Indian Airlines, Emery Worldwide in pact
New Delhi: Indian Airlines and the US-based Emery Worldwide have got into a strategic alliance for transporting cargo from Singapore to India.

In terms of the agreement, Indian Airlines will ensure capacity on its planes for Emery Worldwide from Singapore. In return, Emery will guarantee volumes and revenue.

The national carrier expects a revenue of at least Rs one crore for the six-month period from the alliance. In turn, Emery Worldwide expects its cargo movement to India to double to around 300 tonnes per year.
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Picnic in affordable packs
Mumbai: Cadbury India is relaunching its Picnic chocolate with a changed composition in smaller packs. The 26-gram pack will cost Rs 10.

This is a new marketing strategy by Cadbury to make its lead brand affordable and attract more customers. Picnic will also be available in a 43-gram pack costing Rs 15.
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OIL ready to take up Assam gas cracker project
Guwahati: Oil India is willing to take up the Assam cracker project if Reliance Industries cannot set it up because of the liquidated damage clause in the supply agreement.

Oil India's chairman and managing director B.B. Sharma said the gas cracker project is "not just any project" as it is very much linked to the aspirations of the people of Assam.
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HM to seek legal opinion on layoff plea
Calcutta: Hindustan Motors is seeking legal opinion following the rejection of its application for layoff of staff at the Uttarpara unit by the industrial tribunal.

The industrial tribunal has turned down the company's request for a nine-month layoff at its plant, saying the application is "illegal and mala fide".
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General Motors plans small car
New Delhi: General Motors plans to introduce its new small car in several Asian markets in early 2000. The plan may include India, senior GM officials said.

The car is in the developmental stage and is built on a common platform and customised for individual markets.
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Government to reduce stake in Madras Fertilisers
Chennai: The government has invited bids for appointment of an adviser to assist it in the sale of stake in Madras Fertilisers.

The ministry of chemicals and fertilisers has placed advertisements seeking applications from international investment bankers and consulting firms to help the government reduce the equity in Madras Fertilisers from 58.74 per cent to 26 per cent.

Madras Fertilisers manufactures urea and phosphatic fertilisers.
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Iridium services not to be affected
Mumbai: Iridium India Telecom has notified customers in India that there will be no interruption in its global service in spite of its parent Iridium LLC filing a bankruptcy petition in a US court.

The company said such an action is a valid business decision that allowed businesses to proceed as usual, while allowing the company to undertake financial restructuring.
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Free incoming call facility from Usha Martin
Calcutta: Usha Martin Telecom, the cellular service provider for Calcutta, will not charge its subscribers for incoming calls from 15 August for a four-month period.

The company will be the first cellular service provider to offer the free incoming call facility to its subscribers.
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Microsoft, AOL rivalry takes a new turn
Seattle: The rivalry between Microsoft and America Online has taken a new turn with the disclosure that a Microsoft employee had used a false identity in an effort to smear AOL in the battle over instant messaging. A Microsoft executive said the smear attempt was not authorised, but raised a serious issue about AOL's latest efforts to jam its rival's messaging software.

Microsoft has posted its free messaging software with the promise that its users can communicate with the 40 million users of AOL's market-dominating message system free. Calling it an intrusion, AOL had blocked the Microsoft product, but Microsoft has been able to a certain extent to get around the blockade.

The Microsoft executive is said to have sent electronic mail message raising "alarm bells" about AOL's tactics. Microsoft, accepting that the message might have emanated from somebody inside, said it could be an act of an individual.
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Japanese Iridium unit to help parent company
Tokyo: The Japanese affiliate of satellite telephone major Iridium said it will provide financial support for the firm.

Yusai Okuyama, president of DDI Corp, which has a 58.7 per cent stake in the local unit Nippon Iridium, said DDI is unlikely to suffer much damage from Iridium's decision to file a bankruptcy petition in the US. Mr Okuyama did not specify how much funds Nippon Iridium can provide to the parent company.
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Daewoo restructuring meet postponed
Seoul: Daewoo's local creditor banks have postponed a meeting to finalise the restructuring of the group to 16 August. "Daewoo has requested creditors to adjust some of the schedules to sell various affiliates and the last minute changes have delayed the meeting," a spokesman for the creditors said.

The spokesman said the group and its creditors will sign an agreement on restructuring after the meeting.
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Fastest computer being developed in Japan
Tokyo: Japan's Science and Technology Agency said it is beginning a project to build the world's fastest computer in 2000.

Nihon Keizai Shimbun said the proposed computer will employ a method of gene analysis and will be able to handle 1,000 trillion calculations per second, 25 times more than the current fastest model being developed also by a Japanese agency.
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Kia recalls sedans

San Diego: Kia Motors is recalling more than 32,000 sedans because of a flaw in fuel system hoses.

The company has been notifying customers since mid-July that the fuel vapour hoses in its 1996 and 1997 Sephias could leak and must be replaced.
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Visa transactions at $1.4 trillion
Mexico City: Worldwide credit card transactions for Visa International totalled $1.4 trillion between July 1998 and June 1999, Visa International said.

President Malcolm Williamson of Visa International said the number of visa cards in circulation by end of June1999 had reached 850 million, 30 per cent higher than last year.
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