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The U.S. economy contracted for the first time in three years in the first quarter, swamped by a flood of imports as businesses raced to avoid higher costs from tariffs and underscoring the disruptive nature of President Donald Trump's often chaotic trade policy, Reuters reported.

The Commerce Department's advance gross domestic product (GDP) report on Wednesday, however, grossly exaggerated the economy's fading prospects. Though consumer spending slowed considerably from the fourth quarter, the pace of growth remained healthy. Businesses also boosted investment in equipment, mostly information processing and transportation.

Nonetheless, both consumer and business spending likely reflected front-loading before the import duties kicked in. As such, the report reinforced Americans' growing disapproval of Trump's handling of the economy as he marks 100 days in office.

Trump swept to victory last November on voter angst over the economy, especially inflation. Consumer confidence is near five-year lows and business sentiment has tanked, while airlines have pulled their 2025 financial forecasts, citing uncertainty over spending on nonessential travel because of tariffs, which economists said will raise costs for companies and households, according to Reuters.

Ukraine and the U.S. on Wednesday signed a deal heavily promoted by U.S. President Donald Trump that will give the United States preferential access to new Ukrainian minerals deals and fund investment in Ukraine's reconstruction, Reuters reported.

The two countries signed the accord in Washington after months of sometimes fraught negotiations, with uncertainty persisting until the last moment with word of an eleventh-hour snag.

The accord establishes a joint investment fund for Ukraine's reconstruction as Trump tries to secure a peace settlement in Russia's three-year-old war in Ukraine.

The agreement is central to Kyiv's efforts to mend ties with Trump and the White House, which frayed after he took office in January, according to Reuters.

U.S. Treasury Secretary Scott Bessent and Ukrainian First Deputy Prime Minister Yulia Svyrydenko were shown signing the agreement in a photo posted on X by the Treasury, which said the deal "clearly signals the Trump Administration's commitment to a free, sovereign, prosperous Ukraine."

Nagarik Unmukti Party patron Resham Chaudhary, who was arrested this afternoon, has been released.

Chaudhary was arrested based on the 'unofficial letter' written by an officer of the Judgment Execution Directorate under the Supreme Court, Mahiman Singh Bista.

He was released after the SC informed that the letter was an unofficial one, said Spokesperson at the District Police Range, Kathmandu, and Superintendent of Police, Apil Raj Bohara. 

Clearing the uncertainty, the SC had sent a letter to the Central Jail, Dillibazaar, to release Chaudhary. 

Bohara added Chaudhary has been released, while officer Bista has been arrested in connection with the issuance of an unauthorized letter that led to Chaudhary's arrest.

Chaudhary was arrested from Nepal Academy premises at a time when he was going to attend a party unification program between the Janamat party and the Nagarik Unmukti Party.

Foreign Department Chief of Bharatiya Janata Party (BJP), Bijay Chauthaiwale, met Home Minister Ramesh Lekhak today.

BJP leader Chauthaiwale, who is currently on a Nepal visit, met Home Minister Lekhak at Singh Durbar. 

On the occasion, Minister Lekhak condemned the recent terrorist attack in Jammu-Kashmir of India and made it clear that Nepal government is against terrorist attack. He held talks with the visiting leader to strengthen Nepal-India relations, which are cordial and subsisting for long.

BJP leader Chaudhaiwale also expressed belief that relations between the two countries would be further strengthened.  "Nepal-India relations are firm and no issue can strain the friendly relations," he said, expressing condolence to the family members of a Nepali youth who was killed in the terrorist attack in Kashmir.

He further said BJP would cooperate fully to consolidate Nepal's democracy.

President Ram Chandra Paudel appointed Kham Bahadur Garbuja, a House of Representatives member, as the Minister of State for Energy, Water Resources and Irrigation on Wednesday.

The appointment was made in accordance with the recommendation made by Prime Minister KP Sharma Oli, said the President's Office.

A series of dialogue held between the government and the agitating teachers concluded in a nine-point agreement on Wednesday, thereby ending the 28-day-long Kathmandu centric agitation of the public school teachers. 

With this, the Nepal Teachers' Federation urged all agitating teachers to go back to the respective schools and begin academic session from Thursday.

Following the agreement between the government and the Teachers' Federation, Minister for Education, Science and Technology, Raghuji Pant, informed that all teachers and school employees would be provided discount during treatment at Civil Hospital, Kathmandu.

The teachers working in temporary category- relief quota, learning grant, technical stream, special education, among others- will be allowed sick leave reserves, which (remuneration) would be provided in lump sum upon retirement. 

The remuneration to the early child development facilitator and school employees will be provided as per government scheme, the grade system to the permanent teachers will be aligned with civil service's grade system.

Both permanent and temporary teachers of various categories will be provided remote allowance, and the teachers and employees at community schools will be linked to the Social Security Fund. The teachers will be included in the list of official hierarchical portfolio. Agreement was also made on managing grades of first class lower secondary and second class secondary school teachers. 

Moreover, the teachers, security persons, employees and journalists injured during the protest would be provided treatment for free of cost.

The agreement was endorsed by the meeting of the Council of Ministers held on Wednesday itself. 

Minister Pant thanked teachers for the agreement that they would call off protest and return schools from Thursday.  He also thanked all others cooperating to this end.

Following the agreement, Chairman of the Teachers' Federation, Laxmi Kishor Subedi, also urged all agitating teachers to return respective schools and begin teaching learning and conduct exams. He thanked government, political parties, media persons and others for extending support to the teacher's demands.

He reiterated on timely enforcement of the agreement. 

The new education bill will be passed by the federal Parliament before mid June as per agreement. The agreement relating to the new bill was also signed by the chief whips of the major political parties and the Parliament committee on education, health and IT.

Earlier, the teachers gathered in thousands from across the country consistently demonstrated in the New Baneshwor to Babarmahal section of the Kathmandu Valley, posing various demands including the introduction of a new National School Education Act.

The teachers who even adopted various artistic ways of posing demands and criticizing sheer delay in government's proper response to them clashed with security forces, causing injuries in the ultimate days.

Kolkata Knight Riders (KKR) produced a tremendous comeback and defeated Delhi Capitals (DC) by 14 runs in a thrilling showdown at the Arun Jaitley Stadium on Tuesday.

Batting first Kolkata piled a stiff 204/9 in 20 overs.

Delhi in response got off to a shaky start before Faf du Plessis and Axar Patel dug deep to shift the momentum. Despite their impressive efforts, combined with Vipraj Nigam's late show, Delhi fell short and managed 190/9 in the end.

International Jazz Day is being observed by organizing various programs on Wednesday.

In western countries, the music is popular among the youth. In November 2011, the United Nations Educational, Scientific and Cultural Organization (UNESCO) General Assembly declared April 30 as the International Jazz Day. 

The day is celebrated to promote intercultural dialogue, respect for human rights and human dignity, eradicate discrimination, promote freedom of expression and gender equality, and strengthen the role of youth for social change. 

UNESCO believes that the International Day will provide an opportunity for communities, schools, artists, historians, academics and jazz enthusiasts around the world to learn about the art of jazz, its origins, future and effects and contribute to the promotion of international peace and culture. 

According to UNESCO, jazz will contribute to creating opportunities for unity, mutual understanding and tolerance, empowering young people from marginalized societies, and encouraging traditional music to be revitalized in a newer form.