Author: Archive

FedEx makes second Asia hub in southern China airport

Posted by | Jul 5, 2005 | |

US logistics giant, FedEx, will sign an agreement early next month to make Guangzhou’s Baiyun Airport in southern China its second Asia-Pacific hub, a report said Tuesday. Citing unnamed sources close to the deal, the Standard newspaper here said the Guangzhou Baiyun Airport Authority would spend up to 1.5 billion yuan (181 million US dollars) to build a warehouse and a runway for the company. Construction would start in August next year and be completed in October 2008 if the deal is approved by China’s State Council, or cabinet, and its aviation authority. FedEx’s other hub is at the US military’s former Clark air force base in the Philippines.

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Japanese lower house of Parliament to vote on closely watched postal reform bill

Posted by | Jul 5, 2005 | |

Prime Minister Junichiro Koizumi’s government sternly urged Parliament to approve legislation Tuesday to create the world’s largest bank by privatizing the sprawling state-run postal system, which handles trillions of yen (dollars) in savings and insurance deposits. The powerful lower house was scheduled to vote on the bills later Tuesday, amid infighting in the ruling Liberal Democratic Party that has pitted calls for reform to streamline the financial system against fears that privatization will reduce jobs and services. The vote was crucial for Koizumi, who has made the project the centerpiece of his government since winning re-election last year. Koizumi has argued that reform is needed to make more efficient use of Japan Post’s 330 trillion yen (USD3 trillion; EUR1.8 trillion) in savings and insurance deposits.

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FedEx seals deal for Baiyun Airport Hub in China

Posted by | Jul 5, 2005 | |

FedEx will sign an agreement early next month to make Guangzhou’s Baiyun Airport its second Asia-Pacific hub, according to a source close to the negotiations.

Under the agreement, the Guangzhou Baiyun Airport Authority would spend up to 1. 5 billion yuan (HKD1. 4 billion) to build a warehouse and a cargo runway for FedEx’s use. Provided the deal is approved by the State Council and the General Administration of Civil Aviation, construction of the FedEx hub would start in August next year.

The target date for completion is October 2008.

FedEx would only say it is considering how best to expand its hub operations in Asia and exploring a number of ways to ensure flexibility in future.

Last year, FedEx signed a framework agreement with Guangzhou’s new airport with the intention of making it its sole Asia-Pacific hub.

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Italy post office aiming for privatisation in 2006

Posted by | Jul 5, 2005 | |

Vittorio Mincato, chairman of the state-owned post office company Poste Italiane SpA, said the management is working to ensure the group’s privatisation next year. Speaking on the sidelines of a conference, Mincato said that the economy minister Domenico Siniscalco is expected to give indications regarding the company’s privatisation in the 2006 budget.

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UK DX Services plc – trading update

Posted by | Jul 5, 2005 | |

The leading independent provider of early morning, next day mail services. DX delivers over one million items each day and operates a UK-wide, end-to-end
network including collection, sortation and final mile delivery. The directors expect turnover in the year to 30 June 2005 to have been similar to last year (GBP131.9m in 2004). Operating profit before amortisation of goodwill and exceptional demerger costs is also expected to have been similar to last year (GBP32.7m in 2004), except for the effect of the additional costs of being an independent and listed company of up to GBP2m. Net debt is estimated at GBP60m at 30 June 2005. This is significantly less than market expectations and results in a lower than expected interest charge for the year.

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Poczta Polska on WSE in 2007?

Posted by | Jul 5, 2005 | |

Poczta Polska (PP) national postal service forecasts that the earliest possible time for its debut on the Warsaw Stock Exchange is 2007, announced PP Director General Tadeusz Bartkowiak. Before it goes public, PP will need to undergo commercialisation. Bartkowiak believes that changing the legal status to a joint stock company will be possible in 2006. In his opinion, commercialisation will broaden the company’s access to sources of financing. PP is currently carrying out an amended development strategy adopted in 2004. It wants to differentiate its revenues, increasing the number of financial services and products, as well as express and courier parcels.

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UPS expands technology for greater inbound visibility

Posted by | Jul 5, 2005 | |

UPS today unveiled a technology enhancement that automatically notifies customers of every package in the UPS system moving toward them, providing a new tool to better manage the demands of business. The software technology opening a new “window” into the UPS system is called UPS Quantum View Inbound and represents the most recent addition to the UPS Quantum View suite of visibility services. Quantum View Inbound provides proactive notification of UPS air express, ground and international packages that are en route to the receiver’s location.

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DHL agrees to end US cigarette deliveries to individuals

Posted by | Jul 5, 2005 | |

One of the world’s largest package delivery companies will stop delivering cigarettes to individual consumers nationwide under an agreement with New York Attorney General Eliot Spitzer. Spitzer said DHL is the first major shipping company to agree to the ban and negotiations continue with other companies and the U.S. Postal Service. The agreement follows a March deal in which major credit card companies began refusing to participate in Internet sale of cigarettes nationwide. The agreement with Spitzer and the U.S. Bureau of Alcohol, Tobacco, Firearms and Explosives is aimed at ending a common method for youths to obtain cigarettes, which can’t legally be sold to people under 18 years old. In Tuesday’s agreement, DHL cuts off another route for the Internet cigarette sales, a growing business, Spitzer said.

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