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          February 12, 2020- India, which restricted imports of refined palm oil and palmolein in January, has exempted Nepal and has started issuing licences to import some refined palmolein from the Himalayan nation, two government officials told Reuters.

          The move could put pressure on Indian refiners as imports from Nepal were allowed at zero duty under a regional treaty. It will also help Nepal, as refined palm oil and palmolein are its largest export earners. The initiative may also help India counter the growing influence of China in Nepal, where Chinese investments have been climbing.

          Licences to import around 88,000 tonnes of refined bleached deodorised palm olein from Nepal were issued to about half a dozen importers, said a Kolkata-based official at India’s Directorate General of Foreign Trade (DGFT).

          India had restricted imports of refined palm oil and palmolein in January, a move that targeted top supplier Malaysia, which had criticised New Delhi’s new citizenship law and its policies in Kashmir, but which also hurt Nepal.

          Kathmandu has been urging New Delhi to allow imports of refined palm oil and palmolein. “We have made an exception with Nepal. Refined palm oil imports are not allowed from any other country,” said another DGFT official.

          Source: The Himalayan Times

          Corporate News

          India makes exemption for Nepal, allows some refined palmolein imports

          February 12, 2020- India, which restricted imports of refined palm oil and palmolein in January, has exempted Nepal and has started issuing licences to import some refined palmolein from the Himalayan nation, two government officials told Reuters.

          Read more ...

          HIDCL, Power China to build 762MW Tamor reservoir project

          Kathmandu, September 16- The Hydroelectricity Investment and Development Company Ltd (HIDCL) and state-owned Power China Corporation have jointly submitted a project development proposal at the Investment Board Nepal (IBN) to build the 762-megawatt Tamor reservoir project, which will cover Panchthar, Taplejung, Terhathum and Sankhuwasabha districts.

          Read more ...

          Security audit of BFIs compulsory

          Kathmandu, September 10- Nepal Rastra Bank (NRB) has made it mandatory for banks and financial institutions (BFIs) to conduct an audit of their information and technology (IT) system.

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          Age limit set for CEOs, directors at BFIs

          KATHMANDU: Nepal Rastra Bank has set an age bar for board of directors and chief executive officers of banks and financial institutions (BFIS).

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