The Fed has raised its benchmark overnight interest rate for the first time since February.The Bank of England's decision comes at a time when investors are hoping for an easing in monetary policy, and the central bank's rate remains steady despite rising inflation.The dollar has gained as much as 3% against the yen in the past week.The benchmark 10-year yield climbed to 2.79% after falling below ...
Narmadas is a small, quiet village in the foothills of Mount Everest’s peak.
On a recent evening, the villagers of this village gathered to watch the first sunrise since a heavy downpour in March, when the region was struck by a devastating avalanche.
“We are waiting for the weather forecast,” said Ramkumar, a farmer, pointing to a small house on a hill overlooking the village.
A week later, they were still waiting.
It has been a week since Nepal’s deadliest natural disaster in recent years.
The region has been under an unprecedented cyclone, with more than 50 people dead, most of them Nepalese.
“This is our last hope,” said Arun, who declined to give his last name, fearing repercussions.
He is not alone.
In the village, a young couple, Rishan and Manik, are waiting in their car for the next delivery.
In the darkness, a small group of men in suits and ties watch the sunrise over the mountains.
More than 3,000 people have been killed and millions displaced since a catastrophic avalanche on March 11 struck Narmads village, the epicenter of the avalanche.
The weather service had warned that the mountain could slide away at any time, with a potentially deadly surge of heavy rain.
At least 50,000 Nepaleses have been evacuated to shelters across the country.
The government has issued mandatory evacuations, but a few have escaped, including Ramkumars and his wife, Kishan.
Kishan’s father, Bhim, says the family has been lucky, but there is still no clear indication of the magnitude of the collapse.
“The next five days will be a struggle,” said Bhim.
On the outskirts of Narmad, a new town has been built to house the displaced.
People gather in the village of Muhadara on the slopes of Mount Muhadhara on March 12.
This village, with its isolated villages, is still in the process of rebuilding.
Its only water supply is a trickle from the surrounding mountain.
Thousands of Nepalesis have been sheltering in tents and other buildings around the mountain, hoping for help in the coming weeks.
But even in a town where villagers have rebuilt, there are many questions that are still unanswered.
What happened to the village that collapsed?
Why were the snowmobiles still on the mountain?
Why was the local water supply cut off?
The government has promised to provide answers.
Nepal’s new government, led by Prime Minister Sher Bahadur Deuba, is trying to solve these questions.
Last week, Deuba called on the international community to step in to provide aid to the country, but it has been unclear whether the Nepalesian government will be able to meet its promises.
A massive rescue operation was launched by Nepal’s National Disaster Response Force (NDRF) on March 16, with the help of the US and other international partners.
The government says that as of March 16 there were more than 3 million people registered as displaced in Nepal, including 1.5 million Nepalesians who were relocated.
The NDRF says the operation has been successful, with 1,500 people being relocated, while the other 1,100 are still in camps.
However, there is much uncertainty as to the extent of the rescues, with officials saying that some of the people who were in the camps did not have sufficient tents and were left without water and food.
As of March 17, 1.3 million people in Nepal were still listed as displaced, according to the NDRFs latest count.
The US has also pledged $5.7 billion in assistance to the government to help the affected communities.
The Nepalesi government says it will be providing water, sanitation and health care to the refugees.
However, the Nepali government has yet to provide a detailed breakdown of the funding, with estimates ranging from $200 million to $300 million.
The NDR Fates have been working to restore power, but in some places the electricity supply has been cut off and people are living without power.
There have been reports of people being locked inside their homes for days, and the authorities have been forced to send thousands of police and army officers to rescue people trapped in their homes.
Some of the refugees have reported being forced to pay bribes in exchange for water and other supplies, which some believe is illegal.
With the Nepalas latest attempt to ease the situation, the government has acknowledged that it is a difficult time.
“For us, this is a day of hope,” Prime Minister Deuba said.
“I want everyone to take a moment and remember that the people of Nepal have never been better, and they will never be worse.”