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President Ram Chandra Poudel has appointed Lieutenant General Ashok Raj Sigdel as the acting chief of the Nepal Army.

Sigdel has been appointed as the acting chief as the Incumbent Chief of Army Staff Prabhuram Sharma will retire after his three-year term comes to an end on September 9. There is a provision that the Chief of Army Staff goes on leave for one month before retirement.

Lieutenant General Sigdel has been designated as the acting chief, on the recommendation of the Council of Ministers on the basis of seniority, with effect from August 9, according to a statement issued by the spokesperson of the Office of the President, Shailaja Regmi Bhattarai.

The Millennium Challenges Account Nepal Development Committee (MCA-Nepal) has contracted an Indian company for the construction of a 400KV substation at Damauli, Tanahun. Techno Electric and Engineering Ltd was contracted for the construction of a 400KV substation at the cost of USD 38.89 million.

With this, contracts for all three substations of 400 KV each have been made under the MCC Nepal Compact.

Executive Director at MCA-Nepal, Khadga Bahadur Bista, and Trade Director of Techno Electric and Engineering Ltd, Rajiv Agrawal, signed the contract amidst a function attended by Minister for Energy, Water Resources and Irrigation, Deepak Khadka, and the US Ambassador to Nepal, Dean Thompson, in Kathmandu on Wednesday.

Addressing the program, Energy Minister Khadka viewed that the contract for the construction of the substation would reinforce the electricity distribution system, thereby paving a way for the economic prosperity of the country. Contracts for all three substations are made. He called on all stakeholders concerned to make rigorous efforts for the timely completion of the project.

Chair of the MCA-Nepal Board of Directors and Secretary at the Finance Ministry, Dr Ram Prasad Ghimire, said, "It is good progress that MCA Nepal made for the enforcement of the MCC-Nepal compact. These three substations are significant for expanding the energy regime of Nepal, which would be a backbone of economic developments."

Ghimire further observed that the construction of the substations would not only spur industrial and trade activities but also contribute to sustainable power supply.

Similarly, Ambassador Thompson said, "I highly appreciate the roles of the all- Nepal government, Finance Ministry, Energy Ministry, NEA, and MCA-Nepal- for the collaborative approach to ensure progress in the project which helps build a prosperous future for the Nepalis."

The MCC-Nepal Compact is a strong support for ensuring electricity to every house via inclusive and sustainable economic development, contributing additional power to the national economy, and creating jobs and reducing poverty, according to Thompson.

Moreover, Executive Director Bista said it was a milestone to complete signing of three substations to be developed under the project within a year of the project in effect.

With the completion of the present Damauli substation, it will be a vital infrastructure for the transmission of electricity from Ratmate, Lekhnath and New Butwal Substation.

The MCC-Nepal Compact has been extending financial support to build three substations under the project to ensure power supply in the 314-km distance that reaches the border to India- from Lapsephedi of Kathmandu to Bardaghat Susta, Nawalparasi.

Chinese Ambassador to Nepal Chen Song has paid a courtesy call on Minister for Industry, Commerce and Supplies Damodar Bhandari today.

In the meeting held at the Ministry in Singha Durbar, Minister Bhandari said the relations between Nepal and People's Republic of China were very close historically, politically and culturally.

He asserted, "I feel that the people-to-people relations and mutual cooperation between the two countries have further expanded the dimensions of Nepal-China relations. I would like to make it clear that the Government of Nepal is committed to One-China Policy and is determined not to allow its land to be misused for any kind of anti-China activities."

Citing the high-level visits exchanged between the two countries in the recent years to further bolster bilateral ties, he assured that Nepal was committed to contribute towards China's peace, stability and development.

The minister acknowledged China as an important and credible development partner to Nepal for its socio-economic development.

"China is the second biggest partner of Nepal in the field of trade while it is the first investor in field of Foreign Direct Investment," he said, lauding the important role played by China in Nepal's bid to development especially in the areas of trade, infrastructures, connectivity, energy, agriculture and industrial development, among others.

He mentioned that the volume of trade between the two countries has increased significantly after the re-operation of border checkpoints.  Minister Bhandari, however, lamented that although China is Nepal's second biggest partner in trade, there was a huge gap between imports and exports.

He said that his Ministry was eager to develop trade related infrastructures, upgrade transportation systems, reform the customs services and modernize the logistic system and expressed his confidence that bilateral trade could be significantly enlarged through China's specialization and benefits from investment.

He also expressed his confidence that the dry port, under-construction in support of the Chinese government at Timure in Rasuwa, would be completed within the stipulated deadline.

The minister was also hopeful towards the earliest implementation of the principal agreement signed between Nepal and China to develop infrastructures at Korala of Mustang.

He apprised the Chinese envoy that the exploration of petroleum products in Dailekh being undertaken in Chinese government's support was being accelerated.

Recalling the encouraging participation of Chinese investors in the third Investment Summit organized by the government of Nepal last April, he believed that more Chinese investment would be attracted in Nepal in the coming days.

He also admitted that he was very excited to coordinate efforts with the Chinese government to expand the market of Nepali products in China.

In response, Chinese Ambassador Song reaffirmed his commitment towards further expanding Nepal-China mutual relations thereby creating a friendly environment.

Stating that China had been a development and trade partner to Nepal, he shared that he has been working towards creating an enabling environment for cooperation by holding interactions with concerned Ministries including the Ministry of Industry, Commerce and Supplies.

A total of 172 people lost their lives to road accidents in the last fiscal year 2023/24 in Sudurpaschim Province.

Among them, 137 were male, 23 were female and 12 children, according to the Nepal Police's Highway Safety and Traffic Management Office, Attariya.

Spokesperson of the Office, DSP Anil Kumar Uprety shared that 536 were injured in the 309 road accidents in the same period. Among the vehicles meeting with the accidents, motorcycle related accidents were the highest at 207 followed by jeep/car at 40, bus at 24, tempo at 17, truck and tanker at 19, tipper at 9, micro bus 7, dozer at 3 and other types of vehicles.

The office has been organizing various awareness programs to sensitize people about traffic rules and road safety, said DSP Uprety, adding that 6,626 awareness programs and campaigns launched last fiscal year had benefitted 389,266.

The Office also took action against 73,479 drivers flaouting traffic rules. Traffic police collected over Rs 48.8 million in revenue from the fine slapped on the erring drivers, informed DSP Uprety.

In the previous fiscal year, 177 people died in 255 road accidents leaving 473 injured, it was shared.

The Nepal Stock Exchange (NEPSE) gained 64. 25 points to close at 2,760.90 points on Wednesday.

Similarly, the sensitive index surged by 10.65 points to close at 496. 03 points.

A total of 50,967,951-unit shares of 332 companies were traded for Rs 21. 91 billion.

Meanwhile, United Ajod Insurance Limited (UAIL), Gurkhas Finance Ltd. (GUFL), Shree Investment Finance Co. Ltd. (SIFC), Reliance Finance Ltd. (RLFL) and Dibyashwori Hydropower Ltd. (DHPL) were the top gainers today, with their price surging by 10. 00 percent.

Likewise, Civil Bank Debenture 2088 (CBLD88) was the top loser as its price fell by 7.92 percent.

At the end of the day, total market capitalization stood at Rs 4. 38 trillion.

Police have arrested a person for teasing and abusing an air hostess in the aircraft of Shree Airlines heading to Dhangadhi from Kathmandu.

Airport police apprehended Shivaraj Ojha of Godawari Municipality-1, Kailali on Tuesday and handed over to the District Police Office, Kailali.

Police nabbed him soon after he landed at the Dhangadhi airport.

As many as 55 people have gone missing with 21 vehicles plunging into the Trishuli river from the Narayangadh-Muglin section and the Muglin-Mauwakhola section of the Prithvi Highway in the last eight years.

Among those missing is former Home Minister and Foreign Affairs Minister Madhav Prasad Ghimire.

The District Traffic Police Office stated that five vehicles went missing in the river in Fiscal Year 2016/17, four vehicles in FY 2017/18, four vehicles in FY 2018/19, one each in FY 2019/ 2020, FY 2020/ 21 and FY 2021/ 22 and five in FY 2022/23.

Fourteen people went missing in the missing vehicles in FY 2016/ 17, four people in FY 2021/ 22 and 37 people in FY 2023/ 24. Sixty-six vehicles met with accidents in the road sections during that period.

Among the vehicles that met with accidents on the road sections from FY 2016/ 17 to 2023/ 24 include 40 trucks, nine buses, 12 cars, three motorbikes and two other vehicles, according to the District Traffic Police Office.

The price of gold has increased by Rs 1, 800 per tola in the domestic market on Wednesday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the precious yellow metal is being traded at Rs 147, 800 per tola today. It was traded at Rs 146, 000 per tola on Tuesday.

Similarly, tejabi gold is being traded at Rs 147, 100 per tola.

Meanwhile, the price of silver has increased by Rs 40 and is being traded at Rs 1, 780 per tola today.