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Prime Minister KP Sharma Oli has said that geography must no longer determine destiny. 

"With strengthened partnerships, smart investments and unwavering collective will, we can overcome limitations of 'landlockedness' and ensure economic prosperity to our people," PM Oli said while addressing the UN Conference on Landlocked Developing Countries (LLDCs) in Turkmenistan on Tuesday.

He informed that Nepal firmly believes that regional solidarity and global cooperation are vital to bridging the development divide. "We are confident that, with the continued support of our neighbours, India and China, and the broader international community, we can transform the barriers of 'landlockedness' into gateways of opportunity," PM Oli underscored. 

“As a committed member of the LLDC family, Nepal stands ready to work with all of you, not only as a beneficiary of change, but also as a partner in shaping it,” PM Oli said.

Togetherness for driving progress 

He called for togetherness to drive progress for a future interlocked by connectivity, powered by innovation and defined by resilience, inclusion and shared prosperity.

PM Oli, however, said the LLDCs continue to face persistent structural barriers: geographical isolation, dependency on transit countries, inadequate transport networks and limited integration into regional and global markets.

These challenges are even more acute for half of the LLDCs that are also LDCs. Their very geography of 'landlockedness' continues to hinder their development. He reminded that despite two decades of journey from Almaty to Vienna Program of Action, LLDCs still grapple with infrastructure and connectivity deficits, high trade and transit costs, limited diversification and little value addition, heavy reliance on primary commodity exports, low levels of private investment, and growing vulnerability to climate change and disasters. These barriers pose severe impediments to their economic growth and development, the PM argued.

LLDCs need unlocking potential

"LLDCs are not just defined by their inherent geographical constraints. They are also defined by their potential. These countries are rich in untapped natural endowments, offering many investment opportunities. They are home to youthful and innovative populations. They are increasingly engaging in the digital economy," he PM lauded, underlining the urgency to unlock such potential.

According to him, the Awaza Programme of Action offers a renewed opportunity to address these long-standing bottlenecks and seize new pathways toward inclusive and resilient growth. But we must be clear: ambition without action will not suffice, he exhorted, highlighting the need for stronger political will, renewed and strengthened global partnership that leaves no country behind, and coordinated actions at all levels. 

The Awaza PoA outlines five clear priorities under the theme of “Driving Progress through Partnership”: Structural transformation and STI; trade facilitation and regional integration; transit, transport and connectivity; climate resilience and adaptation; and means of implementation, the PM shared.

"With the right policies, strong solidarity and support, LLDCs can transition: from landlocked to land-linked, from transit-dependent to trade-competitive, and from climate-vulnerable to climate-resilient countries," PM Oli said.

In his opinion, science, technology and innovation, especially digital technologies, hold immense promise to overcome the physical limitations of LLDCs. This Conference is a call to collective resolve. It is a pathway to equity, inclusion and shared opportunity.

PM Oli underlined, "Invest in smart, sustainable, and climate-resilient infrastructure; deepen regional and subregional cooperation; harness the opportunities offered by technology to advance and accelerate development; and drive progress through inclusive global partnerships with shared responsibility."

He sought renewed commitment to convert the Awaza Programme of Action into tangible and measurable progress, for more than 570 million people who live in the LLDCs.

Awaza Programme of Action blueprint for decade

He shared that Nepal welcomed the Awaza Programme of Action as a visionary and actionable blueprint for the decade ahead. Its priorities strongly resonate with Nepal’s national goals, including our national aspiration of a “Prosperous Nepal, Happy Nepali.” 

Irrespective of being a landlocked LDC graduating next year, Nepal continues to face high transport costs, limited regional integration, and inadequate infrastructure, according to him.

Our vision is to transform Nepal from a landlocked country to a land-linked country.

The Head of the Government also informed about Nepal's investment priority like expanding highways and railways, cross-border trade routes, digital corridors, and green energy partnerships.

"We are working closely with our neighbours, India and China, to enhance connectivity and integration across multiple domains. We are also committed to aligning our efforts with regional and international initiatives to ensure that LLDC-specific vulnerabilities are addressed in broader development frameworks," he explained during the address.

At least four people have died and many are feared missing after a devastating flash flood triggered by a cloudburst in the upper catchment area of the Kheer Ganga river caused large-scale destruction in Dharali village in Uttarkashi district on Tuesday, The Times of India reported.

Uttarkashi district magistrate Prashant Arya confirmed the deaths of four people in the flash flood that struck Dharali village.

"A massive wave of flash flood hit the area. We are currently assessing the extent of damage to life and property," Arya said.

He added that teams from the Army, National Disaster Response Force (NDRF), and State Disaster Response Force (SDRF) have been deployed to the affected areas to carry out search and rescue operations, according to The Times of India.

Newly appointed Chief Minister of Bagmati Province Indra Bahadur Baniya has taken oath of office and secrecy today.

Province Chief Deepak Prasad Devkota administered the oath of office and secrecy to Chief Minister Baniya amidst a ceremony at the former's office, Hetauda on Tuesday afternoon. 

Province Chief Devkota administered the oath of office and secrecy to Chief Minister Baniya as per Article 168 (2) of the Constitution.

Baniya had claimed the Chief Minister's post before Province Chief Devkota on Monday along with signatures of 64 Province Assembly Members of the Nepali Congress and the CPN UML in his support.

It has been learnt that newly appointed Chief Minister Baniya is forming an eight-member Cabinet having six province members from UML and two from NC on Tuesday itself. 

The Nepal Stock Exchange (NEPSE) plunged by 41. 78 points to close at 2, 833. 57 points on Tuesday.

Similarly, the sensitive index dropped by 6. 51 points to close at 488. 39 points.

A total of 22,207,142-unit shares of 325 companies were traded for Rs 9. 33 billion.

Meanwhile, Samaj Laghubittya Bittiya Sanstha Limited (SAMAJ) and Unnati Sahakarya Laghubitta Bittiya Sanstha Limited (USLB) were the top gainers today with their price surging by 10. 00 percent. Likewise, Three Star Hydropower Limited (TSHL) was the top loser as its price fell by 10. 00 percent.

At the end of the day, the total market capitalization stood at Rs 1. 60 trillion.

A light earthquake hit Myagdi district on Tuesday.

According to the National Semismological Centre (NSC), Launchaur, it recorded a tremor of local magnitude 4.5 at 1:03 pm with its epicenter near Gurjakhani of Myagdi. 

The NSC said that it was a fresh earthquake.

The Special Committee formed by the Parliament to investigate errors in the Report on the Federal Civil Service Bill has submitted its report to the Speaker Devraj Ghimire today. 

Committee coordinator Jeevan Pariyar submitted the report to the Speaker at the Federal Parliament Building, New Baneshwor.

The committee finalized its report last night and had decided to submit it in today’s meeting of the House of Representatives. The committee held 37 meetings over 29 days to finalize the report.

The House of Representatives had formed a high-level special probe committee on July 6, after provisions related to the cooling-off period in the Bill came against that decision by the parliamentary committee that finalized the bill. 

The committee comprised Jeevan Pariyar (coordinator) and Sushila Thing from the Nepali Congress, Narayan Prasad Acharya and Ishwori Gharti from the CPN-UML, Madhav Sapkota from the CPN (Maoist Center), Ganesh Parajuli from the Rastriya Swatantra Party, and Roshan Karki from the Rastriya Prajatantra Party.

The water level in the Babai river has crossed danger-level following continuous rainfall.  

According to the Department of Hydrology and Meteorology, the river's water level has now reached 7.1 meters.  

A water level of 5.5 meters is considered to be at a 'warning' level while 6.8 meter as 'danger' level, the Department has said while urging all to adopt precaution as Bardiya and Dang are at risk of flooding. 

Flood expert of the Department, Binod Parajuli, said district administrations, local levels and general people have been alerted through a message to remain alert. 

Similarly, the Mahakali river has also reached near the danger-level. 

The water level at small streams in Kavrepalanchowk, Makawanpur, Dang, Banke, Chitwan, Kailali, Kanchanpur and surrounding districts are also likely to increase and there is high risk of flash floods, stated the Department. 

South Korea will prepare measures to help companies cope with higher U.S. tariffs and expand into new markets, the Finance Ministry said on Tuesday, as it kicked off a task force to prepare the new administration's economic policy plans, Reuters reported.

On the domestic front, the government will come up with measures to boost short-term demand, as well as financial support for mid- to long-term technology development to enhance market competitiveness, it said in a statement.

South Korea reached a trade deal with the U.S. last week, just days before President Donald Trump's threatened 25% tariff rate was due to come in on its exports to the United States, according to Reuters.