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Non-life insurers’ income zooms in India
KOLKATA: Non-life insurance companies posted over 37 per cent increase in their gross premium income (direct premium income underwritten) to Rs 12,123.53 crore in January as compared to Rs8,840.90 crore in the year-ago month. Health insurance sector is surging with the entry of global players to lucrative Indian markets. Pharmaceutical companies are also benefited by the various medical insurance schemes in India. Players in
 
 
Egypt signs deals to import 90,000 tonnes of edible oil
CAIRO: Egypt has sealed deals to import 90,000 tonnes of edible oil in the near future, as part of a government effort to boost the supply of strategic commodities, Minister of Supply and Internal Trade Ali El-Moselhy said. Under the signed contracts, 60,000 tonnes of sunflower oil and 30,000 tonnes of soybean oil would be imported, El-Moselhy said. The move is part of the government’s plans to increase stocks of strategic
   
Odisha posts GSDP growth rate of 7.94% in 2016-17
BHUBANESWAR: Odisha has registered a gross state domestic product (GSDP) growth rate of 7.94 per cent in 2016-17 against the national average rate of 7.1 per cent, the state government announced on Saturday. According to the Economic Survey-2016-17, which was tabled in the state Assembly on Saturday, the major highlight of accelerated growth was the modest pick up in the agriculture production due to improved monsoon. The state
 
 
Officials evaluate Sindh coal and wind power projects
KARACHI: Most of the coal and wind power projects being executed in Sindh province are likely to be completed this year. Officials evaluated the progress of seven wind power projects of a total capacity of 350 megawatts electricity, which are in final stage. They are expected to start generating electricity within two months. Eighty per cent work on two coal-based power plants with a total capacity of 1320 megawatts at Port
   
Islamabad allocates funds for Gwadar LNG pipeline
ISLAMABAD: The government of Pakistan has earmarked Rs25 billion ($238 million) out of gas infrastructure development cess (GIDC) collection for implementing the $2 billion Gwadar liquefied natural gas (LNG) pipeline project. The disclosure was made in a meeting of the Economic Coordination Committee (ECC) held on February 13. According to officials aware of the development, the government has received about Rs183 billion so
 
 
Banks’ investment in government papers rises 9.10% in Pakistan
KARACHI: Banks’ investment in state-owned securities in Pakistan increased 9.10 per cent till January 31, 2017, as the government boosted its borrowing to finance a budget deficit caused by low tax revenue and less foreign inflows, the central bank data showed. The outstanding stocks of the government papers - market treasury bills, Pakistan Investment Bonds and Ijara Sukuk - held by commercial banks, increased to Rs6.589
   
Bangladesh, India ink MoU for development of Sylhet city
DHAKA: India and Bangladesh signed a Memorandum of Understanding (MoU) for the sustainable development of Sylhet city with financial aid from India. Indian High Commissioner Harsh Vardhan Shringla, Additional Secretary of the Economic Relations Division Shah Md. Aminul Haque and Sylhet City Corporation CEO Enamul Habib signed the tripartite agreement on Friday in Sylhet, a metropolitan city in northeastern Bangladesh. Finance
 
 
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