Cabinet Chaos, Nasdaq Cheers, and a Louvre Heist: This Week’s Global Rollercoaster

Hello and Namaste from Nepal!

We’re thrilled to bring you our latest edition of Nepali Dias Express, your trusted weekly digest of what’s happening back home, why it matters, and how it connects to Nepalis living around the world.

Nepali Updates

1️. Cabinet Expansion: Four New Ministers, Same Old Story

Prime Minister Sushila Karki expanded her cabinet once again this week, bringing in two new faces: Dr. Sudha Sharma Gautam and Bablu Gupta.

Gautam will now lead the Ministry of Health and Population, while Gupta takes charge of Youth and Sports.

Interestingly, the expansion was supposed to include Ganapatilal Shrestha and Khagendra Sunar as well. But their names were withdrawn at the last minute. Sunar’s reportedly due to pending court cases, and Shrestha’s after a quiet disagreement over which ministry he’d lead. He was said to be eyeing Culture and Tourism, while Karki had recommended him for Land Management instead.

2️. Fusemachines Goes NASDAQ: From Maitighar to Manhattan

Here’s a story that actually feels good to tell.

Fusemachines Inc., founded by Nepali AI researcher Dr Sameer Maskey, began trading on the NASDAQ this week, making it one of the first Nepali-founded tech company to go public in the U.S.

What started in 2013 as a small AI team in Kathmandu is now ringing the Wall Street bell under the ticker FUSE. The company builds AI tools for businesses worldwide and plans to invest IPO funds into R&D and global expansion.

It’s proof that world-class innovation can come from Nepal, even when our government still can’t decide if freelancers count as “exporters.” 

3️. Gen Z Protests: Fifty Arrested for Protesting Without Permits

Maitighar Mandal, the nation’s favorite rally spot, was busy again on Saturday. Police detained fifty members of Gen Z United for protesting without permission. 

The group says they filed for a permit. Authorities say they didn’t. Either way, they ended up in custody. The Home Ministry responded by urging youth to “choose dialogue over agitation,” which sounds reasonable, until you remember these are the same people blocking the dialogue.

4️. FATF Grey List: Nepal Still on Probation

The Financial Action Task Force (FATF) has decided to keep Nepal on its grey list for money-laundering risks. That means they still don't trust our systems enough to let us off the hook.

Nepal had promised major reforms back in February 2025, but FATF says progress is “strategically insufficient.” What they’re trying to say here is: “your words sound nice, but we don’t see a follow-through”.

Staying grey-listed doesn’t shut the economy down, but it makes foreign transactions slower, costlier, and more suspicious. Investors hesitate; banks double-check; you start wondering why your transfer from Dubai takes forever. This is Nepal’s second round on the list since 2008. At this point, it’s less a warning and more a membership.

Global updates 

1️. Trump Slaps Canada With Additional 10% Tariff Over a TV Ad

Donald Trump has done it again, this time slapping a 10% tariff on Canada not because of trade deficits or steel, but because of a TV ad.

The Ontario government ran a short commercial during the World Series quoting Ronald Reagan’s 1987 speech on free trade “Trade barriers hurt every American worker.” It was a friendly nod to open markets. Trump, however, saw it as a personal attack.

He went on Truth Social calling the ad “fraudulent,” accusing Canada of twisting history, and announced higher tariffs “over and above what they are paying now.” Essentially, the U.S. just taxed its closest ally for having an opinion.

Ontario Premier Doug Ford quickly pulled the ad after a call with Prime Minister Mark Carney, who’s now scrambling to reopen talks. Trump says he won’t meet him, though both will be at the ASEAN summit in Malaysia next week, which should be… awkward.

2️. Ireland Has a New President!

Ireland finally has a new president, and honestly, the margin was a surprise to almost everyone watching.

Catherine Connolly, a 68-year-old independent and long-time social justice campaigner, swept the election with 63% of the vote, one of the biggest margins in Irish history.

In her victory speech at Dublin Castle, she said she’d be “a president who listens and speaks when necessary.” It was simple, understated, and perfectly captured the tone of her campaign: people-first, independent, and quietly defiant.

Connolly has always been outspoken, especially on issues like housing, equality, and Ireland’s foreign policy. Her open support for Gaza during the recent conflict resonated with young voters, many of whom felt mainstream parties had lost touch.

3️. The London Summit; Turning Off Putin’s Money Tap

More than 20 countries met in London this week to tighten the screws on Russia, this time by pledging to take its oil and gas “off the global market.”

UK Prime Minister Keir Starmer, hosting the summit, said the goal was to “cut the oxygen to Putin’s war machine.” The UK and U.S. have already sanctioned Russia’s biggest oil companies; the EU has now joined in by targeting Russian LNG exports.

Ukrainian President Volodymyr Zelensky was there too, reminding everyone that pressure, not negotiation, is the only way forward. But once again, allies couldn’t agree on sending long-range missiles. Trump told Zelensky he’s “not ready,” to supply them, while Putin warned of “an overwhelming response” if anyone tries.

4️. The Louvre Heist 

Here’s one that sounds straight out of a Netflix script: thieves robbed the Louvre last week.

On 19th October, a gang broke into the museum and got away with royal jewels worth tens of millions of euros, all in under eight minutes.

They used a vehicle-mounted lift to reach a balcony window in the Galerie d’Apollon, smashed two display cases, and vanished with Empress Eugénie’s tiara and Marie Louise’s emerald necklace, both priceless 19th-century artifacts.

Two suspects have been arrested so far, one caught at Charles de Gaulle Airport while trying to flee to Algeria. French authorities believe it was a professional job, possibly commissioned.

President Macron called it “an attack on our history.” The Louvre is now closed for investigation, and Parisians are understandably furious. As one senator quipped, “We protect the Mona Lisa like a queen but left the crown jewels with a broken alarm.”

Until Next Week

Nepal added ministers, America added tariffs, and someone added the Louvre to their shopping list.

Different continents, same energy. See you next Sunday.

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