Kathmandu, Nepal – On September 12, 2025, Nepali Army soldiers were seen deploying concertina-barricade wires outside the presidential building, Shital Niwas, as the nation grappled with escalating social unrest. This turmoil has raised significant concerns about Nepal’s economic and fiscal stability, according to a recent report by Fitch Ratings. The rating agency highlighted that while calm has been restored, the recent wave of violence has severely impacted short-term economic growth by disrupting normal business activities and eroding consumer and business confidence. Fitch warned that these developments could exert pressure on Nepal’s credit metrics, potentially affecting its financial standing in the global market. The unrest underscores the fragile balance between social stability and economic progress in the Himalayan nation, with analysts closely monitoring the situation for further developments.
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India stock benchmarks set for muted start after 3-session rally
India’s equity markets are expected to open with minimal changes on Friday, signaling a pause after three consecutive days of gains. The recent rally was fueled by U.S. policy easing and advancements in trade negotiations between New Delhi and Washington. As of 07:52 a.m. IST, Gift Nifty futures were trading at 25,466 points, suggesting the benchmark Nifty 50 (.NSEI) would open close to its 10-week high of 25,423.6 reached on Thursday. Over the past three sessions, the Nifty 50 index climbed 1.4%, while the BSE Sensex (.BSESN) surged 1.5%, driven by U.S. rate cuts and optimism surrounding India-U.S. trade talks. India’s chief economic advisor, V. Anantha Nageswaran, hinted on Thursday that the U.S. might soon eliminate punitive tariffs on Indian imports and reduce reciprocal tariffs to 10%-15% from the current 25%. Foreign portfolio investors (FPIs) also contributed to the market’s upward trajectory, purchasing shares worth 3.67 billion rupees ($41.6 million) on Thursday, marking their fifth buying session in the last eight. In corporate news, Adani group companies are in the spotlight after India’s market regulator dismissed allegations of stock manipulation by U.S. short-seller Hindenburg Research. Additionally, mining firm Vedanta (VDAN.NS) has been named the ‘preferred bidder’ for a manganese block in Andhra Pradesh.
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Exclusive: South Korea’s LG Energy was using US visa workarounds before Trump, documents show
In a revealing turn of events, internal documents from LG Energy Solution have shed light on the company’s strategies to circumvent U.S. visa restrictions, a practice that predates the recent immigration crackdown under the Trump administration. The South Korean battery giant has been advising its employees and subcontractors to utilize the Electronic System for Travel Authorization (ESTA) visa waiver program, bypassing the more stringent B-1 business visa application process, which has seen high rejection rates. This approach, detailed in August 2023 guidelines, was implemented to facilitate short-term assignments in the U.S., particularly for high-tech plant operations. However, the reliance on ESTA has come under scrutiny following the detention of over 300 Korean workers, including 250 LG employees and contractors, in what has been described as the largest immigration raid by the U.S. Department of Homeland Security. The incident, which occurred at LG’s car battery venture with Hyundai Motor near Savannah, Georgia, has sparked significant concern in South Korea, a key U.S. ally and investor. The Trump administration has indicated a willingness to revise visa policies to accommodate South Korean investment, but the widespread use of ESTA waivers highlights the challenges faced by South Korean companies in navigating U.S. immigration enforcement. LG has since updated its guidelines, recommending appropriate visas for longer assignments and advocating for clearer interpretations of visa regulations to ensure smoother business operations.
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Dollar steadies as investors consider post-Fed outlook, focus turns to BOJ meeting
The U.S. dollar remained stable in early Asian trading on Friday as investors awaited new catalysts following the Federal Reserve’s recent rate cut decision. The dollar index edged up by 0.1%, recovering slightly from a three-and-a-half-year low after the Fed reduced rates by 25 basis points but indicated no immediate plans for further cuts. The dollar also gained marginally against the yen, rising 0.1% to 148.085 yen, ahead of the Bank of Japan’s (BOJ) policy decision later in the day. The BOJ is widely expected to maintain interest rates at 0.5%, with market focus on potential hints of future adjustments. The ongoing leadership election within Japan’s Liberal Democratic Party (LDP) is likely to influence the BOJ’s cautious stance, as Governor Kazuo Ueda is expected to avoid signaling any significant policy shifts. Meanwhile, the broader currency market is assessing the long-term impact of the Trump administration’s tariffs and its criticism of the Fed’s rate decisions. The U.S. Supreme Court has set a date to hear arguments on the legality of Trump’s global tariffs, a key element of his economic agenda. Additionally, the Trump administration has sought unprecedented authority to dismiss Federal Reserve Governor Lisa Cook, raising concerns about the central bank’s independence. Foreign demand for U.S. Treasuries remains strong, with overseas holdings reaching a record high in July. The euro and sterling both weakened slightly, while the kiwi and Australian dollar continued to decline following disappointing economic data.
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Police find remains they think are US man accused of killing his daughters
In a grim development in a high-profile case, human remains presumed to be those of Travis Decker, a man accused of murdering his three young daughters, have been discovered in a remote wooded area near Leavenworth, Washington. The Chelan County Sheriff’s Office announced on Thursday that preliminary findings suggest the remains belong to Decker, though official identification is still pending. Decker, a 32-year-old former soldier, had been on the run since June 2, when the bodies of his daughters—Paityn, Evelyn, and Olivia, aged nine, eight, and five—were found in a secluded campground. His truck and phone were also located nearby. Authorities believe Decker, who was wanted on kidnapping and first-degree murder charges, had been hiding in the rugged, forested terrain of Washington state. The girls’ mother reported them missing on May 30 after Decker failed to return them to her home in Wenatchee following a visit. Investigators revealed that the children died from apparent suffocation, with their wrists bound by zip ties. Decker’s military background, including possible mountain survival training, may have aided his evasion efforts. The remains were found on Grindstone Mountain, just miles from the site where his daughters’ bodies were discovered. A $20,000 reward had been offered for information leading to his capture, and the extensive search led to closures of popular hiking areas in national forests. The case has shocked the community and raised questions about public safety and the challenges of tracking fugitives in remote regions.
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Santos always prepared to consider any takeover offers, CEO says
In a recent statement, Kevin Gallagher, CEO of Santos Ltd, expressed openness to potential takeover offers for the Australian gas producer. Gallagher emphasized his commitment to remaining in his role as long as he retains the confidence of shareholders and the board. This announcement follows the collapse of an $18.7 billion acquisition bid by a consortium led by Abu Dhabi National Oil Company (ADNOC) on Wednesday. The deal fell through due to disagreements over commercial terms, particularly concerning capital gains tax liabilities on Santos’ assets in Papua New Guinea, which were revealed to be imminent. A source close to the matter indicated that XRG, ADNOC’s overseas unit, hesitated to proceed under these financial conditions. The news highlights the ongoing strategic considerations within Santos as it navigates the complex energy market.
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British couple held for months by Taliban released from prison
An elderly British couple, Peter Reynolds, 80, and his wife Barbie, 76, who had been detained by the Taliban in Afghanistan for nearly eight months, have finally been released. The couple, who had lived in Afghanistan for almost two decades, were apprehended on February 1 while traveling home. Their release was secured through Qatari mediation, according to an official familiar with the case. During the final stages of negotiations, the couple was transferred from Kabul’s central prison to a larger facility. A Qatari official confirmed that the couple will first travel to Qatar for medical evaluations before returning to the UK, despite their long-term residence in Afghanistan’s Bamiyan province. The release comes after months of relentless public advocacy by their family. Just six days prior to their release, Faye Hall, an American woman who had been detained with them but was released two months into her captivity, shared with the BBC that the couple’s health had severely deteriorated in prison, stating they were ‘literally dying’ and that ‘time is running out.’
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New York Democratic politicians arrested at ICE jail in Manhattan
On September 18, 2025, New York City Comptroller Brad Lander and a group of state and local officials were arrested during a protest at 26 Federal Plaza in Manhattan, where U.S. Immigration and Customs Enforcement (ICE) operates detention facilities. The officials sought to inspect the conditions of the 10th-floor holding cells, which a federal judge had recently condemned as inhumane. The protest was organized to ensure compliance with a court order mandating improvements to the facility. Despite their efforts, the group was denied entry and subsequently detained by NYPD and federal agents. The incident marked the latest clash between federal authorities and Democratic politicians critical of the Trump administration’s immigration policies. Earlier in the year, Lander had been arrested in the same building while assisting an individual targeted by ICE. The protest also included a separate demonstration led by New York City Public Advocate Jumaane Williams, where dozens of activists blocked the building’s garage entrance, chanting in support of immigrants. Organizers reported that over 75 people were detained across both gatherings. A federal court order issued the previous day had detailed appalling conditions in the detention facility, including overcrowding, unsanitary environments, and a lack of basic hygiene supplies. ICE’s parent agency, the Department of Homeland Security, stated that the detainees included individuals facing deportation for criminal convictions. The building was later placed under lockdown due to a bomb threat. No charges were reported to have been filed against those arrested.
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Oil little changed as demand concerns overshadow US rate cut buoyancy
Oil prices remained largely unchanged on Friday, following a decline in the previous session, as concerns over fuel demand in the United States persisted. Brent crude futures dipped slightly by 1 cent to $67.43 a barrel, while U.S. West Texas Intermediate (WTI) futures dropped 4 cents to $63.53. Despite these minor fluctuations, both benchmarks were poised to record a second consecutive weekly gain. The U.S. Federal Reserve’s decision to cut interest rates by a quarter of a percentage point on Wednesday, coupled with signals of further reductions, initially raised hopes for increased oil demand. However, a surprising 4-million-barrel rise in U.S. distillate stockpiles, far exceeding market expectations, reignited fears of weakening demand in the world’s largest oil consumer. IG analyst Tony Sycamore noted that gains in the U.S. dollar and long-end yields further undermined crude oil’s support. Economic data added to the unease, with jobless claims indicating a softening labor market and single-family home building hitting a near 2.5-year low in August. Meanwhile, Russia, the world’s second-largest crude producer, introduced new measures to protect its state budget from oil price volatility and Western sanctions, alleviating some supply concerns. ANZ analyst Daniel Hynes highlighted that President Trump’s preference for low oil prices over sanctions on Russia also eased fears of supply disruptions.
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Zijin Gold launches $3.2 billion Hong Kong IPO, city’s largest in 2025
Zijin Gold International, a subsidiary of China’s Zijin Mining, is set to launch a landmark initial public offering (IPO) in Hong Kong, aiming to raise HK$24.98 billion ($3.21 billion). This marks the largest IPO in the city this year, according to the company’s prospectus released on Friday. The offering involves the sale of 349 million shares at HK$71.59 each, with trading scheduled to begin on September 29. The IPO will value Zijin Gold at $24.1 billion. The move comes amid a strong performance in the gold market, which has surged nearly 39% this year, benefiting from low-interest rates and global uncertainty. Zijin Gold’s IPO surpasses the recent $1.2 billion offering by Chinese automaker Chery, solidifying its position as the largest in Hong Kong for 2025. The company plans to use the proceeds over the next five years to upgrade and construct existing mines, enhancing its production capabilities. Cornerstone investors, including Singapore’s GIC and private equity firm Hillhouse, have already committed $1.6 billion to the offering. Asset managers BlackRock and Schroders are also participating, each purchasing $120 million worth of shares. Morgan Stanley and CITIC Securities are acting as joint sponsors for the IPO. The spin-off and independent listing of Zijin Gold International are expected to broaden the company’s financing channels and improve overall efficiency.