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In a world increasingly aware of sustainability, tourism emerges as a soft power reshaping economies and societies, expanding employment opportunities, developing infrastructure, building bridges between cultures, and promoting global understanding.Reflecting this pivotal role, the theme of World Tourism Day 2025 was chosen as Tourism and Sustainable Transformation, a global call to harness this vital sector in promoting inclusive development and building a more environmentally and economically balanced future.The 2025 celebration of World Tourism Day emphasises strategic planning for the development of facilities and establishments, as well as training workers in language learning and understanding the requirements of diverse audiences.It also seeks to open new horizons for visitors, strengthening a culture of travel and mobility by blending traditional entertainment with modern travel experiences and luxury.This is achieved through effective monitoring of social media and digital platforms to capture tourist decisions and the evolving trends in their choices.On this occasion, UN Secretary-General Antonio Guterres affirmed that tourism represents a driving force for transformation, as it strengthens connections between people and places, builds bridges across cultures, preserves traditions, restores cultural heritage, and reminds us of our shared humanity and diverse richness.He highlighted that the theme, Tourism and Sustainable Transformation, calls for investment in education and skills development, particularly for women, youth, and marginalised communities, as well as supporting micro, small, and medium-sized enterprises.He also urged greater climate action by reducing emissions across the entire tourism sector, preserving biodiversity, and protecting fragile ecosystems.According to a report by the World Travel and Tourism Council (WTTC), the travel and tourism sector provides one in every ten jobs and accounts for one-tenth of global GDP.The report noted that the sector boosts economic growth through consumer spending and linked production chains.The contribution of travel and tourism to the global economy reached $10.9tn in 2024, underscoring its vital importance as a global economic pillar.Travel and tourism have also become one of the world’s largest sources of employment.In 2024, the sector supported a total of 357mn jobs, equivalent to one in every ten jobs worldwide.This reflects the sector’s role in generating direct employment in hotels, airlines, and restaurants, as well as indirect opportunities in related industries such as agriculture, food production, transportation, and infrastructure.Domestic visitor spending, known as domestic tourism, amounted to $5.3tn in 2024, an increase of 5.4% compared to 2023.Meanwhile, international visitor spending, outbound tourism, rose by 11.6% annually to reach $1.9tn, reflecting a strong rebound in cross-border travel in recent years.Observers point out that tourism is no longer confined to leisure destinations but has expanded to include diverse types that meet varying visitor needs and preferences.These include sports and beach tourism, as well as cultural tourism focused on exploring national heritage, history, traditions, and artistic expressions.Other forms include religious tourism, in addition to medical and wellness tourism sought by those pursuing treatment, natural therapies, or relaxation to achieve fitness and recovery.Environmental tourism, which emphasises exploring and appreciating the natural environment, also plays an important role.This wide diversity of tourism types not only caters to multiple interests but also strengthens the sector’s contribution to economic and social growth.Despite the policies and efforts aimed at enhancing the tourism sector, it continues to face numerous challenges, most notably climatic, health, and security-related factors.Tourist sites, whether cultural or natural, can be severely damaged by natural disasters such as earthquakes, floods, and storms.Tsunamis, earthquakes, and wars are among the gravest threats to tourism activities.Armed conflicts and social unrest can also lead to significant declines in visitor numbers and tourism flows.The sector is equally vulnerable to highly contagious diseases.The coronavirus (Covid-19) pandemic, for example, imposed strict global restrictions on land, sea, and air travel, leading to the closure of major tourist attractions such as museums, parks, and other destinations, as well as restaurants and hotels that provide leisure services.As a result, the sector contracted globally by 3.4% in 2020, highlighting its sensitivity to major health crises.In recent years, digital transformation and the use of electronic applications have played a significant role in facilitating tourist mobility.These include travel booking systems, flexibility in personal rescheduling, streamlined airport procedures, and improved hospitality services for tour groups.Such technology has become a central pillar in advancing tourism development and enhancing the visitor experience.In Qatar, tourism receives significant attention from government institutions and the tourism authority, particularly in terms of developing and diversifying tourism facilities, overcoming climate challenges, and providing an integrated infrastructure suitable for all seasons of the year.This includes hotels, transportation networks, wellness resorts, artificial islands, and sports and entertainment facilities, thereby strengthening Qatar’s position within its competitive regional environment.In this context, several entities stand out, led by Qatar Tourism (QT) and Visit Qatar, which both support the development of the tourism sector in the country.Since 2022, Qatar has launched the Hayya electronic visa platform, which has evolved into a comprehensive system that facilitates electronic entry permits and provides visitors with a safe and seamless experience.The platform offers five types of electronic visas and has successfully processed more than 2mn applications during the period following the FIFA World Cup Qatar 2022, specifically from 2023 until early September 2025, according to the QT.This reflects its vital role in facilitating visitor entry and enhancing the tourism experience in the country.According to the Visit Qatar website, the number of international visitors to Qatar reached 2.6mn in the first half of 2025.Visitors from the Gulf Co-operation Council (GCC) countries accounted for the largest share of this figure, followed by visitors from European countries.Of the total number of visitors, 57% arrived by air, 33% by land, and 9% by sea.The average hotel occupancy rate for the market in the first half of 2025 stood at around 71%, while the number of hotel nights sold reached 5.23mn.Meanwhile, data from the QT showed that the entire tourism sector contributed QR55bn to the country’s GDP in 2024, equivalent to about 8% of the total economy.This represents a 14% increase compared to 2023, a clear indicator of progress toward achieving the Qatar Tourism Strategy 2030 goal of raising the sector’s contribution to 12% of GDP.These figures reflect the magnitude of efforts invested, the diversity of events, and the development of entertainment areas in Qatar.Among the most prominent was the Qatar Games Festival, which concluded its third edition by attracting more than 130,000 visitors, exceeding attendance figures of the previous edition by 12%.Other major events included the Doha Jewellery and Watches Exhibition 2025, Ras Abrouq Desert Experience, Sealine Season, Qatar Shopping Festival 2025, Qatar International Food Festival (QIFF), and Throwback Food Festival, along with key initiatives such as Scoop by the Sea and ongoing Whale Shark Tours.Qatar’s tourism offerings also include access to iconic sites and landmarks such as the Katara Towers in Lusail City, designed in the shape of a crescent that embodies the national identity with a striking presence inspired by the crossed swords of Qatar’s national emblem.Another highlight is the Greek-Roman amphitheatre in Katara Cultural Village, a unique architectural blend of Islamic and ancient Greek elements, overlooking the sea and regularly hosting concerts and performances.Equally captivating is Mina District at the Old Doha Port, a vibrant artistic scene with colourful buildings, cobblestone streets, and a scenic promenade where cruise ships dock.Meanwhile, Souq Waqif remains a hub of authenticity, where the aroma of tradition mingles with modern vibrancy through its many shops and local dining experiences, all located near the distinctive Fanar Islamic Cultural Centre and its iconic minaret.Also noteworthy is the Qatar National Library (QNL), located in the heart of Education City, which houses millions of books alongside advanced educational facilities and programmes.The Museum of Islamic Art, designed by Pritzker Prize-winning architect I M Pei, occupies a prime location on the Doha Corniche and holds one of the world’s finest collections of Islamic art.Equally impressive is the National Museum of Qatar, designed by French architect Jean Nouvel and inspired by the desert rose, both serving as homes for world-class art exhibitions and cultural exchange.Among modern projects, Msheireb stands out as the world’s first sustainable downtown regeneration project, embodying a futuristic spirit.Also notable is the Education City Celebration Pavilion, designed by Japanese Pritzker Prize-winning architect Arata Isozaki.Qatar’s hosting of major international sports events and their wide audiences plays a pivotal role.The country has successfully staged global tournaments such as the 2015 World Men’s Handball Championship, the FIFA World Cup Qatar 2022, and continues to host remarkable editions of world beach games, tennis, squash, padel, and various regional and continental championships.In the second half of this year, Qatar will host several major events, including the World Triathlon Championship Finals Qatar T100 in Doha, in co-operation with the Professional Triathletes Organisation, as well as the FIFA Arab Cup Qatar 2025 and the Qatar Airways Grand Prix Formula 1.Qatar is also preparing to host the next Basketball World Cup in 2027.Furthermore, the QT and Visit Qatar are implementing major events and projects during the latter half of the current year, with the country preparing to welcome the 2025-26 cruise season.This follows the exceptional success of the previous season, which saw the arrival of 87 cruise ships, marking a 19% increase compared to the season before.The number of cruise visitors during that season exceeded 360,000, reflecting a 4% rise compared to the previous season, underscoring the ongoing efforts to diversify and develop the country’s maritime tourism sector.

In a world increasingly aware of sustainability, tourism emerges as a soft power reshaping economies and societies, expanding employment opportunities, developing infrastructure, building bridges between cultures, and promoting global understanding.Reflecting this pivotal role, the theme of World Tourism Day 2025 was chosen as "Tourism and Sustainable Transformation", a global call to harness this vital sector in promoting inclusive development and building a more environmentally and economically balanced future.The 2025 celebration of World Tourism Day emphasizes strategic planning for the development of facilities and establishments, as well as training workers in language learning and understanding the requirements of diverse audiences.It also seeks to open new horizons for visitors, strengthening a culture of travel and mobility by blending traditional entertainment with modern travel experiences and luxury. This is achieved through effective monitoring of social media and digital platforms to capture tourist decisions and the evolving trends in their choices.On this occasion, United Nations Secretary-General Antonio Guterres affirmed that tourism represents a driving force for transformation, as it strengthens connections between people and places, builds bridges across cultures, preserves traditions, restores cultural heritage, and reminds us of our shared humanity and diverse richness.Guterres highlighted that the theme "Tourism and Sustainable Transformation" calls for investment in education and skills development, particularly for women, youth, and marginalized communities, as well as supporting micro, small, and medium-sized enterprises.He also urged greater climate action by reducing emissions across the entire tourism sector, preserving biodiversity, and protecting fragile ecosystems.According to a report by the World Travel and Tourism Council (WTTC), the travel and tourism sector provides one in every ten jobs and accounts for one-tenth of global GDP.The report noted that the sector boosts economic growth through consumer spending and linked production chains. The contribution of travel and tourism to the global economy reached USD 10.9 trillion in 2024, underscoring its vital importance as a global economic pillar.Travel and tourism have also become one of the world's largest sources of employment. In 2024, the sector supported a total of 357 million jobs, equivalent to one in every ten jobs worldwide.This reflects the sector's role in generating direct employment in hotels, airlines, and restaurants, as well as indirect opportunities in related industries such as agriculture, food production, transportation, and infrastructure.Domestic visitor spending, known as domestic tourism, amounted to USD 5.3 trillion in 2024, an increase of 5.4 percent compared to 2023. Meanwhile, international visitor spending, outbound tourism, rose by 11.6 percent annually to reach USD 1.9 trillion, reflecting a strong rebound in cross-border travel in recent years.Observers point out that tourism is no longer confined to leisure destinations but has expanded to include diverse types that meet varying visitor needs and preferences. These include sports and beach tourism, as well as cultural tourism focused on exploring national heritage, history, traditions, and artistic expressions.Other forms include religious tourism, in addition to medical and wellness tourism sought by those pursuing treatment, natural therapies, or relaxation to achieve fitness and recovery.Environmental tourism, which emphasizes exploring and appreciating the natural environment, also plays an important role. This wide diversity of tourism types not only caters to multiple interests but also strengthens the sector's contribution to economic and social growth.Despite the policies and efforts aimed at enhancing the tourism sector, it continues to face numerous challenges, most notably climatic, health, and security-related factors.Tourist sites, whether cultural or natural, can be severely damaged by natural disasters such as earthquakes, floods, and storms. Tsunamis, earthquakes, and wars are among the gravest threats to tourism activities.Armed conflicts and social unrest can also lead to significant declines in visitor numbers and tourism flows.The sector is equally vulnerable to highly contagious diseases. The COVID-19 pandemic, for example, imposed strict global restrictions on land, sea, and air travel, leading to the closure of major tourist attractions such as museums, parks, and other destinations, as well as restaurants and hotels that provide leisure services.As a result, the sector contracted globally by 3.4 percent in 2020, highlighting its sensitivity to major health crises.In recent years, digital transformation and the use of electronic applications have played a significant role in facilitating tourist mobility. These include travel booking systems, flexibility in personal rescheduling, streamlined airport procedures, and improved hospitality services for tour groups. Such technology has become a central pillar in advancing tourism development and enhancing the visitor experience.n the State of Qatar, tourism receives significant attention from government institutions and the tourism authority, particularly in terms of developing and diversifying tourism facilities, overcoming climate challenges, and providing an integrated infrastructure suitable for all seasons of the year. This includes hotels, transportation networks, wellness resorts, artificial islands, and sports and entertainment facilities, thereby strengthening Qatar's position within its competitive regional environment.In this context, several entities stand out, led by Qatar Tourism and Visit Qatar, which both support the development of the tourism sector in the country.Since 2022, Qatar has launched the Hayya electronic visa platform, which has evolved into a comprehensive system that facilitates electronic entry permits and provides visitors with a safe and seamless experience.The platform offers five types of electronic visas and has successfully processed more than two million applications during the period following the FIFA World Cup Qatar 2022, specifically from 2023 until early September 2025, according to Qatar Tourism. This reflects its vital role in facilitating visitor entry and enhancing the tourism experience in the country.According to the Visit Qatar website, the number of international visitors to Qatar reached 2.6 million in the first half of 2025. Visitors from the Gulf Cooperation Council (GCC) countries accounted for the largest share of this figure, followed by visitors from European countries. Of the total number of visitors, 57 percent arrived by air, 33 percent by land, and 9 percent by sea. The average hotel occupancy rate for the market in the first half of 2025 stood at around 71 percent, while the number of hotel nights sold reached 5.23 million.Meanwhile, data from Qatar Tourism showed that the entire tourism sector contributed QAR 55 billion to the country's GDP in 2024, equivalent to about 8 percent of the total economy. This represents a 14 percent increase compared to 2023, a clear indicator of progress toward achieving the Qatar Tourism Strategy 2030 goal of raising the sector's contribution to 12 percent of GDP.These figures reflect the magnitude of efforts invested, the diversity of events, and the development of entertainment areas in Qatar. Among the most prominent was the Qatar Games Festival, which concluded its third edition by attracting more than 130,000 visitors, exceeding attendance figures of the previous edition by 12 percent.Other major events included the Doha Jewellery and Watches Exhibition 2025, Ras Abrouq Desert Experience, Sealine Season, Qatar Shopping Festival 2025, Qatar International Food Festival, and Throwback FoodFestival, along with key initiatives such as Scoop by the Sea and ongoing Whale Shark Tours.Qatar's tourism offerings also include access to iconic sites and landmarks such as the Katara Towers in Lusail City, designed in the shape of a crescent that embodies the national identity with a striking presence inspired by the crossed swords of Qatar's national emblem.Another highlight is the Greek-Roman amphitheater in Katara Cultural Village, a unique architectural blend of Islamic and ancient Greek elements, overlooking the sea and regularly hosting concerts and performances.Equally captivating is Mina District at the Old Doha Port, a vibrant artistic scene with colorful buildings, cobblestone streets, and a scenic promenade where cruise ships dock. Meanwhile, Souq Waqif remains a hub of authenticity, where the aroma of tradition mingles with modern vibrancy through its many shops and local dining experiences, all located near the distinctive Fanar Islamic Cultural Center and its iconic minaret.Also noteworthy is Qatar National Library, located in the heart of Education City, which houses millions of books alongside advanced educational facilities and programs.The Museum of Islamic Art, designed by Pritzker Prize-winning architect I. M. Pei, occupies a prime location on the Doha Corniche and holds one of the world's finest collections of Islamic art. Equally impressive is the National Museum of Qatar, designed by French architect Jean Nouvel and inspired by the desert rose, both serving as homes for world-class art exhibitions and cultural exchange.Among modern projects, Msheireb stands out as the world's first sustainable downtown regeneration project, embodying a futuristic spirit. Also notable is the Education City Celebration Pavilion, designed by Japanese Pritzker Prize-winning architect Arata Isozaki.In this context, Qatar's hosting of major international sports events and their wide audiences plays a pivotal role. The country has successfully staged global tournaments such as the 2015 World Men's Handball Championship, the FIFA World Cup Qatar 2022, and continues to host remarkable editions of world beach games, tennis, squash, padel, and various regional and continental championships.In the second half of this year, Qatar will host several major events, including the World Triathlon Championship Finals Qatar T100 in Doha, in cooperation with the Professional Triathletes Organization, as well as the FIFA Arab Cup Qatar 2025 and the Qatar Airways Grand Prix Formula 1. Qatar is also preparing to host the next Basketball World Cup in 2027.Furthermore, Qatar Tourism and Visit Qatar are implementing major events and projects during the latter half of the current year, with the country preparing to welcome the 2025/2026 cruise season.This follows the exceptional success of the previous season, which saw the arrival of 87 cruise ships, marking a 19 percent increase compared to the season before.The number of cruise visitors during that season exceeded 360,000, reflecting a 4 percent rise compared to the previous season, underscoring the ongoing efforts to diversify and develop the country's maritime tourism sector.

While a post-pandemic burst of inflation has abated across much of the developed world, the UK is still stuck with the highest price growth among big Western economies.Granted, consumer price inflation is now well below where it was in late 2022, when it maxed out at 11.1%. That’s after the Bank of England aggressively ramped up benchmark interest rates from almost zero in late 2021 to 5.25% in 2023, sucking money out of the economy by hammering the purchasing power of borrowers.Yet inflation is back again, with CPI reaching 3.8% in July and August, its highest in more than 1-1/2 years and well above the BoE’s 2% target. The bank has responded by maintaining its key rate steady at 4%, prolonging the economic pain for households already suffering from a historic squeeze in living standards.Here’s why it’s proving so hard to get the cost of items ranging from beef to fuel back under control.What’s happened to UK inflation?Britain’s inflation rate surged when economies emerged from the Covid-19 pandemic, as people spent money they’d saved during lockdowns and companies struggled to meet the resulting demand jump amid supply chain disruptions. What’s more, energy prices shot up following Russia’s invasion of Ukraine in February 2022.Higher interest rates have combined with falling energy costs to bring inflation down, but UK CPI has settled above the levels seen across much of continental Europe. August inflation was 0.9% in France and 2.2% in Germany.What’s the reason for the UK’s higher inflation?The bounce back from a brief low of 1.7% in September 2024 has been driven by a rise in household utility bills, particularly energy and, more recently, food.The UK is more reliant than most other major economies on imported gas for its energy needs. UK gas prices surged in 2022 and haven’t returned to pre-pandemic levels. Gas determines electricity prices more than 90% of the time because, under the UK’s “marginal pricing” system, the most expensive source of energy determines the final price.Energy isn’t the whole story. Labour shortages after the pandemic drove up wage growth, and rail and public-sector unions went on strike for better pay during and after the inflation shock.Regular annual pay growth was 4.8% in the three months through July — above the 3-3.5% level that the BoE judges to be consistent with a 2% inflation target and 1-1.5% productivity growth. It is easing, however.The government has also contributed to price pressures by increasing the National Living Wage — the minimum that employers must pay staff who are at least 21 years old — by 9.7%, 9.8% and 6.7% consecutively over the past three years. In April, the government brought in a £26bn ($35bn) payroll tax, which employers have been passing on to customers by raising prices.Why does high inflation matter?At the most basic level, it increases the cost of living and erodes consumers’ spending power — especially for those whose wage growth fails to keep pace with the higher prices.High inflation punishes those on low incomes more as a larger share of their spending goes toward essential items. Food and non-alcoholic drink prices were up 5.1% in August compared with a year earlier, official figures showed. Food prices alone have increased by close to 40% since the onset of the pandemic in early 2020.Also, Britons tend to refinance their mortgages more frequently than their peers in the US and continental Europe, so many households are exposed to the higher interest rates imposed by the BoE to get inflation back under control.UK borrowing costs have been cut five times to 4% from a peak of 5.25%, but are coming down more slowly than in the euro zone, where there have been eight cuts to 2% from 4%. Working-age people often face the biggest squeeze as older generations tend to own their house outright and receive pension payouts linked to inflation.What role has Brexit played in the UK’s stubborn inflation?Many economists say the UK’s exit from the European Union has its fingerprints on the inflation troubles.Research by the London School of Economics suggested that a third of UK food price inflation from the end of 2019 to March 2023 was caused by Brexit because extra border costs added £7bn to grocery bills.BoE Monetary Policy Committee member Catherine Mann warned the newly erected trade barriers made the UK “unique.” The Labour government has struck an agreement with the EU to reduce border frictions for food, but the bigger goal is a broader deal for all goods.What else might be driving UK inflation?Britain’s productivity has declined in recent years, and now lags that of most other leading industrialised nations. A workforce that’s less productive produces fewer goods and services, at a higher cost per unit, and this limits the economy’s ability to grow without stoking inflation.In the second quarter of 2025, productivity growth as measured by output per worker was negative: There was a decline of 1% compared with the same quarter a year earlier, according to the Office for National Statistics.The “speed limit” of an economy, above which growth becomes inflationary, is determined by productivity and labour supply. High levels of migration since 2010 have propped up the UK growth rate, concealing the dismal productivity performance. A long-running dearth of business and government investment has been blamed for the paltry productivity growth since the 2008 financial crisis.Will UK inflation fall soon?Rising food prices have emerged as the latest obstacle to lower inflation. Beef, orange juice and chocolate have seen big increases. Fuel costs have also jumped, lifted by the price of oil.The BoE is alert to even temporary price spikes as households — sensitised over recent years to the damage to living standards inflation can cause — try to boost their spending power with higher pay demands.Bank officials have said they believe higher interest rates are working and inflation will be back at 2% in early 2026. But the immediate hump in price growth is making them nervous.Inflation is now one of the biggest concerns among the public, with food inflation expected to rise to 6% by the end of the year,” said Helen Dickinson, chief executive of the British Retail Consortium.The UK jobs market has shown clear signs of cooling, which may reduce upward pressure on wages. A BoE survey of employers found that wage growth will be around 3.5% by the end of 2025. US President Donald Trump’s trade war may also help the disinflation process in the UK as exporters such as China reroute shipments to lower-tariff countries like Britain.When will the BoE cut interest rates, and how far?The BoE refuses to give an official estimate for the “terminal rate,” where borrowing costs will naturally settle if the economy is operating at full capacity and inflation remains at 2%.Most economists believe it is between 3% and 3.5%. Alan Taylor, an external member of the BoE’s Monetary Policy Committee, said he believes rates will settle at around 2.75%. Compared with the decade after the financial crisis, when rates were around 0.5%, that seems high. Before 2008, however, rates were rarely lower than 4.5%.By late September, with UK inflation looking stickier than previously thought, investors had reined in their expectations for imminent interest rate cuts, and markets were pricing in little likelihood of a cut in November, and only a small chance of one in December.

Foreign investors are plotting a return to China’s stock markets in a big way three years after pulling back and terming them uninvestable, encouraged by the tech opportunities on offer, and a growing demand for diversification beyond US assets.Progress in China’s adoption of artificial intelligence and its development of semiconductors and innovative drugs this year has given comfort to global investors that the Sino-US trade war and Washington’s tech export bans have not deterred innovation in the world’s second-biggest economy.The US-China tariff truce and a domestic monetary easing environment have further boosted sentiment. As a consequence, the Shanghai Composite index touched a decade high last week while Hong Kong stocks hit a four-year high.The changing sentiment of foreign investors could potentially add fuel to the market rally, which has so far been mainly driven by domestic players.Foreign early birds are already back in China, lured by this year’s bull run and as they seek diversification from crowded US assets, said Brett Barna, a former hedge fund manager who now manages two New York-based single-family offices.“China is interesting because it’s very uncorrelated to the rest of the world, at least the onshore A-share market,” Barna said, adding he plans to set up an investment platform that would allow US and European capital to access China’s capital markets.Data on fund launches and flows illustrates the growing enthusiasm for a $19tn Chinese stock market, including Hong Kong.August marked the biggest monthly buying of China stocks by global hedge funds in six months, according to a report by Morgan Stanley, which did not detail numbers.Morningstar data showed the number of emerging market ex-China equity fund new launches slid to eight in 2025 versus 21 in 2024 and 16 in 2023. That meant demand for emerging market investments that did not include China had cooled substantially this year.“A year ago, people wanted to exclude China from indices. Now, China is seen as a standalone asset class (they cannot ignore),” said Zheng Yuchen, chief investment officer of the China fund unit of Allianz Global Investors.The anecdotal evidence is also piling up.Polar Capital, a London-based $20bn asset manager, pivoted to a positive stance on China in late 2024 from underweight and has further increased the China allocation to over 30% from the low 20% range within its emerging market portfolio this year, said its fund manager Jerry Wu.The firm’s annual conference in February this year attracted a full house of 55 clients to the China session, more than double the attendance in 2023, he said.There is “a revaluation of Chinese innovative assets” triggered by DeepSeek’s breakthrough, said Wu, referring to the creator of the highly cost-efficient AI model that rivals ChatGPT. He said momentum has picked up across the board, from AI to biotech and robotics.Benjamin Low, senior investment director at investment firm Cambridge Associates, said his team has received some 30 client inquiries about searching for China funds this year, in a sharp contrast to the trough in 2023 when there were very limited queries about China-focused mandates.Many non-Asia-based allocators are planning trips to China and Hong Kong later this year to explore investment opportunities, with some for the first time since Covid, he said.To be sure, some of China’s long-standing problems are persisting. Its broad economy remains mired in weakness, as indicated by August factory output, retail sales data and some other indicators.Foreign direct investment in the first five months of 2025 slumped 13.2% from the year-earlier period, forcing China to unveil new measures in July to reverse the decline.The fragile economy is one of the main reasons that, while early movers are coming in, it has not yet translated into meaningful long-term capital inflows.CLSA chief equity strategist Alexander Redman said the deflationary pressure in the economy is preventing him from overweighting the entire market.And Wu of Polar Capital said the AI boom has to benefit the broader economy to sustain the rally beyond 2025.Foreign investors are now in a “rerating” phase, focusing on China’s long-term competitiveness, said Cheng Yu, a portfolio manager at AllianzGI’s China fund unit.“Foreign capital is standing at the door and watching. They haven’t stepped in yet — but are at least thinking about coming back.”

The GCC Statistical Center revealed in a report on Monday that the total assets of commercial banks in the Gulf Cooperation Council (GCC) countries increased by 10 percent in 2024, reaching approximately USD 3.5 trillion, compared to 2023.The report mentioned that the total deposits in these banks amounted to about USD 2.1 trillion in 2024, showing a 9.6 percent increase compared to 2023.The report also highlighted the rise in total loans provided by the banks, reaching nearly USD 2.1 trillion in 2024, an increase of 9.9 percent over 2023, with the private sector accounting for about 80.7 percent of the total loans.The statistics from the GCC Statistical Center showed a decline in the non-performing loan ratios across the GCC countries during the period from 2020 to 2024, with a noticeable variation in the loan-to-deposit ratios, ranging between 66 percent and 125 percent.Regarding capital adequacy, the GCC countries maintained high levels, surpassing the minimum threshold set by the Basel III Committee of 8 percent, with ratios ranging between 17.8 percent and 32 percent in 2024.On the financial performance front, commercial banks in the GCC countries witnessed significant growth in their net profits over the past four years, surpassing pre-COVID-19 levels.

In a historic moment that changed the face of the world, the Charter of the UN emerged eighty years ago as a shining star in a sky darkened by the smoke of wars, opening doors of hope to a world of tranquillity, stability, and safety for the peoples of the Earth, who pledged to unite under the banner of peace and weave dreams of unity into a reality flourishing with justice and co-operation.The Charter served as a bridge across the abyss of conflict, uniting nations in their pursuit of stability and development. From the halls of deliberation to the fields of humanitarian action, written words transformed into deeds that saved lives and rebuilt communities of peoples and tribes, paving countless paths towards a future filled with unwavering optimism, to build a world that embraces all and upholds human dignity in every corner of the globe.On Oct 25, 1945, in the aftermath of World War II, representatives of around 50 countries gathered in San Francisco, USA, to sign the Charter of the UN, a document that carried within it a new hope for a world torn apart by the ravages of war, and a solemn vow that such devastating conflict would never occur again.In celebration of the 80th anniversary of the signing of the Charter, the UN General Assembly held a commemorative event at the organisation’s headquarters in New York City on June 26, reviving the spirit of San Francisco and embracing the ideals that united humanity in its darkest hours.During the ceremony, attendees heard remarks from the President of the UN General Assembly, the Secretary-General, the President of the Security Council, the President of the Economic and Social Council, and the President of the International Court of Justice.They emphasised the importance of recommitting to the principles of the Charter amid escalating conflicts and violations of international law, affirming that multilateralism remains the only path to safeguarding peace, dignity, and human rights.President of the General Assembly Philemon Yang stated that the signing of the Charter marked a turning point in modern history following the devastation of two World Wars, laying the foundations for a new multilateral system meant to be built on dialogue and co-operation.He added that the UN, over eight decades, has been at the heart of humanity’s response to its greatest challenges, shaping a global agenda that aspires to peace, development, and dignity, not as dreams for some, but as promises for all.For his part, UN Secretary-General Antonio Guterres said that eighty years after the signing of the Charter, the world is witnessing unprecedented assaults on the purposes and principles of the UN Charter, urging all member states to uphold the spirit and letter of the Charter and the future it calls all to build, for peace, justice, and progress, for all peoples of the earth.Guterres also affirmed that the Charter has provided the tools to change destinies, save lives, and instil hope in the most despairing corners of the world.The UN Charter consists of 19 chapters comprising 111 articles. It begins with an inspiring preamble focused on maintaining international peace and security, fostering friendly relations among nations, and promoting international co-operation to solve economic, social, and cultural problems.Through its chapters, the Charter outlines a roadmap for peace, justice, and co-operation, affirming principles of sovereign equality, respect for international obligations, and the peaceful resolution of disputes. It also defines the conditions for admitting new members, suspending membership, or expelling any state that violates its principles.The chapters of the Charter specify the roles and responsibilities of the UN General Assembly, the Security Council, and the Secretary-General.Chapter VII, one of the most critical sections, addresses actions related to threats to peace. When peaceful means fail, this chapter grants the Security Council the authority to take decisive measures, such as economic sanctions or military intervention. It also recognises the right of states to self-defence if subjected to armed attack.On various occasions, Qatar renews its unwavering commitment to the spirit and letter of the UN Charter, affirming its dedication to supporting the UN’s continued role as a platform for dialogue and unity in today’s world.Most recently, this position was expressed in early July by Qatar’s Permanent Representative to the UN HE Sheikha Alya Ahmed bin Saif al-Thani, in a statement delivered before the UN General Assembly meeting held in New York to mark the 80th anniversary of the signing of the UN Charter.HE Sheikha Alya emphasised that the 80th anniversary represents a pivotal moment to unify efforts in preserving international peace and security and promoting economic and social progress for all peoples, stressing that the role of the UN has become more vital and urgent, especially as the world today faces the highest number of conflicts since 1945.She noted that Qatar has consistently championed the centrality of international law, the principles of the Charter, the peaceful resolution of disputes, and the respect for the sovereignty and territorial integrity of states.Over the decades, the UN has played a central role in resolving conflicts and preventing their escalation. Since 1948, it has launched more than 70 peacekeeping operations, including missions in Lebanon, Sinai, Cyprus, and the Congo.Hundreds of thousands of Blue Helmets have participated in these operations, helping stabilise conflict zones and saving millions of lives.The organisation has also contributed to the signing of historic peace agreements, such as the Camp David Accords (1978) between Egypt and Israel, and the peace agreements in Colombia (2016). It supported reconciliation efforts in regions like Rwanda and Bosnia following devastating conflicts. Through the Treaty on the Non-Proliferation of Nuclear Weapons in 1970, the UN played a decisive role in curbing the nuclear arms race, helping avert a global catastrophe.In the realm of human rights, the UN has been a voice for the vulnerable and a refuge for those in need. The Universal Declaration of Human Rights stands as one of its landmark achievements, a historic document that set global standards for human rights, inspired constitutions and legal systems worldwide, and laid the foundation for holding states accountable for violations.Throughout its eight-decade journey, the UN has provided humanitarian aid to millions affected by wars and natural disasters across the globe. In addressing the climate crisis, the UN demonstrated visionary leadership, playing a key role in shaping the Paris Climate Agreement (2015), a historic accord in which member states committed to reducing carbon emissions and limiting global warming to below two degrees Celsius.During the Covid-19 pandemic, the World Health Organisation (WHO), a UN agency, led global efforts to distribute vaccines through the Covax initiative, which delivered billions of doses to low-income countries.Despite its many successes, the UN has not been immune to criticism. It has faced scrutiny over its limited influence in major conflicts and the slow pace of decision-making due to disagreements among member states. Nevertheless, the organisation continues to adapt, focusing on future challenges such as cybersecurity, climate-induced migration, and the risks and ethics of artificial intelligence.Between triumphs and setbacks, the UN has remained, for eighty years, a beating heart of hope and global co-operation. It has rescued millions from the grip of crises, disasters, wars, poverty, and disease, raising the banner of rights and freedoms atop vessels of hope.The UN has preserved its role as a compass guiding humanity’s ship, steering its rudder and sails through the winds of turmoil and storms of hardship, so that the dream of peace and co-operation among nations may become a tangible reality, embraced and breathed by every human on this planet.

As widely expected, the US Federal Reserve (Fed) trimmed its policy rate by 25 basis points to a new range of 4-4.25% on September 17, acknowledging a softening labour market even as inflation perked up in recent months in the United States.It’s the first rate cut of President Donald Trump’s second term, following a nine-month pause prompted by the uncertainty surrounding the administration’s major policy shifts.Policymakers cited slowing job growth, cooling inflation, and softer consumer spending as key factors. Inflation has eased toward the Fed’s 2% target, giving room to support growth without reigniting price pressures.However, the US economy’s path forward looks murky, according to Fed Chair Jerome Powell.Still, the Fed moved forward with a “risk management cut,” as Powell characterised it, because central bankers can’t wait around forever for the effects of Trump’s policies to become crystal clear.“We have to live life looking through the windshield rather than the rearview mirror,” CNN quoted Powell and said.In the second half of 2024, the central bank had reduced its policy rate by 100 basis points as inflation had receded from its post-Covid high, then kept it unchanged for eight months as inflation stayed sticky.Once the Trump administration imposed broad tariffs on most foreign goods, uncertainty about their ultimate effects on inflation increased.Inflation of goods exposed to tariffs, such as furniture and appliances, have begun to climb in recent months, according to economic data.The Fed chair said the impact of tariffs on prices has not had a “very large effect at this point”, but that the full extent of those effects remains to be seen.But in the end, it was the labour market’s future that was top of mind for Fed officials.In assessing the economy, the Fed said: “Recent indicators suggest that growth of economic activity moderated in the first half of the year. Job gains have slowed, and the unemployment rate has edged up but remains low. Inflation has moved up and remains somewhat elevated.”Fed officials pencilled in an additional rate cut later in the year, according to their updated economic projections, compared to the two cuts in 2025 they estimated in June.That would mean the Fed could deliver another quarter-point cut at its October meeting, then another in December.“However, their projections for unemployment and inflation this year were unchanged compared to their June estimates,” CNN noted.Powell made it clear that growing risks to the labour market were a key reason why the Fed finally lowered rates, even though there’s also a risk of Trump’s tariffs pushing up prices.The Fed chief characterised the labour market as one of “low hiring and low firing”.He pointed to high unemployment among young people as a consequence of today’s low hiring environment. The Fed noted in its policy statement that “downside risks to employment have risen”.“The concern is that if you start to see layoffs, there won’t be a lot of hiring going on,” Powell said.America’s central bankers remain in a tough spot, with both sides of their dual mandate — stable prices and maximum employment — under threat.Analysts say it’s very likely the Federal Reserve will take into account the weaker jobs-creation and labour‐market data in its upcoming decisions.When the labour market weakens, that obviously reduces pressure on inflation. This is because wage and price pressures are likely to ease if demand for workers falls.Analysts see this as a clear signal that economic growth is cooling — both are relevant for deciding whether to ease monetary policy – either to cut interest rates or keep policy tighter!Going forward, the Fed vowed to pursue a “data-dependent” approach, signalling that future moves will hinge on inflation and labour market trends and not a preset path of cuts.

Sydney McLaughlin-Levrone brought the house down yesterday by coming within a whisker of breaking the four-decade-old women’s 400 metres world record while Botswana’s Busang Collen Kebinatshipi impressively won the men’s one-lap title.McLaughlin-Levrone ran through the rain to take gold and post the second fastest time in history of 47.78sec at the Tokyo National Stadium. It will surely only be a matter of time before the 400m hurdles world recordholder breaks the mark of 47.60 set by East Germany’s Marita Koch in 1985, which has long had question marks hanging over it.McLaughlin-Levrone’s decision to switch from the hurdles to the flat this season paid off handsomely.It was the same stadium where the 26-year-old American won her first 400m hurdles gold, but that was in front of empty stands due to the Covid restrictions at the Tokyo Olympics. This time she was able to rush over, stand on her toes and kiss her husband, Andre Levrone Junior, among the spectators.“You know at the end of the day, this wasn’t my title to hold on to, it was mine to gain,” she said. “Bobby (Kersee her coach) uses boxing terms all the time. He said you got to go out there and take the belt It’s not yours and you got to go earn it.”Botswana came into the men’s 400m final never having won a medal in the event in the championships – they left with two. The largely unknown Busang Collen Kebinatshipi took gold, in 43.53sec, the fastest time in the world this year.**media[358673]**His teammate Bayapo Ndori added bronze. “This is my first title and it feels crazy,” said Kebinatshipi. “In the final, I had no fear. I wanted to go all out and see where I could go.”Trinidad, like Botswana, also took away two medals. Seasoned campaigner Jereem Richards won silver in the 400m – if he had had another 10 metres it would have been gold, so fast was he finishing – and 2012 Olympic champion Keshorn Walcott rolled back the years to win the javelin world title.“When we spoke about this before the competition it looked like a joke,” said Richards of their double haul. “Now it’s a reality.”All good things have to come to an end and such was the case for entertaining Venezuelan triple jump icon Yulimar Rojas. The 29-year-old’s record run of four successive world outdoor golds was ended by Leyanis Perez Hernandez, who won Cuba’s first gold in the women’s triple jump since Yargelis Savigne collected the second of her world titles in 2009.“I’m proud of myself,” said Rojas, who missed the 2024 Paris Olympics after injuring her Achilles tendon. “I had two very tough years but this is the life of an athlete. You have to go through hard times and show you can come back. That’s what I did and it means a lot.”Kenya’s women have dominated the middle distance and longer running events so far, with their bitter rivals Ethiopia failing to land a blow – and their dominance unlikely to be halted in the women’s 5,000.Today’s final will be a clash between world record holder Beatrice Chebet and defending champion Faith Kipyegon.Both sailed through qualifying and adding spice to the battle for supremacy as both women are going for doubles, Chebet to add to her 10,000m gold and Kipyegon the 1,500m title.There is, though, one middle distance event where Kenya does not rule – the women’s 800m. Britain’s Olympic champion Keely Hodgkinson, who was laid low for almost a year by hamstring problems, cruised through her heat.The 23-year-old, who posted the fastest time of the year, 1min 54.74sec, on her return to action in the Silesia Diamond League meeting last month, said Olympic gold would take a backseat if she wins on Sunday. “It would mean more than last year,” she said.

The beauty of sport is its ability to surprise and Isaac Nader produced one of the biggest ever in international 1,500 metres finals as he won the world title Wednesday while Katie Moon was a more predictable winner of a third successive pole vault crown.Portugal had never had a medallist in the 1,500m but Nader's storming run in the home straight was enough for the 24-year-old to deny Jake Wightman of Britain a second title. "Some people criticised me and said I would never achieve this but here I am – world champion and the first Portuguese athlete to win a global gold in the 1,500m," said a beaming Nader.While Wightman celebrated his silver after an injury-plagued three years since he won the title in 2022, there was misery for reigning champion Josh Kerr after the Briton was left hopping along midway through the race, apparently with an injury.Even at 34, Moon is pretty much unbeatable in an event that has failed to match the heights of the men's event in which Armand 'Mondo' Duplantis broke the world record for the 14th time in Tokyo. Moon triumphed with a best vault of 4.90 metres, a considerable 16 centimetres shy of the world record set by Yelena Isinbayeva 16 years ago."It feels fun watching girls getting in shape in real life," said Moon. "I am 34 now and I have seen several athletes come in young and blossom. All my medals are special but this one is the one. The older you get, it gets harder."The men's long jump went to Italian Mattia Furlani, 20, who confirmed his Olympic bronze last year was no fluke with a winning effort of 8.39m. Defending champion and two-time Olympic gold medallist Miltiadis Tentoglou of Greece was totally out of sorts and finished 11th.One lesson to be learned is beware Kenyan women distance athletes called Faith. Faith Kipyegon romped to the 1500m title on Tuesday and Wednesday it was the turn of Faith Cherotich to triumph in the 3,000m steeplechase.Femke Bol has had the misfortune to compete in the 400m hurdes at a time when the phenomenon that is Sydney McLaughlin-Levrone has been around.McLaughlin-Levrone, though, has turned her attention to the 400m flat and is favourite to add that world title to her tally Thursday.Bol, three times a minor medallist behind the American, can take advantage of her absence to retain her world crown, just as she did in the 2023 championships. Bol had far too much pace in her semi-final for former Olympic and world champion Dalilah Muhammad, who at 35 is 10 years older than the Dutchwoman.The climax to the men's event is a rematch of the three medallists from the 2021 Olympic final in Tokyo. Karsten Warholm, who set a memorable world record on that scorching day, takes on runner-up Rai Benjamin, who avenged that defeat in winning Olympic gold in Paris last year, with bronze medallist, 2022 world champion Alison dos Santos, completing the trio.The stage is set for perhaps the most keenly awaited clash in the field events, the men's javelin final Thursday, between Olympic gold medallist Arshad Nadeem of Pakistan and the man he deposed in Paris last year India's Neeraj Chopra. However, the script came close to being torn up by Nadeem until he saved face in qualifying with his third and final throw.Chopra feels right at home in the stadium where he won Olympic gold four years ago, albeit with empty stands owing to Covid restrictions. "That Olympic gold medal changed everything for me," he said. "After winning it, I started to believe in myself."Nadeem may have pulled it out of the fire but it was not the case for another Olympic champion, Spanish triple jumper Jordan Diaz. The 24-year-old's dream of a full house of titles, he is also European champion, ended, as he pulled up with a quadriceps injury in qualifying.All the favourites in the men's and women's 200m – in which Melissa Jefferson-Wooden is bidding to become the first to achieve the individual sprint double since Shelly-Ann Fraser-Pryce in 2013 – eased into semi-finals.Joining them is 17-year-old Australian Gout Gout, of whom great things are expected. The Australia-born son of South Sudanese parents took his first experience of a global championships in his long stride. "It's a great experience for me, running against the big dogs," said Gout. After the action was followed by big crowds early in the champions, Wednesday's action attracted just shy of 36,000, leaving thousands of empty seats.

Sydney McLaughlin-Levrone smashed the long-standing United States women's 400 metre record to surge into the final at the World Athletics Championships. The 26-year-old American, who is the world record holder at the 400m hurdles but has chosen to run the flat race in Tokyo, blazed through her semi-final in 48.29sec.That was almost half a second faster than Sanya Richards-Ross's previous US record of 48.70, which had stood since 2006. McLaughlin-Levrone will be the red-hot favourite to capture her first 400m world title in tomorrow's final and said she was "honoured" to better Richards-Ross's national mark."Definitely wasn't expecting that time but it just shows the fitness is there," she said. "Excited for the finals and grateful to have taken down a record by an amazing woman."McLaughlin-Levrone was one of the stars when Tokyo hosted the Covid-delayed Olympic Games in 2021. She set a world record of 51.46sec when winning 400m hurdles gold in one of the stand-out performances of those Games. She was also part of the US 4x400m relay squad that took gold.She said she still had gas left in the tank after her semi-final performance and was taken aback when she looked at her time on the scoreboard. "I wasn't expecting that but it's not surprising because I know the work's been put in," she said. "It's really just about executing and I'm grateful that it showed me that it's there."McLaughlin-Levrone was joined in the semi-finals by Paris Olympics champion Marileidy Paulino of the Dominican Republic, who went through in a time of 49.82. Paris Games silver medallist Salwa Eid Naser of Bahrain also qualified along with Poland's Natalia Bukowiecka and Jamaica's Nickisha Pryce.Britain's Amber Anning, who qualified with a second-quickest time of 49.38, said McLaughlin-Levrone would be the woman to beat in the final. "I think she wanted to put herself into a good position going into that final," said Anning. "I just tried to stay with her as much as possible but still execute my race."

Faith Kipyegon cemented her status as an athletics legend Tuesday by winning her fourth world 1500 metres title whilst Cordell Tinch's decision to return to the sport paid off with 110m hurdles gold.The 31-year-old Kipyegon had bad news for those who entertained hopes of winning the 5000m later in the week – the Kenyan is going to try and achieve the double as she did in Budapest in 2023. Tinch was also at those championships two years ago but bowed out in the semi-finals, with Grant Holloway going onto win his third world gold.Tuesday, the roles were reversed as Holloway bowed out in the semis and 25-year-old Tinch took his crown. Not bad for someone who stepped away from the sport and five years ago was selling mobile phones and then worked in a paper factory.Sadly their golden moments were not shared by a full house, with just 37,000 in the National Stadium and that despite Japan having several athletes in action, including two in the high jump final. Just as on Monday so it was Tuesday – New Zealand and Canada won a gold apiece.Despite deafening patriotic cheers for Yuto Seko and Ryoichi Akamatsu, they had pulled on their tracksuits and were mere spectators long before New Zealand's Olympic high jump champion Hamish Kerr had added world championships gold to his collection.Canada's Ethan Katzberg retained the men's hammer title, emulating his teammate Camryn Rogers in the women's event on Monday. The mild-mannered Olympic champion, 23, recorded a new championship best, throwing 84.70 metres in the second round.Some had thought the women's 1500m might see a new generation take over in the shape of Kipyegon's 22-year-old teammate Nelly Chepchirchir. However, Kipyegon put that theory firmly in its place, and just as at the Covid-delayed Tokyo Olympics she will be bringing something gold back to her daughter."This sport drives me," said Kipyegon, who also set a new world record over the distance in Oregon in July. "I won here in 2021 (at the Olympics) just after becoming a mother, so being back here, winning again, means I can show a new gold medal to my daughter."Tinch's road back to the track was sparked by a jest made at his expense by his stepfather in 2020, but as being the new world champion sank in he had no regrets about the sabbatical. "If I hadn't taken that break from the track, I wouldn't be a world champion now," said Tinch. "Everything I learned at that time away from the sport made me the man I am and a world champion."Kerr is an entertainer and played to the crowd throughout the final, cupping his hands to his ears on the two occasions he went over on the third and final attempt. Once he had sealed victory the Kiwi ran down the infield almost as fast as compatriot Geordie Beamish's finishing winning burst in the 3,000m steeplchase on Monday. "Geordie (Beamish) gave me a kick in my backside after his win last night so I had to win too," said the 29-year-old.Katzberg said he had felt the pressure after Rogers's victory. "I can't ask for much more," he said. "Camryn (Rogers put the pressure on me to perform tonight. It was an incredible performance from her, so for Canada to win the men's hammer tonight as well is amazing."As they absorbed their victories Tinch's teenaged teammate, 800m runner Cooper Lutkenhaus, left the scene but with lessons learned. At 16 years 8 months and 28 days old he became the youngest runner to represent the United States at a world championships. But he finished seventh in his heat. "I did not feel any pressure and I really wanted to come out here and give everything," he said. "Being 16 on the world stage is very exciting. My parents and my family still see me as a 16-year-old kid."Lutkenhaus added he could now go out in Tokyo and have some fun, although reality is also biting. "I still have homework to do on this trip," he admitted.Sydney McLaughlin-Levrone meanwhile showed she could threaten the women's 400m record set four decades ago by Marita Koch. The American, running this event instead of her speciality, the 400m hurdles, practically strolled over the line in her semi-final in 48.29sec. Koch's record is 47.60sec. All eyes will be on tomorrow's final.

Hami Nepal used Discord app to mobilize protestsSudan Gurung and team propose cabinet changes, focus on youth involvementA former DJ and his obscure Nepalese non-profit used a social media app popular with video gamers to drive massive protests and become the unlikely power brokers in installing the country's new interim leadership.Sudan Gurung, the 36-year-old founder of Hami Nepal (We are Nepal), used the Discord messaging app and Instagram to mobilise massive demonstrations that forced Prime Minister K.P. Sharma Oli to resign, in the deadliest political crisis to hit the Himalayan nation in decades, a dozen people involved in the demonstrations said. The group used VPNs to access banned platforms and issued calls to action that reached tens of thousands of young people, they added. Representatives for Oli could not be contacted for comment."I was invited to join a group on Discord where there were about 400 members. It asked us to join the protest march a few kilometres from the parliament," 18-year-old student Karan Kulung Rai, who is not part of the group, told Reuters.Hami Nepal's early social media posts on Discord became so influential that they were referenced on national television.As protests grew violent, the group also identified messages it termed "fake news" and shared hospital phone numbers.Hami Nepal members, who asked not to be identified as they had used proxy names online for security reasons, said Gurung and the group's other leaders have since become central to high-stakes decisions, including the appointment of the new interim leadership till elections are held on March 5. They have already convinced the country's president and army chief to appoint former Chief Justice Sushila Karki, known for her tough stance against corruption, as Nepal's first woman prime minister in an interim capacity, three members of the group said."I will make sure that the power lies with the people and bring every corrupt politician to justice," Gurung said in his first press conference since the protest on Thursday. On Sunday, Gurung and his team were in meetings to decide key cabinet positions and were proposing that some government officials appointed by the previous administration be removed, members of Hami Nepal said."Meetings are ongoing between Karki and members of the group. We will finalise the cabinet soon," one of the members said. Gurung and Karki did not immediately respond to questions sent to their mobile phones.The "process is being carefully carried out, so that it consists of skilled and capable youth," Hami Nepal said on Instagram.Monday's protest by young adults loosely categorised as a "Gen Z" movement, as most participants were in their 20s, turned deadly within hours and rapidly brought down the government. The protests were directed at perceived government corruption and took off following a ban on multiple social media platforms - a directive that was reversed. Protesters clashed with authorities on the streets, leaving at least 72 dead and over 1,300 injured.Gurung, who is older than the Gen Z age bracket, and his team have vowed not to take up any cabinet positions but want to be part of the future decision-making."We don't want to be politicians. Sudan Gurung was only helping the 'Gen Z' group and we are only the voice of the nation and not interested in taking leadership positions," said Ronesh Pradhan, a 26-year-old volunteer for the group. Gurung, who was a DJ before he founded Hami Nepal, organised civic relief when the worst earthquake in Nepal's history killed over 9,000 people in 2015, and during the COVID-19 pandemic.Team members running the Instagram account, whose followers have swelled to over 160,000, and Discord posts alongside Gurung include 24-year-old cafe owner Ojaswi Raj Thapa and law graduate Rehan Raj Dangal.Thapa, who quickly emerged as a vocal protest movement leader, told Reuters in an interview that the judiciary was not independent and ensuring its freedom was a key priority once the interim government was put in place."We may need some changes to the constitution but we don't want to dissolve the constitution," he said on Thursday.