In a landmark verdict, Nepal's Supreme Court on Monday directed President Bidya Devi Bhandari to appoint Nepali Congress chief Sher Bahadur Deuba as prime minister by Tuesday and reinstated the dissolved House of Representatives for a second time in five months.

A five-member Constitutional Bench of the Supreme Court led by Chief Justice Cholendra Shumsher Rana issued the verdict stating that President Bhandari's decision to dissolve the lower house upon a recommendation of Prime Minister K P Sharma Oli was an unconstitutional act, delivering a major blow to the veteran Communist leader, who was preparing for snap polls.

The bench issued a mandamus to appoint Deuba as the Prime Minister by Tuesday. Deuba, 74, has served as the prime minister on four occasions.

The court also ordered summoning new session of House of Representatives at 5 PM on July 18.&nbsp;

Chief Justice Rana also said that the bench has concluded that party whip does not apply when lawmakers take part in the voting to elect new Prime Minister as per Article 76(5) of the Constitution.

The bench comprising four other senior most justices, Dipak Kumar Karki, Mira Khadka, Ishwar Prasad Khatiwada and Dr Ananda Mohan Bhattarai, had concluded hearings in the case last week.

President Bhandari had dissolved the 275-member lower house for the second time in five months on May 22 at the recommendation of Prime Minister Oli and announced snap elections on November 12 and November 19.

In a landmark verdict, Nepal's Supreme Court on Monday directed President Bidya Devi Bhandari to appoint Nepali Congress chief Sher Bahadur Deuba as prime minister by Tuesday and reinstated the dissolved House of Representatives for a second time in five months.

In a landmark verdict, Nepal's Supreme Court on Monday directed President Bidya Devi Bhandari to appoint Nepali Congress chief Sher Bahadur Deuba as prime minister by Tuesday and reinstated the dissolved House of Representatives for a second time in five months. A five-member Constitutional Bench of the Supreme Court led by Chief Justice Cholendra Shumsher Rana issued the verdict stating that President Bhandari's decision to dissolve the lower house upon a recommendation of Prime Minister K P Sharma Oli was an unconstitutional act, delivering a major blow to the veteran Communist leader, who was preparing for snap polls. The bench issued a mandamus to appoint Deuba as the Prime Minister by Tuesday. Deuba, 74, has served as the prime minister on four occasions. The court also ordered summoning new session of House of Representatives at 5 PM on July 18. Chief Justice Rana also said that the bench has concluded that party whip does not apply when lawmakers take part in the voting to elect new Prime Minister as per Article 76(5) of the Constitution. The bench comprising four other senior most justices, Dipak Kumar Karki, Mira Khadka, Ishwar Prasad Khatiwada and Dr Ananda Mohan Bhattarai, had concluded hearings in the case last week. President Bhandari had dissolved the 275-member lower house for the second time in five months on May 22 at the recommendation of Prime Minister Oli and announced snap elections on November 12 and November 19.

Nepal's apex court orders appointment of Deuba as prime minister; reinstates dissolved lower house

Singapore's third derivatives exchange kicked off trading&nbsp;on Friday&nbsp;with the launch of palm oil futures, as the largely China-backed bourse looks to get a foothold in the region in preparation for other contracts down the line.

The Asia Pacific Exchange (APEX) hopes the US&nbsp;dollar-denominated palm olein futures will give traders another option beyond benchmark ringgit-denominated contracts and is touting the market as a place for Southeast Asian sellers and other international players to get access to Chinese buyers.

"Right now, China's market is more domestic, we are trying to bring out the Chinese market to international players," APEX's Chief Executive Eugene Zhu told reporters after the launch.

APEX's September palm olein futures contract opened at $635 a tonne and was last down 0.3 percent. A November contract was up 1.7 percent after opening at $650 a tonne.

"Traded volume in the first half-hour seems very good, but we need to see if this is just first-day euphoria or if the market can sustain," said a palm oil futures trader in Kuala Lumpur. He declined to be identified as he was not authorised to speak with media.

Under the contracts, palm olein is for physical delivery, on a Free on Board (FOB) basis, at Pasir Gudang and Port Klang in Malaysia, while in Indonesia, it is for delivery at Belawan and Dumai ports. Those two countries produce nearly 90 percent of the world's palm oil, used to churn out products ranging from chocolate to soap.

APEX's major shareholders include Chinese conglomerate CEFC China Energy, Chinese futures commission merchant Xinhua Group and other international investment funds.

China is the world's No.2 buyer of palm oil, with the commodity comprising about 70 percent of its edible oil imports.

Zhu, the former head of the Dalian Commodity Exchange (DCE), said the palm futures would complement other exchanges in the region.

"There will arbitrage opportunities and it will help to generate more volumes for all the exchanges," Zhu said.

The benchmark palm oil contract on the Bursa Malaysia Derivatives Exchange was trading down 1.1 percent&nbsp;on Friday, while the most-active palm olein contract on the DCE had eased slightly.

Bursa Malaysia launched dollar-denominated crude palm oil and palm olein contracts over the last decade, but Kuala Lumpur-based traders said trading volumes for both contracts are close to zero due to a lack of market makers.

APEX plans to offer other futures and options based on commodities from sectors including agriculture, energy, petrochemicals and metals, as well as on interest rates and stock indices.

'Right now, China's market is more domestic, we are trying to bring out the Chinese market to international players,' APEX's Chief Executive Eugene Zhu said

Singapore's third derivatives exchange kicked off trading on Friday with the launch of palm oil futures, as the largely China-backed bourse looks to get a foothold in the region in preparation for other contracts down the line. The Asia Pacific Exchange (APEX) hopes the US dollar-denominated palm olein futures will give traders another option beyond benchmark ringgit-denominated contracts and is touting the market as a place for Southeast Asian sellers and other international players to get access to Chinese buyers. "Right now, China's market is more domestic, we are trying to bring out the Chinese market to international players," APEX's Chief Executive Eugene Zhu told reporters after the launch. APEX's September palm olein futures contract opened at $635 a tonne and was last down 0.3 percent. A November contract was up 1.7 percent after opening at $650 a tonne. "Traded volume in the first half-hour seems very good, but we need to see if this is just first-day euphoria or if the market can sustain," said a palm oil futures trader in Kuala Lumpur. He declined to be identified as he was not authorised to speak with media. Under the contracts, palm olein is for physical delivery, on a Free on Board (FOB) basis, at Pasir Gudang and Port Klang in Malaysia, while in Indonesia, it is for delivery at Belawan and Dumai ports. Those two countries produce nearly 90 percent of the world's palm oil, used to churn out products ranging from chocolate to soap. APEX's major shareholders include Chinese conglomerate CEFC China Energy, Chinese futures commission merchant Xinhua Group and other international investment funds. China is the world's No.2 buyer of palm oil, with the commodity comprising about 70 percent of its edible oil imports. Zhu, the former head of the Dalian Commodity Exchange (DCE), said the palm futures would complement other exchanges in the region. "There will arbitrage opportunities and it will help to generate more volumes for all the exchanges," Zhu said. The benchmark palm oil contract on the Bursa Malaysia Derivatives Exchange was trading down 1.1 percent on Friday, while the most-active palm olein contract on the DCE had eased slightly. Bursa Malaysia launched dollar-denominated crude palm oil and palm olein contracts over the last decade, but Kuala Lumpur-based traders said trading volumes for both contracts are close to zero due to a lack of market makers. APEX plans to offer other futures and options based on commodities from sectors including agriculture, energy, petrochemicals and metals, as well as on interest rates and stock indices.

New Singapore exchange kicks off trading with palm oil futures

Apex Frozen Food debuted in the stock market today.

&nbsp;The company was listed at RS 199.90 on BSE which is 14.23 per cent premium over its issue price of RS 175.&nbsp;

Whereas on The National Stock Exchange the company was listed at Rs 202, 15 per cent premium over the issue price of Rs 175.&nbsp;

The stock was fixed at 5 percent upper circuit of Rs 212.10 (the intraday high).

The company launched the public issue of up to 87 lakh shares that was opened for subscription during August 22-24. The price band for the issue was Rs 171-175 per share.

The company deals in a variety of white shrimp which is sold under different brands- Bay Fresh, Bay Harvest, and BayPremium.

It will use the proceeds earned for setting up a new shrimp processing unit of 20,000 tonnes per annum which is expected to&nbsp;come up in Andhra Pradesh.

&nbsp;

?The company was listed at RS 199.90 on BSE which is 14.23 per cent premium over its issue price of RS 175

Apex Frozen Food debuted in the stock market today. The company was listed at RS 199.90 on BSE which is 14.23 per cent premium over its issue price of RS 175. Whereas on The National Stock Exchange the company was listed at Rs 202, 15 per cent premium over the issue price of Rs 175. The stock was fixed at 5 percent upper circuit of Rs 212.10 (the intraday high). The company launched the public issue of up to 87 lakh shares that was opened for subscription during August 22-24. The price band for the issue was Rs 171-175 per share. The company deals in a variety of white shrimp which is sold under different brands- Bay Fresh, Bay Harvest, and BayPremium. It will use the proceeds earned for setting up a new shrimp processing unit of 20,000 tonnes per annum which is expected to come up in Andhra Pradesh.

Apex Frozen Food debuts with high mark

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