Radical plans to axe 30,000 jobs at the Post Office could blow an £800m black hole in its pension fund. The warning of the potentially devastating shortfall is buried in a report by accountant Arthur Andersen for Post Office regulator Postcomm.
Read MoreThe Central Board of Revenue (CBR) has allowed the registered exporters to claim refund of sales tax paid on courier services, says a sales tax ruling issued here on Saturday.
The department has notified that the registered exporters are entitled to claim sales tax refund paid on courier services in lieu of exported goods as the supplies made by the exporters were zero-rated under Sales Tax Act, 1990.
February 8 – Rasmala Buyout Fund a Dubai based company has bought Aramex for around $60m. The purchase ws made by tender offer for the Aramex shares which were traded on NASDAQ through Cayman Isles and Bermuda subsidiaries. Fadi Ghandoor the former main shareholder in Aramex has taken up 28% of the shares of the Cayman Island cpmany acquiring the shares.
Read MoreThe shambles of the Post Office/ Royal Mail/Consignia is self- inflicted. Management wailing about the regulator (the clearest indication that Corbett and Co are doing a good job) and private operators ‘cherry picking’ bulk mail is the last desperate excuse of a management that has failed to pay any attention to one of its biggest and wealthiest customers – the direct mail industry.
Read MoreA large percentage of the international mailing community is not happy with Consignia, and with good reason.
January 2 saw increases of up to 30 per cent in their overseas postal rates, coupled with a slashing of discounts for sorted mail. This makes a mockery of Consignia’s Wholesalers’ Agreement, with its approved international postal consolidators, and it smacks of robbing Peter to pay Paul.
The Irish Republic’s An Post postal company today confirmed plans for more than 1,100 job losses as well as office closures as part of a cost-cutting operation.
The company wants to cut 1,140 jobs and close 26 sub-post offices by the end of next year following a projected deficit this year of 37 million euros (#22.6 million) _ more than five times as much as its seven million euro (#4.3 million) loss in 2001.
Read MoreAlready notorious for being slow, unreliable and inefficient, the Russian postal service is threatening to disintegrate completely if drastic measures are not taken fast.
In an effort to tackle the problem, the government is proposing uniting, or recentralizing, the currently independent regional postal services – which were scattered to rely on their own independent means in 1990 – into a single federal system.
the acceptance of inevitable liberalisation does not mean everyone in the mailing house sector has complete confidence in Postcomm’s new competitive deal. Fears of further disruptions and uncertainties about the future mean the industry remains cautious, to say the least.
“Postal liberalisation frightens me,” states SR Communications chairman John Burbidge. “Compared with the rebate system we had in the Seventies, what we have now is much better. The postal service is currently going through a blip brought about by bad management, not by the industry itself
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