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India’s domestic air passenger traffic surges
NEW DELHI: India’s domestic air passenger traffic surged by 23.18 per cent in 2016 to 998.88 lakh, official data showed on Tuesday. “Passengers carried by domestic airlines during January-December 2016 were 998.88 lakh as against 810.91 lakh during the corresponding period of previous year, thereby registering a growth of 23.18 per cent,” the Directorate General of Civil Aviation (DGCA) said in its statistical analysis for last
 
 
Islamabad agrees to 60% subsidy for metro bus service
ISLAMABAD: After a deadlock of over one-and-a-half years, the federal government of Pakistan, through the Capital Development Authority (CDA), has surrendered to the demand of the Punjab government to shoulder the major financial burden of the metro bus service. The CDA bureaucracy had been reluctant to sign the controversial agreement under which the federal government/CDA would pay 60pc of the annual subsidy while Punjab
   
Sri Lanka to return to loan markets
COLOMBO: The Government of Sri Lanka is returning to the loan markets within four months of sealing its largest borrowing and is aiming for a new financing of up to $1 billion, sources said in Hong Kong. The sovereign has sent out a request for proposals for a loan with a tenor of at least three years and a January 20 deadline for responses. Banks are preparing to submit proposals by the deadline for what will be the South
 
 
Global Telecom mulls $200m loan for share buy-back
CAIRO: Egyptian mobile telecoms firm Global Telecom Holding (GTH), part of Vimpelcom, is looking to raise an up to $200 million loan to fund a share buy-back, the company announced on Tuesday. The company is looking to buy back up to 10% of the total issued capital at a price of E£7.9 per share for a total consideration of E£4.1 billion ($221 million). The buy-back will also be financed by existing cash and either existing or
   
Over 78% US companies in Pakistan to invest more
KARACHI: Perception Survey conducted by American Business Council (ABC) showed that there was a significant improvement of over 30 per cent in the Law and Order Situation as compared to last year. Over 78% of respondents have indicated that they plan to invest in Pakistan over the next 12 months as compared to 65% from last year and 83% are optimistic about the long-term economic and operating climate. The members have however
 
 
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