Search
00
GBAF Logo
trophy
Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking and Finance Review

Global Banking & Finance Review

Company

    GBAF Logo
    • About Us
    • Profile
    • Privacy & Cookie Policy
    • Terms of Use
    • Contact Us
    • Advertising
    • Submit Post
    • Latest News
    • Research Reports
    • Press Release
    • Awards▾
      • About the Awards
      • Awards TimeTable
      • Submit Nominations
      • Testimonials
      • Media Room
      • Award Winners
      • FAQ
    • Magazines▾
      • Global Banking & Finance Review Magazine Issue 79
      • Global Banking & Finance Review Magazine Issue 78
      • Global Banking & Finance Review Magazine Issue 77
      • Global Banking & Finance Review Magazine Issue 76
      • Global Banking & Finance Review Magazine Issue 75
      • Global Banking & Finance Review Magazine Issue 73
      • Global Banking & Finance Review Magazine Issue 71
      • Global Banking & Finance Review Magazine Issue 70
      • Global Banking & Finance Review Magazine Issue 69
      • Global Banking & Finance Review Magazine Issue 66
    Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
    Copyright © 2010-2025 GBAF Publications Ltd - All Rights Reserved.

    Editorial & Advertiser disclosure

    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Home > Headlines > From parliament to luxury hotels, Nepal's protest movement targeted the elite
    Headlines

    From parliament to luxury hotels, Nepal's protest movement targeted the elite

    From parliament to luxury hotels, Nepal's protest movement targeted the elite

    Published by Global Banking and Finance Review

    Posted on September 11, 2025

    Featured image for article about Headlines

    By Emily Schmall

    KATHMANDU (Reuters) -As protesters in Nepal stormed parliament this week forcing the prime minister to quit, luxury hotels and residences were attacked by arsonists amid anger at the lavish lifestyle of the elites in one of the world's poorest countries.

    The demonstrations, popularly referred to as the "Gen Z" protests as most participants were in their teens or early 20s, have triggered Nepal's worst upheaval in years, forcing unpopular leader K.P. Sharma Oli to resign on Tuesday, a day after 19 protesters were killed in violence.

    The death toll has since risen to 34 and more than 1,300 were injured, Nepal's health ministry said.

    Leaders of the Gen Z protest movement distanced themselves from the arson attacks blaming infiltrators, but analysts point to mounting frustration at wealth inequality in Nepal and at perceived corruption within Nepal's political leadership.

    While the parliament, the prime minister’s office and the Supreme Court were still burning, arsonists also attacked five-star hotels, including the Hilton, the Hyatt Regency and Varnabas Museum Hotel.

    The Hyatt Regency, a sprawling property near Boudhanath Stupa, among the most important Buddhist sites in Nepal and a draw for tourists, was damaged by protesters, Bhushan Rane, the hotel's front office manager, told Reuters.

    No guests or staff were injured, Rane added. Due to the political unrest, the hotel will remain closed until further notice. 

    Tourism is the lifeblood of Nepal's economy.

    The Hilton Hotel, a five-star glass tower, was also torched, sending black plumes of smoke into the sky. The Kathmandu Hilton was opened last year by Shahil Agrawal, the scion of a Nepalese steelmaking business-turned-conglomerate, the Shanker Group.

    A Hilton spokesperson said the property had been closed following damage sustained during the protests and guests and staff were safely evacuated. A full assessment of the building would be undertaken, the statement said.

    The homes of politicians including Oli were also attacked.

    INEQUALITY

    The Gen Z movement has gained traction in recent months rallying around posts on TikTok, Instagram and other social media sites that purportedly show the children of Nepal's political leaders enjoying a lavish lifestyle, from designer clothes to pricey vacations.

    Meanwhile, thousands of mainly young people leave Nepal every day, in search of economic opportunity in the Middle East, Malaysia, South Korea and elsewhere.

    "That is the frustration of the common people," said Balaram K.C., a retired justice of the Supreme Court and a constitutional expert.

    "You people who are supposed to run the country in an honest way, you are taking care of yourself and your relatives and no one else," he said.

    Rajendra Bajgain, a Nepali Congress party lawmaker, said on Thursday that his luxury hotel, Varnabas Museum, had also been targeted in an arson attack and guests were safely evacuated.

    After the deaths of demonstrators, Bajgain announced his intention to step down from parliament and said he was sympathetic to the Gen Z protesters.

    "It has mounted for quite some time this kind of dissatisfaction in Nepal with the corruption," he said.

    (Additional reporting by Hritam Mukherjee; Editing by Sanjeev Miglani, Alexandra Hudson)

    Related Posts
    Novartis, Roche back US efforts to lower drug costs amid talk of pricing deal
    Novartis, Roche back US efforts to lower drug costs amid talk of pricing deal
    Saudi, French and U.S. officials push Hezbollah disarmament plan
    Saudi, French and U.S. officials push Hezbollah disarmament plan
    Russia sentences Briton who it says fought for Ukraine to 13 years in a prison camp
    Russia sentences Briton who it says fought for Ukraine to 13 years in a prison camp
    Ukrainian negotiators to meet US team on Friday, Saturday, Zelenskiy says
    Ukrainian negotiators to meet US team on Friday, Saturday, Zelenskiy says
    Court hearing adjourned in strangulation case involving UK's Duke of Marlborough
    Court hearing adjourned in strangulation case involving UK's Duke of Marlborough
    Ukraine says 180,000 consumers were left without power after Russian overnight attack
    Ukraine says 180,000 consumers were left without power after Russian overnight attack
    China says it is granting new, streamlined rare earth export licences
    China says it is granting new, streamlined rare earth export licences
    Romania to raise minimum wage by 6.8% from July
    Romania to raise minimum wage by 6.8% from July
    Coinbase appoints UK ex-finance minister George Osborne to run advisory council
    Coinbase appoints UK ex-finance minister George Osborne to run advisory council
    EU must reform or risk irrelevance, Blair and Dimon say
    EU must reform or risk irrelevance, Blair and Dimon say
    Russian attack on Ukraine's central Cherkasy injures six, causes blackouts, governor says
    Russian attack on Ukraine's central Cherkasy injures six, causes blackouts, governor says
    Europe's auto industry future may be electric even after EU climbdown
    Europe's auto industry future may be electric even after EU climbdown

    Why waste money on news and opinions when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe

    More from Headlines

    Explore more articles in the Headlines category

    Factbox-Can Ukraine survive without the EU's 'reparation loan'?

    Factbox-Can Ukraine survive without the EU's 'reparation loan'?

    EU leaders face crunch decision on using frozen Russian assets for Ukraine

    EU leaders face crunch decision on using frozen Russian assets for Ukraine

    Analysis-Return of 'Make Europe Great Again' trades hinges on German comeback

    Analysis-Return of 'Make Europe Great Again' trades hinges on German comeback

    Belarus' Lukashenko says US admission of failure to overturn re-election could revive relations

    Belarus' Lukashenko says US admission of failure to overturn re-election could revive relations

    Ukrainian drones kill three people in Russia's Rostov region, authorities say

    Ukrainian drones kill three people in Russia's Rostov region, authorities say

    Shares in South Korea's LGES drop more than 7% after Ford cancels EV battery deal

    Shares in South Korea's LGES drop more than 7% after Ford cancels EV battery deal

    Factbox-What we know about the shooting victims at Sydney's Bondi Beach Jewish event

    Factbox-What we know about the shooting victims at Sydney's Bondi Beach Jewish event

    Australia promises new hate laws as youngest Bondi Beach shooting victim is laid to rest

    Australia promises new hate laws as youngest Bondi Beach shooting victim is laid to rest

    UN, aid groups warn Gaza operations at risk from Israel impediments

    UN, aid groups warn Gaza operations at risk from Israel impediments

    IMF says Moldova's economy has unique growth opportunity, but reforms needed

    IMF says Moldova's economy has unique growth opportunity, but reforms needed

    UK firm Awendio Solaris plans $725 million solar plant with indigenous groups in Canada

    UK firm Awendio Solaris plans $725 million solar plant with indigenous groups in Canada

    AbbVie, several other pharma companies near MFN deal with Trump, sources say

    AbbVie, several other pharma companies near MFN deal with Trump, sources say

    View All Headlines Posts
    Previous Headlines PostZelenskiy says he asked Trump last year for long-range weapons if Russia rejects ceasefire
    Next Headlines PostExclusive-Germany's army needs to more than double in size, commander says