United enters 14 year

KATHMANDU: United Insurance Company (Nepal) Ltd has entered its 14th year of operations from December 1, states a press release issued by the company on Saturday. During the fiscal year 2005-06, the company collected premium of more than Rs 130 million from non-life sector, which is an increase by 17 per cent compared to the previous fiscal year. The company also claims that it has increased its reserve funds to Rs 47.6 million and has invested in government bonds. United Insurance has already received ISO:9001-2000, quality certification from Moody International Certification Ltd due to its quality services to the customers. — HNS

India receives crude

MANGALORE: The first shipment of crude from the Sakhalin oil field in Russia was received on Saturday by Indian minister of petroleum and natural gas at the New Mangalore Port Trust complex here. The consignment of 92,055 metric tonnes of Sokol crude was ferried on board the Russian ship MK Viktortitov - the oil tanker of Primorsk Shipping Company on a charter of ONGC Videsh Ltd. The tanker set sail from Dekastri port in Russia on November 14. OVL has 20 per cent stake in Sakhalin-1. — HNS