Here are some of the most current news points from Nepal:

Nepal Welcomes Gaza Ceasefire Agreement: The Nepalese government has expressed support for the ceasefire agreement in Gaza, emphasizing the need for peace and urging the release of Bipin Joshi and other hostages.

Power Cuts in Lalitpur: The Nepal Electricity Authority (NEA) announced scheduled power cuts in various parts of Lalitpur to replace electric poles, affecting local residents and businesses.

Hydropower Project Agreement: Indian Renewable Energy Development Agency Ltd. (IREDA) has signed a deal with SJVN Ltd., GMR Energy Ltd., and Nepal Electricity Authority for a 900 MW Hydropower Project in Nepal.

Disaster Statistics: According to the National Emergency Operation Center (NEOC), 679 people died, 66 went missing, and 1,323 were injured in Nepal due to natural disasters like floods, landslides, and fires over a recent period.

Political Instability: Observers are noting the recent political instability in Nepal, which complicates its foreign relations, particularly with India and China. This has been discussed in relation to the frequent changes in government leadership.

Legislative Updates: The Public Service Broadcasting Bill was recently passed, with Minister Prithvi Subba Gurung acknowledging there is still much work to be done in this area.

Transgender Candidates in Elections: In a significant step for representation, two transgender candidates ran for election in Nepal, marking a historic moment for transgender political participation.

General Motors (#GM) has decided to discontinue its Cruise robotaxi program, which was aimed at developing and deploying self-driving, autonomous taxis. Here’s a breakdown of the key elements:

Scrapping the Cruise Robotaxi Program:

GM has halted or shut down the Cruise program, which was one of their major initiatives for creating a fleet of autonomous vehicles that would operate as taxis. These self-driving cars were supposed to pick up and drop off passengers without the need for human drivers.

Citing Time and Costs to Scale:

GM found that the amount of time and money required to make the robotaxi program successful and scalable was much greater than expected. "Scaling the business" refers to the process of expanding and making the program large enough to be viable and profitable, which requires significant investment in technology, infrastructure, and regulatory approvals.

Rising Competition from Other Autonomous Driving Competitors:

GM also mentioned that the growing number of competitors in the autonomous vehicle space made it harder to succeed. Other companies, such as Waymo (from Alphabet/Google), Tesla, Aurora, and others, are also developing autonomous driving technologies, which means the market is becoming more crowded and competitive. This increased competition might have led GM to reassess its position in the robotaxi industry.

Key Implications:
Financial and Strategic Realignment: GM may be choosing to reallocate resources to other projects or areas of business where they believe they can have a stronger impact or better return on investment.

Challenges in Autonomous Vehicles: The decision reflects the broader challenges in the autonomous vehicle industry, including the difficulty in developing fully self-driving cars, the high cost of testing and regulatory approval, and the uncertainty around consumer adoption and profitability.

Impact on the Industry: While this is a setback for GM, it doesn't mean that autonomous vehicles are going away. Other companies are still actively pursuing autonomous driving, and there are still opportunities for the technology in other areas (like self-driving trucks or delivery vehicles).

Kamala Harris is looking to make changes to #Biden’s plan for increasing capital-gains taxes. Her team thinks the current proposal sets the tax rate too high. They believe a smaller increase would better support investment in new businesses and make it easier for small businesses to get the funding they need.

Michael Saylor, the outspoken co-founder of business intelligence company MicroStrategy, predicted #Bitcoin would reach $13 million per coin by 2045 during a mega-bullish keynote speech on July 26 at the Bitcoin 2024 conference.

The Manhattan jury found the former President Donald Trump guilty on 34 counts related to falsifying business records in his New York hush-money trial Thursday, opening up an uncertain new era in U.S. politics. Sentencing is scheduled for July 11. - Curtsy of Barron's