The Maldhunga-Beni road, part of the Kaligandaki corridor highway, has been closed for 13 days to allow for black-topping. This closure affects the five-kilometer Maldhunga-Pharse section of the 13-kilometer road. 

After an all-party meeting at the District Administration Office, the decision was made to close the route. This closure does not apply to ambulances or other essential service vehicles.

The Project Office aims to complete the work in favorable weather conditions in 13 days. Drivers are advised to use alternative routes during this time.

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Today the price of pure gold has dropped significantly, by Rs. 4,000 per tola. Fine gold is currently priced at Rs. 1,41,000 per tola, after dropping the price from Rs. 1,45,000 per tola, according to the Federation of Nepal Gold and Silver Dealers’ Association (FENEGOSIDA).

Gold and Silver Prices Drop: The Latest Price Updates on Fine Gold, Tejabi Gold, and Silver in Nepal

Similarly, Tejabi gold prices have fallen to Rs. 1,40,300 per tola, marking a Rs. 4,000 reduction from the previous day’s Rs. 1,44,300 per tola. This decline occurred after fine gold reached an all-time high of Rs. 1,45,000 per tola on June 7, 2024.

The price of silver has also dropped by Rs. 75 per tola, making it Rs. 1,825 from Rs. 1,900 previously. These declines reflect trends seen in both domestic and international markets, with global gold prices at $2,292.60 per ounce and silver at $29.13 per ounce.

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Over 1.8 million people could be impacted by this year’s monsoon season, according to the National Disaster Risk Reduction and Management Authority (NDRRMA). Based on the prediction released on Monday, more widespread interruptions will likely occur because of the expected greater rains.

Dr. Disan Bhattarai, an NDRRMA official, said the excessive rains could affect over 1.8 million people across 412,000 households. Of these, 83,000 families are projected to be directly affected, with 18,000 houses potentially requiring rescue and relief activities.

Looking back to the previous year, Dr. Bhattarai said that although the initial projection was for 1.2 million people to be impacted, the real figure was closer to two million. According to the Department of Meteorology and Hydrology, rainfall this year could exceed the average by 35–55 percent.

All authorities engaged have been advised to take the necessary safety measures due to the increased risk. Dr. Bhattarai stated that the Home Ministry’s national action plan for monsoon preparations and response is by these preparation efforts.

Kailash Sirohiya, the Chairman of Kantipur Media Group (KMG), was arrested recently. The Arrest of Kailash Sirohiya has caused a lot of discussions and worries. Let’s take a look you will shortly know the reason behind it.

Who is Kailash Sirohiya?

Kailash Sirohiya is the leader of Kantipur Media Group, a major media company in Nepal. He has faced legal problems but continues to be a significant figure in Nepal’s media industry.

Why Was Kailash Sirohiya Arrested?

Sirohiya was accused of having two citizenship certificates with different ID numbers. A complaint was filed by a person named Indrajit Mahato from Sarlahi district. The complaint claimed that Sirohiya’s citizenship number matched another person’s, suggesting fraud.

Understanding Citizenship Misuse

The main accusation is that Sirohiya has dual citizenship numbers, which is illegal in Nepal. He could face serious legal consequences if proven guilty, including jail time and fines.

Details of the Arrest

Sirohiya was arrested on May 21, 2024. The police arrested him at his office in Kathmandu. The team was led by Senior Superintendent of Police (SSP) Sanuram Bhattarai and Superintendent of Police (SP) Rabindra Regmi.

Sirohiya’s Response upon his arrest?

After his arrest, Sirohiya said that the arrest was not really about the citizenship issue.

He believes it was because KMG reported on frauds involving Home Minister Rabi Lamichhane. Sirohiya thinks the arrest was meant to stop Kantipur Media Group (KMG) from publishing these reports.

Legal Actions

Sirohiya tried to get the Supreme Court to cancel his arrest warrant, but it didn’t work. He is currently being held at the Dhanusha District Police Office, and his case is still being reviewed.

What are the reactions from Journalists and Politicians

The Federation of Nepali Journalists (FNJ) and many politicians have criticized the arrest. They say it is an attack on press freedom. Several political leaders, including former Prime Ministers and members of parliament, have spoken out against the arrest.

Accusations Against the Home Minister

Sirohiya claims that Home Minister Rabi Lamichhane is behind his arrest. KMG has reported on the minister’s involvement in cooperative fraud. Sirohiya believes this arrest is revenge for these reports.

Role of Kantipur Media Group

Kantipur Media Group is known for its investigative journalism. They have a history of reporting on important issues, including fraud and corruption. Recently, they have focused on frauds involving the Home Minister, which might be why Sirohiya was targeted.

History of Media Suppression in Nepal

Nepal has a history of trying to control the media. Sirohiya’s arrest is seen by many as another attempt to silence critical journalism. Similar actions have been taken against other media houses and journalists.

Impact on Press Freedom

A free press is crucial for democracy. Arresting journalists can harm press freedom and democracy. This arrest has raised concerns about the future of free journalism in Nepal. It is important to protect the press to ensure that the public remains informed and the government is held accountable.

Public Opinion and Social Media

Many people have expressed their anger about the arrest on social media. Social media has played a significant role in gathering support for Sirohiya and KMG. Public opinion seems to be largely against the arrest, viewing it as an attack on free speech and journalism.

Future of the Case

The case against Sirohiya is ongoing. The outcome will affect not just him but also the future of media freedom in Nepal. If Sirohiya is found guilty, it could set a dangerous precedent for other journalists and media houses.

The arrest of Kailash Sirohiya highlights the tension between the government and the press in Nepal. It is important to protect press freedom to ensure democracy remains strong. The public, journalists, and politicians must work together to defend the rights of the media.

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FAQs

Why was Kailash Sirohiya arrested?

Kailash Sirohiya was arrested for allegedly misusing citizenship certificates by having two certificates with different numbers which is illegal in Nepal.

What did Sirohiya say about his arrest?

Sirohiya claims the arrest is political revenge for KMG’s reports on fraud involving Home Minister Rabi Lamichhane.

How did people react to the arrest?

Journalists and politicians criticized the arrest, calling it an attack on press freedom. The public also showed strong support for Sirohiya on social media.

What could happen next in Sirohiya’s case?

The case is still in court. The outcome will significantly affect media freedom in Nepal, potentially setting a precedent for other journalists.

Nepal should be on top of your bucket list because it is not only an affordable destination but, also offers amazing views that include mountains, hills, lakes, rivers, trails, historical places, and many more. Nepal can offer a variety of climates in the same season and cultural diversity in the different regions which make Nepal unique and more beautiful.

You get to experience so much at a very low price. Nepal has many world heritage sites that you can visit. If you are an avid adventurer then, Nepal has you covered. You can go rafting, climb the highest peak in the world, or go on a retreat.

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This article will give you an insight into What is it like to live as a foreigner in Nepal. There are so many reasons why you should come visit but there are some things you need to be aware of when you’re here.

Affordable cost of living

If you’re a foreigner, especially from the West, you will find that the cost of living is fairly cheap. This does depend on where and how you live. Staying at a nice place and eating out in high-end restaurants will be a little expensive but, not the same level of expensive you’d experience back home. But there are so many options for cheap and filling food in Nepal, so introduce your palette to new cuisine. Additionally, there are high tax rates in Nepal on imported and luxury items such as cars, motorcycles, and various other goods.

Hospitable people

Nepalese people are very hospital. They are very welcoming and are more than glad to share their culture with you. People are kinder and more hospitable the more you leave the city areas. People here believe in ‘Atithi Devo Bhava’ which translates to guests are our God. This may be because they understand the impact of tourism or simply because they are brought up that way.

Rich culture

Nepal is a diverse country and very rich in culture. There are 125 different ethnic communities in Nepal. You will get to experience so much, learn about new traditions, and taste different cuisines here. 

Some parts of Nepal do not have access to the necessities of living but, they are rich in culture and tradition. You can visit them instead of the urban areas, it can be very memorable and interesting to see how people have different ways of living. Seeing their rich culture will be a breath of fresh air.

Health problems because of bad sanitation.

Water distribution is also not regular in Nepal. Nepal is rich in water resources but, unfortunately, not all sources are for human consumption. This is become of unplanned and improper disposal of wastes. It is getting better in the urban areas but, sadly people in rural areas still dump waste in the waters. 

You should carry a water purifier and a mask just to be safe but that should be your choice when you have no options left. You should always buy water in jars or bottled water. It’s worth getting health insurance, even if you’re healthy while living in Nepal. As a foreigner, you may encounter health issues due to unfamiliarity with the climate and living conditions in the country.

Irregular electricity

You may want to carry power banks because of improper electricity distribution. The problem of ‘load-shedding’ has gotten better but there are frequent power outages so, have your alternative source of power so you are not in a helpless position.

Racism

Depending on what part of Nepal you visit and what race you are, you may experience blatant racism. Let me break it down for you; if you are white, you will probably have a pleasant experience other than people trying to charge you extra because you are a foreigner. If you are Asian or Black you may not receive or receive limited special treatment and you may even be subjected to name-calling.

Unstable government and politics

Nepal’s government is pretty unstable and as safe as Nepal is for foreigners, it is still dangerous because of the internal conflict in Nepal between politicians. It is particularly scary when riots break out and you could be caught up in it.

Culture shock

They slaughter and sacrifice animals as a part of their culture and in Hindu culture, people burn the dead body of their loved ones as a final auspicious memory. They may seem horrifying to you, but it is their culture, and pointing it out may seem insensitive to them. 

Be respectful of their culture and remove yourself from anything that you find disturbing instead of being vocal about it with the locals.

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Living as a foreigner in Nepal provides a distinct set of challenges and beneficial experiences. From managing cultural differences to reveling in the warmth of Nepali hospitality, the experience promotes personal growth and understanding. What is it like to live as a foreigner in Nepal? It’s a journey in a dynamic cultural tapestry, with each meeting revealing new insights and connections, ultimately enriching one’s life with unique viewpoints and lasting experiences.

Investing is one of the best ways to grow your wealth. SIP or Systematic Investment Plan helps you grow your wealth exponentially with the power of compounding. In SIP, you deposit a certain sum in a mutual fund every month at a certain pre-stated interest rate. 

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What is the formula for SIP?

The formula for SIP is:

FV = P * [{(1 + r)^n – 1} / r] * (1 + r)

What happens if I invest 1000 in SIP for 10 years?

Calculation:

Let’s consider an example of a Systematic Investment Plan (SIP) where $1,000 is invested monthly for 10 years with an assumed annual interest rate of 12 %, compounded monthly.

Given:

P = $1000 (monthly investment)

r = 12%

  = 0.12 (monthly interest rate, expressed as a decimal)

n = 10 years

FV(future value) =?

Now, use the formula for the future value (FV) of the SIP:

FV = P * [{(1 + r)^n – 1} / r] * (1 + r)

Use the SIP Calculator for calculation by putting the desired values.

Explanation part:

To invest in mutual funds through a SIP (Systematic Investment Plan), the first step is to through a SIP registration and open an account with a particular mutual fund. Once registered, you’ll gain access to a systematic approach to investing where a fixed amount is deducted from your bank account at regular intervals and invested in the chosen mutual fund scheme.

Now, let’s explore what happens if you invest $1000 in SIP for 10 years:

Regular Investments:

You can invest a certain amount regularly through SIP at regular intervals, usually once a month. This disciplined approach helps in accumulating wealth over time.

Rupee Cost Averaging:

With SIP, you can average the cost of investment over time by purchasing more units during periods of low price and fewer units during periods of high price. This lessens the effect of market fluctuations on your financial assets.

Power of Compounding:

Over 10 years, the power of compounding starts to take effect. Your initial investment of $1000, combined with the returns generated by the mutual fund, begins to grow exponentially.

Accumulation of Wealth:

Your investment grows dramatically over time when you make regular investments that compound themselves. The longer the investment timeline, the larger the opportunity for capital building.

Potential Returns:

The returns on your investment depend on various factors such as the performance of the mutual fund, market conditions, and the duration of the investment. Historical data suggests that equity mutual funds tend to offer higher returns over the long term compared to other investment options.

Risk Mitigation:

Investing through SIPs reduces the risk associated with market timing. Spreading your investments over time reduces the impact of market changes.

Goal Achievement:

SIP allows you to work towards your financial goals systematically. SIPs can be an effective instrument for wealth growth, retirement planning, and other financial objectives.

Finally, investing $1000 in SIPs for ten years has the potential to result in large wealth creation due to regular investments, rupee cost averaging, compounding power, and market risk reduction. However, it is important to select mutual fund schemes depending on your risk tolerance, investment timeline, and financial goals. Additionally, constant tracking and evaluation of your investment portfolio is required for best success.

How does SIP work?

• Frequent Investments: SIP participants pledge to make set monthly investments of a certain amount of money. Depending on the investor’s ability to make a large or small investment, this could be either.
• Methodical Approach: SIP promotes a methodical and disciplined approach to investing. Regardless of market conditions, investors continually invest a fixed amount rather than attempting to time the market. By doing this, the effects of transient market volatility are lessened.
• Benefits of Compounding: SIP leverages the power of compounding. Your money generates returns when you invest consistently over time, and those returns compound to provide even more returns. In the long run, this compounding effect might result in a large accumulation of wealth. 
• Rupee Cost Averaging: SIP makes use of the rupee cost averaging principle. Your fixed investment purchases more units in a low-market environment and fewer units in a high-market environment. This contributes to lowering your investment’s average cost over time.
• Flexibility: Investors have the freedom to select the amount and the frequency of their investments (monthly, quarterly, etc.). It is available to a broad spectrum of investors due to its flexibility.
• Long-run Wealth Creation: SIP works very well in creating wealth over the long run. Investors can build up a sizeable corpus by making regular investments over a long period. This corpus can be useful for achieving objectives like wealth growth, retirement planning, and financing schooling.
• Diversification: Mutual funds, which are frequently included in SIPs, frequently make investments in a variety of equities and bonds. This diversification lessens the impact of individual asset underperformance and helps spread risk.

What are some other examples of SIP Calculations?

Example 1

Suppose you invest $2,000 at an annual interest rate of 6%, compounded quarterly for 4 years.

Using the formula:

FV=P×((1+i)n−1)i)×(1+i)

where:

• P = $2,000 (principal amount),
• i=0.06 (6% annual interest rate expressed as a decimal),
• n=4 (4 years with quarterly compounding).

Now, plug in the values and calculate:

FV=2000×(1+0.06)4−10.06×(1+0.06)

FV=2000×(1.06)4−10.06×1.06

FV=2000×(1.262476)−10.06×1.06

FV=2000×0.2624760.06×1.06

FV=2000×4.3746×1.06

FV≈9177.18

So, the future value (FV) of the investment after 4 years with quarterly compounding would be approximately $9,177.18.

Example2

Suppose you invest $2,500 at an annual interest rate of 6%, compounded quarterly for 4 years.

Given:

P = $2,500

i=0.06 (6% expressed as a decimal)

n=4 (4 years with quarterly compounding)

Now, plug these values into the formula:

FV=2500×(1+0.06)4−10.06×(1+0.06)

Let’s break it down step by step:

(1+0.06)4=(1.06)4≈1.265319

Now, substitute this back into the expression:

2500×1.265319−10.06×1.06

2500×0.2653190.06×1.06

2500×4.67198×1.06

Finally, multiply the numbers:

FV approx $12,468.69

So, the future value of the $2,500 investment after 4 years with quarterly compounding at a 6% annual interest rate is approximately $12,468.69.

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FAQs

Conclusion

It’s crucial to remember that, even though SIP can be a useful investing approach, investment value might change and earnings are not guaranteed. Based on their financial objectives, risk tolerance, and investment horizon, investors should carefully select the investment funds they use. For individualized investing advice, speaking with a financial professional is advised.