MUMBAI, May 7: Emery Worldwide has announced the formation of a wholly-owned company in India. Emery Worldwide India is providing multi-modal transportation and logistics services through its offices in New Delhi, Mumbai, Chennai, Calcutta and Bangalore. The company also announced the appointment of its new country manager, Palem Srikanth.

Union Bank revises NRE, NRNR interest rates

MUMBAI: Union Bank of India has revised the interest rates on NRE and NRNR rupee deposits. For NRE term deposits maturing between 6 months and one year the interest rate has been fixed at 9 per cent while for deposits maturing above one years and two years the interest rate being offered by the bank is 12 per cent while deposits maturing above two years and three years the rate has been fixed at 14 per cent. The interest rate for NRNR deposits maturing between 6 months and three years has been revised to 14 per cent. These rates are effective from May 1.

150 firms get Amex cards

MUMBAI: The American Express corporate card has been issued to 150 corporates within 6 months of its launch. Several companies including Siemens, Microsoft and VIP Industries have been issued these cards. Amex is the world's largest travel related services company with over 38 million cards worldwide and more than $15 billion in annualised travel sales from its owned offices. The company has a network of more than 1700 travel services offices in more than 120 countries.

IIT Caps introduces 2 schemes

MUMBAI: IIT Caps, the funding arm of the IIT Group has introduced two new trust deposit schemes - double your money scheme, and deep discount scheme. Under the double your money scheme the initial investment doubles in 47 months. The minimum amount accepted is Rs 5,000 and additional in multiples of Rs 1,000. Under the deep discount scheme, a minimum amount of Rs 2,949 becomes Rs 5,000 in 36 months.

New role for Visa International

MUMBAI: Visa International has been appointed as the `official card' of four Indian cricket associations - Mumbai Cricket Association, Karnataka State Cricket Association, Tamil Nadu Cricket Association and Punjab Cricket Association. Through this arrangement, Visa cardholders will be able to buy tickets on the Visa card for international cricket matches including the forthcoming Independence Cup.

Wipro Acer launches workstation

BANGALORE: Wipro Acer, a joint venture between the Rs 1,600 crore Wipro Corporation and Acer Computer International of Singapore has launched the Wipro AcerPower 6200. It is a workstation that runs on Intel's Pentium II with built-in MMX multimedia technology. It offers several features that pack in more power and performance for high-end users in mission critical applications like engineering and desktop publishing.

These include Wipro Acer Desktop Manager 2.0 with hardware monitoring functions, ATX form factor, universal serial bus support, high performance Intel 82440 FX chipset and memory error checking and correction function support.

A clarification

MUMBAI: With reference to the article of May 6, it may be clarified that the government will bring down its holding in RCF to a level of 74 per cent.

RCF's proposed tie-up with UCB of Belgium will cater to the South Asian market. UCB has two methylamines plants in Belgium and Germany.

Copyright © 1997 Indian Express Newspapers (Bombay) Ltd.