Nepal\u2019s interim PM, Sushila Karki, has a herculean task to accomplish, the most urgent being to mend deep divisions in the society, primarily political. India-EU trade talks have reached a decisive stage, but agriculture, dairy and the Carbon Border Adjustment Mechanism (CBAM) remain some of the contentious areas. US President Donald Trump says he is \u201cvery unhappy\u201d about Israel\u2019s targeting of Qatar, which disrupts negotiations for a ceasefire in Gaza \u2013 here is the weekly roundup of key global news.<\/p>\n
Nepal on Friday installed former Supreme Court Chief Justice Sushila Karki, 73, as the interim Prime Minister, days after protests over corruption and social media ban racked the Himalayan nation. Karki is the first woman to head the country\u2019s government.<\/p>\n
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President Ram Chandra Poudel also dissolved Parliament and asked the interim government to hold elections within six months. Nepal had its last legislative elections in 2022.\u00a0<\/p>\n
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Calling Nepal \u201ca close neighbour, a fellow democracy and a long term development partner<\/a>\u201d, India welcomed the formation of the interim government and reaffirmed that it will continue to work closely with Kathmandu for the well-being and prosperity of both nations and their peoples.\u00a0<\/p>\n The protests, led by \u201cGen Z\u201d, began on Monday (September 8) in response to a government ban on social media. The ban ignited fears that speech could be curtailed for Nepal\u2019s 30 million people and cut off some two million Nepali workers, a major source of remittances, abroad from their families. Nepal\u2019s economy is heavily reliant on remittances, which amount to over 33 per cent of Nepal\u2019s Gross Domestic Product.<\/p>\n Although it was the social media ban that lit the fuse, the protests expanded rapidly into a larger campaign against corruption, inequality and unemployment, prompting Prime Minister Khadga Prasad Oli to resign on Tuesday.\u00a0<\/p>\n The demonstrations soon turned violent, with police opening fire and protesters torching Parliament, the Supreme Court, political residences, and media offices. The violence left at least 51 people dead.\u00a0<\/p>\n Story continues below this ad<\/p>\n Karki, known for her stance on corruption and women\u2019s rights, said she accepted to lead the interim government at the request of \u201cyoung boys and girls\u201d. She, however, has a herculean task to accomplish, the most important among them being to mend deep divisions in the society, primarily political, alongside ethnic, class and regional divides.<\/p>\n Notably, major political parties, including the Maoist Centre led by Pushpa Kamal Dahal \u2018Prachanda\u2019, Nepali Congress under Sher Bahadur Deuba and the CPN (UML) of Oli, stayed away from the swearing-in ceremony of Karki, signalling their opposition to President Paudel\u2019s decision.<\/p>\n Nepal\u2019s political instability can be traced back to at least the 1990s when Maoist insurgency sprang up aimed at toppling the monarchy. The century-old monarchy was formally abolished in 2008, and a new Constitution was promulgated in 2015, declaring Nepal a secular, federal democratic republic. However, since the 1990s, the Himalayan nation has seen 13 heads of government across 30 separate tenures.\u00a0<\/p>\n India-EU trade talks at crucial stage<\/b><\/p>\n While uncertainties over the US tariffs linger on, India and the European Union (EU) are engaged in \u201cintensive\u201d negotiations to finalise a Free Trade Agreement (FTA) by the end of this year.\u00a0\u00a0\u00a0<\/p>\n Story continues below this ad<\/p>\n European Commissioner for Trade, Maros \u0160ef\u010dovi\u010d, said on Friday (September 12) that as major democracies, there are many areas where India and the EU can work together. He added that his goal is to ensure that the FTA facilitates two-way trade flows between India and the EU.<\/p>\n The 27-member bloc is India\u2019s largest trading partner, with bilateral trade in goods standing at $137.41 billion in 2023-24. In the past decade, trade between the two economies has grown by around 90 per cent.\u00a0\u00a0<\/p>\n India and the EU are currently working through at least 26 chapters of the agreement, of which 11 have been finalised. \u0160ef\u010dovi\u010d underlined that the automotive sector, which powers the economies of both India and the EU<\/a>, should be at the centre of the partnership.\u00a0<\/p>\n He added that by combining the power of our automotive markets \u2013 the world\u2019s third and fourth largest \u2013 both countries can lead the charge in developing cutting-edge combustion engines as well as electric vehicles with advanced battery technologies and smart mobility solutions.<\/p>\n Story continues below this ad<\/p>\n However, agriculture, dairy and the Carbon Border Adjustment Mechanism (CBAM) are some of the contentious areas. CBAM imposes a tariff on imports linked to \u201ccarbon emissions\u201d and will come into effect from January 1, 2026, potentially affecting a range of sectors like steel, cement, and automobiles.<\/p>\n The EU has refused to make CBAM part of the trade negotiations, insisting it is central to its broader climate goals. But in its recent trade deal with the US, the EU demonstrated flexibility on CBAM, raising hope that similar concessions may be possible for India.<\/p>\n This week also witnessed a thaw in India-US ties, with US ambassador-designate to India Sergio Gor saying on Thursday (September 11) that President Donald Trump<\/a> has invited India\u2019s commerce and trade ministers next week, and that the specifics of the bilateral trade deal will get resolved in the \u201cnext few weeks\u201d.<\/p>\n While the US tariffs hurt Indian exporters, it has negative impacts on American shoppers<\/a> too as everyday essentials in the US are getting more expensive.\u00a0<\/p>\n Story continues below this ad<\/p>\n The US has imposed a 50 per cent tariff on India \u2013 25 per cent reciprocal tariff and another 25 per cent for buying oil from Russia. At the same time, Trump has reportedly asked the EU and the G-7 members to impose more tariffs on purchasers of Russian oil.<\/p>\n A US Treasury spokesperson called on G7 and European Union allies to impose \u201cmeaningful tariffs\u201d on goods from China and India to pressure them to halt their purchases of Russian oil, Reuters reported.<\/p>\n Nonetheless, Prime Minister Narendra Modi<\/a> responded to Trump\u2019s overtures by reiterating that India and the US were \u201cclose friends\u201d, and teams on both sides were \u201cworking to conclude these (trade) discussions at the earliest.\u201d\u00a0<\/p>\n Israel\u2019s reckless offensives<\/b><\/p>\n Intensifying its attack on Gaza City, Israel attacked shelters and aid seekers in which more than 30 Palestinians were killed on Saturday. Israel has ramped up its offensive in recent weeks on the largest Palestinian city, which it says is Hamas\u2019s last stronghold, and has ordered Palestinians to evacuate.\u00a0<\/p>\n Story continues below this ad<\/p>\n Israel even targeted Hamas\u2019s negotiating team inside Qatar, where they had convened to discuss the latest US ceasefire proposal. The attack, in which five Hamas members and a member of Qatar\u2019s internal security were killed but Hamas\u2019s leadership survived, drew global criticism, with Doha describing the unprecedented violation of its sovereignty as \u201cstate terrorism\u201d.<\/p>\n Qatar has \u201creserved its right to respond\u201d<\/a> to Israel\u2019s attacks, while Saudi Arabia has pledged to place \u201call capabilities\u201d at Qatar\u2019s disposal to respond to the \u201cbrutal Israeli aggression\u201d.<\/p>\n On Friday (September 12), Qatar\u2019s Prime Minister Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani met US President Trump in New York in the wake of Israel\u2019s strike. Qatar is a key ally of the US and hosts its largest military base in the region, Al Ubeid airbase.\u00a0<\/p>\n
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