Author: Archive

France postal services open to more competition, expands La Poste banking

The French Parliament have adopted a law to deregulate postal services, opening up La Poste to increased competition, while also enabling the network to offer new financial services.

The vote allows France to finally meet its obligations under EU directives on postal deregulation which were supposed to have been fulfilled by 2002.

The EU has since made adherence to that directive, as well as others related to the energy and transportation sectors, a condition for approval of the state-rescue-plan for troubled engineering group Alstom SA.

Since initial deregulation in Jan 2003, La Poste has held a monopoly on mail services below 100 grammes or three times the basic stamp price, currently at 0.53 eur.

Following application of the new law, this will be lowered to 50 grammes and 2.5 times the basic stamp price.

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French La Poste aims for 9 percent of home mortgage market within 10 yrs

Jean-Paul Bailly, chairman of France’s state-owned postal operator La Poste, said he aims to have 9 percent of the country’s home mortgage market within 10 years, following government deregulation of the sector.

‘We have 4 percent of this market today,’ Bailly said.

‘We are aiming, by 10 years from now, for a share that corresponds with our share of the retail banking market in France, which is to say about 9 percent,’ he added.

French Parliament have approved laws that allow La Poste to offer home mortgages and other products to clients who do not already have current accounts.

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APC increases turnover

APC Overnight announced a 16% increase in turnover to GBP37m for the year ended March 31 2005. Profit rose i line, APC said, but it declined to give details ahead of confirmation by auditors.

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Target invests

Target Express has invested GBP2m in a new, 3,000 sqm depot at Bicester Park, close to the M40 and A34. The site will amalgamate two depots at Aylesbury and Abingdon.

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Austrian Post to complete office closures by July 31

Austrian postal company Oesterreichische Post (Post AG) will complete the planned closure of 310 post offices by the end of July 2005, the company said at a news conference on May 12, 2005.

The work of further 47 offices will be assessed by mid-2006. Post will aim to bring these offices in the black, Herbert Goetz, the Post official responsible for the company’s network of post offices, said. If the move failed, Post will have to close them.

Post justified the closures saying that the post offices had already incurred losses. A total 20 pct of the Post network is in the red. If Post had not implemented the savings measures, its network would have collapsed, Goetz added.

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Post & Parcel Magazine is our print publication, released 3 times a year. Packed with original content and thought-provoking features, Post & Parcel Magazine is a must-read for those who want the inside track on the industry.

 

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