Need to Know | Govt considering 10% hike in airport charges

Need to Know | Govt considering 10% hike in airport charges
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First Published: Fri, Aug 22 2008. 12 47 AM IST
Updated: Fri, Aug 22 2008. 12 47 AM IST
Mumbai: The civil aviation ministy is considering increasing airport charges by 10%, following a proposal from the private companies entrusted with the modernization of the Mumbai and Delhi airports. “However, we have not taken any decision on this matter,” said civil aviation minister Praful Patel on Thursday, on the sidelines of the inauguration of a third runway at Delhi airport.
The airport is the country’s first to have three runways. Though domestic airlines, which are expected to make combined losses of $2 billion this fiscal due to high jet fuel costs, are opposed to the idea, the private airports have submitted their proposal to the ministry to hike airport charges by 10%.
Modernization of the Mumbai airport is led by GVK Group and the Delhi airport by GMR Group.
— Tarun Shukla
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Holcim to miss profit on US slowdown, prices
London: The world’s second biggest cement maker Holcim Ltd said it won’t meet its earnings target this year after second quarter profit missed estimates on slumping US demand and higher raw material costs. Operating profit for 2008 will match last year’s results on a comparable basis, chief executive officer Markus Akermann said on a conference call on Thursday. That compares with a long-term target of 5% annual growth.
Holcim forecasts the US cement industry will contract this year following a record plunge in homebuilding.
— Bloomberg
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Govt, Unicef launch India Programme Action Plan
New Delhi: To ensure that Millennium Development Goals (MDGs) are met in at least 30 districts in the least served states, the United Nations Children’s Fund, or Unicef, and the government of India have signed a new five-year action plan that has been formulated within the context of the 11th Plan and the United Nations Development Assistance Framework. Unicef has budgeted $700 million (Rs3,052 crore) for India of which $200 million, will come from them, their largest contribution so far, and the rest from partners. The India programme will look at health, nutrition, water and sanitation, maternal health, immunization, child protection, education, children and AIDS. The plan shares India’s burden on ensuring special protection to disadvantaged children and on tackling undernourishment.
— Staff Writer
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E-waste?company Attero Recycling raises $6.3 mn
Bangalore: Noida-based e-waste management start-up Attero Recycling Private Ltd raised $6.3 million (Rs25 crore) from venture capital firms NEA-IndoUS Ventures and Draper Fisher Jurvetson.
The company will use the proceeds to establish an e-waste recycling facility in Roorkee and for growing business. The recycling plant in Roorkee has an area of more than 100,000 sq. ft and will process waste electrical and electronic equipment.
“There has never been a greater need for a company that can not only handle complete processing of e-waste but also provide client friendly services like pickup of e-waste from premises and complete data security,” said Mohanjit Jolly, executive director, Draper Fisher Jurvetson, India.
— Deepti Chaudhary
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Ojas invests in software solution provider
Bangalore: Bangalore-based early stage technology focused venture capital firm Ojas Venture Partners has invested an undisclosed amount in Mango Technologies, a software solution provider for terminal devices. The company’s products include mobile application framework for ultra low end to mid end devices (below Rs 2,000). “Mango Technologies is hardcore product technology company and we are sure that within the next 9 months a phone integrated with a Mango platform will hit the market,” said Rajesh Srivastha, managing partner, Ojas Venture Partners.
Srivastha said the VC firm sees huge investment opportunities in the mobile phone segment.
Besides Mango Technologies, Ojas has invested in Tyfone Inc, a mobile financial services company, and Ziva Software, which provides products and services in the sphere of mobile search.
— Deepti Chaudhary
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First Published: Fri, Aug 22 2008. 12 47 AM IST