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Prime Minister KP Sharma Oli is returning home today after completing a four-day official visit to the People's Republic of China.

Leading the Nepali delegation, Prime Minister Oli had left for Beijing on December 2 for the China visit, at the friendly invitation of Chinese Premier Li Qiang. Prime Minister Oli and his delegation are scheduled to reach Kathmandu this afternoon.

While in Beijing, Prime Minister Oli met with Chinese President Xi Jinping, held bilateral talks and oversaw the signing of various agreements including a framework agreement on Belt and Road Cooperation in presence of his Chinese counterpart Li.

The Prime Minister also delivered a keynote speech under the theme of Comprehensive Democracy: A Journey towards ‘Prosperous Nepal, Happy Nepali’ at a program organized in Peking University in Beijing. He also addressed the 'Nepal-China Business Summit' on Wednesday.

The Nepali delegation led by Prime Minister Oli includes his spouse Radhika Shakya, Minister for Foreign Affairs Dr Arzu Rana Deuba, Chief Advisor to the Prime Minister Bishnu Prasad Rimal, Economic and Development Advisor to the Prime Minister Yubaraj Khatiwada, members of parliament, high-ranking government officials, private sector representatives and media persons.

Prime Minister KP Sharma Oli has observed that the agreements made with China during his official visit were of historical value.

PM Oli, who is currently on a China visit at the invitation of his Chinese counterpart, Li Qiang, viewed that his visit was meaningful to make Nepal-China relations broader, deeper and strengthened. He said it during a reception hosted by Nepali Embassy in Beijing today.

At a time when Nepal is moving ahead with political stability for prosperity and the developed countries like China investing and cooperating with Nepal on the latter's journey to prosperity, Nepal was planning to attract a huge number of Chinese tourists in 2025, PM Oli said, adding that he was excited after the discussion with Chinese industrialists.

The present government led by two large parties in Nepal would make utmost efforts to usher in modernism and prosperity in the country.

Similarly, Foreign Minister Arzu Rana Deuba observed PM Oli's visit had reached Nepal-China relations to a new height.

Nepali Ambassador to China, Dr Krishna Prasad Oli, viewed the PM's visit to China as fruitful to strengthen mutual trust and understanding between the two countries.

Nepal and China have reached an agreement on the Belt and Road Initiative Cooperation Framework during the PM's China visit.

Rastriya Swatantra Party (RSP) cadres have clashed with police in Chitwan today. The skirmish took place as the RSP party workers were staging a demonstration calling for the release of RSP President Rabi Lamichhane.

Eight policemen have sustained injuries in the course of the clash, said Gautam Mishra, the Superintendent of Police at the District Police Office Chitwan. The clash occurred as the demonstrators tried to block the way leading to the Government Attorney Office.

SP Mishra said the police had to use teargas and water cannons to stop the demonstrators after they started throwing stones at the police.  The injured police personnel are undergoing treatment at Bharatpur Hospital.

"Police have not used force. The eight policemen have been injured due to stones thrown by the demonstrators," SP Mishra said.

According to him, the clash ensued after the demonstrators breached the prohibited area in front of the District Police Office while calling for Lamichhane's release.

RSP Chitwan President Krishna Bhusal said 16 demonstrators have been injured in the clash and they are being treated at the Bharatpur Community Hospital, the Narayani Community Hospital, the Dev Hospital, among other health facilities.

The Government Attorney Office is recording statements of the RSP President in a case of cooperative fraud.

Police on Tuesday brought Lamichhane to Chitwan from Kathmandu to record his statement as he faces charges of misappropriating the money of depositors at the Sahara Cooperatives here.

The RSP President faces charges of siphoning off Rs 108 million from Sahara Cooperatives to Gorkha Media where he was the Managing Director.

Biratnagar Kings defeated Lumbini Lions to register their first victory under the Nepal Premier League T20 cricket tournament on Wednesday.

In the match held at Kirtipur-based TU Cricket Ground, Biratnagar won the match against Lumbini by two wickets. This is the first win of Biratnagar kings in the ongoing NPL. Earlier, they had lost two consecutive matches.

Chasing the target of 192 runs posted by Lumbini Lions, Biratnagar Kings won the match in 19.5 overs at the loss of eight wickets.

For Biratnagar's win, Lokesh contributed the highest 71 runs off 47 balls with six sixes and three fours. Similarly, Basir Ahmed scored 40 runs, Martin Guptill 28, Crish Sole 14 and Dipak Bohara nine runs.

For the bowling side, Durgesh Gupta of Lumbini took three wickets while Ramon Simmonds and Saad Bin Zafar two wickets each. Likewise, Bibek Yadav took one wicket.

Earlier, invited to bat first after losing the toss, Lumbini Lions scored 191 runs in 20 overs by losing seven wickets.

Captain Rohit Paudel scored the highest 46 runs off 29 balls with two sixes and four fours. Similarly, Tom Moores 30, Bibek Yadav 19, Arjun Saud 17, Ashutosh Ghiraiya and Saad Bin Zafar 15 runs each and Sundeep Jora 12 runs.

The Lumbini Lions had also got 29 extra runs to their total.

Prime Minister KP Sharma Oli, who is presently on a four-day official visit to China since Monday, has said Nepal is interested in welcoming investments from China.

In his address to a reception organized by the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and China Council for the Promotion of International Trade today, the Prime Minister said the atmosphere is favorable for investment in Nepal which has made its way towards an era of political stability and prosperity.

"We will facilitate the investments for realizing the national aspiration 'Prosperous Nepal, Happy Nepali'. We are committed to investment security," he said. The PM also invited Chinese investors to visit Nepal gifted by its natural beauty and seek investment opportunities.

The Prime Minister arrived in Beijing on December 2 at the Invitation of his Chinese counterpart Li Qiang. 

He is scheduled to return home tomorrow, Thursday.

Kathmandu Gurkhas defeated Karnali Yaks by three wickets  in the Siddhartha Bank Nepal Premier League (NPL) on Wednesday.

Karnali Yaks were invited to bat first after losing the toss in the match held at the Tribhuvan University (TU) Cricket Ground in Kirtipur. They posted a total of 149 runs for the loss of five wickets in 20 overs. In response, Kathmandu Gurkhas chased down the 150-run target in 19.3 overs, losing seven wickets.

Sumit Maharjan remained not out on 40. He faced 37 balls, hitting three boundaries and one six. Gerhard Erasmus also contributed 38 runs off 28 balls, including three boundaries and two sixes. Captain Karan KC made 28 runs off 10 balls, hitting two boundaries and two sixes. Michael Levitt added 22 runs, including two boundaries and one six.

Sompal Kami, Nandan Yadav, Gulshan Jha, Zeeshan Maqsood, and Bipin Sharma each took one wicket for Karnali Yaks.

Earlier, for Karnali Yaks, Shikhar Dhawan scored an impressive 72 not out off 51 balls, including four boundaries and five sixes. Chadwik Walton made 21 runs off 15 balls, hitting five boundaries, while Babar Hayat contributed 13 runs off 18 balls. Gulshan Jha scored 12 runs off 19 balls, and Zeeshan Maqsood added 14 runs off 11 balls.

Towards bowling, Gerhard Erasmus of Kathmandu Gurkhas took two wickets. Nathan Sowter, Dipesh Kandel, and captain Karan KC each claimed one wicket.

Consumers often face challenges in obtaining timber for construction and other purposes due to unavailability at the required time. However, in Nawalpur district, timber worth millions has rotted and become unusable. Despite being cut on time, the timber could not be utilized due to complex forest-related laws.

Forest Officer Shishir Lamsal explained that delays in processing and handing over the timber have caused it to lose its value. Timber cut for various projects and community purposes has been left to rot. “When auctions are called, contracts often remain unsigned. Even in cases where contracts are signed, contractors sometimes fail to collect the timber, leading to its deterioration,” Lamsal said.

According to the Divisional Forest Office, Nawalpur, 78,235 cubic feet of timber are now in need of re-evaluation. At official rates, this timber is valued at over Rs 800m, but at current market prices of Rs 3,000 to Rs 4,000 per cubic foot, its value could exceed Rs 2bn. Much of this timber, some of which has been lying unused since 2017, is now unusable.

Chief Divisional Forest Officer Basanta Keshav Adhikari noted that delays in timber handovers by projects like the Narayangarh-Bhairahawa road project exacerbated the problem. “Timber from the project was handed over late, leading to its loss of value. Consumers are hesitant to invest in timber now, as the market is not economically favorable,” Adhikari said.

Repeated attempts to auction the timber have failed, with no contracts signed despite three calls. The forest office has written to the ministry requesting re-evaluation. Section 89 of the Gandaki Province Forest Act, 2023, allows for the re-evaluation of deteriorated and rotted timber. However, out of 83,673 cubic feet of timber cut during the Butwal-Narayanghat road expansion, 46,198 cubic feet remain unsold and unusable.

Forest Officer Lamsal emphasized that delays in project handovers have worsened the situation. “Some timber was handed over as recently as two or three months ago, but delays meant it had already deteriorated,” he said. According to the forest office, there is currently 114,086 cubic feet of timber in Nawalpur district.

Bishwa Bagale, a central member of the Timber Traders Association, criticized the handling of timber contracts. “Contracts should have been initiated one and a half years in advance to prevent this deterioration, but that didn’t happen. Now, entrepreneurs are reluctant to take up contracts for damaged timber. The price of deteriorated wood should be reduced, and new contracts should be called,” Bagale suggested. He estimated that less than 20 percent of the timber remains usable.

Meanwhile, consumers seeking timber from the forest office are returning empty-handed. Despite having timber in stock, the office is unable to distribute it due to the lack of an approved work plan. “The District Forest Products Supply Committee distributes timber, but we are not in a position to provide it at the moment,” said the chief officer. Four and a half months after the end of the fiscal year, the Gandaki Province Ministry of Forests has yet to approve the work plan for timber distribution, further delaying the process.

The Nepal Stock Exchange (NEPSE) plunged by 24. 97 points to close at 2,750.87 points on Wednesday.

Similarly, the sensitive index dropped by 2. 18 points to close at 469.03 points.

A total of 20,332,066-units of the shares of 320 companies were traded for Rs 9. 13 billion.

Meanwhile, Khanikhola Hydropower Co. Ltd. (KKHC) was the top gainer today with its price surging by 9. 99 percent. Likewise, Support Microfinance Bittiya Sanstha Ltd. (SMB) and Life Insurance Corporation (Nepal) Limited (LICN) were the top losers as their price fell by 5. 44 percent.

At the end of the day, the total market capitalization stood at Rs 4. 56 trillion.