Author: Archive

Postal savings proposal to provide banking services rejected

Posted by | Dec 8, 2003 | |

The central bank has rejected a proposal by Postal Savings Service Co. to provide banking services, saying the current rules disallow companies in the sector to get involved in what only banks can do. In a document just sent to the Vietnam Post and Telecommunications Corporation, the parent firm of Postal Savings Service, the central bank says the corporation’s affiliate can only mobilize deposits.The company is banned from other banking services like lending, domestic and international payments, and credit card issuance and acceptance.

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US Airborne completes offer to purchase senior notes due 2007

Posted by | Dec 8, 2003 | |

Airborne, Inc., an indirect wholly owned subsidiary of DHL Worldwide Express B. V., has announced the successful completion of its previously announced offer to purchase for cash any and all of its $150 million 5.75% Convertible Senior Notes due 2007, together with the related solicitation of consents to amend the registration rights agreement related to the Notes.

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Korea Post and TNT Post Group set up alliance

Posted by | Dec 8, 2003 | |

Korea Post, South Korea’s postal service operator, said Monday it has signed a strategic partnership with TNT Post Group NV, the Dutch logistics and postal company.

The deal is part of Korea Post’s plan to expand its foreign parcel delivery service, the state postal service operator said in a statement.

Korea Post hopes to use its partnership with TNT Post Group as a foothold for its other overseas businesses.

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We've got it covered

Posted by | Dec 8, 2003 | |

Express operator Nightline’s partnership with FedEx, which began in August, is already bearing fruit. “Over 1,000 Nightline customers now have seamless access to the FedEx network, ” says MD John Tuohy. Customers across the republic are now connected to the integrator ‘s EuroOne network and can expect two-day delivery across Asia and nextday or second-morning delivery to the US. Tuohy says FedEx traffic now accounts for 8% of his business, and Nightline has taken on 60 new staff. The FedEx brand is being added to Nightline’s fleet of 200 vehicles and to its depots.

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DHL begins mid east fleet evaluation to meet growing demand

Posted by | Dec 8, 2003 | |

DHLs plans for the region include new air destinations, improved and new build facilities at regional airports and a total upgrade of DHL’s Middle East air-road network, fleet and services. The news comes as DHL Middle East revealed that in the past 18 months, its regional aircraft fleet has doubled in size from 7 to 14 aircraft. “The review will dovetail with our future needs and plans, which includes a US $10 million infrastructure investment phase currently under way,” said David Wild, General Manager, DHL UAE.

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Dispute between DHL and US competitors intensifies

Posted by | Dec 8, 2003 | |

The dispute between DHL, the express delivery service owned by Deutsche Post, the German postal service, and its US competitors FedEx and UPS has intensified. UPS and FedEx have accused DHL of having exclusive agreements with two US airlines, Astar and ABX Air, and of controlling these two airlines. However, the two US delivery companies have now been accused of hypocrisy by those in the sector, who claim that their practices in Europe mirror those of DHL in the US: UPS has an exclusive agreement with Danish airline Star Air, while FedEx controls the German airline Express Airways.

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