Singapore Post (SingPost), the postal unit of Singapore Telecommunications (SingTel), made solid gains Tuesday as the largest initial public offering (IPO) so far this year came to market, dealers said. At the midday trading break at 12:30 pm (0430 GMT), SingPost closed at 63 Singapore cents (36.42 US cents), up from its issue price of 60 cents.
Read MorePanalpina upbeat despite tough year
Read MoreExpress parcels group GeoPost last week pledged to increase its international traffic from 3% to 10% this year to take advantage of the higher profits in the international sector.
Read MoreThe U.S. Department of Transportation announced Monday that it has set Oct. 31 as the deadline for the administrative law judge hearing the DHL Airways ownership case to reach a decision. Chief administrative law judge Ronnie L. Yoder had requested an extension until Nov. 24. The original DOT deadline was set at Sept. 2.
Read MoreThe Board of Directors of UPS, at its regularly scheduled meeting, today declared a quarterly cash dividend of 21-cents per share on all outstanding Class A and Class B shares. The dividend is payable on June 3, 2003, to shareowners of record on May 19, 2003.
Read MoreThe Royal Mail is set to reveal a pensions shortfall of about 4 bln stg when it reports year-end figures later this month, according to The Sunday Times. The newspaper did not name its source, but said the shortfall — which the group has to declare under the new FRS17 accounting standard — is likely to shock the group’s 200,000 workforce and the government, which is still the ultimate owner of Royal Mail.
Read MoreRoyal Mail will announce this month that it has reduced operating losses by a third in the first 12 months of chairman Allan Leighton’s three year cost-cutting programme. Despite the slower than expected axeing of second letter deliveries to homes across the country, the loss in the latest financial year is likely to fall to around GBP200m from GBP318 million previously, largely due to better performance at the core mail and Parcelforce businesses.
Read MoreThe new integrated DHL, which provides logistics, express and parcel services, sees Asia emerging as a source of strong growth for its business, Yasmin Aladad Khan, General Manager DHL Express (Malaysia) Sdn Bhd. “Asia is already the fastest growing market for DHL and the intra Asia cargo (shipment) will be boosted by the development of trade into and out of China and member countries of the Asean Free Trade Agreement,” she said at the launching of DHL new brand projecting DHL letters in red on a yellow background.
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