September 29, Kathmandu- The board of Directors of Nepal Lube Oil Limited(NLO) Has proposed 10% cash dividend to its shareholders from the profit fiscal year 2076/77.

Dividend proposed shall be distributed after its approval from Its Annual General Meeting (AGM).

It has also announced date for its 29th AGM which will held on Kaetik 05, 2077. For the AGM, book closure date is from Aswin 22 to Kartik 05. As per the information AGM will discuss on increasing its paid up capital from Rs. 3 crore to Rs.5 crore.

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.

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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.

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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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