the world's highest peak, which is estimated to be covered in some 50 tonnes of waste, according to BBC. 

But after 11 years - and with the rubbish still piling up - the scheme is being shelved because it "failed to show a tangible result".

Donald Trump said he hoped to reach phase two of the Gaza peace plan "very quickly", as he warned Hamas would have "hell to pay" if it did not disarm quickly, BBC reported. 

The US president, whose 20-point peace plan requires the militant group to disarm, made the comments as he met Israeli Prime Minister Benjamin Netanyahu in Florida for talks on Monday. 

During a press conference with Netanyahu after their meeting, Trump said Israel had "lived up to the plan 100%", despite continuing attacks by its military in Gaza, according to BBC. 

President Volodymyr Zelensky has denied allegations by Russia that Ukraine launched a drone attack on one of President Vladimir Putin's residences, and accused Moscow of trying to derail peace talks, BBC reported. 

Russia's Foreign Minister Sergei Lavrov claimed Kyiv had launched an attack overnight using 91 long-range unmanned aerial vehicles (UAVs) on Putin's state residence in Russia's northwestern Novgorod region.

Russia said it would now review its position in peace negotiations. It is not yet clear where Putin was at the time of the alleged attack, according to BBC. 

In a significant political development, the Ujyalo Nepal Party led by Energy Minister Kulman Ghising has merged with the Rastriya Swatantra Party. 

Ghising will remain in second place as the Vice President of the Rastriya Swatantra Party. 

The agreement was reached following a meeting between Rastriya Swatantra Party President Rabi Lamichhane, Ghising and Kathmandu Metropolitan City Mayor Balen Shah today.

Lamichhane, Shah and Ujyalo Nepal Party Chairman Anup Kumar Upadhyay signed the agreement.

The Office of the Auditor General has released the consolidated financial statements for the federal, provincial, and local governments for the fiscal year 2081/82 BS. 

Auditor General Shobhakanta Paudel presented the report today to Finance Minister Rameshwor Prasad Khanal and Comptroller and Auditor General Toyam Raya. 

The Office of the Auditor General is tasked with the preparation and presentation of the consolidated financial statements and reports regarding the operations of the federal consolidated fund across all three levels of government.

“In the fiscal year 2081/82 BS, while the consolidated fund for the federal, provincial, and local governments recorded a negative balance of Rs 108.99 billion, the cash position remained favorable at Rs 104.1384 billion," the press release from the office said. 

"Considering the balances of various extra-budgetary funds from the federal, provincial, and local governments, the cash and bank balances have stayed positive at Rs 188.9458 billion." The report, which adheres to the Nepal Public Sector Accounting Standards sanctioned by the Government of Nepal and the accounting format approved by the Auditor General, also encompasses details mandated by existing laws for the federal, provincial, and local governments, along with extra-budgetary entities, as stated.