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R-Infra Q3 net up 10% at Rs 277 cr
Anil Ambani Group firm Reliance Infrastructure (R-Infra) today reported a growth of 10.35 per cent in its net profit at Rs 277 crore for the third quarter ended December 31, 2009, over the same period last year.

Govt cuts minimum export price for basmati by $300/tn
The government has decided to cut the minimum export price (MEP) for basmati, Finance Secretary Ashok Chawla said today.

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Punjab to set up IT park at Rajpura
The Punjab government has decided to establish a self-contained integrated information technology and knowledge industry park spread over an area of 1,276 acres at Rajpura. Punjab Chief Minister Parkash Singh Badal gave his in-principle approval for acquisition of common land in contiguity of six villages in one go for the setting up of the prestigious industrial park for IT/ITeS industry.
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AAI paying 600 staffers in Mumbai for no work

There are 600 employees of the Airports Authority of India (AAI) in Mumbai who draw their pay with no work to do. - Major pvt airlines owe Rs 274 cr to AAI - Torrent Power, GPCL to set up 2000 MW power plant at Amreli - Private airlines owe Rs 274 cr to AAI - "Delhi, Mumbai airports got over 4 points in service quality" - AAI raised Rs 380 cr this year; fares to remain unchanged - AAI seeks assistance from govt for loss making NE operations They were associated with Mumbai Airport prior to its privatisation three years earlier. When the airport was handed from AAI to Mumbai International Airports Ltd (MIAL), the private operator, there were 2,500 employees. MIAL was to give an offer to 60 per cent of them to join it; only 200 accepted. AAI was to get the rest redeployed over the next three years. That period ended in May this year. Some employees opted for voluntary retirement. Some others were transferred to airports at Pune, Goa and Aurangabad. But 600 still remain. They report to the AAI in Mumbai and draw a salary, but have no work. AAI authorities said the problem was pressure from a “regional political party”, which has insisted those who don’t wish to go out of Mumbai can’t be removed against their will. However, they said, the process is on, and the size of the problem had gradually lessened, with time. “The problem was really serious just before the Assembly elections in Maharashtra but things have improved a bit now. We are gradually shifting the employees, keeping in view the local sentiments,” said a senior AAI official. Another official said these employees, whose pay totals around Rs 1.5 crore a month, can only be shifted to another airport. AAI’s profit in 2008-09 was Rs 687.2 crore on a revenue of Rs 4,185.9 crore.


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