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The Ministry of Culture, Tourism and Civil Aviation has demanded the Finance Ministry to ensure financial resources for the expansion of three airports in Karnali and Lumbini Provinces.

The Ministry has demanded Rs 11 billion to expand the airports of Surkhet and Jumla in Karnali Province and the Tarigaon airport, Dang in Lumbini Province.

Section officer at Tourism Ministry, Prakash Pokharel, informed that the Finance Ministry was proposed to ensure the financial resource for airport expansion.

Earlier, the Civil Aviation Authority of Nepal had recommended the government that it acquired lands for augmenting the airport capacity.

With this, the Council of Ministers on Monday decided to guarantee the financial resources.

Although Rs 5 billion was estimated to acquire lands for expanding the Tarigaon airport of Dang, the Finance Ministry is demanded allocation of Rs 10 million and the guarantee of the resource of Rs 990.

Similarly, the Finance Ministry has been asked to allocate Rs 100 million and guarantee the resource of Rs 4.90 billion for acquiring land and expanding the Surkhet airport.

Rs 1 billion has been estimated for buying land and expanding the facility at Jumla airport, while allocation of Rs 100 million and resource of Rs 400 is urged.

The Karnali Province government led by then chief minister Mahendra Bahadur Shahi had forwarded an ambitious plan to operate province government's own air service.

However, the province government's plan to domestic and inter-province air service named 'Karnali Airlines' is in limbo.

The Shahi-led government had further announced the construction of 'high altitude' airport in Mugu and an airport of an international standard in Surkhet.

Even a Chinese company 'North West' had submitted a feasibility study to the province government for free of cost.

Currently, Kathmandu-Surkhet-Kathmandu has four flights in a day. Number of flights to upper Karnali has radically declined.

In 2077BS, the province government had mooted a plan to even conduct the night flights from Surkhet airport by expanding its runway up to 1,500 meter.

The government has expedited preparations for ‘Sagarmatha Sambaad’, a global dialogue to be organized on May 16-18 to draw the international community’s attention to the adverse impact of climate change on Nepal’s Himalayas. 

It plans to invite global leaders, including Indian Prime Minister Narendra Modi and high-level Chinese officials, for the multi-stakeholder dialogue forum themed ‘Climate Change, Mountains and the Future of Humanity’.    

Held on Sunday, the first meeting of a management committee, formed for the preparation of the ‘Sambaad’, decided to invite heads of state and government of mountainous and coastal countries, experts working in the climate research sector, representatives of national and international private sectors and influential figures. 

The committee formed under Foreign Minister Arzu Rana Deuba has prepared the format for the arrangement of infrastructures and programs for ‘Sagarmatha Sambad’, said contact person of the Sambad and Joint-secretary of the Ministry of Forests and Environment, Maheshwor Dhakal.    

The committee has also decided to form an expert committee comprising 16 experts representing different sectors as well as a publicity and coordination committee under the joint-secretary of the Foreign Ministry. The meeting also decided to request partner organizations for demonstration of good practices to mitigate the impacts of climate change.    

According to Dhakal, preparatory dialogue on climate change issues facing women and children will be held at the province level. The Ministry of Forest and Environment,  and the Office of the Prime Minister and the Council of Ministers will assign the employees required for the ‘Sagarmatha Sambad’ and Sagarmatha Sambad Secretariat will also be made active for the success of the global dialogue.    

Minister for Forests and Environment Ain Bahadur Shahi Thakuri is the co-coordinator and Forest Secretary is the member-secretary of the committee that has Chief Secretary, officials of the Office of the Prime Minister and the Council of Ministers, Foreign Ministry, Finance Ministry, Home Ministry, National Planning Commission, Ministry of Culture, Tourism and Civil Aviation, Ministry of Energy, Water Resources and Irrigation, Alternative Energy Promotion Center and National Trust for Nature Conservation as members.    

The previous meeting of the Preparations Committee was held on Feb 9 in the presence of Prime Minister KP Sharma Oli. Inviting heads of state or heads of government from neighbouring India, China and representatives from South Asian countries was the agenda of the meeting.    

Though the event was planned during the second premiership of Oli, it was postponed in the 11th hour owing to the Covid-19 pandemic. Secretary of the Ministry of Forest and Environment, Deepak Kumar Kharal, stated that the event aims to amplify Nepal’s voice on climate change, drawing international attention to the country’s high vulnerability despite its minimal contribution to global greenhouse gas emissions.  

Through the dialogue, Nepal will advocate for compensation for the losses it faces due to the climate crisis and for payment for its environmental services. Despite the Paris Agreement’s goal to limit the global temperature rise to 1.5°C, projections indicate that the global temperature is expected to exceed by 1.8°C before 2050. Several research studies suggest that this temperature rise could lead to the loss  of two-thirds of the snow cover in the mountains.    

The Ministry of Culture, Tourism and Civil Aviation has allocated Rs 10 million for the Tarigaun Airport in Tulsipur, Dang.

Tulsipur Sub-Metropolitan City's Deputy Mayor Syani Chaudhary said the Ministry has written to the Ministry of Finance to ensure an additional budget of Rs 990 million.

Established in 2011 BS, the airport is unable to land even large aircraft.

At present, the airport is 750 meters long. If it can be increased to 1,500 meters, a 72-seater aircraft can land.

Now only 19-seater aircraft can land at the airport.

Chaudhary said that preparations have been made to initiate the work. saying the small aircrafts have not been able to reap benefits.

Prime Minister KP Sharma Oli had visited the airport a few days ago.

The participants, shareholders and employees of the Citizen Investment Trust (CIT) are entitled to get 10 percent discount in the 'Paying Clinic, Silver, Golden and Platinum Corporate Cardiac Package' of Shahid Gangalal National Heart Center.

The agreement was signed by Executive Director Parbat Kumar Karki on behalf of the CIT and Executive Director Dr Rabi Malla on behalf of the Center on Sunday.

With the agreement in place, members, participants, shareholders and employees of the CIT will now get the discount.

For the discount, it has been made mandatory to submit the CIT identity card or participant identity card.

Home Minister Ramesh Lekhak has called on parties agitating against the cable car construction project in Pathibhara of Taplejung for talks.

In his replies to lawmakers' concern in a session of the National Assembly (NA) today, the Home Minister said the government is effortful to find a solution to the disputes over the cable car construction through negotiations.

"The government wants to resolve the matter peacefully and for the same, a talks team was formed on February 2 under the convenroship of the Home Ministry's joint-secretary. The team is in touch with the protesting sides," he said, adding that the two sides have already hold meetings time and again.

The agitating sides were called for the talks again on February 24 following some hurdlers in the advancement of the talks lately.

He claimed the Ministry is committed to addressing social, religious and cultural concerns of the locals regarding the cable car construction.

He apprised the House that the Council of Ministers on December 31, 2018 (Push 16, 2075 BS) had allowed to clear vegetations along the forest area to be used for the cable car construction.

The preparations for the project implementation had begun earlier.

It was decided at the deputy prime ministerial and home ministerial level on Magh 2 2080 BS (January 16 , 2024) to make security arrangements in cooperation with the Nepal Police in view of establishing a security management camp of the Armed Police Force at the button station for the time being for the security purpose of the project.

For the same reason, the APF and Nepal Police were mobilised in the area, according to him.

The members in the thematic committees under the National Assembly (NA) have been reshuffled.

NA Chairperson Narayan Prasad Dahal announced the changes in today's meeting of the Upper House of the Federal Parliament.

NA Member Krishna Bahadur Rokaya of the Federal Strengthening and National Concerns Committee has been transferred to the Legislation Management Committee.

Similarly, Narayan Dutta Mishra of the Legislation Management Committee has been moved to the Federal Strengthening and National Concern Committee.

The proposal seeking reshuffle of the members was unanimously agreed upon by the NA meeting, it was shared. 

British Prime Minister Keir Starmer will try to revive hope for peace in Ukraine at a meeting with Volodymyr Zelenskiy and other Western leaders on Sunday, two days after the Ukrainian leader and U.S. President Donald Trump clashed in Washington.

After a heated row with Trump, who threatened to stop support for Ukraine after accusing Zelenskiy of being ungrateful for U.S. aid, the Ukrainian leader flew to London on Saturday to be greeted on Downing Street with a long, warm hug from Starmer.

Zelenskiy will receive a pledge of support from Starmer and other European leaders, who face the stark question of whether they can take over the lead in providing Kyiv with weapons and finance before any peace talks begin.

Lacking the weaponry and depth of ammunition stocks of the United States, European leaders have so far offered expressions of support after the Zelenskiy row, with Germany calling for the release of 3 billion euros ($3.1 billion) for Ukraine.

On Sunday, Starmer will hope they will offer more concrete means to support Ukraine and try to revive a possible peace deal with Russia by convincing Trump Europe can step up to defend itself. Some leaders might also encourage Zelenskiy to go back into talks with the U.S. leader.

"Three years on from Russia's brutal invasion of Ukraine, we are at a turning point," Starmer said in a statement, offering his "unwavering support for Ukraine" by doubling down on providing capacity, training and aid to Kyiv.

"In partnership with our allies, we must intensify our preparations for the European element of security guarantees alongside continued discussions with the United States."

At a meeting that has taken on added significance, Starmer will start Sunday by holding talks with Italian Prime Minister Giorgia Meloni after welcoming Zelenskiy on Saturday with a clear message of support for a visibly shaken leader.

They will then be joined by French President Emmanuel Macron, the EU's Ursula von der Leyen, NATO Secretary General Mark Rutte and leaders from Germany, Denmark, Netherlands, Norway, Poland, Spain, Canada, Finland, Sweden, the Czech Republic and Romania. Turkey's foreign minister will also attend.

BAD END TO GOOD WEEK

Zelenskiy's row with Trump on Friday ended a week when Europe had appeared to be in a better position in its drive to encourage Trump to continue to offer support to Ukraine after cordial visits to Washington by Macron and Starmer.

Both had pressed the U.S. leader to offer what is known as "a backstop" to a potential European peacekeeping force in the event of a deal between Kyiv and Moscow. While they had failed to secure a promise from Trump, he had not totally rejected the idea.

But the rest of Europe is a long way from falling in behind the French and British leaders' plans to safeguard a peace deal, and Starmer will hope to take on a leadership role by suggesting Britain become a bridge between Europe and the United States.

Sunday's meeting is a boost for Starmer, whose team felt his meeting with Trump last week had gone better than expected with Trump praising the British leader and even suggesting Ukraine could regain some lost territory in peace talks.

Friday's disastrous meeting poisoned that mood, and Sunday's summit and an extraordinary EU one in Brussels next week will prove crucial to establishing whether European leaders can offer Ukraine something concrete and repair the damage done.

Italian Prime Minister Giorgia Meloni has also called for an emergency summit involving the United States, European nations and allies to discuss how "to deal with the great challenges of today, starting with Ukraine".

On Sunday, European leaders are expected again to press for peace talks to include Ukraine, to strengthen Kyiv's position and to secure the necessary security guarantees to ensure a long-lasting peace and to deter any future Russian attack.

That would mean persuading Washington to offer a back stop, possibly in the form of air cover, intelligence and surveillance and a greater as yet unspecified threat if Putin again sought to take more territory.

Starmer will update other leaders on his meeting with Trump, when the U.S. president praised his efforts to increase defence spending and offer to deploy peacekeeping troops.

For now, Starmer wants to lower the temperature after the row in Trump's Oval Office.

Some leaders will also urge Zelenskiy to try to rebuild bridges with Trump. NATO's Rutte and Polish President Andrzej Duda have urged the Ukrainian leader to find a way to restore the relationship.

Nils Schmid, foreign policy spokesperson for Chancellor Olaf Scholz's Social Democrats, told Reuters on Saturday that Europe needed to maintain its contacts with Trump.

"Generally speaking, we don't know where Trump will stand on all these issues in three or six months' time," he said. Reuters

Ukrainian President Volodymyr Zelenskiy is leaving the White House early on Friday after a contentious Oval Office meeting with President Donald Trump, a White House official said.

Zelenskiy is "not ready for Peace if America is involved," U.S. President Donald Trump said in a post on Truth Social on Friday, following a contentious meeting between the leaders in the Oval Office.

"I have determined that President Zelenskyy is not ready for Peace if America is involved, because he feels our involvement gives him a big advantage in negotiations. I don't want advantage, I want PEACE. He disrespected the United States of America in its cherished Oval Office. He can come back when he is ready for Peace,” Trump said.

JOSÉ TORRES, SENIOR ECONOMIST, INTERACTIVE BROKERS, GREENWICH, CONNECTICUT

“Twice today we saw traders come in and defend the pivotal 5840 level on the S&P, a figure that corresponds to a 5% drawdown from the peak. The first time was after monthly consumer spending posted its sharpest month-over-month decline in four years, then the index bounced back. The heated exchange between Trump and Zelenskiy took it down even further, to about 5837, at which point traders stepped in. People are seeing any broad-based drawdown as a reason to come in and buy the dips. Also, right now, the bar is pretty high when it comes to trying to startle markets. We’ve had wild swings on a number of fronts, including geopolitical incidents like this one. So folks are braced for these intraday swings. Ultimately, the market is hoping for peace between Ukraine and Russia, but how that gets done will be pivotal. Anything too one-sided favoring Moscow would be a market negative."

CAROL SCHLEIF, CHIEF MARKET STRATEGIST, BMO PRIVATE WEALTH, MINNEAPOLIS, MINNESOTA

“Markets will continue to be more focused on tariff policy – how much, who, when – and what it implies for business activity and consumers spending and confidence. Most U.S. investors (and voters) pay attention to what hits the pocket book closer to home and Russia/Ukraine has been just one of many global considerations on the edges for a very long time."

“On the other hand, European markets could be more impacted given it would seem increasingly clear that Ukraine’s defense and/or dealing with Russia will be left to them”

ADAM SARHAN, CHIEF EXECUTIVE, 50 PARK INVESTMENTS, NEW YORK

"The market initially sold off because it was a heated and contentious conversation, which is not usually a good thing between two leaders of the world, especially when it has to do with a war. The news, if you watched it live, it was pretty worrisome. It got heated, and Zelenskiy is considered an ally of the U.S... That's why the market sold off, but then cooler heads prevailed. Zelenskiy either is going to make a deal or he's not, and Trump is offering him a deal. He could walk out and they could have a deal next week. But does this mean the market is going to get crushed? No. Nothing has really changed... But the market is under a lot of pressure. All of the post-election gains have been erased. That’s a big sign. And the growth stocks that were leading the market higher over the last several months have now turned lower, and there's a big concern as we go into the weekend that there's going to be the tariffs coming back for Canada and Mexico."

MARSHALL FRONT, SENIOR MANAGING DIRECTOR, FRONT BARNETT, A MERISOW COMPANY, IN CHICAGO

“As an investor you have to wait and see what the outcome is , rather jump to some conclusion. Trump desperately wants to get something done, Zelenskiy wants to get something done, and Putin does too. The question is, where will that settle? We don’t know. The reaction in the market was predictable, when people started to see this show, market sold off. Now that Zelenskiy has left the WH it’s settled."

"On Trump’s pivot on Ukraine policy: “It’s created a lot of uncertainty, on this issue. And uncertainty is something markets abhor. They (Investors) are trying to see, without a lot of information, where things are going."

SPENCER HAKIMIAN, CEO, TOLOU CAPITAL MANAGEMENT, NEW YORK

"This is terrible and very risk off, but it’s very bullish for European defense manufacturers, as they’ll need to arm themselves via domestic producers. We bought those stocks in January for the first time ever."

RICK MECKLER, PARTNER, CHERRY LANE INVESTMENTS, NEW VERNON, NEW JERSEY

"I don't think it hurt the market so much because of what he had to say, but the unconventional nature of it raised the issue for investors of how unpredictable and uncertain the Trump administration can be. The market likes certainty. It likes a plan. There are so many things happening in this government at once - all of which are to some extent groundbreaking - and this just added one more feature to it. So that's where the market (took a) leg down a little bit, thinking this is just a sign of a lack of predictability and more traditional approaches to diplomacy."

DAVID WAGNER, HEAD OF EQUITIES AT APTUS CAPITAL ADVISORS IN FAIRHOPE, ALABAMA

“The S&P 500 is starting to see its first pullback of 2025. On the surface, the S&P is -5% off the highs, but there’s been dramatic moves underneath the hood of the index. The point here is: much of the motion looks driven by “positioning unwinds” versus “fundamental distress”. And looking at this past quarter's earnings season helps us validate that thought, as the spread between the Mag 7 and remaining 493 earnings saw its most narrow gap since Q1 2023.

"But, now that earnings season is essentially over now that NVDA is behind us, I'd expect a lot of policy out of Washington DC to dictate some near term volatility in the market. “

JACK MCINTYRE, PORTFOLIO MANAGER, BRANDYWINE GLOBAL, PHILADELPHIA

"It’s disturbing, but maybe this is part of Trump’s way of negotiating … A big driving force of markets now is uncertainty on a lot of different levels, and this is just another part of that. It looked like we were moving towards progress on a peace deal or a ceasefire between Russia and Ukraine and maybe now that gets to come on hold, so you have to price in a little bit more uncertainty. We’re not doing anything, we’re going to let the dust settle." REUTERS